On November 25th, 2019, the board of directors for EA Tech Nigeria met online and resolved to accept the CEO, Mr. Osita Iroku’s recommendation on the following strategies for the upcoming fiscal year. His report and the their respective resolutions have been summarized as follows:


”(1) EA Tech Nigeria: In Nigeria we have the company named EA Tech Nigeria (EA Armament & Surveillance Technologies Nigeria) and that company makes security and defense products and markets to the various government agencies.”

“We produce everything from armored vests to amored cars all the way up to new high tech military bases.”

“Moving forward, our payments from the client governments are expected to be in “euro bonds” that currently have junk bond rating of “B”; but we are confident of our off-takers for those already. The discount will be about 40-50%. So we are aiming to secure supply and service contracts valued above $1bn, to be executed over five years, to be able to net about $500m; Pay off debts; and continue to grow.“

“(2) EA Tech USA: Then in New York we have EA Tech USA (EA Armament & Surveillance Technologies USA) and that company doesn’t do anything but own shares in ADFS. It’s basically an asset holding company.”

“The last section of this part of the presentation is a review of the candidates we want to hire to be on the US board and run the US company; so EA Tech Nigeria will have a separate board and executive team from EA Tech USA.“

“The first section of this part of the presentation shows all the investment banks along the north east coast of the US that EA Tech USA will meet for funds, organized by our financial advisors in Connecticut.”

“So the plan for now is to raise $5m this year, $50m next quarter, and up to $250m by next December.”

“We plan and hope to be able to pay off the investors via a liquidity event resulting from a from a stock-split late next year; and also from selling our African government-issued “euro bonds” at a discount of 40-50%.”

“(3) ADFS: American Defense Systems will be supervised by EA Tech USA, until ADFS shareholders have elected a new board for ADFS; hopefully before March 2020.”

“ADFS will not produce anything, it will simply be a “marketing arm” of the EA Tech family.”

“EA Tech Nigeria plans to partner with ADFS to expand the reach of its resource procurement in Europe and Asia, and penetration into various African security and defense markets.”

“ADFS’ share of these revenues will be aimed at encouraging the capital appreciation of the stock, and not necessarily dividends; until and unless a new board of ADFS decides differently.”

All of the above statements and information are based on forward looking projections that have no basis in current realities whatsoever. None of these projections are guaranteed outcomes of any of the plans or actions contemplated herein. Anyone purchasing any of the stock of ADFS does so at their own risk, and should only do so based on their own conclusions from their own research.