MISSION READY NEWSLETTER | AUGUST 2022 | SHAREHOLDER UPDATE & Q2 FINANCIAL RESULTS

Fellow Shareholders,

As you know, we have recently filed our Q2 financials. Below is a summary of the key information for the six months ended June 30, 2022:

  • Gross revenues of $3 million
  • Gross margin of 29% for the period (reflecting the generally higher margins the Company receives on products manufactured in-house)
  • 13% decrease in operating expenses from the same period in 2021 (primarily associated to a reduction in professional fees, wages and benefits and stock-based compensation)
  • $1 million working capital (mainly due to repayments on notes payable)
  • $2.2 million of cash and cash equivalents

As we approach the end of the fiscal year for the US Government (September 30), I would like to provide some insights into the active opportunities in the pipeline, our corporate vision and our strategic positioning as it relates to the global economic conditions and our readiness to react quickly, respond competitively and perform flawlessly. I can say with utmost confidence that our company positioning is stronger than ever. Our capacity to generate profits has been exponentially increased over the last year, with upwards of 60 active responses for solicitations, representing an estimated potential over $1 Billion US dollars. We remain highly confident in our ability to capture and monetize a substantial portion of these existing opportunities while we continue to build our burgeoning pipeline with additional opportunities for the future.

While government contracting delays have been experienced across our industry, our team has utilized the time to respond to solicitations, develop and maintain strategic partnerships, and continue refining our order fulfillment processes. With the recent changes within our structure, our companies are utilizing resources more efficiently than ever before, building layered revenue streams both within and outside of the realm of government contracting.

Consequently, the Company has been directing certain resources towards the development of its innovations and manufacturing divisions, PTF Innovations (“PTFI”) and PTF Manufacturing (“PTFM”), respectively. Now led by Francisco Martinez, Chief Technology Officer of Unifire (as announced in a news release dated July 21, 2022), both PTFI and PTFM are well-situated to capture several development and manufacturing contracts, any one of which would quite conceivably elevate both divisions to levels not yet reached in the Company’s history.

Through our current OEM work, we have optimized our manufacturing processes, expanded our capabilities, positioned ourselves as a robust alternative for domestic cut and sew services within our networks, and expanded our scope considerably by creating an emerging network of cut and sew facilities through the formation of strategic alliances.

The General Services Administration (GSA) has now finalized the consolidation of the numerous GSA Schedules under a single Multiple Award Schedule (MAS) encompassing, among others, all the categories of products and services offered by Unifire. Unifire’s team continues identifying disruptive products, solutions and technologies that match the emerging needs of our customers for inclusion in our GSA product catalog. With the completion of the MAS consolidation project, we are optimistic that our submission to be part of the VA GSA Schedule will now soon be decided, and with our current and expanding network of medical supply vendors and manufacturers, effectively complement the products offered under the estimated $14B annual budget.

Our team also recently attended the 144th General Conference & Exhibition, where we presented to more than 2,000 Army and Air National Guard officers from all 50 states.

Putting ourselves at the forefront and showcasing our capabilities within our industry remains a priority. We recently added another arrow in our quiver by creating a Procurement Pathway Guide, a tool that will be essential for the people we meet to understand the different pathways available to them for procurement through Unifire’s contracting vehicles.

Finally, as experts forecast that global tensions and attacks on Ukraine will continue to escalate, our work with Task Force Antal and Support Hospitals in Ukraine has been instrumental in supporting our allies. This also emphasized the need for other countries to carefully evaluate their emergency response strategy and needs, directly translating into increased opportunities for Foreign Military Sales (FMS). We continue active discussions with allied countries and organizations to provide solutions and identify potential areas of need. These strategic partnerships in Central and Eastern Europe act as force multipliers for Mission Ready through the critically important relationships that will drive purchasing when the US Government allocated funds finally make their way to contracting opportunities.

 

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.

Unifire Salutes the bipartisan CHIPS and Science Act of 2022

Exclusive Cybersecurity Solution QRCrypto Announces Publication of Application in the US

SPOKANE, WASHINGTON – AUGUST 17, 2022 – Unifire Inc. (“Unifire” or the “Company“), a wholly-owned subsidiary of Mission Ready Solutions Inc (“Mission Ready“) (TSX Venture: MRS) (OTCQX: MSNVF), applauds the signature of the bipartisan CHIPS and Science Act of 2022 into law.

 

The CHIPS and Science Act of 2022 will foster growth for American manufacturing, supply chains, and national security while investing in research and development, science, and technology. Importantly, the Act will also focus on quantum computing.

 

“Over the last few years, we have seen an increase in our government’s awareness of quantum information science (QIS) and their efforts to maintain our competitive advantage in the field,” said Dan Raczykowski, President of Unifire. “Today’s law encourages transformative and fundamental research while continuing to emphasize the need to mitigate potential risks to our Nation through currently identified vulnerabilities by adopting quantum-resistant cryptography.”

 

Unifire is also pleased to announce that QRCrypto, the Company’s exclusive cybersecurity partner in the Federal marketplace, recently had its US Patent application for its Quantum-Resistant SIM Card published by the United States Patent and Trademark Office. QRCrypto’s quantum-resistant SIM card is configured to enable access to mobile or integrated telecommunications networks for a cellular communication device while enabling quantum-resistant message (USSD, SMS) exchange and beyond, depending on the mobile device generation.

 

With the advancement of quantum computing, holding the potential to drive innovation across a multitude of sectors, quantum computers also pose significant risks with their capacity to break current cryptography code and, by extension, almost all current communication systems.

 

 

For any inquiries on QRCrypto Quantum-Safe Cyber Defense Solutions, email us at govsales@unifireusa.com or call at 1 (800) 745.3282 option 2. Unifire sales team will be happy to assist you.

 

 

About QRCrypto

 

QRCrypto cybersecurity solutions are simple but effective! With its Plug & Play solutions including software or SIM, QRCrypto protects end users’ communications, from 2G to 6G, and includes the proprietary Quantum Protection without the need for any expensive hardware or complex installation.

 

QRCrypto offers a solution currently recognized as the only quantum-safe algorithm in 5G systems by the United Nations specialized agency for information and communication technologies, International Communications Union (“ITU”). With QRCrypto’s groundbreaking solutions, today’s technology would be ready to resist tomorrow’s attacks.

 

 

About Unifire Inc.

 

Unifire, Inc. specializes in providing top-performing products, training, and solutions to military, fire rescue, and law enforcement worldwide and ensuring mission success. With extensive knowledge and experience in providing turnkey solutions to the United States Federal Government, Unifire leverages its robust vendor network, time-proven industry relationships and proprietary technology infrastructure and industry-leading manufacturing and distribution capabilities to efficiently source and deliver mission-critical, life-saving products in cooperation with government program managers, military and federal contracting offices, base supply centers, and other federal, state and local supply agencies.

 

For further information on Unifire Inc., visit UnifireUSA.com. You can also subscribe to our mailing list at eepurl.com/hzut7z to receive our press releases and latest news directly by email.

 

Media Contact

Inquiries@UnifireUSA.com

+1 877.479.7778 (Ext. 5).

 

Unifire Inc.

 

(Signed “ Dan Raczykowski “)

 

Dan Raczykowski
President

T: +1 (800) 745.3282

 

Forward-Looking Disclaimer

 

This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

 

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Unifire’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Unifire undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Unifire to predict or assess the impact of each such factor or the extent to which any factor, or combination thereof, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.