Aegis Industries, Inc. (OTCBB: AGIN) has released more good news for investors. Yesterday after the stock markets closed, the company issued a press release announcing that it has been advised by Z5 Technologies regarding the appointment of Rear Admiral Richard A. Appelbaum, United States Coast Guard (ret.) to its Advisory Board. (for complete details of Admiral Appelbaum's prestigious career, see the company's press release).
As previously announced on March 20th, and disclosed in Aegis' report on Form 8K filed on the SEC's EDGAR website, Aegis Industries has signed a Letter of Intent ("LOI") with Z5 Technologies, LLC ("Z5") outlining the framework under which both parties plan to negotiate a formal, definitive merger, share purchase and exchange agreement.
Current appointees to Z5's Advisory Board include: Ambassador Thomas C. Ferguson, a senior Member of the Reagan and Bush Administrations; Mr. Steve Cooper, Senior VP, and CIO of Information Technology at the American Red Cross; Mr. Pierre J. Thuot, Senior VP, Technology Solutions Group at ManTech Incorporated and a former multi-mission NASA astronaut; and Everett Alvarez, Jr., a distinguished naval officer, lawyer, author, entrepreneur, and former government executive best known as the first American aviator shot down over North Vietnam and held as a POW for 8 1/2 years.
Company President Paul Evancoe commented, "It is a real pleasure to welcome Admiral Appelbaum into the fold. As our companies grow together in the coming months, we are certain to benefit greatly from the experience and wisdom this Advisory Board brings to our team. We are very pleased by this announcement today."
Stock Market Alerts initiated coverage of the company yesterday when a press release was issued, announcing that Market Advisors has provided an analyst report for the company, with a $2.25 short-term target price.
Aegis acquires the expertise to design, develop, and market, next generation intermediate force technologies backed by industry-leading R&D. The company's first product line includes the Aegis Mark 63 Trident Multi-Sensory Stun Baton and the Aegis Mark 62 Trident Ultra-Lite Baton, a series of baton-based intermediate force products that deliver the full range of less than lethal force options, from warning to full engagement and final threat resolution.
The company is targeting a huge pool of potential customers worldwide that includes US and foreign military, law enforcement, corrections and personal security personnel.
The stock closed Tuesday at Ninety-Three cents a share.
For Stock Market Alert's in-depth and updated profile of Aegis Industries, visit http://www.wallstreetenews.com/AGIN032707
Aegis Industries acquires the expertise to design, develop, and market, next generation intermediate force technologies backed by industry-leading R&D. The Company philosophy is based in the knowledge that better communication, tools and training result in a safer enforcement outcome with fewer injuries to officers, suspects, and bystanders. Management draws on extensive experience on the front lines combined with the most forward-thinking R&D to develop leading edge products designed to exceed the expectations of military, law enforcement, and private security customers.
Other Stocks of interest yesterday were:
Apple, Inc. (NASDAQ: AAPL) down 0.4% on 33.3 million shares traded. Apple is an award-winning desktop and notebook computer manufacturer.
Oracle (NASDAQ: ORCL) up 0.5% on 33 million shares traded. Oracle Communications brings together a unique portfolio of proven software that enables service providers to rapidly deliver next generation convergent services, maximize revenues, increase operational efficiencies and build brand loyalty.
Lumera Corporation (NASDAQ: LMRA) up 9.9% on 1 million shares traded. Lumera is a leader in the emerging field of nanotechnology. The company designs proprietary molecular structures and polymer compounds for the bioscience and communications/computing industries, both of which represent large market opportunities.
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