Attached files
| file | filename |
|---|---|
| 8-K - World Surveillance Group Inc. | v209696_8k.htm |
| EX-10.2 - World Surveillance Group Inc. | v209696_ex10-2.htm |
SANSWIRE ANNOUNCES MANAGEMENT
INVESTMENT
Chairman,
CEO and Partners Invest Further
KENNEDY
SPACE CENTER, FL –
February
1, 2011
(Marketwire) -
Sanswire
Corp. (OTCBB: SNSR), a developer of
lighter-than-air unmanned aerial vehicles (UAVs) and related technologies, has
received a further investment by its Chairman of the Board, Michael K. Clark,
and its President and CEO, Glenn D. Estrella, along with other partners of the
Company. The investors purchased an aggregate of $175,000 of shares of Common Stock and warrants
to purchase shares of Common Stock of the Company, the proceeds of which will be
used to advance the Company’s corporate and UAV
operations. This new investment by the Company’s Chairman, CEO and partners
follows an investment by the Company’s CEO and partners in
November 2010 and a prior investment by the Company’s Chairman at the end of
September.
Sanswire Chairman Michael K.
Clark stated “Upon my arrival at Sanswire
in June 2010, we evaluated the Company’s corporate
structure and
operations and we embarked on a program to resolve historic issues and prepare
the Company for commercial success. I believe we are beginning 2011 in a
stronger position, one where the Company is poised to take advantage of
projected growth in a demanding market. We
also have implemented a series of fundamental corporate governance initiatives
focused on transparency and adherence to our regulatory commitments. We intend
to operate the Company in this framework of corporate integrity as we continue
to pursue our commercial
milestones in an aggressive strategic manner.”
President and CEO Glenn
Estrella commented “Starting day one, I made it
my responsibility to execute on our Chairman’s vision to transform
Sanswire into a healthy commercial operation with the highest ethical
standards. The Company accomplished many goals in 2010, which we
believe will be instrumental in positioning the Company for growth in
2011. The investments made by our management team and partners
evidence our collective belief in the Company and its
goals. Together with our committed staff, partners and investors, we intend in
2011 to continue to re-define Sanswire and to transparently communicate Company
news in full compliance with our reporting
obligations.”
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 use
of any proceeds or the effects of any investment in the
Company, the
sufficiency of any funding of the Company, the Company's ability to
execute its business plan, achieve commercial success
or growth in its business, or accomplish its strategic goals, the capabilities of the
Company's products, the outcome of any testing of the Company's
products,
the outcome of
any negotiations with government entities, or the Company's efforts to
resolve historic
issues or settle
any pending litigation. 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.
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Contact:
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Sanswire
Corp.
321-452-3545
Barbara
Johnson
investors@sanswire.com
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