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Nice find. The USAE story is going to reach more and more investors and sites like that do help increase exposure. The stock is bacically at an all-upside level here. This is really a no brainer buy for new investors who are just discovering USAE now.
Also, I like today's news as it again clearly shows that USAE has much more going on beyond the KC-X project.
hey guys I was looking around and found USAE as a featured profile here...
http://www.investinstockmarket.net/company-view.php?cid=95
should be interesting..... good volume today.... but got beat up a little but she did find support!!!!!
USAE
http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C344G3430
Oct. 14, 2010, 8:41 a.m. EDT · Recommend · Post:
AVIC International Holding Corporation Invites U.S. Aerospace, Inc. To Airshow China 2010
LOS ANGELES, Oct 14, 2010 (BUSINESS WIRE) -- U.S. Aerospace, Inc. (USAE 0.08, 0.00, 0.00%) , a U.S. aerospace and defense contractor, today announced that Supply Chain Management & Procurement of AVIC International Holding Corporation has invited the Company to attend the Eighth China International Aviation and Aerospace Exhibition, known as Airshow China 2010, held in Zhuhai City of Guangdong Province from Nov. 16 to Nov. 21, 2010.
Jim Worsham, CEO of U.S. Aerospace, Inc. commented: "We look forward to attending Airshow China 2010 and further strengthening our relationship with AVIC International Holding Corporation, as we discuss future orders and continue to develop the working relationship between our organizations."
U.S. Aerospace, Inc., entered into a Strategic Cooperation Agreement with Supply Chain Management & Procurement of AVIC International Holding Corporation (AVIC) of China. The agreement sets forth a framework for collaborating in the manufacture, importing and exporting of aircraft components and equipment. The agreement provides for the parties to bid on at least US $100 million in potential orders in the first year.
About Airshow China 2010
The China International Aviation and Aerospace Exhibition is the only international aerospace trade show in China that is endorsed by the central Chinese government. It features the display of real-size products, trade talks, technological exchanges and a flying display. Since 1996, the show has been successfully held in Zhuhai in every even-numbered year for seven sessions.
About AVIC International Holding Corporation
AVIC International Holding Corporation, based in Beijing, China, is a comprehensive multinational platform that owns 6 listed companies and 60 international offices with businesses in world aviation, commercial aircraft sales and service, international cooperation and subcontract production, global tendering and bidding, and many other areas. AVIC brings to bear the powerful manufacturing capabilities of the China aviation industry and over 30 years of aircraft manufacturing and sales experience. AVIC's accumulated import and export trade volume exceeds US $40 billion.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation , L-3 Communications Holdings, Inc. , the Middle River Aircraft Systems subsidiary of General Electric Company , and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company's website at http://www.USAerospace.com.
AVIC International Holding Corporation Invites U.S. Aerospace, Inc. To Airshow China 2010
LOS ANGELES--(BUSINESS WIRE)-- U.S. Aerospace, Inc. (OTCBB:USAE.ob), a U.S. aerospace and defense contractor, today announced that Supply Chain Management & Procurement of AVIC International Holding Corporation has invited the Company to attend the Eighth China International Aviation and Aerospace Exhibition, known as Airshow China 2010, held in Zhuhai City of Guangdong Province from Nov. 16 to Nov. 21, 2010.
Jim Worsham, CEO of U.S. Aerospace, Inc. commented: “We look forward to attending Airshow China 2010 and further strengthening our relationship with AVIC International Holding Corporation, as we discuss future orders and continue to develop the working relationship between our organizations.”
U.S. Aerospace, Inc., entered into a Strategic Cooperation Agreement with Supply Chain Management & Procurement of AVIC International Holding Corporation (AVIC) of China. The agreement sets forth a framework for collaborating in the manufacture, importing and exporting of aircraft components and equipment. The agreement provides for the parties to bid on at least US $100 million in potential orders in the first year.
About Airshow China 2010
The China International Aviation and Aerospace Exhibition is the only international aerospace trade show in China that is endorsed by the central Chinese government. It features the display of real-size products, trade talks, technological exchanges and a flying display. Since 1996, the show has been successfully held in Zhuhai in every even-numbered year for seven sessions.
