SPDV 1.50-1.55 Highly significant announcement yesterday. Current mkt cap is $25 million. IMO this ushers in a whole new era for the company...
Press Release Source: SpaceDev
SpaceDev Awarded $43 Million for Six MDA Satellites
Thursday April 1, 1:23 pm ET
Contract Includes Up to Two Clusters of Three Microsats, One Cluster with On-orbit Networked Laser Communications
POWAY, Calif.--(BUSINESS WIRE)--April 1, 2004--SpaceDev (OTCBB: SPDV - News) announced that it has been awarded a five-year $43 million cost-plus-fixed fee indefinite delivery/indefinite quantity contract by the Missile Defense Agency (MDA) to conduct a micro satellite distributed sensing experiment, an option for a laser communications experiment, and other micro satellite studies and experiments as required in support of the Advanced System Deputate. The first of four phases is expected to be completed this year and will result in detailed mission and microsat designs. The milestone-based, multiyear, multiphase contract has an effective start date of March 1, 2004.
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"This contract is our largest award to-date, and the successful completion of each contract phase would result in significantly accelerated growth in sales and revenues for us over the next few years," said SpaceDev founding chairman and chief executive, Jim Benson. "This award is the result of working collaboratively with the MDA team for two years, and our successful and revolutionary Internet-based CHIPSat microsatellite launched in January 2003.
SpaceDev's new high precision microsats for MDA will build on and improve proprietary SpaceDev-developed CHIPSat technology, such as SpaceDev's high performance, Miniature Flight Computer(TM), SpaceDev's general purpose Micro Space Vehicle Operating System(TM), SpaceDev's Internet-based Mission Control and Operations Software(TM) that permits SpaceDev satellites to be controlled from anywhere in the world from a laptop computer. For the new low earth orbit MDA satellites, SpaceDev will increase pointing and tracking precision, increase the processing power of its flight computer to achieve more difficult real-time problem solving on-orbit, add autonomous satellite commissioning, and will introduce other innovative techniques and technologies.
"The SpaceDev engineering team continues its transformational thinking by developing and delivering fast turnaround, high performance, responsive space systems at affordable prices," said Benson. "With CHIPSat, our hybrid-based Streaker(TM) small launch vehicle under development for the Air Force, and our hybrid rocket motors for safe government and private sector human space flight, we feel that SpaceDev is in a position to achieve more firsts in space technology and operations. We believe that SpaceDev is becoming a global leader for responsive and innovative small satellites and hybrid rocket propulsion systems."
About SpaceDev
SpaceDev (OTCBB: SPDV - News) creates and sells affordable and innovative space products and solutions to government and commercial enterprises. Upon founding SpaceDev in 1996, Jim Benson started the trend of successful computer entrepreneurs moving into the space development arena. For more information, visit www.spacedev.com.
This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. Forward-looking statements relating to product development, business prospects and development of a commercial market for technological advances are based on the Company's current expectations. The Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures including, but not limited to, risks associated with new product development and availability of raw resources and suppliers, risks to marketed products and availability of financing and other sources of income, as well as risks discussed in the Company's periodic reports filed with the U.S. Securities & Exchange Commission. The Company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company's annual report on Form 10-KSB, including the consolidated financial statements filed therewith. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
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Contact:
For: SpaceDev
Investor:
Ryan Daniels / John Nesbett
Media:
The Investor Relations Group
Michael Graff /Janet Vasquez, 212-825-3210
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Source: SpaceDev |
