CLEARWATER, Fla., Feb. 4, 2011 (GLOBE NEWSWIRE) -- ALAS Defense Systems, Inc. (Pink Sheets:VDSC) today announced that its attorneys and auditors are moving ahead and in the final stage of their preparation for filing the required documents with the SEC and expect to be current with SEC Reporting requirements.
Edwin Salmon, CEO of ALAS Defense Systems, Inc., noted that "The completion of the audit and filing with the SEC represents a major step toward becoming a fully reporting company and will enhance our ability to move forward with our business plan. With the completion of the required filings, we expect to be eligible to move to a higher exchange."
About ALAS Defense Systems, Inc.:
ALAS Defense Systems, Inc. is a holding company which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. ( http://www.redtidedefense.com/ ), which is a manufacturer of UAV (Unmanned Aerial Vehicles). The Company has created an inexpensive and, it believes, technically superior solution to the growing $6 billion a year worldwide market demand for UAVs. The Company is looking to grow both organically and through strategic acquisitions.
Safe Harbor Act Disclaimer: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Investor Relations Edwin Salmon 727-736-4724 edwin.salmon@gmail.com