Milestone Highlights Recent Milestone Highlights March 9 Mission Ready Closes Wild Things Acquisition All conditions precedent to the Asset Purchase Agreement related to the acquisition of Wild Things, LLC, first announced September 1, 2016, have been satisfied and Mission Ready has closed the
acquisition of the business and certain assets of Wild Things, LLC The close of the Transaction follows the approval from
Crestmark Bank ("Crestmark") to extend a USD $2.5MM credit facility to Wild Things USA Inc., a wholly-owned subsidiary of the Company.
About Wild Things, LLC Founded in 1981, Wild Things, LLC has earned a reputation for sophisticated, tough, lightweight technical outerwear, alpine-style backpacks, haul-bags, and innovative tactical clothing. Wild Things occupies a unique position in the marketplace with a 35-year heritage of pioneering product design for the specialized needs of the alpine mountaineering and military communities. Chosen for the world's most demanding conditions by the world's most demanding users, Wild Things, LLC manufactures its products in the USA under two divisions -- Wild Things for the outdoor enthusiast and Wild Things Tactical for the unique needs of the military and law enforcement communities. In addition to the design studio and executive offices located in Middletown, Rhode Island, Wild Things operates a factory and second design studio in Gorham, New Hampshire. For more information, visit:
https://wildthingsgear.com/ March 2 Mission Ready Continues Reorganization Jeff Schwartz will become the Chief Executive Officer of the Company.
This step completes the Company's planned reorganization to focus on manufacturing its Protect The Force line of personal protective products and Wild Things cold weather gear.Mr. Schwartz has an extensive background in all aspects of executive management and has served in director level positions for both privately held and publicly traded companies, most recently as President of LC Industries, a $380MM manufacturing and distribution business that grew from $50MM during his 12-year tenure. With a strong focus on new business development and team building, Mr. Schwartz has developed several companies within the tactical armor industry and has a history of achievements in elevating similar-stage companies to great success in the defense industry.
Feb 17 Mission Ready Closes Private Placement Financing Closed pp offering for a total of 4,660,000 Units raising gross proceeds of CDN
$466,000 The Company has opted not to accept any subsequent subscriptions following the first tranche close while the Company is in
negotiations for the services of a large independent cross-border Corporate Finance advisory firm. Feb 8 Mission Ready Announces upto %6MM Commitment for the Purchase of Concealed Carriers Following SHOT Show 2017 Up to USD $6MM commitment from White Horse R&D, Inc. ("White Horse") for B-Cool concealed carriers to be delivered over the next 36-months.
Manufactured in Jacksboro, Tennessee at Protect The Force Manufacturing, the Company's B-Cool concealed carrier ("B-Cool") was designed with law enforcement officers in mind. The B-Cool is a low visibility concealable carrier that offers wrap around protection on the sides. This lightweight carrier is the ultimate in concealed comfort and protection using a state-of-the-art ergonomic design that offers its wearer optimum comfort for extended time periods. Additional information on the B-Cool product can be found at
ProtectTheForce.com.The Company will provide
8,000 to 10,000 B-Cool concealed carriers per year to White Horse to be deployed for protection of those in the security industry.
Flex9Armor™ Featured on Cover of Officers Only Catalog Flex9Armor -- a revolutionary protective product developed and manufactured by Protect The Force ("PTF") -- has been selected as the featured product on
the front cover of the 2017 Officers Only Catalog. Officers Only is a division of Bob Barker Company, Inc., the leading provider of high-quality supplies and services for the corrections industry since 1972.
SHOT Show 2017 In addition to the high volume of product demonstrations conducted by request to enthusiastic professional users and purchasers at PTF's SHOT Show 2017 booth, Protect The Force is pleased to report that it added an
additional 27 new dealers to its distribution network bringing the aggregate total to 87. The vetting and training of these new dealers is in process. PTF management also met with a number of emerging technology innovators who are exploring the integration of their technologies into PTF product lines.
