PRESIDENT'S MESSAGE Dear Friends and Investors: Let me begin by saying that I am extremely excited to announce that we have successfully restructured the terms and conditions of the agreement with our Electric Propulsion Systems (EPS) partner. This will provide Armor with unencumbered rights for the national and international sales of several commercially ready vehicles. In addition, this new agreement will allow Armor to move forward and strategically enter into specific sales agreements or joint ventures with potential partners. As a result of this new agreement, Armor has engaged in preliminary manufacturing, marketing and distribution negotiations for the pedi-cab with Hero Motors of India. As we move into Q4 2007, the pedi-cab contract for the BIMO Group of Mexico City is moving forward. Presently, the BIMO Group of Mexico is in the process of finalizing funds for the delivery of the prototype units and travel expenses for the assembly team. Once the units are assembled they will undergo quality stress testing. Upon approval of the prototypes, Armor will ramp our manufacturing partner for initial production orders. We anticipate that all of this will be completed very soon. This is an exciting time for
Armor, and we are working on many fronts to deliver enhanced shareholder
value. We look forward to reporting on further positive developments
on the Company's projects during the coming months. Sincerely Yours, Merrill W. Moses
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