ADCF .121
8:30a ET February 17, 2012 (Market Wire)
Advanced Defense Technologies, Inc. (PINKSHEETS: ADCF), announced today it has signed a joint venture with North Carolina based Halberd Corporation to build next generation drones and UAVs. The joint venture focuses on short and long range drones/UAV for both defense and commercial markets. Global spending on drones is forecast to nearly double in the next decade, growing to $11.3 billion a year according to industry research firm Teal Group.
The joint venture combines ADTI's and Halberd's core technologies to develop a cost-effective, next generation drone and UAV system. The payload system will utilize ADTI's microwave/millimeter-wave circuits, subsystems and system designs including wideband phased array antenna designs, T/R modules, transceivers, electronically steered antennas (ESA), and wideband RF antenna systems. The aircraft systems will utilize Halberds short and long-range Unmanned Aircraft and drone technology incorporating advanced composite construction techniques and ultra light materials. The combined Companies will be delivering flexible, mission specific drones and UAVs that will perform various simple and complex missions.
R.S. Tahim, President and CEO of Advanced Defense Technologies, Inc., stated, "The joint venture allows ADTI to move forward quickly and produce mission specific drones in a cost effective and timely manner. We have already set up a team comprised of members of both companies and we are currently strengthening the team with other leading scientists and technology partners. We feel confident this collaborative approach will expand the capabilities of the system and also expedite our ability to close revenue generating contracts."
About Halberd Corporation Halberd Corporation is a manufacturer of both short and long-range Unmanned Aircraft. Our UAV's are intended for both private and governmental use in such diverse industries as military, oil and gas, municipal, meteorological, forestry, agriculture and coastal/border surveillance. For more information regarding Halberd go to: halberdcorp.com
About Advanced Defense Technologies Advanced Defense Technologies (ADTI) develops systems and technologies for the military defense and homeland security industry. The Company's system design technology has been developed under several SBIR Programs with Government Agencies including NASA, DARPA, a prestigious defense contractor (Phillips Labs), and the US military (USAF, ARMY, NAVY and MDA). For more information regarding ADTI go to: www.theadti.com
52-Wk Range .0001 - .66
ADCF Security Details
Share Structure
| Market Value1 | $11,831,500 | a/o Feb 17, 2012 |
| Shares Outstanding | 97,780,991 | a/o Jan 26, 2012 |
| Float | 11,319,990 | a/o Jan 26, 2012 Could be tradeable Monday on-watch |
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