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U.S. AEROSPACE INC by U.S. Aerospace, Inc. (OTC:USAE) Stock, Option Chain

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U.S. Aerospace, Inc. Issues Statement on KC-X Tanker Bid   

U.S. Aerospace Bid Protest Denied

U.S. AEROSPACE INC by U.S. Aerospace, Inc.

U.S. Aerospace, Inc. (<a class="ticker" href="/stock/usae#">USAE</a>) issues the following statement concerning its joint bid for the U.S. Air Force KC-X Tanker Program. 
After comprehensive discussions of the Government Accountability Office's decision, including the advise of counsel that there are substantial legal grounds to proceed in court, the Company has determined that it will not continue to pursue its bid to supply the U.S. Air Force with its next generation of aerial refueling tankers. 
“America's service men and women have been forced to wait too long for new tankers,” commented CEO Jim Worsham. “We feel a deep responsibility for their safety and ability to fulfill the important missions our nation calls upon them to perform, they must always remain our top priority.” 
The Company intends to continue to bid on projects for the U.S. Department of Defense, and looks forward to actively pursuing both military and commercial opportunities beneficial to U.S. Aerospace, Inc. and its strategic international partners.

U.S. Aerospace, Inc. (USAE) today reported the Government Accountability Office (GAO) has denied Company's bid protest in connection with the KC-X Tanker Modernization Project. 
U.S. Aerospace, Inc. filed the protest based on claims that its joint bid with Antonov Company of Ukraine was timely submitted and within the Air Force's control before the deadline, and that their aircraft was the only one that meets all of the requirements of the request for proposal. 
The Company continues to believe that the AN-122KC offered the most capable aircraft at the most competitive price, thus benefiting both the American taxpayer and the American warfighter.

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