About AVIC International Holding Corporation
AVIC International Holding Corporation, based in Beijing, China, is a comprehensive multinational platform that owns 6 listed companies and 60 international offices with businesses in world aviation, commercial aircraft sales and service, international cooperation and subcontract production, global tendering and bidding, and many other areas. AVIC brings to bear the powerful manufacturing capabilities of the China aviation industry and over 30 years of aircraft manufacturing and sales experience. AVIC’s accumulated import and export trade volume exceeds US $40 billion.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT), L-3 Communications Holdings, Inc. (NYSE: LLL), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company’s website at http://www.USAerospace.com.
Forward Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
Contact:
For U.S. Aerospace, Inc.
Media and Investor Relations
Richard Watkins, 386-409-0200
I totally agree with you! Boeing and Air Bus, move over cause there is a new Aerospace Sheriff coming to town! This puppy is at an indecently low price!
I can see what you mean by the quality. However I think this stock will run in the long run. Not sure on preferred shares?
I really agree. Try to find another fully reporting company with so much potential and such a small share stucture trading under .10 right now. If I were only going to own one stock at this level it would be USAE. I also think hiring Jim Worsham will prove to be one of the best developments here. He has top-level experience and connections in the global aerospace industry as was discussed in the interview we saw this week. Worsham will make things happen. That is why he is here.
This is the best buy in town! I just watched the live interview with Mr. Jim Worsham, CEO of USAE on the company's website. I think he is right-on and will deliver lucrative domestic and overseas contracts.
I think the quality of the interview was not convincing. The production seemed like it was done by high school students. The interview has confirmed my thoughts that Jim should not be ceo. I think his age plays a factor, and I don't think the Chinese may take him seriously. Sure he may have an impressive resume, but to be point man, I think USAE should bring in an air force guy and keep Jim as a board member. Im not questioning Jim's integrity, I just think that he shouldn't be doing this job, he should be playing bingo on wednesdays at the Moose.
On a side note, how many preferred shares does usae have?
U.S. Aerospace, Inc. Releases CEOLive Interview with CEO Jim Worsham
LOS ANGELES, Oct 11, 2010 (BUSINESS WIRE) -- U.S. Aerospace, Inc. (OTCBB: USAE), a U.S. aerospace and defense contractor, today posted a CEOLive video interview with Jim Worsham, Chief Executive Office of U.S. Aerospace.
This video interview is part of an ongoing series that will feature key members of the Company's Executive Team and Board of Directors addressing topics related to the aerospace industry and the Company's business operations and strategy.
To access the video interview please visit the U.S. Aerospace, Inc. - Social Media Newsroom at http://www.usaerospace.com.
The interviews are not intended to provide the first announcement of material information or developments about U.S. Aerospace. Instead, they will discuss matters previously announced through other channels or that are not themselves considered material information under securities laws, even though the matters may be important to shareholders.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT - News), L-3 Communications Holdings, Inc. (NYSE: LLL - News), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE - News), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company's website at http://www.USAerospace.com.
Forward Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
SOURCE: U.S. Aerospace, Inc.
CONTACT:
For U.S. Aerospace, Inc. Media and Investor Relations Richard Watkins, 386-409-0200
Copyright Business Wire 2010
-0-
KEYWORD: United States
North America
California
INDUSTRY KEYWORD: Manufacturing
Aerospace
Defense
Contracts
Other Defense
I agree. They are bidding on multiple projects, not all of which are in the USA. One multi-million dollar contract and this stock is GOLD! They have an experienced team, which is a key to success.
Days ahead.. weeks ahead... The short term. This company has international exposure, just because the USAF rejected their protest, doesnt mean other countries will. This publicity is HUGE. Especially that the chairman got some airtime with MSNBC. This stock is considerably undervalued. We should be north of a quarter, north of .50. If you really look at it and do the math. They have the product and they can sell the product. A contract will go for at least $100million. Take the os 32million times the current pps .08=2.5million and change. Sure it has debt, however the potential out weighs the negativity. I hope you understand where Im coming from. As soon as a contract is PR'd this will move.
