American Utilicraft Corporation Begins FlexFreight Contract Services.Business Editors LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--July 21, 2003 American Utilicraft Corporation (Symbol: AMUC AMUC Acta Mathematica Universitatis Comenianae ) announced today that it has completed its first month of providing FlexFreight(TM) services to a major U.S. company with a nationwide distribution and fulfillment requirement. Late last quarter, the Company signed a three-year contract valued at $2.427 million, to provide FlexFreight(TM) services to its initial customer. The Company's new product - FlexFreight(TM) - is provided by its subsidiary AUC AUC area under curve X-Press Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , www.aucxpress.com. FlexFreight(TM), which has been under development by the Company since first quarter 2003, provides dedicated capacity specifically targeted to companies with highly-perishable-products. "These are companies that are not able to take advantage of the excellent express services offered in the domestic marketplace today, due to just-in-time "off-hour" production and distribution requirements of their high-value perishable per·ish·a·ble adj. Subject to decay, spoilage, or destruction. n. Something, especially foodstuff, subject to decay or spoilage. Often used in the plural. products. The FlexFreight(TM) model makes this type of service affordable to the customer because they only pay for the capacity that has been contracted on a long-term basis," stated John J. Dupont, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , of American Utilicraft Corporation. It is the overall plan of the Company to use its company-owned air-assets to expand the FlexFreight(TM) program, with the intention to phase in -100 and -200 versions of its developmental aircraft, the FF-1080, over the next several years. Development of the FF-1080 was slowed down after 9-11, but is anticipated to pick-up again by the end of this year as FlexFreight(TM) sales continue to grow causing a demand for the aircraft. "As per the press release of June 25, 2002, American Utilicraft is continuing its business plan to grow the company -- bringing it forward from research and development -- to a revenue producing company by marketing and selling "capacity" for the FF-1080 through strategic acquisition/partnership programs," stated Dupont. As part of this program, American Utilicraft has recently entered into a joint-venture-merger Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Alpine Air Express Alpine Air Express is an American airline based in Provo, Utah, USA. It operates scheduled air cargo services on over 15 routes throughout Utah, North Dakota, South Dakota, Montana, Washington and Hawaii. Its main base is Provo Municipal Airport. , Inc., a potential strategic partner for the continued development of the FlexFreight(TM) product and the implementation of the FF-1080 aircraft. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This press release and certain statements (attributable to the Company) contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release involve risks and uncertainties and reflect the Company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may differ materially from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the Company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; marketing acceptance of future products; product suppliers delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the Company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the Company's business, particularly those mentioned in the Risk Factors section contained in the Company's filings with the Securities and Exchange Commission, and Private Placement Memorandum private placement memorandum The documentation that provides information on a new security issue. It is similar to but less extensive than a prospectus. . For more information visit the Company's website at www.utilicraft.com. |
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