Business Services Industry
XeDAR Corporation Awarded First Option-Year in Department of Defense Security-Software Contract
Business Wire, July 29, 2008
ENGLEWOOD, Colo. -- XDAR Corporation (OTCBB: XDRC), a provider of homeland security consulting and IT services to our national intelligence agencies and the Department of Defense, announced today that its subsidiary, Point One, Inc. of Arlington, VA, has been awarded the first option-year of a base-plus-four-option-year United States Department of Defense (DoD) contract to develop national-security software and analysis tools. The base year award to Point One was for $1.7 million; this first option-year is for an estimated $1.6 million.
Point One brings to this contract unparalleled expertise that will supply the DoD with software development and geospatial analysis to address critical national defense vulnerabilities. "The primary advantage the Department of Defense gets in working with Point One is the power of collaboration," says Ron Sinek, Vice President of Point One.
"We have teamed with experts from the University of North Carolina at Charlotte and IntePoint, LLC of Cornelius, NC, to create an unusually high-powered team of leading authorities from different backgrounds, all with commanding knowledge in their fields--in an effort to supply the preeminent software tools to the DoD for their ongoing national security and analysis work. The difficulties we face in defending the homeland affect all of us, and so it makes sense to assemble the strongest minds available to address those challenges. When we team up like this, the result is the most comprehensive approach that private industry can bring to the DoD to solve these significant national defense challenges."
All work performed by the contractor shall be performed in accordance with all applicable laws, regulations, standards, instructions, and commercial practices.
About XDAR Corporation
XDAR Corporation provides strategic consulting, systems analysis, predictive modeling, digital imaging, and geospatial data analysis tools and services to the Department of Homeland Security, the Department of Defense and other national intelligence agencies, as well as commercial clients.
About Point One, Inc.
Point One, Inc., a wholly owned subsidiary of XDAR, Inc., is a technology and information development firm with wide-ranging experience in industry and in the executive and legislative levels of government to include Defense, Energy, Commerce, Justice, Agriculture and State departments, as well as NASA, USAID, VA, NIH, DEA, EPA and the U.S. Congress. Point One is located in Arlington, VA.
Forward-Looking Statements
The statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future events. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to: (1) integration of operations as we acquire companies and (2) our ability to win additional government business based on the expertise of the combined companies. In particular, you should consider the risks outlined under the heading "Risk Factors" in our most recent Annual Report on Form 10-KSB. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this news release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this report or those that might reflect the occurrence of unanticipated events.
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