USAE PR - FLASH AVIC International Holding Corporation Sends Delegation To U.S. Aerospace, Inc.Last update: 10/7/2010 8:32:00 AMFormal Signing Ceremony for Strategic Cooperation Agreement LOS ANGELES, Oct 07, 2010 (BUSINESS WIRE) -- --Senior Executives Begin Implementing Plan for Joint Business U.S. Aerospace, Inc. (USAE), a U.S. aerospace and defense contractor, today announced that senior executives from Supply Chain Management & Procurement of AVIC International Holding Corporation of China met in Southern California with the Company's senior management team for the official signing ceremony of the parties' Strategic Cooperation Agreement. The parties also began the process of implementing plans for the parties to jointly develop business opportunities. "AVIC is one of the world's leading aircraft companies, and we are very pleased to add their enormous manufacturing capabilities to our own," said CEO Jim Worsham. "We look forward to expanding our joint capacity to service U.S. based aerospace projects. Our cooperation with AVIC extends and deepens our strategic international relationships by providing a strong financial partner and a more comprehensive portfolio of solutions and services, all to the benefit of our customers in the U.S. and worldwide." Photographs of the contract signing ceremony are posted on the Company website at . About U.S. Aerospace, Inc. U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (LMT), L-3 Communications Holdings, Inc. (LLL), the Middle River Aircraft Systems subsidiary of General Electric Company (GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California. For further information please visit the Company's website at . Forward Looking Statements Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at . Except as required by law, the Company undertakes no obligation to update any information. SOURCE: U.S. Aerospace, Inc. For U.S. Aerospace, Inc. Media and Investor Relations Richard Watkins, 386-409-0200Copyright Business Wire 2010
AVIC International Holding Corporation Sends Delegation To U.S. Aerospace, Inc.
Formal Signing Ceremony for Strategic Cooperation Agreement
LOS ANGELES, Oct 07, 2010 (BUSINESS WIRE) -- --Senior Executives Begin Implementing Plan for Joint Business
U.S. Aerospace, Inc. (OTCBB:USAE), a U.S. aerospace and defense contractor, today announced that senior executives from Supply Chain Management & Procurement of AVIC International Holding Corporation of China met in Southern California with the Company's senior management team for the official signing ceremony of the parties' Strategic Cooperation Agreement. The parties also began the process of implementing plans for the parties to jointly develop business opportunities.
"AVIC is one of the world's leading aircraft companies, and we are very pleased to add their enormous manufacturing capabilities to our own," said CEO Jim Worsham. "We look forward to expanding our joint capacity to service U.S. based aerospace projects. Our cooperation with AVIC extends and deepens our strategic international relationships by providing a strong financial partner and a more comprehensive portfolio of solutions and services, all to the benefit of our customers in the U.S. and worldwide."
Photographs of the contract signing ceremony are posted on the Company website at http://www.USAerospace.com.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT), L-3 Communications Holdings, Inc. (NYSE: LLL), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company's website at http://www.USAerospace.com.
Forward Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
SOURCE: U.S. Aerospace, Inc.
CONTACT:
For U.S. Aerospace, Inc. Media and Investor Relations Richard Watkins, 386-409-0200
Copyright Business Wire 2010
-0-
KEYWORD: United States
North America
California
INDUSTRY KEYWORD: Manufacturing
Aerospace
Defense
Contracts
Other Defense
SUBJECT CODE: Contract/Agreement
good luck. it looks like a paper press
Game Over? Don't be RBAR.
This company is
a coiled spring.
It has more things in
the works than a 5lb
bag of Peanut M&Ms has nuts.
This may well turn into
another Microsoft. They
don't ha
ve to sell nearly
as many planes as MS has
to sell computers to
make billions. Hello?
BUY! BUY! BUY!
Game over? Your on drugs. This game has just begun. You will see much more interest in this company in the days ahead.
U.S. Aerospace Receives Notice from GAO
LOS ANGELES--(BUSINESS WIRE)-- U.S. Aerospace, Inc. (OTCBB:USAE.ob), a U.S. aerospace and defense contractor, today reported the Government Accountability Office (GAO) has denied Company’s bid protest in connection with the KC-X Tanker Modernization Project.
