EL SEGUNDO, Calif.–Aura Systems, Inc. (OTCBB:AUSI) announced today that it now has confirmed orders for 2,137 systems for the South Korean military. The above systems include 600 systems to be delivered from the earlier announced 1,000-system order. The 2,137 systems are spread over 7 different programs and have a value of approximately $13 million. Over 80% of the above VIPER systems are to be delivered over the next 4 years with the first shipments to occur in February 2012.
In addition to the above-confirmed orders there are approximately 12,500 additional units under consideration for an additional 4 military programs. While a favorable decision to use Aura’s VIPER on the additional programs is expected over the next six months no assurances can be given as to when or if such other contracts will materialize.
Mr. Melvin Gagerman Aura’s CEO said, “The VIPER mobile power solution is now integrated into seven South Korean military programs and we anticipate additional programs to adopt our VIPER solution. Some of the upcoming new programs will require integration of the VIPER solution with sophisticated advance systems being provided by Kia motors, LIGNEX1, and Samsung Tales. We are pleased to continue to see greater acceptance of our VIPER solution by the South Korean military.”
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company’s Securities and Exchange Commission filings.
For more information on Aura Systems Inc. visit www.aurasystems.com.
