CARSON CITY, Nev., June 27, 2011 (GLOBE NEWSWIRE) -- Tactical Air Defense Services, Inc. (OTCQB:TADF), an Aerospace/Defense Services contractor that offers tactical aviation services, aerial refueling, aircraft maintenance, and other Aerospace/Defense services to the United States and Foreign militaries and agencies, is pleased to announce that it is has filed a Preliminary Schedule 14C Information Statement in connection with a corporate action to amend the Company's Articles of Incorporation (the "Articles").
The purpose of this Information Statement is to provide notice that a majority of TADF's shareholders, have, by written consent, granted authority to the Company's Board of Directors to amend its Articles to increase the authorized Common Stock from 3,000,000,000 shares to 6,000,000,000 shares.
Potential uses of the additional authorized Common Stock may include, but are not limited to, public or private financing transactions, acquisition transactions, and other general corporate purposes, that the Company believes will be in its best interests and in the best interests of its shareholders.
The effective date of the amendment to the Company's Articles is expected to be on or after July 24, 2011. The amendment to the Articles to increase the authorized share capital will not have any immediate effect on the rights of existing shareholders.
Alexis C. Korybut, Chief Executive Officer of TADF, stated, "We are very pleased to have received the approval of a majority of the Shareholders to increase the authorized Common Stock of the Company. We believe this Corporate Action will greatly enhance our ability to secure future financings and to execute certain strategic acquisitions that we believe could be in the best interest of the Company and our shareholders."
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Further information about TADF is available on our website: www.tads-usa.com.
Forward Looking Statement Disclosure
Statements contained herein that are not historical facts may be forward looking statements within the meaning of the Securities Act of 1933, as amended. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts, to procure future contracts, to acquire certain assets, or to finalize funding for the purchase of certain assets. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.