$HALB
Halberd Corporation
Oct 09, 2012
OTC Disclosure & News Service
Las Vegas, NV -
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)
Halberd Corporation is a provider of Unmanned Aerial Systems UAS services, we have the technology, equipment, the expertise and the manpower to service all UAS needs world wide. LIDAR technology for surface and corridor mapping, high tension power line and cell tower inspection and maintenance, high resolution optics and inferred for precision agriculture and wire area aerial surveillance applications. Our services leverage the stateof the art technologies with support without the burden of hiring, training and maintaining a new division of a business or department just for UAS operations,we provide all of these contract services. All UAS devices will include sense and avoid components, ballistic parachutes, recovery plan in the case our UAS platform goes down over water, on the side or a mountain or in trees. We also provide insurance coverage for any damage caused by our UAS platforms while employed for contract operation.
Safe Harbor Statement
This press release contains statements, which may constitute"forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Advanced Defense Technologies, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
