Annual results to 31 December 2013
PHOENIX, ARIZONA - June 27, 2014 - -- Armor Designs, Inc. (LSE: ADID)("Armor" or the "Company"), a leading designer, integrator and manufacturer of body and vehicular armor solutions for military, government and commercial use, today announced its fiscal year-end results for the period ending December 31, 2013 and the filing of its Annual Report on June 30,2014.
"In just the few short weeks of my tenure at Armor Designs, we have achieved significant accomplishments," said David Oliveira, Chief Executive Officer of the Company. "We have appointed a new nominated advisor and broker (NOMAD), we restored our trading on the AIM market of the London Stock Exchange, which had been suspended since May 2, 2014, and we elected Mr. Robert Elizondo as Chairman of the Board of directors. The Company also signed a non-exclusive distributorship agreement on June 10th with Achilles Technology Solutions, an established global distributor of innovative safety and security technologies, services and products, which is a cornerstone to our new marketing strategy to increase the distribution channels for our products. Over the past eighteen months, the Company has successfully raised over US$3 million in common equity capital in three private placement offerings for which the funds were used for working capital needs in addition to sustaining current operations and overhead costs.
"While we are proud of our accomplishments so far, we have just begun. Our near-term objectives are to reduce our debt and restructure our balance sheet, increase our stock liquidity and float. From a strategic standpoint, our goals are to solidify our existing distribution contracts and expand the marketing of our products worldwide. My transition into the chief executive role at Armor Designs has been smooth and seamless, and we have received tremendous support from our shareholders, vendors, distributors, research partners and prospective end-users. Moreover, we could not have completed the process without inexhaustible efforts from our outstanding team professional employees, board members and outside counsel, and we extend to them our extreme gratitude.
"Our new mission statement is to make the best products in our space to protect those who protect us. To maintain our core beliefs and principles while exhibiting the highest integrity and transparency and building shareholder value", concluded Mr. Oliveira
For further information:
|Dennard Lascar Associates, LLC.
M. Carol Coale
|Armor Designs, Inc.
|Tel: +1 520 329 7686|
|SP Angel Corporate Finance LLP
|Tel: +4420 3463 2260|
About Armor Designs, Inc.
Armor Designs, Inc. (ADI) is a knowledge-based, technology-innovation company that develops and manufactures the highest quality, lightest and most cost-effective armor solutions to serve the military, government and commercial sectors on a global basis. We are an international company headquartered in Phoenix, Arizona, and our commitment to state-of-the-art innovation is driven through the application of our patented Volumetrically Controlled Manufacturing (VCM) methodologies. VCM is a unique, integrated design and manufacturing approach that optimizes parts and systems by varying the size, shape, topology and material properties of the constituent materials in the armor allowing for rapid design and manufacturing of advanced composite materials. This methodology eliminates the trial-and-error approach and instead provides a robust platform for a rapid development of armor solutions that can be tailored for any application.
The Report and Accounts are being sent to shareholders today and will shortly be available on the Company website, www.armordesigns.com. Please also refer to our Annual Report for complete financial statements.
For more information, please visit the Armor Designs web site at www.armordesigns.com.
Safe Harbor Statement and Disclaimer
This news release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward looking words including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Armor Designs believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company.
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