ADFS’ Newest CEO Charts a Path Forward for a Small Company With Big Dreams
Gary Sidorsky, recently promoted to Chief Executive Officer / CFO of American Defense Systems Inc. (OTC:ADFS) gave a press statement over the weekend that renumerated the distinguished history of ADFS in America’s domestic defense industry. At a time when small American companies are struggling to compete internationally and domestically, the new CEO appeared energized to meet today’s challenges head on.
Founded in 2002, American Defense Systems first made headlines by obtaining a contract in 2005 to produce and install armored glass for President George Bush Jr. during his second inauguration ceremony. When Mr. Sidorsky joined the company the following year, ADFS’ product lines grew.
Over the last two decades, ADFS became renowned for having designed numerous products including crew protection kits; VistaSteel transparent armor; VistaSteel opaque armor; VistaGuard windows; blast resistant curtain walls; and mobile, handheld, lightweight police. ADSF also produced ship windows, hinges, latches, and locks; and a live-fire ballistics ranges for training war fighters and law enforcement personnel.
After the company became a regular supplier for military construction in Iraq and Afghanistan, Mr. Sidorsky was also part of the team that negotiated the contract for ADFS to strengthen the physical security at the New York Stock Exchange in February 2009. The following month, they secured a contract to manufacture the bulletproof glass for President Obama’s first inauguration. At that time, as CFO/Treasurer, Mr. Sidorsky managed the company’s filings with the American Stock Exchange, with a payroll of about 90 people in Hicksville, New York; and achieved a 26 percent increase in revenues year-over-year, to about $45 million.
As the defense market started to wind down afterwards, Mr. Sidorsky recommended the company relocate to Raleigh, North Carolina in June 2011, as a cost-cutting strategy aimed at saving $1.5 million a year with lower overhead, along with cuts to staff and salaries. The company has resided there ever since.
While in Raleigh, Mr. Sidorsky assisted ADFS in establishing new business relationships, which included working with MAC Defense on their proprietary prototype Armor Cab Program; General Dynamics Land Systems on the development of a solid propellant fire extinguisher tank for their Combat Vehicle; Caterpillar for engineering work on their 279D CTL; and JCB toward the production of new HMEE B Kits.
Mr. Sidorsky states that after 16 years helping the company grow, he feels he is in the best position to see the company through its current transition. “I am very excited by the new opportunities the company faces… markets that no one could have anticipated prior to the recent pandemic. … Hopefully, we can become an industry leader in the next few years [as] we will build a team that meets the needs and challenges of the future.”
The executive also reiterated the company’s commitment to full regulatory compliance, as they have already selected new accounting and law firms to handle most of the external activities. He projects ADFS would have updated disclosures reports with the OTC Board before the fourth quarter 2020.
American Defense Systems, Inc. (OTC: ADSF) is reorganizing their services into four narrow categories: (1)
TRAINING FACILITIES AND APPLICATIONS: Our core mission is to provide training and supplies to law enforcement, rescue-workers, and healthcare professionals so they can be effective during the next crisis or disaster. (2) STRATEGIC INVESTMENTS: Our secondary mission is to identify, invest in, and partner with other firms that have the facilities America will need to survive the next crisis. (3) REAL ESTATE HOLDING: Providing fixed and mobile medical care facilities wherever and whenever needed. Providing warehousing facilities for the storage and emergency-delivery of food and medical supplies. Acquiring land and development rights for emergency shelters. (4) MARITIME SUPPORT SERVICES: Providing facilities needed to protect and maintain vessels and secure waterways.
Certain statements in this report; statements relating to the development, production, production rates, features and timing of existing and future products and technologies; statements regarding market growth and locations, and repair capabilities; statements regarding growth of our business and the means to achieve such growth; statements regarding growing market opportunities for products and the catalysts for that growth; statements regarding product demand, volume, production, delivery, and market share; statements regarding revenue, cash availability and generation, cash flow, gross margin, product pricing, spending, capital expenditure and profitability targets; statements regarding productivity improvements, cost reductions and capacity expansion plans, such as for customer deliveries, logistics and vehicle servicing; and statements regarding our investment in and the impact of changes to our customer delivery infrastructure, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected.
AMERICAN DEFENSE SYSTEMS INC. (OTC:ADFS)
3440 Toringdon Way
Suite 205, Room 241
Charlotte, North Carolina 28277-3191