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Wasserman Morris
& Co. Reiterates Coverage for Cyber Defense Systems with
a One-Year Share Price Target of a $1.60
Tuesday December 13, 6:30 am ET
NEW YORK & ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Dec.
13, 2005--Cyber Defense Systems, Inc. (OTC BB:CYDF - News)
today announced that New York-based Wasserman Morris &
Company, an independent investment research firm, reiterates
its coverage of the Company.
Wasserman Morris issued a speculative buy rating with a one-year
target price of a $1.60 per share. Their report, which is
available for viewing at http://www.wassermanmorris.com and
on Cyber Defense Systems' website http://www.cduav.com, cites
"It seems that the acceptance of UAVs may come even sooner
than expected. As discussed in the initiation report, the
current analysis of the industry is considering a 25-year
span, with the year 2005 being just the beginning for the
emerging UAV classes and categories. We are witnessing the
childhood stage of an emerging industry. While a number of
producers did make and deliver UAVs, we believe that the future
market is significantly larger and broader than envisioned
today. There are signs of increasing awareness of the industry,
at least in the governmental sector".
Billy Robinson, Cyber Defense Systems' CEO, said, "Our
continued success of the CyberBug(TM) and the growing interest
in the M.A.R.S.(TM) airships shows us that targeted product
development is beginning to paying off."
ABOUT CYBER DEFENSE SYSTEMS, INC.
Cyber Defense Systems, Inc. is designing and building a new
generation of UAVs. Cyber Defense is currently marketing the
airships and their CyberBug(TM) UAVs to various branches of
the U.S. government and U.S. allies as multi-use platform
vehicles capable of deployment in surveillance and communication
operations. Cyber Defense Systems, Inc. http://www.cduav.com
(OTCBB: CYDF - News)
ABOUT TECHSPHERE SYSTEMS INTERNATIONAL, INC.
Techsphere Systems International, Inc., a wholly owned subsidiary
of Cyber Defense is located in Atlanta and Columbus, GA, is
the manufacturer of low, mid and high altitude airships. Together
with their teaming companies, Techsphere will design and build
unique airship platforms for use in many areas including surveillance,
the military and wireless communications. The current spherical
airship design holds the world altitude record at over 20,000
feet. http://www.techsphere.us.
ABOUT PROXITY, INC.
Proxity, Inc. (PINK SHEETS:PRXT - News) is a developmental
holding company specializing in the deployment and marketing
of security protection technology and government contract
fulfillment. The Company seeks to acquire and develop security
technology as well as continue to develop the PECS product
line. Proxity plans to enter into teaming and exclusive and
nonexclusive marketing and distribution agreements with products
developed for commercial, military and homeland defense. http://www.proxity.com
ABOUT WASSERMAN MORRIS
Wasserman Morris & Co. is an equity research firm providing
un-biased research for significantly under-followed small
cap companies. Wasserman Morris & Co. distributes its
research to a broad audience of institutional and individual
investors seeking information on under-followed small cap
stocks. CYDF has paid Wasserman Morris upfront for 12 months
of coverage as detailed in the report. http://www.wassermanmorris.com
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition
or results of operations; (iii) the Company's growth strategy
and operating strategy; and (iv) the declaration and payment
of dividends. The words "may," "would,"
"will," "expect," "estimate,"
"anticipate," "believe," "intend,"
and similar expressions and variations thereof are intended
to identify forward-looking statements. Investors are cautioned
that any such forward-looking statements are not guarantees
of future performance and involve risks and uncertainties,
many of which are beyond the Company's ability to control
and those actual results may differ materially from those
projected in the forward-looking statements as a result of
various factors.
Contact:
Cyber Defense Systems, Inc./
Techsphere Systems International, Inc.
Billy Robinson, 727-577-0878
billy@proxity.com
or
Wasserman & Morris Co.
Rob Wasserman, 212-382-1791
ryan@wassermanmorris.com
or
TTC Group, Inc
Victor Allgeier, 212-227-0997
vic@ttcominc.com |
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