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

U.S. Aerospace, Inc. (USAE) 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.