Posts in category: NEWSLETTERS

Dear Fellow Shareholders,

In a previous communication, I touched on “the art of knowing the Order of Operations.” I want to expand on this topic to provide a little insight into the genesis and timing of successful contract awards.

I’ve often heard from shareholders that they are eager to learn when Mission Ready will be announcing new or additional contracts – Though I wish the answer to this question could always be black and white, the reality is that we operate in a complex industry with many dynamics in play. The initial stage of a contract can take several forms – It may be a) as preliminary as a Request for Information (“RFI”) whereby the requestor is simply collecting data in advance of potentially submitting a Request for Proposal (“RFP”), b) as advanced as a concrete Request for Quotation (“RFQ”) with a defined award date, or c) somewhere in between. Depending on various factors, a contract may take several months to develop in the case of an RFI, for example, or advance from solicitation to award very quickly in the case of a sole source solicitation.

Assuming we are to the point where we have submitted our proposal on the solicitation, we then have to wait for a decision to be made.  Though these decisions can be made quickly, it is not uncommon that they are delayed or extended for various reasons, often for reasons entirely outside of our control.  To name a few, a contract award may be delayed due to i) a request for additional information, certifications, etc. from a contracting officer, ii) a high volume of solicitation responses to be reviewed, and/or iii) political reasons. To elaborate on the last example, an election year can bring a great deal of changes to processes as we’ve seen these past few months. A change of President often brings a change in priorities, a change in the policies, and a change in the way Congress reacts. As a further complication, when the balance changes in either the House or the Senate, it can have a ripple effect throughout all of the committees. During these time, ranking members, chairs of committees, etc. are all in flux, which can result in a temporary disruption of federal programs and initiatives. Even without these influences, the response period after a solicitation can span many months. The backlog of pending (to be submitted) and completed (submitted and awaiting response) solicitations in the queue at any given time various considerably depending on factors including the time of year (proximity to government fiscal year-end), size and response criteria of the solicitations, and supply chain capacity. We are ever mindful that our shareholders are eager to learn of the status of bids and new awards, and we remain committed to providing timely updates on all material events and significant corporate developments.

One additional point of clarification is to define the difference between a contract award and an order. Some contracts are specific and contain defined quantities and delivery date. Others, however, are classified as Indefinite Delivery, Indefinite Quantity (“IDIQ”) awards where there will be provisions under one contract for multiple orders governed by a much broader set of parameters in relation to delivery timelines and value (E.g., minimum, estimated, and maximum quantities and/or value).  Examples of IDIQ awards received by Mission Ready include the contracts announced in our news release dated September 18, 2020, titled ‘Mission Ready Awarded New Contract for an Estimated $127 Million with a Ceiling of $435 Million’ (the “Contracts”).

Further to the Contracts, we continue to facilitate the delivery of personal protective equipment for the Strategic National Stockpile as we work through the current queue of purchase orders received from the United States Department of Health and Human Services (“HHS”). Facilitated through our wholly-owned subsidiary, Unifire, Inc. (“Unifire”), our team has performed tremendously well in fulfilling the purchase orders received to date across the Contracts, and we are diligently working to leverage this performance for additional orders during the term of the Contracts. In fact, in approximately 6 months, we have delivered 13,328,670 isolation gowns out of an aggregate order of 18 million ordered, as reported in a news release dated March 10, 2021, titled: Mission Ready Provides Update on Product Deliveries, Strategy to Maximize Contract Value.

Switching gears, I often get requests for the Company to increase its communications via social media and other channels. As announced in a news release dated February 2, 2021, we have engaged the services of Victory Media and various consultants to spearhead the rollout of a targeted communications and marketing plan. I am excited to announce that during the 2^nd quarter of this year, we expect to launch our newly branded corporate website alongside a new e-commerce site and social media platforms which is expected to greatly enhance the flow of news and other communications. The aim is to provide transparent and comprehensive access to relevant and interesting news on the Company’s operations, and to ensure that readers are kept well-informed on the current and future direction of the Company.

Following the release of our Q4 2020 audited results which are due to be filed on or before April 30, 2021, I also expect to take part in some exciting media relations opportunities such as a podcast, video interviews and social media initiatives. Through these supplemental communications channels, we will not only provide further insights into the Company’s financial outlook, but also look ahead to 2022 and beyond. It is, indeed, a busy time for us!

I’ve said it many times, and I will continue to say it – I am exceedingly proud of our team and their drive to build something awesome. I am grateful to each and every shareholder who has believed in us and continues to go on this journey with us.  I am optimistic about our future and look forward to what every day holds for each of us. We have made tremendous strides to become One Company, led by One Team, moving in One Direction.

As COVID-19 continues across the globe, I hope that each and every one of you and your families stay safe, healthy and connected to your loved ones and communities in whatever way you can during these difficult times.

Sincerely,
Buck 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: IR@MRSCorp.com

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

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

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.

In this time of giving thanks, I reflect on the great progress we continue to make as a Company and as a team.  November has been a very exciting month, marked by positive change and forward progress.  In addition to a few thoughts that I am excited to share with you in this newsletter, we’ll hear from a couple other members of our leadership team who will highlight some of the noteworthy events and achievements that have taken place in the past few weeks.

Following the successful completion our first “Virtual” Annual Shareholders Meeting held earlier this month, we provided a brief update through which we endeavored to convey our vision for the direction of the Company and our appreciation to you – our shareholders – for your enduring support.

