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American Defense Systems, Inc. (AMEX: EAG), a provider of
advanced transparent as well as opaque armor, architectural hardening
and security products for the defense and homeland defense markets,
announced today that the Company has been approved for listing on the
American Stock Exchange (Amex). Shares of American Defense Systems’
common stock began trading today on the Amex under the ticker symbol EAG.
Mr. Anthony J. Piscitelli, Chairman & Chief Executive Officer of
American Defense Systems, Inc., stated, “Today
marks an important milestone for ADSI as our listing on the American
Stock Exchange opens new opportunities for us as we embark on our next
stage of growth as a publicly held company. Following the successful
closing of a $15 million round of capital financing in March and April
2008, we believe that our new Amex listing will effectively serve ADSI
in helping to meet our long-term financial and strategic objectives. The
Amex’s flexible trading environment, we
believe, will allow ADSI to gain increased visibility within the
investment community, provide additional access to capital, as well as
increase brand recognition among new and existing customers and
partners. We are excited to be working with the Amex team as we look to
expand our presence in the markets for armor and physical security.”
The specialist firm for American Defense Systems, Inc. is J. Streicher &
Co. LLC.
About American Defense Systems, Inc. “ADSI”
American Defense Systems, Inc. “ADSI”
offers advanced solutions in the design, fabrication, and
installation of transparent and opaque armor, security doors, windows
and curtain wall systems for use by military, law enforcement, homeland
defense and corporate customers. ADSI engineers also specialize in
developing innovative, functional and aesthetically pleasing security
applications for the mobile and fixed infrastructure physical security
industry.
For more information about American Defense Systems, Inc. please visit
the corporate Web site at http://www.adsiarmor.com.
Some of the statements made by American Defense Systems, Inc. (“ADSI”)
in this press release, including, without limitation, statements
regarding ADSI’s anticipated future growth,
are forward-looking in nature. ADSI intends that any forward-looking
statements shall be covered by the safe harbor provisions for such
statements contained in the Private Securities Litigation Reform Act of
1995. Statements that are predictive in nature, that depend upon
or refer to future events or conditions, or that include words such as “may,”
“will,” “should,”
“expects,” “anticipates,”
“intends,” “plans,”
“believes,” “estimates,”
“predicts,” “potential,”
“continues” and
similar expressions are forward-looking statements. ADSI cautions you
that forward-looking statements are not guarantees of performance. ADSI
undertakes no obligation and disclaims any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise. Forward-looking statements
involve known and unknown risks and uncertainties that may cause ADSI’s
actual future results to differ materially from those projected or
contemplated in the forward-looking statements. ADSI believes that these
risks include, but are not limited to: ADSI’s
reliance on the U.S. government for a substantial amount of its sales
and growth; decreases in U.S. government defense spending; ADSI’s
ability to contract further with the U.S. Department of Defense; ADSI’s
ability to comply with complex procurement laws and regulations;
competition and other risks associated with the U.S. government bidding
process; changes in the U.S. government’s
procurement practices; ADSI’s ability to
obtain and maintain required security clearances; ADSI’s
ability to realize the full amount of revenues reflected in its backlog;
ADSI’s reliance on certain suppliers; and
intense competition and other risks associated with the defense industry
in general and the security-related defense sector in particular. Additional
information concerning these and other important risk factors can be
found under the heading “Risk Factors”
in ADSI’s filings with the Securities and
Exchange Commission, including, without limitation, its registration
statement on Form 10. Statements in this press release should be
evaluated in light of these important factors.