Sanswire Corp. Announces Second Quarter 2010 Results

Sanswire Corp. (OTC.BB:SNSR) today announced that it has filed with the United States Securities & Exchange Commission its quarterly report on Form 10-Q for the quarter ended June 30, 2010.

For the quarter ended June 30, 2010, the Company reported a net loss of $4,078,997, or $0.01 per share, with $250,000 in revenue, compared to a net loss of $7,299,396, or $0.02 per share, with no revenue for the quarter ended June 30, 2009.

The net loss for Q2 2010 is attributed to an operating loss during the quarter of $2,167,837, compared to an operating loss $4,394,118 for Q2 2009, to interest-related expenses of $105,447, compared to interest-related expenses of $698,705 for Q2 2009, and to $1,822,501 related to derivative financial instruments, compared to a slight gain from derivative financial instruments of $2,206,573 for Q2 2009.

Glenn Estrella, Chief Executive Officer of Sanswire, said, "The company has made substantial progress over the past quarter and we will continue to advance our efforts in becoming a leader in the lighter than air UAV market. Our recent accomplishments include the arrival of the SkySat and STS-111 airships in the US, the recent completion of our new hangar facility and the commencement of the systems integration work currently underway with our partners."

Chairman Michael K. Clark added, "I have all the confidence that company will continue to strive forward and execute on all its objectives as we promote our products and provide comprehensive transparency and value to our investors."

Sanswire's Quarterly Report on Form 10-Q is available via its web site.

About Sanswire Corp.
Sanswire Corp. (OTC.BB:SNSR) is a developer of integrated aerospace communications products and services. The company specializes in the design and construction of autonomous, lighter-than-air UAVs (Unmanned Aerial Vehicles) capable of carrying payloads that provide persistent security solutions at low, mid, and high altitudes. Sanswire's airships and auxiliary products are designed for use by commercial and government-related entities that require real-time intelligence, surveillance, and reconnaissance support for homeland defense, maritime, and border missions. The company's long-term objective is to develop and deliver state-of-the-art airship technology that provides surveillance sensor suites and other advanced wireless broadband capabilities to the broader commercial markets.

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. 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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Source: Marketwire/Yahoo Finance