BNET Industries

Last Fiscal Year Sales:$336.9K
  • Public
  • US
Dow Jones Description

Flight Safety Technologies, Inc. was founded in 1997 with a mission to improve the safety and efficiency of air travel in America and around the globe. At its inception, the company's main focus was advancing technologies to detect and monitor wake turbulence created by aircraft as they take off and land. More recently, Flight Safety's focus has expanded to include other technologies that aim to improve air travel.

President & CEOKenneth Wood
Number of Employees 3
Contact Information

28 Cottrell St

Mystic, Connecticut 06355

www.flysafetech...

(860) 245-0191

NAICS Code Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing: 334511

News & Analysis

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flight safety technologies inc. - All News and Analysis

  • Flight Safety Technologies, Inc. Announces Development Contract

    - 2009-04-07

    KNOXVILLE, Tenn. -- Flight Safety Technologies, Inc. (OTCBB:FLTS) announced today that its wholly owned subsidiary, Advanced Plasma Products, Inc. APP has entered into a funded development contract with...

  • Flight Safety Technologies, Inc. Announces Delisting from AMEX

    - 2008-09-22

    MYSTIC, Conn. -- Flight Safety Technologies, Inc. (AMEX:FLT) announced today that on September 19, 2008 it withdrew the appeal it had filed to contest the decision of the American Stock Exchange to initiate delisting of the Company's common stock and common stock purchase warrants from the Amex because of the...

  • Flight Safety Technologies, Inc. Announces Completion of License with UTRF and Other Developments

    - 2008-09-10

    MYSTIC, Conn. -- Flight Safety Technologies, Inc. (AMEX:FLT) announced today that on September 10, 2008 it finalized its license agreement with the University of Tennessee Research Foundation for patent rights related to atmospheric glow plasma technology, and has also completed the acquisition of assets from AGT, Inc, the former licensee...

  • Flight Safety Announces Licensing of Technology from University of Tennessee Research Foundation

    - 2008-08-11

    MYSTIC, Conn. MYSTIC, Conn. -- Flight Safety Technologies, Inc. (AMEX:FLT) announced today that on August 7, 2008, it executed a letter of intent with the University of Tennessee Research Foundation UTRF for the licensing of patent rights related to atmospheric glow plasma technology. The agreement provides for exclusive worldwide rights...

  • Flight Safety Appeals Amex Delisting Decision

    - 2008-07-08

    MYSTIC, Conn. -- On July 3, 2008, Flight Safety Technologies, Inc. (AMEX:FLT) received notice from the American Stock Exchange that, based on the recent Amex status review of the company's plan to regain compliance with certain Amex continued listing standards, the Amex has determined it is appropriate for it to...

  • FedEx Express Earns FAA Certification for Innovative Flight Safety System

    - 2008-06-23

    Technology Enhances 'Situational Awareness' for Safer Takeoffs and Landings MEMPHIS, Tenn. -- FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), has achieved a milestone in innovative flight safety technology with Federal Aviation Administration FAA certification of a new aircraft avionic system that dramatically improves situational awareness for...

  • Flight Safety Announces Settlement of Class Action Suit

    - 2008-04-18

    MYSTIC, Conn. -- Flight Safety Technologies, Inc (AMEX: FLT) announced that the U.S. District Court for the District of Connecticut has granted a motion for settlement of the Class Action Law Suit, In Re Flight Safety Technologies, Inc. Securities Litigation, Civil Action No. 3:04-CV-1175 CFD. Under the terms of the...

  • AMEX Accepts Company's Plan of Compliance

    - 2008-02-07

    MYSTIC, Conn. -- On October 12, 2007, Flight Safety Technologies, Inc. (AMEX: FLT) received notice from the Amex Staff indicating that the Company is below certain of the Exchange's continued listing standards due to losses in three of its four most recent fiscal years and stockholder equity below $4 million,...

  • Flight Safety Announces TIICM Testing Schedule

    - 2008-01-25

    MYSTIC, Conn. -- Flight Safety Technologies, Inc. (AMEX: FLT) announced that the Air Force has scheduled additional live-fire testing of the Company's TIICM MANPADS Countermeasure technology. The Air Force began a live fire test of the TIICM MANPADS Countermeasure system in November at a military test range. The...

  • Flight Safety Announces Settlement of Analogic Law Suit

    - 2008-01-11

    MYSTIC, Conn. -- Flight Safety Technologies, Inc (AMEX: FLT) announced that it reached a settlement in the litigation pending in the U.S. District Court for the District of Massachusetts entitled Analogic Corporation v. Flight Safety Technologies Inc, et al, No. 06- 11288 JLT. Under the terms of the...