As announced November 12, 2020, it’s a tremendous honor to welcome Commissioner William Bratton as a Director of Mission Ready, and to have the privilege of serving alongside him as a fellow board member. Commissioner Bratton brings a wealth of knowledge, leadership and governance experience to the Company’s already robust Board of Directors. If you have not yet had the chance to do so, I would encourage you to review the brief summary of Commissioner Bratton’s impressive background and expertise included in our November 12, 2020 news release, available at the following link:  News Release | Appointment of William Bratton to Mission Ready’s Board of Directors.

In keeping with our commitment to build sustainable shareholder value, we continue to explore ways in which we can increase market awareness and broaden our reach throughout the investment community. As a key element of an ambitious investor outreach program that we envision implementing throughout 2021, we intend to initiate the process to obtain a secondary listing (dual listing) for our shares on the OTCQB, a US-based trading platform operated by the OTC Markets Group in New York, USA.

To be considered for a listing on the OTCQB, companies are vetted to ensure high standards with respect to financial reporting and general disclosure practices among other criteria and, as defined by the OTC Markets Group Inc., all companies are required to appoint a qualified, third-party investment bank or attorney as a Principal American Liaison (PAL) sponsor to help with the admission process, post disclosure in English, and act as a trusted resource for all their investor information needs and U.S. market protocols.

“An OTCQB listing will serve to provide current and prospective U.S. investors with streamlined access to the Company’s stock and public market data, while offering greater liquidity for Canadian and US investors, alike,” states Terry Nixon, Chief Compliance Officer and a Director of Mission Ready Solutions Inc. Mr. Nixon continues, “We are excited to further expand our reach in the marketplace and become more accessible to the extensive network of investors within the United States and internationally.”

Further to our October 8, 2020 news release reporting that we had received aggregate purchase orders totaling ~C$112 million pursuant to the isolation gown contracts awarded by the United States Defense Logistics Agency Troop Support Clothing & Textiles (“DLA C&T”) supply chain, Unifire personnel have been busy fulfilling orders according to the specified delivery schedules.  Skip Church, President of Unifire, states, “We are grateful for the many channels through which we are able to contribute meaningfully to the pandemic response efforts, having shipped approximately 4.7 million isolation gowns across the DLA C&T contracts since September 2020As a result of the recent contract awards, we have had the opportunity to further bolster our relationship with those who serve within DLA, and to forge a respectable reputation as a leading provider of critical pandemic relief solutions.”

Since my first introduction to Unifire approximately 8 years ago, I’ve been privy to the many facets of Unifire including its rapidly expanding government contracting business, and its foundational focus on solutions for Fire and Emergency Services.  When I came onboard, part of my vision was to revitalize the core Unifire business – not as a replacement or a distraction from the lucrative world of government contracting, but as a complementary product offering. Though we remain laser focused on expanding the many opportunities we see across several procurement and supply contracts, as we grow and add to our team, we expect to uncover additional, accretive revenues streams to be captured though our core manufacturing division.

In just a few short weeks, we have made great strides in rebuilding our core product line and distribution network throughout China, India and the Philippines. Unifire’s Chief Operating Officer, Dan Raczykowski, states, “Over the next few months, we will be revamping our dealer network and introducing several new products to our lineup. Looking ahead, we envision leveraging our current domestic and international partnerships to accelerate the expansion our core-product distribution network throughout the world.”

Mission Ready trades on the TSX Venture Exchange under the symbol MRS.

For further information, visit MRSCorp.com or contact:

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

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President & CEO
Ph: +1 877.479.7778

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.

Dear Fellow Shareholders,

As I reflect on my first two weeks as CEO and President of Mission Ready Solutions, I thought it important to address our shareholders in a more casual format than that of a formal news release.  My intent, when relevant and necessary, is to communicate with our shareholders on a more frequent cadence, independent of the Company’s ongoing disclosure obligations.

Though I must still adhere to the applicable rules and regulations, my hope is to share my excitement for Mission Ready Solutions, our employees, and our investors. During my first week, I traveled to meet, in person, almost all of our employees.  Through these face to face conversations, I have gained valuable insights into the daily challenges they face and the dedication they have for the company.  This dedication is exciting to me as I know our future success will depend on the will of our employees to accomplish the tasks ahead.

Further to the numerous sizeable contracts – and follow-on purchase orders – that we’ve recently announced, I would like to add that Protecting Those Who Protect Us is more than merely a slogan, it is a guiding principle.  Our Mission Statement is to produce and provide military, fire, rescue and law enforcement with the products and knowledge required to fulfill their unique duties. We accomplish this mission by delivering outstanding products, extensive customer service, continuous education and advanced problem solving to our customers.

Additionally, I think it is important to discuss the current projects we are undertaking as a team.  This includes a core system upgrade which will allow our team to work more efficiently and will eliminate barriers so that each member is unencumbered and empowered to excel in their respective roles. This software will unite our sales team, our financial team and our leadership team in real time.  This will be invaluable for us as we make critical decisions on an array of fluid issues.

Lastly, I want to thank our employees and investors for your continued support, unwavering dedication and steadfast resolve to push forward during times of both turbulence and celebration. I am confident in my ability to apply structure to our financial position which will equip us to capture revenue opportunities with laser focus. We are building the framework to be competitive on any contract or opportunity going forward. We have turned the corner and the future is bright!

Sincerely,

Buck Marshall
President & CEO