“We would like to thank the U.S. Air Force for providing us with the opportunity to bid, and the GAO for its review of the materials and circumstances which led to its decision,” said Director Michael Goldberg. “While we are disappointed with the outcome, we are pleased that the GAO determined that there is no evidence of any bias against working with international partners in bidding for U.S. military projects.”
U.S. Aerospace, Inc. filed the protest based on claims that its joint bid with Antonov Company of Ukraine was timely submitted and within the Air Force’s control before the deadline, and that their aircraft was the only one that meets all of the requirements of the request for proposal. The Company continues to believe that the AN-122KC offered the most capable aircraft at the most competitive price, thus benefiting both the American taxpayer and the American warfighter.
“This bid was only the first step in effectuating our ongoing long-term business strategy,” continued Goldberg. “Merely submitting our joint bid and participating in the process has created a sea change in how the global aerospace industry views globalization and working together with leading aircraft manufacturers around the world. We look forward to continuing to bid on major U.S. military projects, and to supplying cost effective, high quality aircraft alternatives for commercial airlines and freight companies seeking to purchase, replace or upgrade their fleets.”
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT), L-3 Communications Holdings, Inc. (NYSE: LLL ), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company’s website at http://www.USAerospace.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
Contact:
For U.S. Aerospace, Inc.
Media and Investor Relations
Richard Watkins, 386-409-0200
yup. GAME OVER. U.S. Aerospace Receives Notice from GAO
Oct 6, 2010 3:11:00 PM
Copyright Business Wire 2010
LOS ANGELES--(BUSINESS WIRE)-- U.S. Aerospace, Inc. (OTCBB:USAE), a U.S. aerospace and defense contractor, today reported the Government Accountability Office (GAO) has denied Company’s bid protest in connection with the KC-X Tanker Modernization Project.
“We would like to thank the U.S. Air Force for providing us with the opportunity to bid, and the GAO for its review of the materials and circumstances which led to its decision,” said Director Michael Goldberg. “While we are disappointed with the outcome, we are pleased that the GAO determined that there is no evidence of any bias against working with international partners in bidding for U.S. military projects.”
U.S. Aerospace, Inc. filed the protest based on claims that its joint bid with Antonov Company of Ukraine was timely submitted and within the Air Force’s control before the deadline, and that their aircraft was the only one that meets all of the requirements of the request for proposal. The Company continues to believe that the AN-122KC offered the most capable aircraft at the most competitive price, thus benefiting both the American taxpayer and the American warfighter.
“This bid was only the first step in effectuating our ongoing long-term business strategy,” continued Goldberg. “Merely submitting our joint bid and participating in the process has created a sea change in how the global aerospace industry views globalization and working together with leading aircraft manufacturers around the world. We look forward to continuing to bid on major U.S. military projects, and to supplying cost effective, high quality aircraft alternatives for commercial airlines and freight companies seeking to purchase, replace or upgrade their fleets.”
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT), L-3 Communications Holdings, Inc. (NYSE: LLL ), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company’s website at http://www.USAerospace.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
For U.S. Aerospace, Inc.
Media and Investor Relations
Richard Watkins, 386-409-0200
Source: U.S. Aerospace, Inc.
----------------------------------------------
For U.S. Aerospace
Inc.Media and Investor RelationsRichard
Watkins
386-409-0200
Actual Gao Decision here...
http://www.gao.gov/decisions/bidpro/bidpro7.htm
USAE Don't anybody get their Speedos in bunch over the GAO denying USAE's protest for the KC-Tanker contract bid.
