Attached files
| file | filename |
|---|---|
| 8-K - World Surveillance Group Inc. | v201733_8k.htm |
| EX-10.2 - World Surveillance Group Inc. | v201733_ex10-2.htm |
| EX-10.1 - World Surveillance Group Inc. | v201733_ex10-1.htm |
SANSWIRE CEO AND PARTNERS
INVEST IN COMPANY
Proceeds To Fund Next Level
STS-111 UAV Flight Testing
AVENTURA, FL —
November 10, 2010
(Marketwire) -
Sanswire
Corp. (OTCBB: SNSR), a developer
of lighter-than-air unmanned aerial vehicles
(UAVs) and
related technologies, today announced that its President
and CEO, Glenn Estrella, along with several of the Company’s partners have made an
investment in Sanswire by purchasing shares of Common Stock of the Company, the
proceeds of which will be used to advance our STS-111 UAV
flight testing and Company operations. This new investment by
the Company’s CEO and partners follows an
investment by the Company’s Chairman of the Board,
Michael Clark, at the end of September to facilitate the Company’s effort and offer to settle pending
litigation with the Securities and Exchange
Commission.
The Company has teamed up
with several of its defense partners to assist in funding the further
development and testing of the STS-111 UAV’s onboard flight systems,
including an
upgraded propulsion system and the integration of an intelligence, surveillance
and reconnaissance package into the STS-111. Sanswire is currently in
discussions with government officials concerning mid altitude flight testing at
government facilities with the appropriate
airspace in which to operate the Company’s UAVs. Following any
successful negotiations, Sanswire expects to transport the STS-111 and
supporting systems and personnel to certain flight facilities where the Company
plans to undertake increased altitude and
endurance testing of its UAVs.
Sanswire President and CEO
Glenn Estrella stated “Along with our dedicated
partners, I am committed to executing our business plan and wanted to assist the
Company by providing necessary resources to demonstrate the capabilities
of the STS-111 UAV at targeted venues for potential customers.” Mr. Clark added,
“Together we
will work to enhance our technology to produce UAVs with capabilities that
satisfy the requirements of the demanding
marketplace.”
About Sanswire
Corp.
Sanswire Corp. (OTCBB: SNSR)
is a developer of autonomous, lighter-than-air UAVs capable of carrying payloads
that provide persistent security solutions at low, mid, and high
altitudes. Sanswire’s airships are designed for use by
government-related and commercial entities that require real-time intelligence,
surveillance, and reconnaissance support for military, homeland defense, border
and maritime missions.
Forward-Looking
Statements
Certain statements in this
release constitute forward-looking statements or statements which may be deemed
or construed to be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements regarding the
capabilities of the Company's products, the outcome of any testing of the
Company's products, the use of any proceeds or the effects of any investment in
the Company, the outcome of any negotiations with government entities, the
Company's ability to execute its business plan, the Company's efforts to settle
any pending litigation or the sufficiency of any funding of the Company. The
words "forecast," "project," "intend," "expect," "should," "would," and similar
expressions and all statements, which are not historical facts, are intended to
identify forward-looking statements. These forward-looking statements involve
and are subject to known and unknown risks, uncertainties and other factors, any
of which could cause the Company's previously reported actual results,
performance (finance or operating) to change or differ from future results,
performance (financing and operating) or achievements, including those expressed
or implied by such forward-looking statements. The Company assumes no, and
hereby disclaims any, obligation to update the forward-looking statements
contained in this press release.
Contact:
Sanswire
Corp.
786.288.0717
Barbara
Johnson
investors@sanswire.com