Flight Technologies, Inc. AWSM Technology Update
07 Novembre 2006 - 10:34PM
Business Wire
Flight Safety Technologies, Inc. (AMEX:FLT) Chairman Samuel A.
Kovnat announced on November 6, 2006 during an interview in Wall
Street.Net an update to the Company's schedule for testing of AWSM.
The current schedule calls for initial AWSM emulation demos
commencing in December, 2006. These initial demos are planned as
"canned emulations", that is, based on aircraft arrival data
previously recorded by Socrates and Lidar sensors, during the
September 2005 tests at Denver International Airport. These
emulation demos will also involve aircraft wake predictions which
are being developed, and will be provided by NASA, and the
emulation is intended to demonstrate how these predictions will be
validated by the sensors. If these canned emulation demos prove
successful, the Company plans to conduct what it refers to as "live
emulation" demos commencing in the spring and summer of 2007.
Although the Company is continuing to seek further government
funding, Mr. Kovnat confirmed it is committed to completing these
demos within its budgeted investment planning, using some of its
internal resources which are more than adequate for this purpose.
Mr. Kovnat also announced that the Company has received
"expressions of interest" from U.S. Airports including Anchorage,
Las Vegas, Honolulu, Miami and Memphis to explore "beta site"
installations of the Company's AWSM technology. AWSM, an acronym
for Aircraft Wake Safety Management System, is a technology the
Company is pursuing as an outgrowth of its SOCRATES� Aircraft Wake
Vortex Sensor technology. Additionally, Emirates Airlines in Dubai,
United Arab Emirates has expressed interest in exploring a beta
site AWSM installation. Emirates Air has given the company runway
utilization data which the Company has utilized in a software
program that will produce a business case cost/benefit analysis as
a decision tool for Emirates Airlines' evaluation of the Company's
AWSM technology. The ability of the Company to proceed on any beta
site installations of AWSM technology depends on many factors,
including further successful development and testing of AWSM and
procurement of funding and various governmental approvals. There
can be no assurance the Company will succeed in such testing or
obtaining such funding or approvals. A complete transcript is
available on the website of the Company at www.flysafetech.com.
About Flight Safety Technologies, Inc. Flight Safety Technologies,
Inc. is a development stage company pursuing advanced technologies
aimed at enhancing safety, security and efficiency for the aviation
industry. The Company is currently pursuing three technologies
called SOCRATES�, UNICORN� and TIICM�: SOCRATES� is an airport
based laser acoustic sensor for the detection and tracking of wake
vortex turbulence. UNICORN� is an airborne radar for collision
avoidance using state of the art components to achieve low cost,
small size and light weight. TIICM� is an airborne passive
countermeasure system to protect airliners against the threat of
certain terrorist missile attacks. "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 pending class action litigation alleging
violations of federal securities laws, pending litigation
challenging our rights to TIICM�, whether the government will
implement WVAS at all or with the inclusion of a SOCRATES� 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 Technologies, Inc. (AMEX:FLT) Chairman Samuel A.
Kovnat announced on November 6, 2006 during an interview in Wall
Street.Net an update to the Company's schedule for testing of AWSM.
The current schedule calls for initial AWSM emulation demos
commencing in December, 2006. These initial demos are planned as
"canned emulations", that is, based on aircraft arrival data
previously recorded by Socrates and Lidar sensors, during the
September 2005 tests at Denver International Airport. These
emulation demos will also involve aircraft wake predictions which
are being developed, and will be provided by NASA, and the
emulation is intended to demonstrate how these predictions will be
validated by the sensors. If these canned emulation demos prove
successful, the Company plans to conduct what it refers to as "live
emulation" demos commencing in the spring and summer of 2007.
Although the Company is continuing to seek further government
funding, Mr. Kovnat confirmed it is committed to completing these
demos within its budgeted investment planning, using some of its
internal resources which are more than adequate for this purpose.
Mr. Kovnat also announced that the Company has received
"expressions of interest" from U.S. Airports including Anchorage,
Las Vegas, Honolulu, Miami and Memphis to explore "beta site"
installations of the Company's AWSM technology. AWSM, an acronym
for Aircraft Wake Safety Management System, is a technology the
Company is pursuing as an outgrowth of its SOCRATES(R) Aircraft
Wake Vortex Sensor technology. Additionally, Emirates Airlines in
Dubai, United Arab Emirates has expressed interest in exploring a
beta site AWSM installation. Emirates Air has given the company
runway utilization data which the Company has utilized in a
software program that will produce a business case cost/benefit
analysis as a decision tool for Emirates Airlines' evaluation of
the Company's AWSM technology. The ability of the Company to
proceed on any beta site installations of AWSM technology depends
on many factors, including further successful development and
testing of AWSM and procurement of funding and various governmental
approvals. There can be no assurance the Company will succeed in
such testing or obtaining such funding or approvals. A complete
transcript is available on the website of the Company at
www.flysafetech.com. About Flight Safety Technologies, Inc. Flight
Safety Technologies, Inc. is a development stage company pursuing
advanced technologies aimed at enhancing safety, security and
efficiency for the aviation industry. The Company is currently
pursuing three technologies called SOCRATES(R), UNICORN(TM) and
TIICM(TM): -- SOCRATES(R) is an airport based laser acoustic sensor
for the detection and tracking of wake vortex turbulence. --
UNICORN(TM) is an airborne radar for collision avoidance using
state of the art components to achieve low cost, small size and
light weight. -- TIICM(TM) is an airborne passive countermeasure
system to protect airliners against the threat of certain terrorist
missile attacks. "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 pending class action litigation alleging violations of
federal securities laws, pending litigation challenging our rights
to TIICM(TM), 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.
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