Press Release 12 October 2009

 

Mikros Systems Corporation Receives Award for Littoral Expeditionary Autonomous PowerBuoy (LEAP) Program

Princeton, NJ /PRNewswire-FirstCall/October 12, 2009 – Mikros Systems Corporation (OTCBB: MKRS), announced today that it has received a $275,000 contract as part of the Navy’s new Littoral Expeditionary Autonomous PowerBuoy (LEAP) program.  Mikros will be a subcontractor to the LEAP prime contractor, Ocean Power Technologies, Inc. (OPT), of Pennington NJ.  The prime contract, to be performed over a one year period, is the initial award under a proposed four-year project to develop a Vessel Detection System Testbed for deployment off the New Jersey coast.  The Vessel Detection System will enhance the US Navy’s anti-terrorism and force protection capability by providing an at sea platform based on OPT’s PowerBuoy technology to support sensors for littoral maritime surveillance. The system capability includes detection, tracking and communication of information on a timely basis.  

Mikros will provide system engineering services to OPT for the VDST development. These services include the design and development of system interfaces to the Navy’s Tactically Integrated Sensors (TIS) system which will provide a Common Operating Picture of littoral activity to the VDST user.

About Mikros

Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications.  Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering.  Mikros’ primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities.  For more information on Mikros visit: www.mikros.us

Source: Mikros Systems Corporation

CONTACT:  Thomas J. Meaney - (609) 987-1513

Important Information about Forward-Looking Statements:  All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-KSB for the year ended December 31, 2007 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.  

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