Announcement • Feb 22
Mission Ready Solutions' Securities to be Delisted from NEX for Failure to Maintain Exchange Requirements, Effective February 24, 2025 Effective at the close of business on February 24, 2025, securities of Mission Ready Solutions Inc. (the ‘Company’) will be delisted from NEX, for failure to maintain Exchange Requirements. Prior to delisting, the shares of the Company were subject to suspension from trading. Announcement • May 17
Mission Ready Solutions Inc. Announces Board Changes Mission Ready Solutions Inc. announced 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. Reported Earnings • May 03
Full year 2022 earnings released: CA$0.11 loss per share (vs CA$0.004 loss in FY 2021) Full year 2022 results: CA$0.11 loss per share (further deteriorated from CA$0.004 loss in FY 2021). Revenue: CA$5.52m (down 94% from FY 2021). Net loss: CA$22.5m (loss widened CA$21.8m from FY 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jan 20
Mission Ready Solutions Inc. announced that it has received CAD 1.00248 million in funding On January 18, 2023, Mission Ready Solutions Inc. closed the transaction. The company issued 1,573,125 units at an issue price of CAD 0,08 for the gross proceeds of CAD 125,850 in the second and final tranche. Buck L. Marshall, the President, CEO and a director of the Company, purchased 1,532,625 Units in the transaction. The Company paid finder's fee of CAD 4,636.80 cash and 57,690 finder's warrants to Haywood Securities Inc. in connection with the closing of the final tranche of the transaction. The Finder's Warrants are non-transferable and exercisable at CAD 0.15 per Share until the Expiry Date. All securities issued in the transaction are subject to the Exchange hold period plus a hold period of four months and one day expiring on May 18, 2023. Reported Earnings • Dec 02
Third quarter 2022 earnings released: CA$0.01 loss per share (vs CA$0.007 loss in 3Q 2021) Third quarter 2022 results: CA$0.01 loss per share (further deteriorated from CA$0.007 loss in 3Q 2021). Revenue: CA$1.05m (down 83% from 3Q 2021). Net loss: CA$1.98m (loss widened 49% from 3Q 2021). Revenue is forecast to grow 96% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Aerospace & Defense industry in Canada. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Breakeven Date Change • Nov 16
Forecast to breakeven in 2022 The analyst covering Mission Ready Solutions expects the company to break even for the first time. New forecast suggests the company will make a profit of CA$1.41m in 2022. Earnings growth of 166% is required to achieve expected profit on schedule. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 8 new directors. 1 experienced director. 1 highly experienced director. 2 independent directors (4 non-independent directors). Independent Director Paul Litchfield is the most experienced director on the board, commencing their role in 2014. Independent Director Bill Bratton was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Nov 15
Mission Ready Solutions Inc. announced that it expects to receive CAD 1.5 million in funding Mission Ready Solutions Inc. announced a non brokered private placement offering of up to 18,750,000 units at a price of CAD 0.08 per unit, for gross proceeds of up to CAD 1,500,000 on November 14, 2022. Each unit will consist of one common share of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the company at a price of CAD 0.15 per share for a period of three years from the date of closing. The warrants and broker warrants are subject to an acceleration clause whereby in the event that the volume-weighted average price of the company's common shares listed on the TSX Venture Exchange equals or exceeds CAD 0.50 for a period of not less than 5 consecutive trading days, the expiry date of the
warrants will be accelerated to a date that is 30 calendar days after the first date such threshold is met. The offering is expected to close on or before December 15, 2022. The offering is not subject to a minimum amount and the maximum gross proceeds of the offering is CAD 1,500,000. All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. Finder's fees may be payable in cash and/or securities in connection with the offering, subject to approval of the TSX Venture Exchange. The offering may be closed in one or more tranches as subscriptions are received. Reported Earnings • Aug 27
Second quarter 2022 earnings released: CA$0.009 loss per share (vs CA$0.018 loss in 2Q 2021) Second quarter 2022 results: CA$0.009 loss per share (up from CA$0.018 loss in 2Q 2021). Revenue: CA$1.94m (down 84% from 2Q 2021). Net loss: CA$1.73m (loss narrowed 51% from 2Q 2021). Over the next year, revenue is forecast to grow 693%, compared to a 49% growth forecast for the Aerospace & Defense industry in Canada. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 05
Mission Ready Solutions Inc., Annual General Meeting, Oct 04, 2022 Mission Ready Solutions Inc., Annual General Meeting, Oct 04, 2022. Recent Insider Transactions • May 12
Chairman recently sold CA$67k worth of stock On the 6th of May, James Marks sold around 300k shares on-market at roughly CA$0.22 per share. This was the largest sale by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Reported Earnings • May 03
Full year 2021 earnings released: CA$0.004 loss per share (vs CA$0.007 loss in FY 2020) Full year 2021 results: CA$0.004 loss per share (up from CA$0.007 loss in FY 2020). Revenue: CA$92.0m (down 13% from FY 2020). Net loss: CA$743.7k (loss narrowed 45% from FY 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Independent Director Paul Litchfield is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: CA$0.007 loss per share (down from CA$0.004 loss in 3Q 2020). Revenue: CA$6.01m (down 70% from 3Q 2020). Net loss: CA$1.32m (loss widened 58% from 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Aug 28
