Monthly Archives: May 2023

VANCOUVER, BRITISH COLUMBIA, CANADA – May 16, 2023 – Mission Ready Solutions Inc. (“Mission Ready” or the “Company“) (TSXV: MRS) (OTCQB: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, announces that Terrace L. Nixon has resigned as the Chief Compliance Officer and a member of the board of directors of the Company, effective immediately. Mr. Nixon leaves Mission Ready’s Management and Board of Directors positions to focus on personal endeavors and increasing professional commitments. Buck Marshall, President and CEO, will assume Mr. Nixon’s position on the audit committee.

Mission Ready would like to extend its sincere gratitude to Mr. Nixon for his valuable contributions and unwavering commitment during his tenure. We are confident that the strong corporate culture he helped instill within our organization will continue to guide us as we navigate future challenges and opportunities.

“Terry has played an instrumental role in the Company’s development, serving in several executive-level, board and committee positions since the Company’s inception in 2009,” said Spider Marks, Chairman of the board of directors of Mission Ready. “During this time, he has made innumerable contributions to the success and growth of the Company, drawing on a wealth of experience acquired throughout a lengthy and successful professional career. On behalf of the Board of Directors, Company management, and our shareholders, I wish to thank Terry for his support.”

“Terry Nixon states, “It has been a genuine pleasure working alongside the extraordinary team of consummate professionals that I will forever consider my Mission Ready family. I am exceedingly proud of what we’ve accomplished together during my 14-year tenure with the Company, and I have every confidence in the ability of this group to lead the Company well, dream big and continue to reach new heights on the road to success.”

Buck Marshall, President and CEO of Mission Ready, states, “As Mission Ready advances its mandate to deliver innovative, mission-critical solutions to protect those who protect us, we remain steadfast in our dedication to the highest level of compliance, corporate governance and operational integrity. Building from this foundation, we continue to position the Company for long-term success and the creation of sustainable shareholder value. In addition to the strong impetus we’ve enacted for capturing recurring revenue streams, we are also actively working to identify and engage certain highly-talented industry professionals with experience necessary to help the Company expand its access to existing opportunities, and provide valuable insights into future requirements through trend and predictive analysis.”

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.

VANCOUVER, BRITISH COLUMBIA, CANADA – May 9, 2023 – Mission Ready Solutions Inc. (“Mission Ready” or the “Company“) (TSXV: MRS) (OTCQB: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, today announces that the Company’s Multiple Award Schedule (“MAS“) has been renewed for a 5-year period by the General Services Administration (“GSA”).

“Over the last year, the Company has optimized its processes and bolstered its offering to capture additional opportunities within the full spectrum of U.S. Government while highlighting the multiple government vehicles Mission Ready’s contracting division, Unifire, Inc. (“Unifire”), has in place to provide government agencies with needed products,” said Dan Raczykowski, President of Unifire. “By emphasizing the readily available procurement pathways, we’ve been able to leverage our MAS and maximize its revenue-generating potential.”

As a result of this optimization, the Company is pleased to share the following highlights associated with its MAS:

• The number of sales orders year to date is up 227% compared to the same period in 2022, representing an increased overall value of 57% to date.
• The average number of sales per month has increased 41% year to date.

“We are committed to showcasing our network’s unique products and putting them at the forefront of our value proposition by ensuring their accessibility through our established contracting vehicles,” said Buck Marshall, President and CEO of Mission Ready. “Our ongoing efforts to identify emerging needs and source corresponding solutions coupled with the optimization the team at Unifire has precisely executed is now effectively positioning us to meet and potentially exceed our objectives for MAS for this year.”

About GSA

The U.S. General Services Administration (GSA) aims a delivering the government the products and solutions they need. Multiple Award Schedules (MAS) are long-term government contracts.

With the power of MAS, you have millions of products and services at your fingertips which have been approved for purchase by federal, state, and municipal agencies utilizing federal dollars. Through its privileged access to GSA and MAS, Unifire leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading distribution capabilities to efficiently source and deliver mission-critical products and solutions. Unifire holds the MAS GS-07F-268AA.

