Mission Ready Reports Q1 2022 Financial Results

CEO to Host Live Event with Q&A on Thursday, June 2, 2022

VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 31, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its first quarter 2022 (“Q1 2022”) financial results for the three months ended March 31, 2022.

The following are highlights for Q1 2022 (all dollar figures are quoted in Canadian currency unless otherwise specified):

  • Gross revenues of $1.07 million
  • Gross margin of 49% for the period
  • 68% decrease in liabilities from the same period in 2021
  • Net income of $0.28 million
  • Adjusted EBITDA was $0.95 million
  • $2.59 million working capital (a decrease mainly due to cash payments related to the debt settlement agreement with Product Sources Group, LLC and JD. United Manufacturing Co. Ltd)

A copy of the unaudited condensed consolidated interim financial statements for Q1 2022 and the associated Management’s Discussion and Analysis (“MD&A”) are available on SEDAR.com under the Company’s profile.

Buck Marshall, President and CEO of Mission Ready, will host a live Q&A period on Thursday, June 2, 2022, at 11:00 AM ET (8:00 AM PT), where management from Mission Ready will be available to answer questions. Questions can also be submitted prior to the event at MRS-IR@MRSCorp.com.

To register for the event, please visit:

https://us06web.zoom.us/webinar/register/6916539595893/WN_N2YYQN1eR4mSRNJnuqQoDQ

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule (“MAS“) contracts awarded and administered by the United States General Services Administration, Mission Ready’s wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com.
You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Solutions Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

Mission Ready Supports Humanitarian Efforts for Ukraine

Sources IFAKs for Support Hospitals in Ukraine

VANCOUVER, BRITISH COLUMBIA, CANADA – May 25, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, announces that, in collaboration with its networks of vendors, the Company is actively fulfilling orders to ship needed tactical medical supplies to Support Hospitals in Ukraine, a non-profit organization currently focusing on delivering tactical medicine, field surgery kits and trauma supplies as a result of Russia’s war on Ukraine.

The Company has successfully sourced within its network a sustainable flow of Individual First Aid Kits (IFAKs) from The Resource Center that will be delivered to the Ukrainian Ground Forces in eastern Ukraine. From there, the IFAKs will be delivered to combat medics on the frontline to respond to the growing need.

“With healthcare workers and facilities directly targeted as part of current Russian warfare tactics, Support Hospitals in Ukraine work is essential to ensure that Ukrainians on the front lines are able to receive medical care and attention,” said Buck Marshall, President and CEO of Mission Ready. “The team of Support Hospitals in Ukraine had to change their focus to respond to the emergency, and we immediately responded to their call for support. With the help of our established network of vendors, we were able to source and provide their organization with much-needed items currently in high demand over the world.”

“The war in Ukraine has created a tremendous amount of pressure on a structure that was already fragile,” said Pasha Fedorenko, Co-Founder of Support Hospitals in Ukraine. “With their demonstrated crisis response capabilities along with their ability to secure virtually anything needed, Mission Ready has allowed us to provide people on the frontline with a continued flow of essential items.”

About Support Hospitals in Ukraine

Support Hospitals in Ukraine has been delivering humanitarian medical aid to Ukraine since 2014. In order to address the critical needs resulting from Russia’s war on Ukraine, Support Hospitals in Ukraine has shifted its focus to providing tactical medicine and field surgery supplies. When the war is over, Support Hospitals in Ukraine will continue providing medical equipment and supplies to the hospitals in Ukraine to rebuild the country. For more information, visit www.uahospitals.org.

To directly support their efforts to deliver modern medical equipment & supplies, visit www.uahospitals.org/donate (all donations are tax-deductible in the USA).

About The Resource Center

The Resource Center operates manufacturing facilities in Jamestown and Dunkirk, NY, that provide employment and work training opportunities for people with disabilities.

The Resource Center performs subcontracting work for the United States government and has produced items for the U.S. military for more than 40 years. Involved in several high-profile initiatives over the years, the workers at The Resource Center started producing Individual First Aid Kits in 2003 that were given to every U.S. Marine who crossed into Iraq at the start of the Gulf War. The Resource Center has also supported international relief efforts, notably providing water-purification tablets to tsunami survivors and donating mosquito netting to Africa.

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule (“MAS“) contracts awarded and administered by the United States General Services Administration, Mission Ready’s wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com.
You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

 

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Solutions Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

MISSION READY NEWSLETTER | MAY 2022 | SHAREHOLDER UPDATE & MESSAGE FROM THE CHAIRMAN

Fellow Shareholders,

As we’ve alluded to in our most recent press release, our priority has been to showcase Mission Ready’s capabilities. We have successfully met with United Nations and Ukrainian representatives and continue working with them to establish positive relationships.

The current global political climate has increased the possibilities for foreign military sales and, more crucially, highlighted the need for reliable sources to meet the demand of international crisis and humanitarian response efforts. Consequently, we have developed materials that demonstrate our strengths in these two areas, and we are in constant contact with foreign governments, intergovernmental organizations, and humanitarian groups.

As part of these newly established connections, Mission Ready is working alongside Task Force Antal (“TFA”). TFA is a non-profit organization specializing in crisis management and evacuation support for U.S. Citizens, lawful permanent residents, allies, and their families.

TFA’s inception lies in the end of U.S. operations in Afghanistan. Since then, TFA has successfully managed the safe evacuation of over 1,400 American Citizens, legal permanent residents, and individuals with Special Immigrant Visas, including several high-value assets with heightened security profiles, from Afghanistan. Through its extensive network of trusted assets on the ground, TFA ensures that the basic needs of those in hiding are met and work to coordinate eventual evacuation.

