Exosphere Aircraft Company Inc. (Pink Sheets: EXSA) is counting on Jim Bede and Innovative Communications Technologies Inc. (Pink Sheets: ICTN) to lead them into a promising 2007. Recently the company announced the formalization of an ongoing strategic relationship between EXSA and ICTN.
ICTN currently owns approximately 30 percent or 70 million shares of EXSA in exchange for incubation and management consulting. ICTN’s services have allowed the company to receive funding and further their business.
“Exosphere is entering the light-sport aircraft market at a time when the field is still young. ICTN’s management consulting coupled with their research and development expertise provides Exosphere the needed business development support critical for success in this young industry,” said Jim Bede – director of aeronautical design for EXSA – in a press release. “We are exceptionally proud of this valued and necessary relationship.”
“It is with great pride that we have the opportunity to share in the success of Exosphere and to work with Jim Bede, a legend in General Aviation,” said Ron Henthorn – COO of ICTN – in a press release. “This notes yet another successful venture launched from ICT, adding not only to our revenue stream but to our net worth as well.”
Exosphere Aircraft Company, Inc. manufactures and retails state-of-the-art light-sport aircraft designed to meet the needs of private owners today. Exosphere is discovering ways to integrate performance, fuel efficiency and current design trends with ASTM standards set forth by the FAA, to meet the growing demand for light-sport aircraft.
Jim Bede is a well-known, innovative aircraft designer and has been highly influential in the kit plane market. Bill Lear, creator of the LearJet, called Jim “the best damned airplane designer in the world.” Since 1961, Bede has focused on making flying affordable for everyone, developing his own line of aircraft. The most famous of these, the BD-5 micro-plane was featured in two James Bond movies, “Octopussy” and “Die Another Day.”