Item 8.01Other Events.
Defense Technologies announces that on
WSI is a
Under the terms of the Agreement, Defense Technologies and WSI will work
together to identify opportunities where, WSI's Service-Disabled Veteran Owned
(SDVOSB) status and DTII's "Passive Portal Process" can be joined to target
certain off-the-shelf item awards issued by the Federal Government, or
solicitations/contracts/purchase orders contracting opportunities, specifically
managed through any weapons detection scanning designated Prime Vendor/Program
Office. Defense Technologies products covered by the Agreement include the
Passive Portal Walk-through Weapons Detection System and
Additionally, DTII appoints WSI for weapons detection opportunities expressly identified with Federal Agencies as a worldwide non-exclusive SDVOSB distributor of Defense Technologies products. Under the Agreement, WSI is not prohibited from using, selling, manufacturing, or promoting products which are competitive with DTII products, and WSI has no volume commitments or purchase requirements, nor marketing or promotional obligations of any kind. Under its terms, either party may terminate the Agreement, without cause, upon ninety (90) days written notice.
Cautionary Note About Forward-looking Statements
Statements contained in this current report which are not historical facts, may be considered "forward-looking statements," which term is defined by the Private Securities Litigation Reform Act of 1995. Any "safe harbor under this Act does not apply to a "penny stock" issuer, which definition would include the company. Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
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