We are excited about restructuring the firm and its new name, DefCom Holding, Inc.,-- a name which more accurately reflects the scope of our business activities, commented Colonel (Ret) Timothy Ringgold, CEO of DFSH.
Exton, PA (PRWEB) August 24, 2009
Defense Solutions Holding, Inc. (OTC Bulletin Board: DFSH - News), announced today that both the Board of Directors and a majority of shareholders of DFSH have approved a 15 for 1 reserve spit of its common stock, restructuring the company's capital structure in order to raise capital in anticipation of new contracts. Additionally, the company will change its name to DefCom Holding, Inc. to reflect the firm's recent expansion into commercial as well as defense related projects.
Defense Solutions, Inc., a wholly owned subsidiary of DFSH, has primarily been a supplier of armored combat vehicles to international customers friendly to United States' interests. In 2005, Defense Solutions, Inc. supplied 77 refurbished T-72 main battle tanks to the Army of Iraq under contracts with the Iraqi Ministry of Defense, NATO, and the US Army. Since then, Defense Solutions has 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 a new generation of main battle tanks to Thailand's Army. A decision on that competition is expected in the Spring of 2010.
Earlier this year, Defense Solutions, Inc. announced that it has expanded its service offering in the energy field to include the brokering of Iraqi petroleum products and the marketing of solar products, particularly street lights, in Iraq. More recently, Defense Solutions, Inc. entered agreements with firms in Jordan, Thailand, and the United States related to the commercialization of previously developed defense technologies. The new name DefCom Holding, Inc. is recognition of the firms' expanded mission statement and opportunities.
"We are excited about restructuring the firm and its new name, DefCom Holding, Inc.,-- a name which more accurately reflects the scope of our business activities, commented Colonel (Ret) Timothy Ringgold, CEO of DFSH. "Our reverse stock split decreases the number of outstanding shares of the corporation and increases the share price proportionately without changing the shareholders' equity. These changes will become effective when approved by Financial Industry Regulatory Authority (FINRA)." Colonel Ringgold added.
About Defense Solutions:
Defense Solutions Holding, Inc. is headquartered in Exton, PA with offices on three 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 US 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. Defense Solutions' European office maintains exclusive agreements with European partners to deliver world-class technologies and capabilities to US and allied nations to include new production and retrofit of armored and combat vehicles, spare parts, and ammunition, supported by end-to-end integrated logistics, training, and maintenance solutions.
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.
Defense Solutions Holding, Inc.