Second quarter 2021 earnings released: CA$0.018 loss per share (vs CA$0.002 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: CA$12.0m (down 56% from 2Q 2020). Net loss: CA$3.55m (loss widened CA$3.20m from 2Q 2020). Reported Earnings • May 29
First quarter 2021 earnings released: EPS CA$0.033 (vs CA$0.007 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$66.7m (up 342% from 1Q 2020). Net income: CA$6.42m (up CA$7.71m from 1Q 2020). Profit margin: 9.6% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 04
Full year 2020 earnings released: CA$0.007 loss per share (vs CA$0.046 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: CA$105.1m (up 396% from FY 2019). Net loss: CA$1.34m (loss narrowed 82% from FY 2019). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 30
Chief Compliance Officer & Director recently bought CA$72k worth of stock On the 25th of March, Terrace Nixon bought around 150k shares on-market at roughly CA$0.48 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$76k. Insiders have collectively bought CA$112k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 27
Chief Compliance Officer & Director recently bought CA$72k worth of stock On the 25th of March, Terrace Nixon bought around 150k shares on-market at roughly CA$0.48 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$76k. Insiders have collectively bought CA$112k more in shares than they have sold in the last 12 months. Announcement • Mar 12
Mission Ready Solutions Inc. Receives an Aggregate of $112 Million in Purchase Orders Mission Ready Solutions Inc. provide an update further to the company’s October 8, 2020 news release announcing that it had received an aggregate of $112 million in purchase orders (each purchase order, a “Purchase Order”) to supply isolation gowns in connection with the company’s September 18, 2020 news release announcing that it had been awarded new contracts valued at an estimated $127 million, with a ceiling of $435 million (the “Contracts”). As part of the US Government’s COVID-19 pandemic response, the Contracts were awarded to the Company’s wholly-owned subsidiary, Unifire Inc. (“Unifire”) through the United States Defense Logistics Agency Troop Support (“DLA”) Clothing & Textiles (“C&T”) supply chain to facilitate the delivery of personal protective equipment to the United States Department of Health and Human Services for the Strategic National Stockpile. First announced in a news release dated February 2, 2021, the Company has engaged Tremont Strategies Group (“Tremont”) to help maximize the value of the Purchase Orders received across the Contracts during the term which spans from September 2020 through September 2021 (the “Term”). Tremont is a strategic, bipartisan government relations firm based in Boston, MA and Washington, DC. Tremont specializes in executing complex, multi-faceted campaigns by utilizing a comprehensive approach to engage stakeholders, policymakers and the general public in order to educate and advocate for its client’s position. With decades of experience in the public and private sectors, Tremont offers in-depth analysis’ on policy matters and proposals before state and federal government, and provides the expertise and entrepreneurial creativity needed to build successful comprehensive public affairs strategies. Throughout the COVID-19 pandemic, Mission Ready has worked with its extensive network of Berry Compliant (Made in America) product suppliers and their staff to quickly and efficiently deliver critical, life-preserving personal protective equipment to the US Government in support of their efforts to replenish the Strategic National Stockpile. Is New 90 Day High Low • Feb 10
New 90-day high: CA$0.44 The company is up 203% from its price of CA$0.14 on 11 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is up 21% over the same period. Announcement • Feb 04
Mission Ready Solutions Inc. Announces Resignation of Marcus Treiber as Chief Operating Officer Mission Ready Solutions Inc. announced the resignation of Marcus Treiber as the Company's Chief Operating Officer, effective immediately. Executive Departure • Feb 04
Chief Operating Officer has left the company On the 3rd of February, Marcus Treiber's tenure as Chief Operating Officer ended after 1.6 years in the role. We don't have any record of a personal shareholding under Marcus' name. A total of 3 executives have left over the last 12 months. Recent Insider Transactions • Jan 26
Chairman recently sold CA$90k worth of stock On the 20th of January, James Marks sold around 220k shares on-market at roughly CA$0.41 per share. This was the largest sale by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Jan 23
Chairman exercised options to buy CA$200k worth of stock. On the 20th of January, James Marks exercised options to buy 500.00k shares at a strike price of around CA$0.15, costing a total of CA$75k. This transaction amounted to 227% of their direct individual holding at the time of the trade. Since September 2020, James has owned 220.00k shares directly. Company insiders have collectively bought CA$105k more than they sold, via options and on-market transactions, in the last 12 months. Is New 90 Day High Low • Jan 16
New 90-day high: CA$0.24 The company is up 20% from its price of CA$0.20 on 16 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Aerospace & Defense industry, which is up 62% over the same period. Reported Earnings • Dec 02
Third quarter 2020 earnings released: CA$0.004 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: CA$20.1m (up 306% from 3Q 2019). Net loss: CA$837.0k (loss narrowed 75% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Nov 13
