CARSON CITY, Nev., May 24, 2010 (GLOBE NEWSWIRE) -- The Chief Executive Officer of Tactical Air Defense Services, Inc. (OTCBB:TADF), an Aerospace/Defense Services contractor, has issued a Shareholder Update to further explain previously disclosed recent material events.
SHAREHOLDER UPDATE-MAY 24, 2010
In light of the exciting events that have recently taken place with Tactical Air Defense Services, Inc. ("TADF"), TADF will be issuing a series of Shareholder Updates to summarize and clarify some of these events. We believe our shareholders are our most valuable asset, and that the better informed and educated they are about our business, the more they will believe in and support the future success of TADF in the same they way that TADF management does.
This first Shareholder Update will attempt to clarify and explain the implications of the most recent material event to take place; the execution of a Letter of Intent for TADF to acquire (the "Acquisition") Tactical Air Support, Inc. ("TAC AIR"), as disclosed in an SEC Form 8-K filing last Friday, the 21st of May, 2010 by TADF.
TADF management believes the Acquisition of TAC AIR (www.tacticalairsupport.com) brings to TADF the ingredients to make the combined entity a dominant player in the private-sector Aerospace/Defense Services industry, an underserved industry with rapid growth potential and little competition.
Understanding who the members are of the impressive management team and employee roster that TAC AIR has assembled over the last five years, and who will in large part be running the post-Acquisition business, is the first step to understanding who we will be post-Acquisition, and what we will be capable of:
- The President of TAC AIR, Rolland C. Thompson, who will replace Alexis C. Korybut as CEO post-Acquisition, was, in addition to many other significant accomplishments and leadership positions, the Commanding Officer of TOPGUN, widely recognized as the most prestigious advanced fighter weapons school in the world, and Commander of a Carrier Air Wing supporting Operation Enduring Freedom.
- The Management and Employee team of TAC AIR currently consists of 15 very accomplished and experienced military veterans who have been leaders within the military establishment and corporate industry.
- Please take the time to fully understand the impressive biographies of Rolland C. Thompson and TAC AIR's management team in the bios section of TAC AIR's website www.tacticalairsupport.com/company_bios
In addition to the all-star management team, the post-acquisition TADF brings together a very strong Board of Directors including:
- Rolland C. Thompson, Director and Chief Executive Officer. Please see Mr. Thompson's bio at www.tacticalairsupport.com/company_bios
- Alexis C. Korybut, Director and Chief Financial Officer. Among other accomplishments, Mr. Korybut is an experienced investment banker and financial professional having worked at Salomon Brothers (now part of Citigroup) and having built Sterling Financial Group of Companies into, according to Inc. Magazine in 2008, the 8th fastest growing privately-held company in the U.S. doing over $34 million in annual revenues in only a few short years. Please see Mr. Korybut's bio on the TADF website at www.tads-usa.com/management_alexis.html
- General Ronald R. Fogleman (retired), Director: Among other significant accomplishments, General Fogleman was the Chief of Staff (head) of the U.S. Air Force, and a member of the Joint Chiefs of Staff of the Unites States, the exclusive group of military leaders of the U.S. Armed Forces that advises the government and the President of the United States. Please see General Fogleman's bio on the website of the U.S. Air Force at www.af.mil/information/bios/bio.asp?bioID=5434
In additional to its unsurpassed Management and Employee team, TAC AIR brings to post-Acquisition TADF the following significant attributes:
- Contracts: TAC AIR has current flying and consulting contracts with the U.S. Department of Defense and commercial customers.
- Revenues: TAC AIR has current revenues from government and commercial contracts.
- Aircraft: Through its minority ownership of a related company that buys military aircraft to lease back to TAC AIR for deployment in its flying contracts, TAC AIR has partial ownership and use of a small but growing fleet of military aircraft. Please see www.tacticalairsupport.com/aircraft for details of the aircraft.
- Pipeline: TAC AIR has a pipeline of potential contracts with both the U.S. and foreign-allied militaries (although no assurances can be given that any of these potential contracts will result in a final award of a contract).
- Trackrecord: TAC AIR has a trackrecord of operational excellence and success.
The vision and strategy of post-Acquisition TADF is built upon the premise that the current level and business model of defense spending is unsustainable. The high-tech costs associated with the operation and maintenance of fighter aircraft, and the concurrent cost of pilot training have spiraled to staggering levels. In addition, the current practice of using U.S. military units to train international students is also taking a toll on our Armed Forces and aircraft, and has left some allied countries without access to adequate training for their Air Forces.
We believe that providing sound business principles and practices to our military and foreign-allied militaries will create tremendous efficiencies and allow badly needed cost savings. Our business model is built around austerity where the less money available to the military, the more attractive our services become because this void can only be filled by a private-sector entity with the skills, experience, and understanding of a company such as post-Acquisition TADF.
As such, our vision is simple; establish a world-class private-sector military aviation services organization providing tactical aviation training, consulting, and maintenance support for both commercial and Government/Military entities. As former TOPGUN and Air Force Weapon's School instructors, TAC AIR has taken a page from the military's handbook: become a center of excellence in all that we do. Post-Acquisition TADF will be a company composed of experts who we believe know the tactical aviation arena better than any other private-sector company, and will be capable of providing support to the military and commercial industry in tactics development, training, and evaluation, and to subject matter expertise as applied to weapons systems and deployment.
Specifically, TAC AIR has developed unique flying support services for the U.S. military and foreign-allied militaries that focus on emulating the threat rather than trying to exactly duplicate it. While threat emulation takes more innovation and effort, the end result can be significant cost savings for our customers. A case in point is the very basic L-29 aircraft that TAC AIR flies; adapting a U.S. engine with speed modifications learned from the Reno Air Races, we are able to produce an airplane with the exact performance characteristics of an A-10 or SU 25. We can do this all for a cost that is one tenth of an actual fighter.
Our approach to doing business is unique as well. Most of today's "business as usual" defense contracting companies are backward looking and focused on getting close to the military in order to shape a contract proposal to their advantage. We on the other hand, have built a classic low-end market disruption model specifically targeting those who don't know they can use or afford private-sector military aviation services. TAC AIR/post-Acquisition TADF on the other hand, will continue to use our extensive understanding of military training to examine cost savings changes in the way operations are being conducted, and then present a business proposal that outlines dollars saved and training enhanced. We believe this sort of common sense approach is the future of defense contracting.
In summary, we at TADF and TAC AIR are very excited about where we have taken these companies, but that exuberance is nothing compared to how we feel regarding where our combined companies are going.
Alexis C. Korybut
President and Chief Executive Officer
Tactical Air Defense Services, Inc.
Further information about TADS is available on our web site: www.tads-usa.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.