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Sun, 2 Apr 2006 2:25:32 +0180
ST0CK ALERT: BREAKING NEWS AFTER THE CLOSE!
Company: Space Propulsion Systems, Inc.
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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
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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