Released October 8th, 2019
EA Armament & Surveillance Technologies Inc. (EATech), of New York State, filed their second Form 4 with the US SEC on October 7th, 2019. The filing indicated the company had acquired a 19% stake in American Defense Systems Inc., (ADFS), a publicly traded defense contractor, formerly based in Long island, New York
The company’s filings further indicated they are resolved to protect their investment by ensuring all regulatory compliance at the Federal, State and trading board levels.
There was a particular reference to a Board Resolution that EATech should serve as the “Acting General Manager” of ADFS until such a time as a shareholders meeting could be assembled, a new Board of Directors elected, and a strategic review of the company’s potential conducted.
EATech is a wholly owned subsidiary of “EA Technologies Ltd. (Nigeria)”, Africa’s first indigenous governmental-advisory, supply and training enterprise, which designs and develops holistic, integrated, equipment and infrastructure for law-enforcement, peace-keeping, security and defense. We have harnessed and refined over fifty years of global experience in these industries to provide the products and services that were previously only available from limited foreign sources.
Certain statements in this report; statements relating to the development, production, production rates, features and timing of existing and future products and technologies; statements regarding growth in the number of service centers and locations and in other service and repair capabilities; statements regarding growth of our energy business and the means to achieve such growth; statements regarding growing market opportunities for EATech or ADFS products and the catalysts for that growth; statements regarding product demand, volume, production, delivery, and market share; statements regarding revenue, cash availability and generation, cash flow, gross margin, product pricing, spending, capital expenditure and profitability targets; statements regarding productivity improvements, cost reductions and capacity expansion plans, such as for customer deliveries, logistics and vehicle servicing; statements regarding the EATech Production center in Ikeja, Lagos Nigeria, and timing of a future production center in Abuja, FCT, Nigeria, including cost, project financing and timing, plans and output expectations, including those related to the launch of new technologies; and statements regarding our investment in and the impact of changes to our customer delivery infrastructure, are “forward-looking statements” that are subject to risks and uncertainties.
These forward-looking statements are based on management’s current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: the risk of delays in the manufacture, production, delivery and/or completion of our products and product features, including our autonomous features; our ability to grow our production, sales, delivery and servicing capabilities, and manage future growth effectively, especially internationally; law enforcement and military willingness to adopt new technologies generally and our ability to design and grow simultaneous and separate market acceptance of and demand for our future models; the ability of suppliers to meet quality and part delivery expectations at increasing volumes, especially with respect to our high-volume models; our ability to sustain and further grow our ramp of product component production; our ability to bring online and ramp new production centers in accordance with our plans; any failures by EATech or ADFS products to perform as expected or if product recalls occur; our ability to continue to reduce or control manufacturing and other costs; competition in the military and energy product markets generally and the alternative fuel market in particular; our ability to execute on our evolving strategy for product sales, service, charging and other customer infrastructure; the unavailability, reduction or elimination of government and economic incentives for drones and energy products; potential difficulties in performing and realizing potential benefits under definitive agreements for our existing and future manufacturing facilities; our ability to attract and retain key employees and qualified personnel; our ability to maintain the security of our information and product systems; our compliance with various regulations and laws applicable to our operations and products, which may evolve from time to time; risks relating to our indebtedness and financing strategies; and adverse foreign exchange movements.
More information on potential factors that could affect our financial results is and/or will be included from time to time in our Securities and Exchange Commission filings and reports. EATech disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Investor Relations Contact:
Mr. Theophilus Izobofolo, Director of Strategic Investments; email@example.com