World Surveillance Group Inc (fka WSGI)

[sharklady00]

news.

http://finance.yahoo.com/news/world-surveillance-group-completes-successful-132000044.html

KENNEDY SPACE CENTER, FL--(Marketwire -05/31/12)- World Surveillance Group Inc. (WSGI), a developer of lighter-than-air unmanned aerial vehicles ("UAVs") and related technologies, announced today that the Company has successfully completed payload testing of tethered flights of the Argus One UAV in Nevada in accordance with the mission parameters established by our sponsor. WSGI and its technical partner commenced the integration of the government-provided, classified payload during the first quarter of 2012 and recently completed the initial set of payload and flight tests of the Argus One in Nevada. These tests are expected to continue in Easton, MD.
WSGI President and CEO Glenn D. Estella stated, "We are pleased with the results from the payload and flight testing of the Argus One in Nevada and look forward to additional testing of the Argus One with classified payloads to illustrate the capabilities of the Argus One UAV to our sponsors. We are excited by the successful completion of this next step in the development and commercialization of our Argus One airship and expect to continue to execute our airship related strategic plan."
Due to the classified nature of the payload and testing program, the Company may provide additional information following approvals of the appropriate sponsoring parties.
About World Surveillance Group Inc.
World Surveillance Group Inc. (WSGI) designs, develops, markets and sells autonomous, lighter-than-air UAVs capable of carrying payloads that provide persistent security and/or wireless communications solutions at low, mid, and high altitudes. WSGI's airships, when integrated with electronics systems and other high technology payloads, are designed for use by government-related and commercial entities that require real-time intelligence, surveillance and reconnaissance or communications support for military, homeland defense, border control, drug interdiction, natural disaster relief and maritime missions. For more information regarding WSGI, please visit www.wsgi.com, or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include those regarding the timing, location or results of any flight testing of our UAVs or their carried payloads, the expected payloads or systems to be carried on the Argus One or to be tested during any given flight test, any improvements to or functionality of the Company's airships, the further advancement, development or commercialization of the Company's UAVs, the outcome of any demonstrations of the Company's airships, any business or flight opportunities relating to the Company's airships, the capabilities, characteristics and advantages of the Company's airships, technology and products, the ability of the Company to protect its intellectual property, and the ability of the Company to execute its strategy and business plans. The words "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.