LAS VEGAS, Oct. 5, 2006 (PRIMEZONE) -- AirScooter Corporation (Pink Sheets:ASCO), an innovator of new air vehicle technology, released today a shareholder letter for the fiscal year ended September 30, 2006. The letter, from president Dwaine Barnes, is on the company website, http://www.airscooter.com. Go to the Investor Information page.
The Company's proprietary products include (a) the AirScooter(r) personal air vehicle ("PAV"), (b) the AeroTwin(r) sport aircraft engine, and (c) the AirScooter(r) UAV. AirScooter products are designed and targeted for large market segments and enjoy extensive industry and media exposure and interest.
The letter highlights achievements during fiscal 2006 including progress the Company has made transitioning from product development to sales. AeroTwin engine sales commenced in 2006 and are expected to grow considerably in 2007. The Company reports robust engine demand for the next batch of production engines scheduled to start delivery in January 2007.
The letter also summarizes progress made during the year, status and plans for 2007, with respect to the AirScooter PAV and the AirScooter UAV. The AirScooter personal air vehicle has been improved with a new drive system to accommodate the power of the AeroTwin engine and is being outfitted with new composite rotors. The AirScooter G70 six-foot coaxial rotor UAV is meeting expectations in flight tests and customer demonstrations. The Company expects one or both of these products to contribute revenues in fiscal 2007.
Financial results for the fiscal year are expected to be available by calendar year end.
To receive notices of future updates and communications, shareholders are urged to register at http://www.airscooter.com by clicking on the button "Get Email Updates -- Join Now."
About AirScooter Corporation
AirScooter Corporation is engaged in the development and commercialization of advanced manned and unmanned air vehicles and power systems for the recreational, commercial and government markets. The Company has applied coaxial counter-rotating dual rotor systems to the AirScooter(r) personal air vehicle (PAV) and AirScooter(r) Unmanned Aerial Vehicles (UAVs). The Company's wholly owned subsidiary, AeroTwin Motors Corporation, is engaged in the manufacture and distribution of patented AeroTwin(r) 65 HP lightweight sport aircraft engines. For more information on the company, its technologies and products please visit www.airscooter.com. For information on the AeroTwin engine visit www.aerotwinmotors.com.
The AirScooter Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2588
The AeroTwin Motors Corporation is available at http://www.primezone.com/newsroom/prs/?pkgid=2589
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements, particularly those risks and uncertainties inherent in the process of developing and distributing aeronautical products and engines. Factors that may cause such a difference include risks related to our limited operating history, risks associated with completing development and production of products, the risk that our products will not meet with market acceptance, the risk of future warranty and product liability claims, the uncertainty of access to capital to sustain or grow operations, achieve profitability or continue as a going concern, the failure to secure and maintain relationships with suppliers, manufacturers and other third parties, reliance on key employees and consultants, and dependence on intellectual property. Further information on the factors and risks that could affect our business, financial condition and results of operations, are contained in our public corporate documents. These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from our current expectations. AirScooter Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.