Sanswire Encouraged by Obama Administration's Support of UAV Industry
Sanswire Corp. confirmed to shareholders and technology partners that it is encouraged by President-Elect Barack Obama's plan to utilize Unmanned Aerial Vehicles (UAVs) as part of the Obama/Biden defense initiative, as outlined in the "Build Defense Capabilities for the 21st Century" subheading of the Defense section on the official Barack Obama website, www.barackobama.com/issues/defense.
"The new administration's plan, as described on the official website, indicates that UAVs, such as those Sanswire makes, can be instrumental in not only helping to equip our troops more thoroughly, but also in preserving our global reach in the air. We find this extremely encouraging as the focus of our business plan is to build UAV products integrated with the customized payloads that help achieve our customers' missions, most of which are expected to relate to global peacekeeping initiatives," stated Jonathan Leinwand, Chief Executive Officer of Sanswire.
Language specific to UAVs contained within that section states: "We cannot repeat such failures as the delays in deployment of armored vehicles, body armor and Unmanned Aerial Vehicles that save lives on the frontlines," and "We need greater investment in advanced technology ranging from the revolutionary, like Unmanned Aerial Vehicles and electronic warfare capabilities, to essential systems like the C-17 cargo and KC-X air refueling aircraft, which provide the backbone of our ability to extend global power."
According to the Government Accountability Office in its November 2008 report on Unmanned Aircraft Systems, the US Department of Defense plans to spend more than $17 billion from 2008 to 2013 for UAV systems with expanded and new capabilities, and it reprogrammed about $1.3 billion in 2008 funds with congressional approval to increase ISR capabilities, including unmanned aerial systems, to support ongoing operations.
The Company is likewise encouraged by the investment community's recognition of the growth opportunities within the UAV industry, particularly by CNBC's Jim Cramer, host of "Mad Money," on his October 28, 2008 broadcast. Cramer cited cost benefits and the reduction of the risk of loss of life in the military within the context of Obama's support of UAVs, and stated, "While Obama might not support all defense spending, he supports Unmanned Aerial Vehicles."
Leinwand added: "We continue to work towards out stratospheric flight goals and become more involved in the UAV opportunities that exist today, and future plans for emergency preparedness, communications, and our country's protection."
About Sanswire Corp.
Sanswire develops and provides an integrated suite of aerospace communications products and services, leveraging its relationships with leaders in UAV (Unmanned Aerial Vehicle) technologies. Sanswire is focused on the design and construction of various aerial vehicles capable of carrying payloads that provide persistent surveillance and security solutions at various altitudes. For additional information, please visit www.sanswire.com.
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, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, 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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