MKRS .12...see prior posts this topic...this situation is becoming more and more evident...read up on it...sometimes these things are easy...this today:
(COMTEX) B: Mikros Systems Corporation Receives Additional $250,000 on Its
SBIR Contract ( PRNewswire-FirstCall )
B: Mikros Systems Corporation Receives Additional $250,000 on Its SBIR Contract
PRNewswire-FirstCall )
PRINCETON, N.J., May 20, 2004 /PRNewswire-FirstCall via COMTEX/ -- Mikros
Systems Corporation (OTC Bulletin Board: MKRS) (the "Company") announced today
that it has received an additional $250,000 to its ongoing Multiple Function
Distributed Analysis Tool (MFDAT) Phase II Small Business Innovation Research
(SBIR) contract with the U.S. Navy's Naval Surface Warfare Center. These funds
will permit building an additional MFDAT Development System and Development
Workstations in anticipation of a Phase III SBIR MFDAT Low Rate Initial
Production (LRIP) contract.
The MFDAT is an intelligent test tool which aids in the maintenance and
alignment of complex electronic equipment such as DoD radars, FAA radars, and
military and commercial communication systems. The MFDAT program began in May
2002 with Mikros being awarded a competitively bid Phase I SBIR contract. That
performance led to award of the Phase II contract, valued at approximately
$600,000 with a $150,000 option, to further pursue the MFDAT system development.
This additional $250,000 will expedite transition of the MFDAT program from
development into production. The Company believes it will receive funding for
the MFDAT production program with the U.S. Navy later this year, coming from an
approximately $3M appropriation for the Aegis AN/SPY-1A radar readiness
improvement authorized in the FY04 Congressional Bill.
Mikros Systems Corporation, a high technology company, is focused on the
development and application of new technologies in government and commercial
markets. Upon the award, President Thomas J. Meaney noted that it not only
reflected the importance of the MFDAT to naval radars, but also confirmed the
Navy's confidence in the company's design ability.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements include, without limitation, statements regarding technology under
development, strategies and objectives. The forward-looking statements include
risks and uncertainties, including, but not limited to, the anticipated size of
and growth in the markets for the Company's products, the trends favoring the
use of the Company's proposed commercial products, the anticipated demand for
the Company's new products, the timing of development and implementation of the
Company's new product offerings, the utilization of such products by the
Company's clients and trends in future operating performance, and other factors
not within the Company's control. The factors discussed herein and expressed
from time to time in the Company's filings with the Securities and Exchange
Commission could cause actual results and developments to be materially
different from those expressed in or implied by such statements. The
forward-looking statements made herein are only made as of the date of this
press release and the Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
SOURCE Mikros Systems Corporation
CONTACT: Thomas J. Meaney, Mikros Systems Corporation, +1-609-987-1513
URL: mikrossystems.com
prnewswire.com
Copyright (C) 2004 PR Newswire. All rights reserved.
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KEYWORD: New Jersey
INDUSTRY KEYWORD: CPR
TLS
OTC
ARO
SUBJECT CODE: CON
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