Skyflyer Inc.
OTC Bulletin Board : SKFL

March 12, 2007 03:00 ET

Skyflyer Technology Seeks to Form Expert Team to Begin Construction of Skyflyer VTOL Prototype

POINT ROBERTS, WASHINGTON--(CCNMatthews - March 12, 2007) - Skyflyer Inc. (OTCBB:SKFL) (the "Company") announced today that its wholly owned subsidiary, Skyflyer Technology GmbH, is currently seeking to put together a team of experts to begin the construction of prototypes for its Skyflyer VTOL (vertical take-off and landing vehicle). Skyflyer Technology will attempt to build its team by drawing from experts in both private industry and from local technical universities.

Skyflyer Technology anticipates that the one to two-seater VTOL flying machine will be usable indoors, within a specialized indoor flying course. As a result, Skyflyer Technology anticipates that, in addition to utilizing existing technologies and components, its VTOL prototype will also require the development of a specialized, highly sensitive internal positioning system.

One of the managing directors of Skyflyer Technology, Dieter Wagels, stated, "Construction of the VTOL prototype will not only involve the construction of the aircraft and the drive equipment, but will also involve the design and construction of specialized software, navigation systems and safety equipment. We hope to form our team of experts with specialists who can assist us with the development of each aspect of the project." It is expected that Mr. Wagels will supervise and co-ordinate the construction of the Skyflyer prototype, with the remaining team members working on specific tasks relating to their expertise.

Skyflyer Technology GmbH is a wholly owned subsidiary of Skyflyer Inc., a Nevada corporation. Skyflyer Inc.'s shares are traded in the United States on the OTC Bulletin Board (OTCBB:SKFL) and in Germany on the Frankfurt Stock Exchange (WKN: A0LCMC, ISIN: US83082R1077).

This press release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, the Skyflyer Technology's ability to commence its development program for the Skyflyer VTOL prototype and the testing and demonstration facility is dependent upon the Company obtaining sufficient financing and upon Skyflyer Technology's ability to secure the services of qualified experts. The Company has approved a private placement offering of its securities, however it has not completed the sale of any of the securities offered, and there are no assurances that the private placement will be completed on the terms offered, or at all. The securities being offered under the private placement will not be registered under the Securities Act of 1933 (the "Act") and may not be offered or sold in the United States unless such offering or sale is registered under the Act or an applicable exemption from the registration requirement is available. Even if the Company is able to obtain sufficient financing, there are no assurances that its development programs will proceed as planned. The Skyflyer VTOL is an experimental technology and the Company may encounter unforeseen obstacles during its development of the prototype.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.


Rolf Horchler, CEO and President

Contact Information

  • Skyflyer Inc.
    Rolf G. Horchler
    CEO and President
    (360) 927-7354