David Groen has performed in a GBA executive management role for more than twenty years, nearly a decade and a half of which as its President & CEO. Immediately prior to forming Groen Brothers Aviation, David Groen was a founding partner and Chief Financial Officer (CFO) for Seagull Recycling Company. Previously, he has held numerous executive positions in the helicopter industry with Sales and Marketing, Safety Officer, Branch Manager, and Chief Pilot responsibilities.
David Groen has extensive military and commercial experience in helicopters, having logged over 7,000 hours in rotor-wing and fixed-wing aircraft. As a combat helicopter pilot and Aircraft Commander in Vietnam, he flew hundreds of combat sorties. These many years of flying, added to his tenure serving in management positions within the rotor-wing industry, gave him a wealth of management and leadership experience in a variety of related fields. David is also co-author, along with his brother Jay, of a best-selling novel entitled "Huey."
David and his brother Jay co-founded GBA in 1986 to develop modern autorotative flight aircraft. Since then, GBA has been involved in an extensive research program in the design, engineering, development, testing and marketing of gyroplane and gyrodyne aircraft. As a result GBA has successfully developed innovative technology that has brought autorotative flight into the modern age.
David Groen and GBA's Board of Directors oversee all Company operations, including its contract with the US Department of Defense DARPA (Defense Advanced Research Projects Agency) to design a proof of concept high speed, long range, vertical takeoff and landing (VTOL) aircraft for use in Combat Search and Rescue roles. GBA-USA also is doing business as (d.b.a.) American Autogyro for all of its SparrowHawk Gyroplane operations.
About Groen Brothers Aviation, Inc.
Groen Brothers Aviation, Inc. (GBA) has been developing gyroplane technology since 1986 and is recognized as the world's leading authority on autorotative flight. GBA developed the world's first commercially viable modern gyroplane -- the first "autogiro" to utilize a jet engine -- the Hawk 4 Gyroplane powered by a Rolls-Royce gas turbine engine. The Hawk 4 was used extensively for security aerial patrol missions during the 2002 Winter Olympics in Salt Lake City.
Through its American Autogyro division, the GBA has also developed and is selling a smaller kit gyroplane, the two seat "SparrowHawk II," and is offering this aircraft as a safe, extremely economical Airborne Patrol Vehicle (APV) for law enforcement and other government applications. GBA is also developing a production two-seat gyroplane for both the "Airborne Law Enforcement" and the "Light Sport Aircraft" (LSA) markets. The Company continues to develop an international and nationwide dealership network for the sale of these products.
GBA announced in October 2005 that the US Defense Advanced Research Projects Agency (DARPA) selected a GBA-led team to design a proof of concept high speed, long range, vertical takeoff and landing (VTOL) aircraft designed for use in Combat Search and Rescue roles. Phase one of this potentially multi-year $40 million four phase program, began with a fifteen month $6.4 million award to develop the preliminary design and perform key technology demonstrations. This modern rotorcraft, named by DARPA as the "Heliplane" is designed to exploit GBA's gyrodyne technology, offering the VTOL capability of a helicopter, the fast forward flight of an airplane, and the safety, simplicity and reliability of a GBA gyroplane. This aircraft type could be the next generation rotor wing aircraft, meeting economy and performance goals not considered achievable by any other type of VTOL aircraft. In August 2006, GBA announced that DARPA had passed GBA's submission for the third Milestone of its phase one contract.
Further information about the Company, its products, and individual members of the GBA Team is available on the Company's web site at: www.groenbros.com.
Safe Harbor Statement/Forward-Looking Information Disclaimer
Certain statements in this news release by Groen Brothers Aviation are forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans; product development and performance; risks associated with regulatory certifications of the Company's commercial aircraft by U.S. and foreign governments; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; governmental export and import policies; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.