Decision Makers

Name (plus bio) Position
Kenneth Wood President & CEO
David D Cryer Chief Financial Officer
Neal E. Fine CTO
Richard Rosenfeld Chief Financial Officer, Vice President Operations
C Robert Knight General Counsel, Vice President Administration, Secretary
Frank L Rees Technical Director, Executive Vice President
James Schwartz Founder of the Investment Manager
Robert O'Neill Program Manager
David C Kring Senior Principal Engineer
Joseph L Chovan Consultant
Richard M. Williams Consultant
Robert L Cooperman Senior Principal Engineer
Stephen P. Tocco Director
Wes Cummins Director

Board of Directors

Name (plus bio) Position
Joseph J. Luca Chairman
Jackson Kemper Board of Directors
Samuel A Kovnat Board of Directors
Organization Position Status
Flight Safety Technologies Inc. President & CEO Current
Data Storage Corporation Program Director Former
Flight Safety Technologies Inc. Board of Directors Former
Data Storage Corporation Director Former

David D. Cryer serves as Chief Financial Officer of Integrated Medical Systems, Inc. Mr. Cryer has more than 20 years experience as a financial manager for a wide variety of contractors and manufacturing concerns. Prior to joining IMS, Mr. Cryer was an independent financial consultant to numerous small businesses. From 1991 to 1993, he served as Controller, Yardney Technical Products, an aerospace-defense contractor. From 1987 to 1991, Mr. Cryer was Chief Financial Officer of Ship Analytics, Inc., a manufacturer of maritime training systems. He was the Manager of Financial Planning at the Hartford Courant, and earlier, Vice President of Finance and Procurement for Trans Technology Corporation, an aerospace-defense contractor. Mr. Cryer graduated from the University of Masschusetts with a Bachelor of Science in Accounting. In addition, Mr. Cryer has completed graduate studies in accounting at the University of Kentucky and received a Masters Degree in Management Science from Ball State University.

Organization Position Status
Lstat Chief Financial Officer Current
Integrated Medical Systems, Inc. Chief Financial Officer Current
Flight Safety Technologies Inc. Chief Financial Officer Current
Breeze-Eastern Corporation Vice President of Finance and Procurement Former
Flight Safety Technologies Inc. Financial Manager Former
Lstat Financial Manager Former
The Hartford Courant Company Manager Former
Yardney Technical Products, Inc. Controller Former
Ball State University Masters Degree In Management Science Former
University of Massachusetts Amherst B.S. Degree In Accounting Former
University of Kentucky Former
Organization Position Status
Flight Safety Technologies Inc. CTO Current
Flight Safety Technologies Inc. Senior Vice President for Technology Current
Flight Safety Technologies Inc. Executive Vice President for Technology Former
Anteon International Corporation Former
Organization Position Status
Flight Safety Technologies Inc. Chief Financial Officer, Vice President Operations Current
Syracuse University B.S In Accounting Former
Organization Position Status
Flight Safety Technologies Inc. General Counsel, Vice President Administration, Secretary Current
The National Institute Former
Indiana University School of Law Former
Organization Position Status
Flight Safety Technologies Inc. Technical Director, Executive Vice President Current
Technology Service Corporation Former
Flight Safety Technologies Inc. Board of Directors Former
University of Maryland M.A. Former

Prior to founding Harvey Partners LLC, a New York based investment management firm, Mr. Schwartz worked at Gilder, Gagnon & Howe, as a Portfolio Manager from 2003-2005 and as an analyst from 2000-2002. From 1990-1998, Mr. Schwartz was a senior producer for NBA entertainment, where he won an Emmy Award. Mr. Schwartz received an MBA from Columbia University in 2000, and a BA in History from Bates College in 1989.

Organization Position Status
Flight Safety Technologies Inc. Founder of the Investment Manager Current
Flight Safety Technologies Inc. Board of Directors Current
Gilder Gagnon Howe & Co. LLC Portfolio Manager Former
Gilder Gagnon Howe & Co. LLC Analyst Former
Columbia University MBA Former
Bates College BA In History Former
Organization Position Status
U.S. Navy Physicist Former
University of Northern Colorado Master's Degrees In Physics Former
University of Washington Master's Degrees In Physics Former
Williams College B.A. In Physics Former

Dr. Kring received his PhD from the Massachusetts Institute of Technology in 1994 and worked there until 1999 as a Senior Research Engineer and Lecturer in the Research Lab of Electronics and the Dept. of Ocean Engineering. He has extensive experience in the analysis and design of systems that require multiple engineering disciplines such as fluid dynamics, acoustics, signal processing, structural analysis, and nonlinear dynamics. From 1999 to 2004, Dr. Kring worked for Anteon Corporation on a number of projects for the US Navy and for various commercial ventures.

Organization Position Status
Flight Safety Technologies Inc. Senior Principal Engineer Current

Mr. Chovan retired from Lockheed Martin/Martin Marietta/General Electric in 2002 after 43 years of experience in research and advanced development. Technology areas included (but were not limited to): radar, sonar, optical heterodyning, holography, coherent optical processing, automated inspection systems involving video inputs, fiber optic sensors, and sensing sound with laser beams. Mr. Chovan has numerous patents spanning several of these areas. The later years involved considerable effort in sensing sound with laser beams, including performing system integration for SOCRATES under contract with Flight Safety Technologies. Mr. Chovan graduated from the University of Pittsburgh in 1959 with a BS degree in Electrical Engineering. He is presently a consultant with Flight Safety Technologies, Inc.

