Sanswire Delivers SkySat Airship to Customer

Sanswire Corporation (OTC.BB:SNSR), a developer and producer of unmanned aerial vehicles (UAV) and related technologies, today announced that the SkySat airship has been delivered to Eastcor Engineering's facilities. The Company also announced that, following inspection, the airship has been formally accepted by Global Telesat Corp (GTC), paving the way for GTC to release its initial payment to Sanswire. Pursuant to the purchase agreement with GTC, a deposit payment was applied to the purchase price once the inspection was completed. If all options in the contract are exercised, the contract could have a value of $1 million.

 

Sanswire and GTC entered into a sales agreement for the SkySat on April 20. Sanswire immediately shipped the 126-foot unmanned aerial vehicle to GTC's engineering facilities in Maryland. Upon delivery, third party defense contractor Eastcor Engineering performed an inspection of the airship on behalf of GTC.

 

Sanswire's Chairman of the Board, Major General Wayne P. Jackson (US Army, Ret.) stated, "GTC and Sanswire will work closely together over the coming months to expand the airship's capabilities and prepare it for demonstration to third parties. We strongly believe that our partnership with GTC will improve Sanswire's ability to reach new customers within the U.S. Federal Government and Department of Defense, and enable us to provide them with low-cost, long-duration intelligence, surveillance, and reconnaissance solutions."

 

The SkySat is a lighter-than-air UAV designed for intelligence, surveillance, and reconnaissance (ISR) missions at altitudes between 30,000 feet and 45,000 feet. The remotely operated airship is unique in its design and functional capability in the UAV market. It is powered by a solar-enabled propulsion system that incorporates five independent lifting gas cells housed in a specialized envelope. Its proprietary teardrop design allows it to operate with greater efficiency than its competitors.

 

Global Telesat Corp. is a leading provider of asset tracking and monitoring solutions for governments and commercial users. GTC designs and builds custom made tracking and monitoring systems and devices using GSM, radio and RFID signals and specializes in providing services using the Globalstar low orbit satellite network. GTC's equipment is installed in various ground stations across Africa, Asia, Australia, Europe and South America.

 

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 will operate at a Stratospheric height with a broad set of government and commercial solutions.

 

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. 

Source: Marketwire/Yahoo Finance