USAE has already stated in writing that they will appeal any denial to Federal Court. I expect the GAO expedited their review of USAE's Protest to allow USAE to take their shot at getting a Federal Injunction to preclude the Air Force from having to do a do-over after awarding the contract to EDAS or Boeing in November. To get a Fed Court injunction, all USAE has to do is convince a Federal Judge that USAE had a good chance of prevailing in their Federal Appeal. The GAO would rather know up front if the Fed Court might look favorably on USAE's appeal before awarding the contract to on of the other bidders. The Air Force does not want to see USAE win their appeal after another Contractor starts work on the tanker. This would leave the Air Force faced with sever untenable situations. 1) They might have to tell the Contractor who won the contract to stop work or pay USAE extraordinary damages for monies USAE lost by losing the contract. 2) The Air Force would have to still compensate the first Contractor. 3) Boeing, EADS and USAE may file individual suits again the Air Force damages. 4) At a minimum, the Air Force would have to restart the entire bidding process, which would further delay them from filling their requirement for a new tanker.
News for 'USAE' - (DJ GAO Turns Down Protest By US Aerospace Over US Tanker Bid -CNBC)
The Government Accountability Office has denied a protest by U.S. Aerospace Inc. (USAE) over the rejection by the Defense Department of the California company's bid to build refueling tankers for the U.S. military, CNBC reports Wednesday.
The ruling leaves rivals Boeing Co. (BA) and European Aeronautic Defence & Space Co. (EAD.FR) as the remaining bidders for the $35 billion contract for 179 refueling planes.
U.S. Aerospace, which proposed building the tankers with Ukraine's state-owned Antonov Aeronautical Scientific/Technical Complex, has said the Pentagon refused to accept the proposal due to the timing of its delivery.
The GAO, the investigative arm of Congress, told CNBC on Wednesday that it would have a statement about the protest shortly. A decision on the awarding of the tanker contract could come as early as next month, the cable channel reports.
USAE sitting at support here she could be ready for another pop to the up side
Have they specified on a time frame for this project?
USAE has many aerospace projects to work on and bid for. It will be great if they are successful with the KC-X Tanker project but remember that is not everything to this company. The new partnership with AVIC is projected to bid on at least $100 million of new business in its first year alone.
Weak hands today... May have not so good news or maybe no news tomorrow concerning the US airforce acceptance of bid. Any thoughts?
Here's Jim Worsham in a video clip from 2009. We should all look and sound this good. This is not a guy who wants to retire.
Link:
The potential out ways the debt. All we need is one contract signed and we are looking at 300%
Don't want to sound negative, but how much of an advantage is it bringing an 80 year old in as a ceo? I think we need someone in their 50's. Honestly Jim should be retiring now and living in Boca Raton.
Another one of my little quiet gems. USAE has some debt but a lot of potential.
With all that Jim Worsham has accomplished in his career we can certainly expect him to make great things happen for USAE too. The USAE management team was impressive before Worsham joined the company. Now we have an aerospace "Dream Team". I am very much looking forward to the next developments here.
I like this one too.
ProfitScout' USAE is setting up the dominoes for a chain reaction of massive financial success!
Industry Veteran Jim Worsham New CEO of U.S. Aerospace, Inc.
President of Douglas Aircraft Company for 7 Years
Senior Executive of GE Jet Engines for 30 Years
LOS ANGELES--(BUSINESS WIRE)-- U.S. Aerospace, Inc. (OTCBB:USAE.ob - News), a U.S. aerospace and defense contractor, today announced that aerospace industry veteran Jim Worsham has agreed to serve as the Company’s Chief Executive Officer. Worsham developed and has served as head of Aviation Marketing and Business Development for the Southern California Logistics Airport (SCLA) for the last 10 years. From 1982 to 1989, he served as President of Douglas Aircraft Company for McDonnell Douglas Corporation, now The Boeing Company (NYSE:BA). In over 30 years with General Electric Co. (NYSE:GE), Worsham rose from jet engine aero thermo designer, to Vice President Military Engines, Vice President Commercial Engines, and Vice President Market Development.
“We are honored to have someone of Jim’s stature in the aerospace community agree to join us as CEO,” said Chairman of the Board, Jerrold S. Pressman. "His outstanding background and experience in the aviation industry is a perfect fit for our new business model to globalize the aerospace industry. Jim’s ability to develop profitable opportunities is demonstrated by the many groundbreaking projects he has led throughout his impressive career.”
Notable projects led by Worsham include: C-17 Globemaster, KC-10A Extender, T-45 Goshawk, MD-11, DC-10, MD-80, MD-90, 717. He initiated aircraft leasing in China and assembled 100 MD-80 aircraft in China.