Organization Position Status
Flight Safety Technologies Inc. Consultant Current
University of Pittsburgh BS Degree In Electrical Engineering Former

For more than 28 years, Dr. Williams has been involved in advanced development project management, Department of Energy laboratory work, and work in academic environments. He has recently retired as project manager of the Ocean, Radar & Sensor Systems division of Lockheed-Martin Corporation (NYSE), and is now a consultant to Flight Safety Technologies. During his time with Lockheed-Martin, Dr. Williams served as a project leader on several security-sensitive programs and two advanced development projects which included equipment installation and tests on submarines and surface ships. Dr. Williams graduated from Oregon State University with a Ph.D. degree in Physical Oceanography and from Princeton University with a M.S.E. degree in Aerospace Engineering and a B.S.E. degree in Aeronautical Engineering.

Organization Position Status
Flight Safety Technologies Inc. Consultant Current
Lockheed Martin Corporation Project Manager Former
Radar Inc. Project Manager Former
Lockheed Martin Corporation Project Leader Former
Oregon State University Ph.D. Degree In Physical Oceanography Former
Princeton University Ph.D. Degree In Physical Oceanography Former
Princeton University M.S. Former
Oregon State University B.S.E. Degree In Aeronautical Engineering Former
Organization Position Status
Raytheon Company Former
University of Maryland M.A. In Applied Mathematics Former
Temple University A.B. In Physics Former

Joseph J. Luca is the owner of Joseph J. Luca, CPAs, a New England public accounting firm. Mr. Luca's experience includes expert witness testimony and valuation cases for acquisitions, mergers and sales, divorce, buy-sell agreements, insurance frauds and tax fraud. From 1993 to 1999, Mr. Luca served as the CFO and Director of Administration and Finance of The Massachusetts Port Authority where he was responsible for all aspects of authority-wide financial and business matters of a three hundred million dollar budget. Mr. Luca is a Certified Public Accountant in Massachusetts and Rhode Island and is a member of the American Institute of Certified Public Accountants, the Massachusetts Society of Certified Public Accountants. Mr. Luca served on the Governor's Council for Small business Entrepreneurs in 1987, and was a member of the Executive Office of Transportation & Construction Privatization Committee in 1992.

Organization Position Status
American Institute of Certified Public Accountants Member Current
Flight Safety Technologies Inc. Chairman Current
American Institute of Certified Public Accountants Board of Directors Current
Massachusetts Port Authority Cfo Former
Massachusetts Port Authority Director of Administration and Finance Former
Flight Safety Technologies Inc. Board of Directors Former

Mr. Kemper's background includes serving as the Corporate VP and later as the Director of Marketing at Diagnostic Retrieval Systems Inc. (AMEX), a high tech defense industry firm where he was involved in government relations and in the acquisition of two other defense and high technology companies. Before joining that company, Mr. Kemper was an electrical engineer and the branch head of airborne displays with the U.S. Navy's Air Development Center. He is currently the Chairman and CEO of Kemper Company LLC, a lobbying organization situated in Washington, D.C.

Organization Position Status
Flight Safety Technologies Inc. Board of Directors Current
Organization Position Status
Flight Safety Technologies Inc. Board of Directors Current
Flight Safety Technologies Inc. Chairman, CEO Former
Organization Position Status
Mintz Levin Cohn Ferris Glovsky and Popeo PC President & CEO Current
Ml Strategies, LLC President and CEO Current
Flight Safety Technologies Inc. Director Current
University of Massachusetts Amherst Board of Trustees Current
Massachusetts Port Authority CEO Former
The Strategy Group President Former
Associated Builders and Contractors (ABC) executive vice president Former
Massachusetts Port Authority Executive Director Former
Massachusetts Port Authority Assistant To Governor Former
Education, Inc. Chairman Former
Massachusetts Port Authority Secretary Former
Nichols College Ph.D. in humane letters Former

Mr. Cummins is President of B. Riley and Co. Inc., an investment banking firm, where he oversees the firm's financial advisory and capital raising services to middle-market, publicly traded companies. Mr. Cummins joined B. Riley's Research Department in February 2002 and was promoted to Director of Research in January 2003. During his tenure, he grew B. Riley's research coverage to more than 100 companies in the following sectors: retail, semiconductors, technology hardware, software, IT services, communications, media and healthcare. While Director of Research, Mr. Cummins was ranked #1 in the 2004 Forbes.com/StarMine-North American Analyst Survey in the Best Stock Picker category for the Communications Equipment sector. Prior to joining B. Riley, Mr. Cummins worked at Needham & Company and at Kennedy Capital Management. He holds a B.S.B.A. degree from Washington University in St. Louis.

Organization Position Status
B. Riley & Co President Current
Flight Safety Technologies Inc. Director Current
Strasbaugh Board of Directors Current
B. Riley & Co Director of Capital Markets Former
Kennedy Capital Management, Inc. Former
Needham & Company Inc. Former
Washington University B.S.B.A. Degree Former
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