| Author | Message | ||
     Allyn Roe (Unregistered Guest) Unregistered guest |
FOR IMMEDIATE RELEASE Express-Aircraft Purchased by Exosphere Aircraft Company SEATTLE, WASHINGTON July 5, 2005 Express Aircraft Company, LLC, a Washington Limited Liability Company signed and closed an Assignment of Membership Interest Agreement with Exosphere Aircraft, Company Inc., a Washington corporation. The purchase will allow the company to re-establish marketing and sales of the aircraft kits and fulfill backorders. The Express fast-build kits combined with the Builder Assist Program located at the factory and factory finishing services can get a customer flying in 400 hours of customer build time. Other comparisons show that the Express 2000FT is the right answer for real-world use. The low stall speed (dirty) of 53 knots and demonstrated cross wind component of 29 knots means you have more margin of safety for low speed maneuvering and landing. About Express Air Express Aircraft manufactures kits for the 2000FT model a high-performance, composite-construction aircraft that is fast, yet maintains a low-landing speed while carrying a 1,000 pound payload AND 140 gallons of fuel. It is a long-distance cruising airplane that can carry a family of four in comfort and accommodate their luggage in a spacious cabin. The Express Series 2000FT features a cabin class useful load of 1875 pounds, 375 pounds more than available in other kits and even ahead of certified aircraft in the top end of the light aircraft price range. Fuel capacity is 140 gallons verses 90 and the 2000FT can carry that extra 50 gallons of fuel and still fill all four seats plus luggage. The large rear seating and luggage areas make your passengers feel like they are in a cabin class aircraft. ________________________ Safe harbor statement under the private Securities Litigation reform Act of 1995 This news release contains forward-looking statements, including statements regarding the Companyˇ¦s expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Companyˇ¦s technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release. ### | ||
| Brian McKinney New member Username: Bmckinney Post Number: 91 Registered: 05-2000 |
Whew! We finally we get our much awaited news. OK, I'll be the first one to ask... Who is Exosphere and what Express experts are involved with the new company? Hope to see something at OSH! Brian | ||
| Ted Gaston (Unregistered Guest) Unregistered guest |
All you need to do is google Barry Henthorn and you will be enlightened. I found that name in 2 minutes at the Washington Seceratary of State web site. Good luck to the new guy. | ||
| Hans Georg Schmid New member Username: Hgschmid Post Number: 30 Registered: 02-2001 |
Good luck to the new team. I keep my fingers crossed! Hans Georg Schmid Switzerland | ||
| John Harlow New member Username: Jharlow Post Number: 30 Registered: 10-1999 |
This is very good news for all of us. When there are no replacement parts available, insurance is hard to come by and for those still building there is a new light at the other end of the tunnel. Best wishes to the new team!!! | ||
| Shawn kelley New member Username: Skelley Post Number: 4 Registered: 01-2004 |
Congratulations to the new owners!! We will support the factory in any way we can. We love our Express and want to see many more flying. | ||
| Jim Oyler New member Username: Midniteoyl Post Number: 103 Registered: 07-2003 |
WHOOT!! | ||
| Gary H. Wolfelt New member Username: Wolfelt Post Number: 28 Registered: 11-2003 |
Allyn: Regarding your post on July the 5th, you mentioned "fulfilling backorders". Does this mean that as a part of the sale of EAC the new owners (Exosphere) have assumed the liabilities of the former owners (Express Aircraft Co, LLC/Roy & Nancy Davis)? For those of us that didn't receive all of what we paid for, can we expect to recieve these parts at no additional charge? And for those of us that have obtained and paid for our parts on our own directly from the EAC vendors, can we expect to be reimbursed by the new owners? Or will we need to pursue the former owners in an attempt to collect? As you know, there are a number of us in this situation. Since you seem to be the official company spokesman, for the benefit of all of us, please answer these questions on forum so we will all know where we stand. Thank you. GHW | ||
| Allyn Roe (Unregistered Guest) Unregistered guest |
A solid position has not been made on this yet. There will be some form of reimbursment; cash or parts. This is all being worked into the business plan that is in draft form at this stage. "Or will we need to pursue the former owners in an attempt to collect?" - Nice Try } | ||
| Allyn Roe (Unregistered Guest) Unregistered guest |
Above I'm speaking about outstanding missing parts; not parts customers had made by vendors. This has not been addressed yet. |