PTF Secures Advanced Functional Fabrics of America ("AFFOA") Membership Protect The Force has executed a membership agreement with AFFOA to further broaden its reach and influence in the Advanced Textiles Industry. PTF will immediately begin to leverage the benefits associated with its AFFOA membership including privileged access to the AFFOA Roadmap and new technology developments, gaining access to the AFFOA member databases, and engaging in business development opportunities within the AFFOA ecosystem.
Jan 17. Mission Ready’s Protect the Force strengthens branding in preparation for 2017 manufacturing & sales initiatives MRS enhanced the Protect The Force brand and product line through a refined vision, clearly defined mission statement, industry-leading innovations, and a reputation for excellence in the field of personal protection. The PTF brand has
become synonymous with cutting-edge performance, enduring quality and enhanced soldier protection, with the recent PTF brand improvements complementing the brand value, not replacing it.
PTF's fresh look and comprehensive catalogue of products were showcased at SHOT (Shooting, Hunting and Outdoor Trade) Show 2017 in Las Vegas, Nevada (booth #32106) to an estimated 60,000+ vetted professional attendees.
The Company -- not new but better -- is being led by our internal team of proven industry veterans in product innovations, personal protection, advanced textiles, sales and marketing. Protect The Force is launching its
ambitious vision for 2017 with a single-minded purpose centered around the Company's dictum,
Protection is in our DNA™.
Jan 16.
Protect The Force wins DoD “Game Changer” Award for No-Contact Technology
US Army Department of Defense Proof Challenge 'Game Changer' award for the integration of its
proprietary No-Contact technology into BioChemical Warfighter Protection suits.
Protect The Force's winning submission incorporates its proprietary No-Contact technology into a matrix of pulse electric conductive textiles and wearable components that can be modulated at different energy levels. PTF's proposal is based on the concept of on-demand activation and deactivation of the No-Contact system, killing chemical and biological agents by means of modulated electricity discharges. "We are essentially introducing a
wearable protective force field into the BioChemical Warfighter Protection industry," states Francisco Martinez, Chief Technology Officer of Protect The Force.
"Winning this award is a tremendous honor and an accomplishment that we are very proud of considering that all proposals were reviewed by the Department of Defense Subject Matter Experts (SME) -- highly respected scientists and experts in the field of chemical and biological protection -- and ours selected for the Game Changer technology award. We look forward to working with the Joint Program Executive Office for Chemical and Biological Defense."
Dec 22.
Draw-down equity facility of up to CDN
$10,000,000 with Alumina Partners LLC.
Dec 13.
Initial order of its
No-Contact Riot Shield Covers (PTF) for use in a military application marks an official commercial launch of this now market-ready product. No-Contact technology is uniquely engineered into a textile composite that can be applied into any type of shield cover, including riot control and correctional facilities types
as well as other form factors. Nov 29,.
2016 Q3 Financials. The lower gross revenues of the Company's Cleaning and Remediation division was partially offset by
increased revenues of the Research Development & Manufacturer Representation divisions and the
start of revenues generated by the Manufacturing division.
Flex9Armor™ Manufacturing Begins A key focus of the Company is on its proprietary Flex9Armor™ base layer shirt for law enforcement agencies and foreign militaries. The Company recently completed its first shipment of shirts to a US County SWAT team. Additional Flex9Armor™ shipments are currently being prepared for a foreign military order while evaluations are underway by a
number of European NATO nations. Acquisition of NIJ Ballistic Certifications With the acquisition of certain manufacturing assets, trademark, customer list and 23 certifications of models that Comply with the U.S. Department of Justice, National Institute of Justice ("NIJ") standard-0101.06 for ballistic-resistance of body armor of ForceOne, LLC, the Flex9Armor™ and other PTF ballistic products are now being manufactured at the Company's recently launched manufacturing facility based in Campbell County, Tennessee -- a designated HUBZone (Historically Underutilized Business Zone).
Winner of TEEX Award The Company recently won an award through the US DoD's Defense to Response (D2R) Technology Program for the provision of USD $110,000 in services from Texas A&M Engineering Extension Service's Product Development Center (TEEX PDC) to
commercialize PTF's Flex9Armor™ to enhance public safety and homeland security.