TFA’s team has been working around the clock to ensure that U.S. Citizens, Ukrainian American families, vulnerable Ukrainians, and third-country citizens are safe until they can find passage out of Ukraine to escape the Russian invasion. With countless women and children among them, these people are under constant threat of violence and death.

As some of you have also witnessed through our social media, we have also started working with Support Hospitals in Ukraine, a non-profit organization committed to supporting hospitals in Ukraine with much-needed modern medical equipment and supplies.

To address the critical needs caused by Russia’s war on Ukraine, Support Hospitals in Ukraine are shifting the focus to meeting the most urgent need, by providing tactical medicine and field surgery supplies.

While both these relationships are at their debut, our organizations are aligned and we are mutually committed to working together to support Ukraine.

InvestorIntel.com recently published a story by Matt Bohlsen on April 6th that is Trending in their Top 10 section at #2, which may be accessed at the following link Trending – InvestorIntel. And the story, titled Mission Ready Solutions enters 2022 with a new USD$200 million contract from the U.S. Department of Defense may be accessed here https://bit.ly/3K9MUuW

In parallel to our efforts to put Mission Ready at the forefront, we are focused on the growth and scaling of our operations. We firmly believe that these strategic approaches will support our short- and long-term objectives. While scaling entails increasing our short-term revenues, we want to ensure we do so without significantly exhausting our resources. The submission to the V.A. schedule as a prospective addition to our current GSA schedules is a perfect example of the Company’s revenue streams expansion plan. Through our networks and favorable positioning, we have also highlighted areas of need for governments and agencies. We have been working on identifying products, solutions, and technologies that will help us meet future demands. As a result, we have established or strengthened ties through distribution and dealer of record agreements to enhance our offering. We have worked on bringing those partnerships to light for the last year as a glimpse of our progress behind the scenes.

We have bolstered our team, adding industry experts who bring established networks and specialized knowledge to our Company. We have also invested in enhancing our manufacturing capabilities over the last year and are in active discussions for OEM opportunities. We’ve also identified additional revenue streams that would require additional human and manufacturing resources. As a result, we have assessed and forecasted these potential needs and have formed strategic alliances that will support us in meeting and exceeding these new requirements.

Finally, a word from our Chairman, Major General (Retired) James “Spider” Marks:

“As a follow-up to my recent share disposition, I would like to provide some context to clarify that my decision to monetize these shares at this time is in no way a reflection of my sentiments on the direction or future of Mission Ready, and was transacted for the sole purpose of satisfying certain time-sensitive personal obligations. To be clear, I am more bullish on Mission Ready as a Company than ever before which is why I am pleased to have been able to fund the bulk of my requirements through alternate sources of capital. Believing strongly that Mission Ready is on a path towards unprecedented growth and success, both near and long-term, I have every intention to rebuild and bolster my equity position in the Company.”

 

Buck Marshall
(Signed “Buck L. Marshall”)
President & CEO

 

For further information on Mission Ready Solutions Inc., visit MRSCorp.com or contact:

 

Investor Relations
T: 1.877.479.7778 – Ext 5
E: MRS-IR@MRSCorp.com

 

Forward-Looking Information
This newsletter contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Solutions Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

Mission Ready Highlights 2021 Financial Results

VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 3, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its 2021 audited consolidated financial statements for the year ended December 31, 2021 (“FY 2021“).

The following are highlights for FY 2021 (all dollar figures are quoted in Canadian currency unless otherwise specified):

  • Gross revenues of $91.99 million
  • Gross margin of 8.80% for the year
  • 26% decrease in liabilities from previous year
  • Cash and cash equivalents of $7.89 million (an increase of $6.26 million from the same period in 2020)
  • Net loss of $0.74 million (a decrease of $0.60 million from a net loss of $1.34 million in the same period in 2020)
  • Operating expenses relative to total revenue decreased to 10.32% (as compared to 10.56% for the same period in 2020)
  • Adjusted EBITDA was $4.50 million (an increase of $1.71 million from the same period in 2020)
  • $20.99 million working capital improvement from previous year

A copy of the audited consolidated financial statements for the year ended December 31, 2021, and the associated Management’s Discussion and Analysis (“MD&A“) are available on SEDAR.com under the Company’s profile and on Mission Ready’s website.

“Our ongoing efforts to source products to respond to the current global crises along with our demonstrated ability to identify and deliver high-quality products and solutions have opened up opportunities for our Company to showcase itself on a larger level,” said Buck Marshall, President and CEO of Mission Ready. “Our recent visit to New York allowed us to showcase the breadth of our offering, our capacity to identify leading technologies and how they could become game-changers for the world’s largest police force.”

Marshall continued, “During the coming weeks, our priority will be to keep that momentum and continue to put Mission Ready at the forefront. We will be meeting with United Nations and Ukrainian representatives to showcase our capabilities while working on securing relationships that could give us a competitive advantage. We are confident that this strategic catalyst-driven approach will help us bring those imminent events to fruition while continuing to create opportunities. As a result, the Company’s management team will be hosting the earnings call typically associated with filing its yearly financials immediately after filing its Q1 2022 financial statements.”

“Upon joining Mission Ready, one of my priorities was to implement communication channels independent of the Company’s disclosure obligations. As a result, we have participated in investor conferences and hosted live events throughout the months to address shareholders’ questions and allow them to witness the management team’s progress. Through upcoming earnings and investor calls, I intend to pursue the efforts to foster a positive relationship and open channels with shareholders and investors,” concluded Marshall.

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule (“MAS“) contracts awarded and administered by the United States General Services Administration, Mission Ready’s wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com.
You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

 

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Solutions Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.