Executive

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"Recent developments have placed NanoLance, the San Diego-based corporation and well-known defense contractor, into the media spotlight. A series of incidents, resulting in significant loss of lives here and abroad in combat zones, incidents involving NanoLance manufactured drones, have led the markets to shy away from the company's stock and the public to ask some pointed questions regarding the operational safety of these drones.

"Until recently, the quality of NanoLance's products, for military use and for the consumer market, was enjoying an undisputed reputation for best in class, endless reliability, and unparalleled operational safety. Well, not anymore. Through the voices of a heartbroken public, still mourning the twenty lives lost in Florida last month, concern is being expressed toward the company's ability to regain control over the safety of its products.

"Some voices say that Dr. Barnaby, founder and majority shareholder of NanoLance, is now too old to be able to exercise the needed control over his company. NanoLance needs to take immediate and decisive action to prevent further losses of lives at the mercy of dangerous products.

"Unspecified sources have leaked news of a potential transfer of control, scheduled to take place at the end of this year, when, sources say, Dr. Barnaby will sell the majority of his shares and retire. The same unidentified sources are talking about a potential congressional hearing, scheduled to investigate the defense contractor status of NanoLance and any wrongdoing related to the Florida drone incident.

"However, the US Air Force has not yet released its full report about the Kandahar incident in April, and the Florida incident in June. While a spokesperson with the military was quick to confirm the fact that NanoLance had manufactured both drones, no other findings were released to the public in these two cases. In a third case, the Afghanistan incident last week, no confirmation has been issued about the allegation that a UAV was behind the thirty-six dead and six injured. Therefore, we have no confirmation of a link to NanoLance in this case. Yet.

"NanoLance stock, traded on NASDAQ since 1998 under the symbol NNLC, closed yesterday at $73.28 per share, a 50 percent drop since it started its decline in April of this year.

"Here, from our news studio, we are monitoring the situation and will come back with details as they unfold. You are watching News of the Hour with Stephanie Wainwright."