Nov 23.
Initial order and shipment of its Flex9Armor™ Tactical Police Shirt to a US County Sheriff Department SWAT unit. Developed and fulfilled through the Company's wholly-owned subsidiary, Protect The Force Inc. ("PTF"), additional Flex9Armor™
shipments are currently being prepared for a foreign military order while evaluations are underway by a
number of European NATO nations. Flex9Armor™ incorporates a network of NIJ Level II and IIIA body armor panels into a breathable anti-microbial material that is
30% lighter than conventional armor. Integrating all of these features into one combined garment makes Flex9Armor™ a superior option for first responders that is available in standard and fire retardant configurations. Additionally, PTF this week released a variant of the Flex9Armor™, the
Flex9Spike™, designed for use by Federal, State and Local correctional facilities.
Protect The Force is
currently working with over 70 US federal, state and local law enforcement agencies at various stages of the evaluation and purchasing process.
In anticipation of a significant demand for the Flex9Armor™, PTF has streamlined its processes through a state-of-the-art online order fulfillment platform and recently launched a manufacturing division based in Jacksboro, Tennessee in order to efficiently and effectively meet client requests.
Nov 22.
Successful completion of the
Marines Next Generation Body Armor development project (the "Project") for the United States Marine Corps ("USMC"). Following a contract award by the Marine Corps Systems Command ("MARSYSCOM"), the Project was completed on schedule and under budget.
The BBL is a revolutionary armored shirt worn under the Marines Body Armor Vest that integrates modular deltoid, yoke and collar protection into an athletic flame resistant combat shirt. Newly developed breathable fragment protective knits were integrated into the sleeves and lower torso for additional protection against fragments resulting from Improvised Explosive Device (IED) detonations.
The Ballistic Base Layer ("BBL"),
is now being readied for field deployment in keeping with the RIF objective to accelerate fielding of innovative technologies into military systems.
Nov 3.
Reorganization of its subsidiary Protect The Force Inc. to establish an
independent sales group that will work closely with ADS, Inc. to promote, among other products, the Protect The Force Flex9 law enforcement ballistic shirt and other tactical gear.
Oct 25
Acquisition of certain manufacturing assets, trademark, customer list and 23 certifications of models that Comply with the U.S. Department of Justice, National Institute of Justice ("NIJ") standard-0101.06 for ballistic-resistance of body armor of ForceOne, LLC ("ForceOne").
"The strategic acquisition of the ForceOne assets will complement and greatly enhance PTFM's portfolio of tactical solutions at this pivotal and exciting time for the company," states Rod Reum, President and CEO of Mission Ready. "The highly regarded NIJ Certifications will be invaluable to the Company in further validating our products and our dedication to the highest quality standards in personal protective equipment and the added equipment rounds out that which is already in place giving us a state of the art facility that will lower our overall cost of production."
Sept 1
Letter of Intent ("LOI") on August 30, 2016 to
acquire Wild Things, LLC ("Wild Things)") for USD $4.5MM. Founded in 1981, Wild Things is a
leading manufacturer of technical outerwear and gear with products currently in the field with every branch of the US Armed Forces.
Aug 25
The
launch of its new, state-of-the-art e-Commerce website offering online product sales of PTF Manufacturing Inc.'s ("PTF Manufacturing" or "PTFM") extensive catalogue of protective tactical equipment including the Flex9Armor Tactical Police Shirt
Market Outlook The Global Body Armor and Personal Protection Market, valued at US$1.9 billion in 2016, is projected to grow at a CAGR of 4.61% over 2016-2026, to reach US$2.9 billion by 2026.
The market is expected to be dominated by the Soft Armor segment, which is expected to account for 36.9% of the market, followed by Hard Armor and Protective Headgear with shares of 22.7% and 18.6%, respectively. The North American region is forecast to dominate the sector with a share of 24.3%, followed by Europe and Asia-Pacific with shares of 23.2% and 22.9%, respectively.
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