SEE HOW THEY WORK TOGETHER
PRINCETON, N.J., May 2, 2002 /PR Newswire-FirstCall/ — Mikros Systems Corporation (BULLETIN BOARD: MKRS) announced today the election of Paul G. Casner, Jr. to the Board of Directors, and the appointment of David Bryan as Executive Vice President and Chief Operating Officer.
Mr. Casner has more than 35 years of defense industry experience, which includes senior positions in business management, technical management, strategic planning and business development. He is currently Executive Vice President, Chief Operating Officer of DRS Technologies, Inc., overseeing all domestic and international operations. Mr. Casner, with his extensive defense industry experience and creative vision for successful business development, will be a welcome addition to the Mikros Board of Directors.
David Bryan, in his role as Executive Vice President and Chief Operating Officer for Mikros, brings 25 years of executive, engineering, marketing, and operations management experience to this position. He has worked in general management, business development, engineering staff management, research and development management, program/project management, and proposal management.
Mr. Bryan’s appointment followed the U.S. Navy’s notification to Mikros Systems Corporation that the Company has been selected for a Small Business Innovative Research award in May 2002. Mikros is teaming with Anteon Corporation of Fairfax, VA on the SBIR. Using the Aegis SPY-1 Radar as a test bed, this project will focus on developing standardized test equipment and testing processes, using modern computer program techniques that are enabled by recent advances in information technology. This in turn will provide a foundation for new methods of system maintenance, alignment, fault detection and isolation. The goals for this project include reduced maintenance, increased system reliability and more effective use of maintenance crews. Potential applications are envisioned in other radar systems, both military and commercial.
Mikros Systems Corporation is a high technology company focused upon the development and application of new technologies in both the defense industry and commercial markets.
The Company is presently seeking $3-5M financing in order to execute its business plan for data services utilizing an AM commercial radio network. This low-cost National Communication Network concept has been proposed to the Department of Defense for its Homeland Defense initiative. There is no guarantee that the Company will be able to obtain this financing to continue the business.
The public is encouraged to view the Mikros website (www.Mikros.us) for further information and updates on the Company.
Source: Mikros Systems Corporation
CONTACT: Thomas J. Meaney – (609) 987-1513
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as “anticipates,” “believes,” “could,” “expects,” “intends,” “may,” “should” and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-KSB for the year ended December 31, 2007 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.