Monday, April 24, 2006 9:40:17 AM
Among those that have taken part in this debt to equity conversion are: William C. Robinson, CEO; Cherokee Raiders, LP, an affiliate controlled by Mr. Robinson; David M. Barnes, CFO; Keith Vierela, COO & Director; Directors Michael F. Lawson and Frank Lively; and EVP of Techsphere John Youngbeck.
Mr. Billy Robinson, CEO of Cyber Defense, stated, "We are clearly pleased that so many of our officers, directors and others that are close to the Company were able to demonstrate their collective confidence in the opportunities that we offer and in our future. At this phase of our growth, the elimination of $827,000 of debt is significant to us and will enable the Company to make further progress towards achieving its near-term goals."
About Cyber Defense Systems
Cyber Defense Systems, Inc. (OTC BB: CYDF) is designing and building a new generation of UAVs. Cyber Defense is currently marketing airships and their CyberBug(TM) UAVs to various branches of the U.S. government and U.S. allies as multi-use platform vehicles capable of deployment in surveillance and communication operations. For more information about Cyber Defense Systems, Inc. go to: http://www.cduav.com
About Techsphere Systems International
Techsphere Systems International, Inc., a wholly owned subsidiary of Cyber Defense located in Atlanta and Columbus, GA, is a manufacturer of low, mid and high-altitude airships. Together with their teaming companies, Techsphere will design and build unique airship platforms for use in many areas including surveillance, the military and wireless communications. The current spherical airship design holds the world altitude record at over 20,000 feet. For more information about Techsphere go to: http://www.techsphere.us.
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