Mission Ready Solutions Inc. Appoints William J. Bratton to its Board of Directors Mission Ready Solutions Inc. announced the appointment of William J. Bratton to the Board of Directors of the company, effective immediately. During a 46-year career in law enforcement, Commissioner Bratton instituted progressive change while leading six police departments, including seven years as Chief of the Los Angeles Police Department and two nonconsecutive terms as the Police Commissioner of the City of New York. He is the only person ever to lead the police agencies of America's two large cities. Mr. Bratton also currently serves as the Chair for the Secretary of Homeland Security’s Advisory Council. Announcement • Nov 07
Mission Ready Solutions Inc. Announces Board Changes Mission Ready Solutions Inc. (Mission Ready or the Company) announced the appointment of Buck L. Marshall and Terrace L. Nixon – the Company’s President & CEO and Chief Compliance Officer, respectively – to the Board of Directors of the Company, effective immediately. Mr. Marshall and Mr. Nixon were appointed as directors of the Company at its 2020 Annual General and Special Meeting of Shareholders (the AGSM) held on November 4, 2020. Mark Bishop did not stand for re-election at the AGSM. The Company thanks Mr. Bishop for his past service as a director and wish him success in his future endeavors. Announcement • Oct 14
Mission Ready Solutions Inc. Announces Resignation of Schwartz from Board of Directors Mission Ready Solutions Inc. announced that Jeffery Schwartz has resigned as a director of the Company, effective immediately. Announcement • Oct 10
Mission Ready Solutions Inc. Announces $96 Million in New Purchase Orders Mission Ready Solutions Inc. announced that, further to its September 18, 2020 news release announcing new contract awards valued at an estimated $127 million, with a ceiling of $435 million, and its September 25, 2020 news release reporting that it had received an aggregate of approximately $96 million in purchase orders (each purchase order, a PO) across the C&T Contracts, the Company has received $16 million in additional PO’s bringing the total received as of the date of this announcement to approximately $112 million. All purchase orders received to date across the C&T Contracts call for delivery of the products between October 2020 and March 2021. In accordance with the terms of the C&T Contracts, the Defense Logistics Agency will remit payment to Unifire within 30 days of delivery of the products pursuant to each purchase order. Announcement • Oct 03
Mission Ready Solutions Inc. Announces Management Changes Mission Ready Solutions Inc. announced the discontinuation of John Stone's employment with Unifire Inc. Effective immediately, the Company welcome Alvin "Skip" Church as the new President of Unifire. Announcement • Sep 19
Mission Ready Solutions Inc. Wins New Contracts for an Estimated $127 Million with a Ceiling of $435 Million Mission Ready Solutions Inc. announced that, through its wholly-owned subsidiary, Unifire Inc., the company has been awarded a total of 7 government contracts – for personal protective equipment consisting of disposable level 2 and level 3 isolation gowns with an estimated value of $127,878,307 and a maximum value of $435,723,020 to be fulfilled over a 12-month period. As part of its COVID-19 pandemic response, the Contracts were awarded to the Company through the United States Defense Logistics Agency Troop Support Clothing & Textiles supply chain to facilitate the delivery of the Products to the United States Department of Health and Human Services for the Strategic National Stockpile. The Company will facilitate the fulfillment of delivery orders through its established network of Berry-compliant product manufacturers and vendor partners The Products will ship directly from the Suppliers to HHS. Prior to being awarded the C&T Contracts, the Company conducted extensive due diligence to source, vet and verify the proposed Suppliers and their respective products to ensure full compliance with the terms of the Contracts upon award. The company is confident in the ability of its Suppliers to fulfill the Contracts in accordance with the forecasted production requirements and anticipated delivery schedules. During the solicitation stage, the Company submitted proposals in response to individual government solicitations relative to each contract that it was awarded. Pursuant to the requirements of each Solicitation, the Company’s proposals included detailed information related to the Product specifications, Product availability, track-record of the Product manufacturers, delivery timeframes, among other criteria in support of the Company’s ability to meet the Solicitation requirements. Upon validation of the Company’s proposals by DLA C&T, on September 14, 2020, the Company was awarded the C&T Contracts. The company will commence fulfillment of the C&T Contracts immediately upon receipt of the initial purchase order(s) which, pursuant to the terms of the C&T Contracts, will be submitted to the Company on or before October 8, 2020. Is New 90 Day High Low • Sep 19
New 90-day high: CA$0.24 The company is up 92% from its price of CA$0.13 on 19 June 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is down 11% over the same period. Announcement • Jul 31
Mission Ready Solutions Inc. Announces Executive Changes, Effective August 7, 2020 Mission Ready Solutions Inc. announced that, effective August 7, 2020, James A. Marks will assume the role of interim Chief Executive Officer of the Company. To facilitate this change, Jeffery L. Schwartz has tendered his resignation as the Company’s President and CEO, effective August 7, 2020, but will remain a member of the Company’s board of directors. Mr. Schwartz has served as the Company’s President and CEO since March 2017, during which time he has led the Company to new heights and presided over impressive revenue growth, with 2019 revenues reaching CAD 21.19 million, a 588% increase over the previous year.