ST0CK ALERT: BREAKING NEWS AFTER THE CLOSE!
Company: Space Propulsion Systems, Inc.
Symbol: SPSY
Price: $.16
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THE NEWS: Go Read the Full Story Now!
Letter of Intent for Funding Signed by SPSY and Swiss
Venture Capital Firm
Friday March 31, 4:05 pm ET
CLEARWATER, FL--(MARKET WIRE)--Mar 31, 2006 -- Space
Propulsion Systems, Inc. (Other OTC:SPSY.PK - News)
announced that on March 31, 2006, the Company signed a
Letter of Intent with a Swiss Venture Capital firm for the
full funding of the final commercialization stage of the
Company's New Generation Solid Propellant technology. The
funding level is sufficient to complete all aspects of the
program goals established by the Company for successful
program completion. Details of this agreement will be
forthcoming in a later announcement.
Space Propulsion Systems (the "Company") is an
aerospace company that specializes in the research and
development of patent pending state-of-the-art manufacturing
and chemical process technologies that are both
environmentally friendly, and cost efficient.
Radar it For Monday's Open!
Information within this report contains forward looking
statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21B of theS E C Act of
1934. Statements that involve discussions with respect to
projections of future events are not statements of
historical fact and may be forward looking statements.
Don't rely on them to make a decision. The Company is not a
reporting company registered under the Exchange Act of 1934.
We have received five hundred thousand free trading shares
from a third party not an officer, director or affiliate
shareholder. We intend to sell all our shares now, which
could cause the stock to go down, resulting in losses for
you. This company has: an accumulated deficit, a negative
net worth, a reliance on loans from officers and directors
to pay expenses, a nominal cash position, and no revenues in
its most recent quarter.The letter of intent mentioned above
may not be binding. It is not an operating company. The
company is !
going to need financing to continue as a going concern.
This report shall not be construed as any kind of investment
advice or solicitation. You can lose all your money by
investing in this stock.
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