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience delivering quality, 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.

VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 2, 2023 – Mission Ready Solutions Inc (“Mission Ready” or the “Company”) (TSX-V: MRS) (OTCQB: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its 2022 audited consolidated financial statements for the year ended December 31, 2022 (“FY 2022”).

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

• Gross Revenues: $5.52MM
• Gross Margin: 17%
• Net Income (loss): (22.5MM) ¹
• Decrease in Operating Expenses: 29% ²
• Decrease in Total Liabilities: 42% ²

^{(1) Primarily consists of impairment loss on Unifire goodwill recognized in Q4 2022.
(2) As compared to previous year.}

A copy of the audited consolidated financial statements for the year ended December 31, 2022, and the associated Management’s Discussion and Analysis (“MD&A”) are available on SEDAR.com under the Company’s profile.

The Company previously recognized goodwill and intangible assets related to the Unifire, Inc. (“Unifire”) acquisition. The Company reviews goodwill and intangible assets annually and records any necessary impairments. The timing of contracts has resulted in significant year-over-year fluctuations in Unifire’s revenues, making it difficult to project future revenues reliably. As a result, the Company recognized a non-cash impairment on goodwill and intangible assets totaling $17,809,224. This impairment does not affect the Company’s cash position, cash flow from operating activities, or future operations.

“Management’s decision to recognize a write-down (impairment) on the goodwill (and other intangible assets) associated with the Unifire acquisition during the fourth quarter of 2022 was made to mitigate the potential impairment of income during future reporting periods,” said Buck Marshall, President and CEO of Mission Ready. “Given the many open solicitations and sales opportunities before the Company – many of which are significantly past the original award dates – we are hopeful that these delayed opportunities will begin to come to fruition in the very near term. It is our belief that the strategic decisions we make now will have a great and lasting impact on the Company’s success down the road.”

The Company also provides further insight into the recent Ballistic Combat Shirt (BCS) solicitation. The Company had previously received a request to maintain pricing through April from the US Army Contracting Command-Aberdeen Proving Ground. The Company subsequently received another amendment signed by Company officials on April 18, 2023, effectively moving the solicitation’s expected response to October 2023.

“The latest amendment to the solicitation reaffirms the ongoing requirement and aligns with the US. Government’s new fiscal year that could see appropriations for the ballistic combat shirt,” said Francisco Martinez, Chief Technology Officer. “Soldier’s protection remains at the forefront of the US Army priorities for troop enhancements, ensuring that they augment soldier’s mobility while optimizing protection.”

The Company also provides additional insight following its attendance at the Make PPE in America Industry Day. The event, hosted by the Department of Health and Human Services (HHS), also included senior members from the Defense and Logistics Agency (DLA), the Department of Homeland Security (DHS), and the Department of Veterans Affairs (VA). During the event, the agencies provided additional visibility into their current procurement structure, past performance, and goals. Notably:

• VA and DLA currently have active inventories and share a similar structure in procurement, using Prime Vendor programs, Distribution and Pricing Agreements, and Blanket Purchase Agreements to ensure long-term procurement and readiness.
• VA and the Secretary of Defense are working on readiness and resilience, ensuring they can respond to the 4th mission, acting as a backstop for the US healthcare system in the case of catastrophic events.
• All agencies are unanimously committed not to holding expired PPE.
• The lack of adequate supply of domestically produced PPE was an enormous challenge for the US during the COVID-19 pandemic, and they are committed to never face that challenge again.
• Jointly, their goal is to continue fostering industry growth, favoring 2+ years contract domestically sourced, reinforcing compliance of PPE products, and ensuring that the industry is promoted, namely through innovation, helping its products stand out internationally.

Buck Marshall added, “The need for Made in America PPE and the desire to support an industry that jointly stepped up to the challenge when the government called for help is at the forefront of the discussions, and we look forward to continuing to provide US-made solutions to respond to the demand.”

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, 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.