ADFS joint venture with East Star Group for Gulf of Mexico and Caribbean aims to be fully operation in first quarter 2021
American Defense Systems Inc. (OTCMKTS:ADFS)
CHARLOTTE, NORTH CAROLINA, UNITED STATES, November 18, 2020 /EINPresswire.com/ — American Defense Systems Inc. (OTC:ADFS) reports that its new joint venture with the ‘Eaast Star Group’, operating across the Gulf of Mexico and the Caribbean is projected to include: (1) leasing pre-existing warehouses for administrative offices, storage, training, and engineering, with a current budget between $28,000 to $56,000 per annum; (2) purchasing approximately 600 acres of farmland for the development of ‘food security facilities’ and ‘continuity of government’ services, for an undisclosed sum, using commercial mortgages; (3) purchasing residential developments sufficient to accommodate up to 75 ‘disaster resistant safe houses’ for ‘continuity of government’ services, for an undisclosed sum, using a commercial mortgage; and (4) leasing and renovating pre-existing maritime facilities for the provision of ‘disaster aid’ and ‘maritime support’ services, under leases with 25 to 50 year terms, with annual rents projected to escalate from $12,000 to $100,000 per annum, and a renovation budget currently projected not to exceed $7 million.
ADFS will release additional information on the value of the investments, the respective commercial mortgages, and projected returns after the engineering inspections, environmental assessments, and value appraisals of the targeted real estate investments.
As the company continues to process its updated reporting and regularization with the OTC and SEC, the Treasurer, Osita Iroku says that, “ADFS is committed to complete the launching of four operational divisions, before the end of first quarter 2021. These would include: Crisis & Disaster Prep, to provide training, supplies, facilities, and shelter for law enforcement, healthcare, food security, search and rescue, and government continuity in disaster-prone areas; Strategic Investments, to invest and partner with other firms in disaster-prone areas that have the products and services needed for market penetration and service delivery; Real Estate Holding, to acquire and develop a real estate portfolio that compliments and supports our market penetration and service delivery strategies; and Maritime Support Services, to provide safe harbor, re-supply, maintenance, and repairs for vessels in disaster prone areas.
Certain statements in this report; statements relating to the development, production, rates, features, and timing of existing and future products and services; statements regarding market growth and locations, and repair capabilities; statements regarding business growth, and the means to achieve such growth; statements regarding market opportunities; statements regarding revenue, cash availability and generation, cash flow, gross margins, pricing, spending, capital expenditures and profitability targets; statements regarding productivity improvements, cost reductions and capacity expansion plans, such as for customer deliveries, logistics and vehicle servicing; and statements regarding our investment in and the impact of changes to our customer delivery infrastructure, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations, and due to certain risks and uncertainties, actual results may differ materially from those projected.
Source: EIN Presswire