CLEARWATER, Fla., April 21, 2011 (GLOBE NEWSWIRE) -- ALAS Defense Systems, Inc. (Pink Sheets:VDSC) an international project financing and holding investment corporation, is announcing that, to set the foundation in order to expand and diversify the activities in different segments of profitable business, will change the name to ALAS International Holdings, Inc. which will better reflect the overall diversified business activities. Mr. Salmon, CEO stated, "As a holding company we feel that it is important that our corporate name does not indicate a single specific industry."
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 dollar a year worldwide market demand for UAV's. 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