Worsham’s honors, awards and accomplishments include: Goddard Award (while at GE), Collier Trophy (while at McDonald Douglas), Former Member of USAF Military Airlift Command Advisory Board, Former Member of US Science and Technologies Board.
“I am very excited about the growth opportunities at U.S. Aerospace, Inc.,” said Worsham. “I am confident that together we will build upon the Company's strategy of globalization in the aviation marketplace and, as a result, increase shareholder value.”
Worsham joins U.S. Aerospace, Inc. after successfully revitalizing and developing George Air Force Base, located in Victorville, California, into a modern commercial and military airport. Worsham served as Chairman of Asia Pacific and North America divisions of Guinness Peat Aviation, a commercial aircraft sales and leasing company, where he oversaw the conversions of DC-8 aircraft to freighters and initiated aircraft leasing in China. While at Guinness Peat Aviation, the Company was valued at more than $4 Billion.
As President of Douglas Aircraft, Worsham was instrumental in securing military and commercial aircraft business for a family of seven different lines of aircraft and developed the “rent-a-plane” concept which today is recognized as fractional ownership, and played a significant role in revitalizing the general aviation industry.
Worsham founded the SCLA School of Aviation Technology. He served as a Captain in the U.S. Army. Worsham received his BS in Mechanical Engineering, magna cum laude, from Vanderbilt University, his MS in Mechanical Engineering from University of Arkansas, attended Dartmouth Institute, has a honorary doctorate from Northrup University and is a registered professional engineer.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT), L-3 Communications Holdings, Inc. (NYSE: LLL), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company’s website at http://www.USAerospace.com.
Forward Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
Contact:
For U.S. Aerospace, Inc.
Media and Investor Relations
Richard Watkins, 386-409-0200
The impressive backgrounds of the new management team members, especially the new CEO, Jim Worsham, clearly testify to USAE's very real developing story. They are not spending any time or money on cheap P&D stock promotions either. We will see the stock price move higher as the company books new aerospace contracts as have been discribed in the recent news. Right now, I really don't mind the stock sitting at base levels where we can accumulate a lot of shares very easily.
USAE has a plan, its not a p&d.
USAE is currently be re-made into a first class aerospace contracting and manufacturing company. This is no longer the same little machine tool operation that existed under the old New Century name. Anyone can see the progress that is being made here by reviewing recent USAE news (below). The new partnerships with Antonov and AVIC just completed certainly have the potential to generate revenues for USAE dwarfing all past history of the company by far.
US Aerospace Names Worsham as CEO
http://www.cnbc.com/id/39323443?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo
U.S. Aerospace, Inc. and AVIC International Holding Corporation Enter into Strategic Cooperation Agreement. Parties Anticipate Bidding on at Least $100 Million in Potential Orders in First Year
http://finance.yahoo.com/news/US-Aerospace-Inc-and-AVIC-bw-1895775407.html?x=0&.v=1
U. S. Aerospace, Inc. Announces Michael C. Cabral as President
http://finance.yahoo.com/news/US-Aerospace-Inc-Announces-bw-2313624350.html?x=0&.v=1
CNBC Publishes Extended Version of U.S. Aerospace, Inc Exclusive Interview
http://finance.yahoo.com/news/CNBC-Publishes-Extended-bw-219420985.html?x=0&.v=1
U.S. Aerospace, Inc. Divests Unprofitable Non-Aerospace Business Unit
http://finance.yahoo.com/news/US-Aerospace-Inc-Divests-bw-3143592278.html?x=0&.v=1
U.S. Aerospace, Inc. Obtains $500,000.00 Additional Funding and Extends Remaining Debt One Full Year
http://finance.yahoo.com/news/US-Aerospace-Inc-Obtains-bw-4252223226.html?x=0&.v=1
U.S. Aerospace, Inc. to Bid on Military Transport Aircraft for New Zealand
http://finance.yahoo.com/news/US-Aerospace-Inc-to-Bid-on-bw-3543347017.html?x=0&.v=1
U.S. Aerospace, Inc. Chairman of the Board, Jerrold S. Pressman Issues Letter
http://finance.yahoo.com/news/US-Aerospace-Inc-Chairman-of-bw-680863842.html?x=0&.v=1
U.S. Aerospace, Inc. Attends Farnborough International Airshow
http://finance.yahoo.com/news/US-Aerospace-Inc-Attends-bw-1866018108.html?x=0&.v=1
U.S. Aerospace, Inc. and Antonov Submit $29.5 Billion Bid for KC-X Tanker Program
http://finance.yahoo.com/news/US-Aerospace-Inc-and-Antonov-bw-3826515902.html?x=0&.v=1
Yup....a 52 week low could very well occur. Holding and hoping. glta
So I'm now a basher for pointing out any problems. Let's look at my two most recent posts on this board. October 30, 2007 - A joint venture with WK Venture where I point out debt problems. Stock price around $0.25. Then there was October 2, 2009 when I questioned what benefit NCNC would see with buying Precision Aerospace in terms of growing revenues. Stock price around $0.18.
