Halberd Corporation has received a Letter of Intent from Parente Capital and Churchill Prima Fund regarding business and expansion capital. The purpose of the capital extended will be refinancing Halberd’s manufacturing facility and enhance exist cash flow commercial warehouse in Concord, North Carolina as well as a revolving ine for production and to facilitate future acquisitions.

Additionally Parente Capital and Churchill Prima Fund have partnered with Halberd to offer their financing for Halberd’s clients to contract UAS services and technology carried by Halberd platforms. This allows individuals and companies without access to the vast resources of the military and other government agencies to be able to pay for technologies needed to perform the complex missions utilizing Halberd’s UAS platforms. The insurance offered allows users to replace equipment should a loss occur.

Halberd is continuing negotiations with industry partners and various government agencies to broaden the company’s depth in the UAS market.

Halberd’s UAS service is exploring the Precision Agriculture Industry. After January 2013 the FAA will allow for UAS platforms to weigh 55lbs which increases the payload capacity for Electronic Optics and Infra Red technology required for agricultural applications.

Halberd’s President Reuben Lowing states that he believes the company is in a stronger position to move ahead with long made plans the enter the UAS market based on the letter of intent from Churchill Prima Fund.

This arrangement with Parente Capital and Churchill Prima Fund will benefit Halberd’s recent Joint Venture with Advanced Defense Technologies Inc. stock symbol (ADCF)