I look forward to updating our shareholders with additional developments and revenue opportunities in the near future.
Exton, PA (PRWEB) September 8, 2009
Defense Solutions Holding, Inc. (OTC Bulletin Board: DFSH), announced today that it has cancelled plans for the previously announced reverse split of its common stock which was part of company restructuring to raise capital in anticipation of significant new contracts.
Defense Solutions, Inc., a wholly owned subsidiary of DFSH, has primarily supplied armored combat vehicles to international customers friendly to United States' interests. In 2005, Defense Solutions supplied 77 refurbished main battle tanks and other armored vehicles to the Iraqi Army under contracts with NATO, the Iraq Defense Ministry, and the US Army. Since then, Defense Solutions entered into joint development agreements with firms in Ukraine and Macedonia to produce the NATO-compatible armored personnel carrier, the BTR-4; and joint development agreements with firms in France, Ukraine, Macedonia, Jordan and the United States to supply main battle tanks to Thailand's Army. A decision on that competition is expected early in 2010.
"The reverse stock split is no longer necessary or in our shareholders best interest," stated Colonel (Ret) Timothy Ringgold, CEO of DFSH. "I look forward to updating our shareholders with additional developments and revenue opportunities in the near future."
About Defense Solutions:
Defense Solutions Holding, Inc. is headquartered in Exton, PA with offices on four continents. Established in 2001, Defense Solutions' founding corporate philosophy was to deliver the world's best solutions to military members so they can perform their jobs with minimal risk. Defense Solutions has worked for Federal and State departments and agencies, the White House, and international allied organizations including the Iraq's Defense Ministry, NATO, and the Multi-National Force in Iraq to devise and implement strategies supporting armed forces and civilian programs. Many of these programs directly support US and allied soldiers in combat.
For more information visit: http://www.ds-pa.com.
Certain matters discussed in this release may constitute "forward-looking statements." Actual results and the timing of certain events may differ materially from those indicated by such forward-looking statements due to a variety of risks and uncertainties, many of which are beyond Defense Solutions' ability to control or predict, including, but not limited to, risks and uncertainties outlined in reports filed by Defense Solutions with the Securities and Exchange Commission.
The statements made herein are made as of the date of this release, and Defense Solutions undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements contained in this press release, and Defense Solutions undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.