Now today even after all of the wonderful news, we're within striking range of a 52 week low at $0.062. It seems to me that I'm not bashing but pointing out the obvious.
The debt does suck, but the shortterm potential out weighs that. And by shortterm, I think any day we will get a pr anouncing a major development. This company makes planes, and are on the same playing field as Boeing. Yeah, they are not in major production, but the capabilities are there, and they sell these planes at lower prices. There will be a contract, if not by the AF, it will come from overseas and you will see the stock jump pass .20. With a 26m float, a $100m contract values this company way pass 1.00. So go ahead and bash all you want, the bottom line is that USAE has huge potential and is considerably undervalued.
I don't really see how this is a significant development for USAE in that the old NCNC takes its big debt, merges and renames itself USAE, and then sells its NCNC business without the debt back to Duquette while USAE is stuck with the old NCNC debt.
Great deal for Duquette and an accounting trick for USAE as now they have a $1 million gain. Of course it only cost them $4-5 million.
Of course with all of the wonderful news we've really made improvements in stock price - not. Today is great with one $2,500 purchase raising the price by %14.
USAE has filed an 8K today on the hiring of Jim Worsham as the new CEO. Mr. Worsham's employment was effective as of yesterday, September 29th.
LINK: http://www.otcbb.com/asp/Info_Center.asp
See USAE's news from Sept. 15th below. This was a very significant development that probably slipped by most people. The company had just divested of its unprofitable machine tool segment leaving only the profitable aerospace business in USAE now. We will see this fundamental improvement reflected in the company next upcoming financial reports.
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U.S. Aerospace, Inc. Divests Unprofitable Non-Aerospace Business Unit
David Duquette Resigns as Director and CEO
LOS ANGELES, Sep 15, 2010 (BUSINESS WIRE) -- U.S. Aerospace, Inc. (OTCBB: USAE), a U.S. aerospace and defense contractor, announced that it has divested the Company's machine tool manufacturing business unit, New Century Remanufacturing, Inc. (NCR). David Duquette and Josef Czikmantori will remain with NCR, and have resigned all positions with the Company.
"The divesture of this unprofitable business unit is the next step in the transformation of U.S. Aerospace, Inc. into a modern aerospace defense firm, whose growth will be fueled by exploiting our own advanced engineering abilities as well as the manufacturing capabilities and cost advantages of our international partners," commented Randall D. Humphreys, Director and member of the Company's Audit Committee. "Subject to contingencies we anticipate booking an estimated gain of over $1 million this quarter as a result of the sale, and more importantly will eliminate any drain on our financial resources and senior management's focus on growing our aerospace business."
Duquette has resigned as CEO of U.S. Aerospace, Inc. and as a member on the Board of Directors. Czikmantori has resigned as Secretary of the Company; he had previously resigned from the Board. "We thank Messrs. Duquette and Czikmantori for their service, and wish them the best of luck with NCR," said Humphreys.
About U.S. Aerospace, Inc.
