Sanswire Corp. Announces Third Quarter 2009 ResultsMarketwire
November 17, 2009: 10:58 AM ET
Sanswire Corp. (OTCBB: SNSR) today announced that it has filed with the United States Securities & Exchange Commission its quarterly report on Form 10-Q for the quarter ended September 30, 2009.
For the quarter ended September 30, 2009, the Company reported a net loss of $1.5 million, or $0.01 per share, with no revenue, compared to a net loss of $433,000, or $0.00 per share, with no revenue for the quarter ended September 30, 2008.
The net loss for Q3 2009 is attributed to an operating loss during the quarter of $1.5 million, compared to an operating loss $767,000 for Q3 2008, to interest-related expenses of $197,000, compared to interest-related expenses of $419,000 for Q3 2008, and to $379,000 related to derivative financial instruments, compared to a gain from derivative financial instruments of $600,000 for Q3 2008.
David A. Christian, Chief Executive Officer of Sanswire, said, "We are continuing with our business plan to bring a range of lighter-than-air Unmanned Aerial Vehicles to market for defense and border security purposes. We have focused on furthering the development of our newest airship, the STS-111, for delivery after a series of successful tests. In addition, we have
established a relationship with a major defense contractor that will serve as the systems integrator and operator of the STS-111, and we are committed to growing this relationship and together pursuing business opportunities."
He concluded, "I remain as firmly convinced as ever that extended-duration UAVs have a significant role to play in keeping our country safe and secure. I am determined to bring the STS-111 to America where we can take the next steps necessary to grow our business and serve the needs of our servicemen and women."
Sanswire's Quarterly Report on Form 10-Q is available via its web site,
http://www.sanswire.com. For more news and information on Sanswire please visit
http://irgnews.com/coi/SNSR where you can find a fact sheet on the company, investor presentations, and more.
About Sanswire Corp.
Sanswire Corp. (OTCBB: SNSR) develops and provides an integrated suite of aerospace communications products and services, leveraging its relationships with leaders in UAV (Unmanned Aerial Vehicle) technologies. Sanswire Corp. is focused on the design and construction of various aerial vehicles, capable of carrying payloads that provide persistent surveillance and security solutions at various altitudes. For more information, visit
http://www.sanswire.com.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "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'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.
Quelle:
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