Adama Technologies Corp. (OTCQB: ADAC) operates as a precision machinery and aerospace component manufacturer. Shares of the aerospace and defense contractor surged 49.47% during trading on Thursday, April 26, 2018. Over the past month, Adama Technologies Corp. has seen average daily volume of 3.01 million shares. However, volume of 12.46 million shares or dollar volume of $353,864, has exchanged hands on Thursday.
Shares of Adama Technologies Corp. surged today after the company announced that it has begun production of positioning control cams for landing gear assembly of the B-52 long-range bomber. This is the latest government contract won by the company, which expects to begin shipping the components to the U.S. Air Force by early July 2018. Here is the full press release detailing of the start of production and the contract:
Adama Technologies Corp. Press Release:
LAS VEGAS, April 26, 2018 (GLOBE NEWSWIRE) — Via OTC PR Wire – Adama Technologies Corp. (OTCPINK:ADAC) announced today that they have started production on a new contract for the B-52 aircraft used by the United States Air Force (USAF). This production contract is for positioning control cams that are part of the main landing gear assembly for that aircraft. The Company stated that they will begin production this week and are on track to ship the order by early July.
The B-52 is an American long-range, jet powered bomber that has been a crucial part of Untied States Military operations and strategic planning for decades. This aircraft played a crucial role in the recent strategic targeting of Syrian chemical weapons locations in recent weeks.
Harold Tanner, President of Adama Technologies, commented, “ADAC continues to be awarded new government contracts. As President, it gives me immense pleasure to inform our valued stakeholders that we are securing new military contracts while simultaneously meeting all current production goals. On this project for the B-52 our customer was informed that we are starting production earlier than anticipated. I believe it is this spirit of exceeding expectations and ‘overdelivering’ that gives ADAC an edge in the highly competitive military contracts market. And the proof of this edge is every time ADAC is awarded a new contract.”
Mr. Tanner continued, “It certainly is a great honor to be working on such prestigious contracts. We are excited about what we are doing as a company and really thrilled to see the continued growth and development of our strategic growth plan.”
The Company stated that they intend to keep the market readily updated via continued press updates as well as through the Company’s social media channels.
About Adama Technologies Military Defense Operations
Adama Technologies completed the acquisition of Alpine Industries in November of 2016. Alpine Industries is a precision machining and aerospace manufacturing company. Since its inception in 1974, Alpine has manufactured several hundred aerospace landing gear components and other spare parts. Alpine continues to work as a US government contractor and currently holds over 15 US Military contracts with the majority of them with the US Air Force. Presently, Alpine manufactures such items as M1 Mine Clearing Blades, hypo-chlorination units, tow bridles, 60 ton jacks for the C5A, AIM-9 missile body trainers, numerous bolts and screws, drag links for the F-16 fighter planes, and many other landing gear parts. In addition to the US military, Alpine also manufactures parts for several private companies including parts for drilling components used in oil and water wells, roller-coasters, motorcycles, zip line parts, crash pads, and drilling carts.
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect,” “plan,” “predict,” “may,” “should,” “will,” “can,” the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company’s filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company’s due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.