WEST PALM BEACH, Fla., Jan. 13, 2009 (GLOBE NEWSWIRE) -- Tactical Air Defense Services, Inc, (OTCBB:TADF) a military contractor that offers air combat and pilot training, mid-air refueling, specialty aerial services, ground-threat support, and aerial fire-fighting services, to the U. S. and Foreign Militaries and to other Federal and State Agencies, is pleased to announce that it has received shareholder approval, at our annual meeting of shareholders, to change our name to Aerogroup Incorporated and to enact a Reverse Stock-Split of 1-for-10, subject to FINRA notification for assignment of an ex-dividend date.
The original Aerogroup Incorporated, a private company with which TADF executed an asset purchase agreement in 2006, is a recognized leader in air combat training, having conducted training for the U.S. Navy, and the Canadian, British, Dutch, and Belgian Air Forces. Mark Daniels, CEO and founder of both TADF and Aerogroup states, "We believe the name change to Aerogroup and the Reverse Stock-Split will better reflect our operational experience, our execution capabilities, and the business infrastructure we have built over the last few years, and will lead to increased shareholder value."
The Company anticipates the Name Change and Reverse Stock-Split becoming effective within the next few weeks.
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.