Flight Safety Technologies DIA Update
13 Février 2006 - 10:00PM
Business Wire
Flight Safety Technologies, Inc. (AMEX:FLT) announced that during
the New Years holiday weekend, a break in and vandalism occurred at
the SOCRATES(R) test site at Denver International Airport (DIA). In
addition to the theft of computers and displays, the perpetrators
activated fire extinguishers, which caused damage to electronics
and optical components. Following inspection by our insurance
adjusters, we have begun the process of cleaning the electronics
and refurbishing optical components. Plans are for DIA site
operations to restart in mid April 2006, with enhanced on-site
security. In the meantime, engineering development to prepare a
Wake Vortex Avoidance System (WVAS) emulation has continued without
interruption. To support these efforts, the U.S. DOT/Volpe National
Transportation System Center has approved Task Order No. 2 and
funding in the amount of $1,409,025 has been added to our current
contract effective January 27, 2006. If WVAS emulation and
integration with the refurbished SOCRATES(R) equipment is
successful, and subject to government approval, we plan to invite
potential users to participate in demonstrations of the system,
starting in late summer of 2006. There can be no assurance that
this additional funding will be sufficient to complete the
emulation, or that further government funding will be available or
that the testing will be successful or occur on schedule. About
Flight Safety Technologies, Inc. The company is currently
participating in three advanced technology development efforts
aimed at enhancing aviation safety, security, and efficiency. In
addition to its SOCRATES(TM) airport based technology for wake
vortex detection, the company is working on UNICORN(TM) airborne
collision avoidance radar initiative and TIICM(TM) technology for
protection of airliners against certain terrorist missiles. "Safe
Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward looking statements
identified by the use of words such as should, believes, plans,
goals, expects, may, will, objectives, missions, or the negative
thereof, other variations thereon or comparable terminology. Such
statements are based on currently available information which
management has assessed but which is dynamic and subject to rapid
change due to risks and uncertainties that affect our business,
including, but not limited to, the outcome of an informal inquiry
by the SEC that appears to be in connection with certain analysts
reports about us and our press releases, the outcome of pending
class action litigation alleging violations of federal securities
laws, whether the government will implement WVAS at all or with the
inclusion of a SOCRATES(R) wake vortex sensor, the impact of
competitive products and pricing, limited visibility into future
product demand, slower economic growth generally, difficulties
inherent in the development of complex technology, new products
sufficiency, availability of capital to fund operations, research
and development, fluctuations in operating results, and other risks
detailed from time to time in Flight Safety Technologies, Inc.'s
filings with the Securities and Exchange Commission. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, goals,
assumptions or future events or performance are not statements of
historical fact and may be forward looking statements. Forward
looking statements involve a number of risks and uncertainties
which could cause actual results or events to differ materially
from those presently anticipated.
Flight Safety (AMEX:FLT)
Graphique Historique de l'Action
De Jan 2025 à Fév 2025
Flight Safety (AMEX:FLT)
Graphique Historique de l'Action
De Fév 2024 à Fév 2025