DALLAS, July 24, 2008 (PRIME NEWSWIRE) -- Tactical Air Defense Services, Inc. (OTCBB:TADF) is pleased to announce that it has retired 10 million shares of its Common Stock issued to Air-1 Flight Support, Inc. without consideration in 2007.
Mark Daniels, the CEO and founder of TADF, said, "The retirement of 10 million shares issued to Air-1 Flight Support is another important step in the restructuring of TADF's capital structure which began in June with the agreement reached between TADF and its creditors to convert all outstanding debt and cancel all outstanding warrants. We believe that the removal of debt and the retirement of stock will greatly assist us to raise additional capital and move forward our business strategy."
TADF offers air combat training, ground-threat support, mid-air refueling, aerial water-bombing, and specialty aerial services to the U.S. and foreign militaries and other state and federal agencies.
The Company has been pursuing additional government contracts while working to secure the capital necessary to execute its business strategy.
Additional information is available by going to the company's 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.