Defense Technology Systems (CE) (USOTC:DFTS)
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Defense Technology Rebuilds through 2005 and Enters Strategic
Relationship to Grow Aggressively with NewMarket Technology Inc. in
2006
Defense Technology Systems, Inc. (OTCBB:DFTS) today announced
Russell Medina as the new Chief Executive Officer. Mr. Medina's
appointment represents another landmark event in Defense Technology's
rebuilding and repositioning as a Homeland Security Innovator. Mr.
Medina will also join the Defense Technology Board of Directors.
Mr. Medina has consulted with NewMarket Technology Inc.
(OTCBB:NMKT) over the last two years and was instrumental in the
development of NewMarket's Homeland Security strategy that led to the
combination of NewMarket and Defense Technology's Homeland Security
operations earlier this year. Revenue from this acquisition will be
reflected in Defense Technology's upcoming Annual Report filing.
Mr. Medina brings a wealth of defense industry experience to the
Company as a retired career Army Officer and graduate of the United
States Military Academy at West Point, N.Y. His distinguished military
career is highlighted by his experience procuring special systems for
various projects with the Department of Defense (DoD) that included
integration with all military services, as well as other government
agencies. His military experience in battlefield communications led
him to a successful post-military telecommunications career
concentrated in the introduction of new products and services. Mr.
Medina has CEO experience with an emphasis in early financing of new
business ventures.
"Mr. Medina is the right choice to lead Defense Technology
Systems' repositioning as a Homeland Security Innovator," said Dan
McPhee, the outgoing CEO. "His military systems experience combined
with his background in high growth new ventures is the right set of
skills to lead Defense Technology in its next stage of development and
growth."
"I am excited to join Defense Technology's team," said Mr. Medina.
"The terrorist threat has changed defense strategies and the defense
system requirements to support new strategies. A need for a nimble
defense technology innovator has arisen. The Defense Technology team
has identified and repositioned for that need. I have the good fortune
of coming into a business already poised for rapid growth."
About Defense Technology Systems, Inc.
The Company has recently implemented a revitalization and
redirection plan to leverage its experience in providing digital
communication infrastructure solutions to Fortune 1000 companies and
expand into providing overall Homeland Security solutions to major
metropolitan municipalities. To accelerate the plan, Defense
Technology earlier this year acquired a majority interest in an
established defense engineering firm with 20 years of experience and a
portfolio of proprietary technologies. The acquired company is a
leading edge technology company specialized in engineering hardware
and software solutions when commercial-off-the-shelf (COTS) products
do not fulfill the critical requirements of enterprise, military or
government organizations. In the acquisition, Defense Technology also
established a strategic equity partnership with NewMarket Technology
Inc. (OTCBB:NMKT) expected to accelerate organic sales growth of
Defense Technologies products. Management intends to expand its
Homeland Security product portfolio through further acquisition. For
more information on Defense Technology Systems, Inc. visit:
www.DefenseTechnologySystems.com.
This press release contains statements (such as projections
regarding future performance) that are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result
of certain risks and uncertainties, including but not limited to those
detailed from time to time in the Company's filings with the
Securities and Exchange Commission.