U.S. Aerospace, Inc. is a publicly-traded aerospace and defense contractor based in Southern California. The Company is an emerging world-class supplier on projects for the Lockheed Martin Corporation (NYSE: LMT - News), L-3 Communications Holdings, Inc. (NYSE: LLL - News), the Middle River Aircraft Systems subsidiary of General Electric Company (NYSE: GE - News), and other aerospace companies, commercial aircraft manufacturers and prime defense contractors. The Company supplies aircraft assemblies, structural components and highly-engineered, precision-machined details for commercial and military aircraft. The Company has offices and production facilities in Rancho Cucamonga, California.
For further information please visit the Company's website at http://www.USAerospace.com.
Forward Looking Statements
Except for statements of historical fact, the matters discussed above are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the Company's control, may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on its key suppliers and international partners, limited capital resources, intense competition, government regulation, complications and risks related to bidding on government contracts, and difficulty in aerospace product and parts manufacturing; as well as additional risks factors discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the Company undertakes no obligation to update any information.
SOURCE: U.S. Aerospace, Inc.
CONTACT:
For U.S. Aerospace, Inc. Media and Investor Relations Richard Fixaris, 1-386-409-0200
Copyright Business Wire 2010
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Down today on limp volume. It's volume like this that will bring it below its support. I'll be there to buy more though. Can you tell me what is the downside to this company? I hear that it has shareholder loss of 8m. What does this mean?
Per USAE's most recent filing, we have the following information on share count:
Basic and diluted weighted average common shares outstanding 24,692,849
Link: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7457486
I tried calling the transfer agent to learn what the true share structure is but couldn't get through. Will someone try?
Yes, USAE traded heavily yesterday with over 1.7 million shares of volume in total. We are certainly expecting more news soon in light of the last week's CNBC story about industry veteran Jim Worsham joining USAE as the new CEO. Also, we should be hearing more on new develpments with aerospace giants AVIC and Antonov. The potential for USAE investors has never been higher.
641k shares shorted today, however not sure if they covered. The stock is going to go higher, it opened high, but shorts tried to bring it down by bid slapping. Longs held true though. I bought more at .07. Only a matter of time before this breaks through the new resistance at .10 that is forming. Plus a PR will bring it over the top.
Happy Trading.
Z
Note the last part of today's CNBC story. Our new Chinese partners are visiting the USAE plant in California today...
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Worsham also initiated aircraft leasing in China, and today, U.S. Aerospace will be welcoming officials from China’s AVIC International Holding to California. AVIC is an aircraft company that U.S. Aerospace has partnered with to bid for military helicopters in New Zealand.
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U.S. AEROSPACE, Inc. (USAE)
U.S. Aerospace, Inc. is a supplier of structural aircraft components and assemblies, as well as a leading re-manufacturer of machine tools. Through its wholly owned subsidiary Precision Aerostructures, the company specializes in engineering and manufacturing precision details for the aerospace industry that perform reliably in harsh conditions, including high and low temperatures, severe shock and vibration. U.S. Aerospace also is a leading domestic manufacturer of machine tools, primarily vertical boring mills and large lathes such as Vertical Turning Centers (VTC). Precision serves major aircraft builders such as General Electric, Boeing, L3 Communications and Eclipse Aerospace. The Company has production facilities in Rancho Cucamonga, CA and Santa Fe Springs, CA.
For more information, please visit our main website: http://www.usaerospace.com
or our subsidiary Precision Aerostructurers' website at www.precisionaerostructures.com.
------------------------------------------------------------------------------------------ Contact Info:
U.S. Aerospace, Inc. (USAE)
10291 Trademark Street
Rancho Cucamonga, CA 91730 USA
Phone: (909) 477-6504
Web Site: http://www.usaerospace.com/
Media and Investor Relations
Richard Watkins
1-386-409-0200
Current Contracts:
Through Precision Aerostructures (PAI), we are an emerging world class supplier of complex structural airframe machined components and assemblies for commercial and military aircraft builders in the United States and around the world. PAI specializes in engineering, and manufacturing of precision computerized numerical control ("CNC") machined multiaxis structural aircraft components, with tolerances of up to +/-.0001" on ferrous and non-ferrous metals.
The Boeing Company (Long Beach) - 5 Years
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