The merger, the cover...
the pending merge is going to be neutral for shareholders. The merger is detracting fir tge negative story here Mission Ready distribution deal delivery bleak in 2018 2018-08-02 16:28 ET - News Release Mr. Jeffery Schwartz reports MISSION READY ANNOUNCES UPDATE ON THE PREVIOUSLY ANNOUNCED FOREIGN MILITARY DISTRIBUTION AGREEMENT Mission Ready Solutions Inc. has provided an update on the foreign military distribution agreement first announced on Sept. 6, 2017, with subsequent related announcements provided on Sept. 20, 2017, Nov. 30, 2017, and Dec. 29, 2017. Upon entering into the distribution agreement in September, 2017, the company was initially optimistic that purchase orders would begin to be submitted quickly, but, for a variety of reasons, including the comprehensive due diligence and administrative prerequisites, the company has neither received a purchase order, nor started to deliver its Flex9 Armor or No-Contact products pursuant to the distribution agreement. "We certainly acknowledge the length of time that has elapsed since our initial announcement, but we are confident that the continuing dedicated efforts of our team will be well rewarded through the delivery of purchase orders and the creation of significant shareholder value," stated Jeffery Schwartz, president and chief executive officer of Mission Ready. As stated in its Dec. 29, 2017, news release, the company anticipates the receipt of purchase orders to begin in the current calendar year, but acknowledges that it is unable to determine when delivery of such purchase orders will commence. Pursuant to the distribution agreement, purchase orders totalling a minimum of $50-million (U.S.) are required by the end of 2018 for the distributor to maintain its exclusivity. The company was hopeful that production would have been under way to meet the $50-million (U.S.) target; however, at this point, the company acknowledges that it is logistically unlikely that delivery of these volumes will occur prior to Dec. 31, 2018. In the event that the minimum purchase volumes for exclusivity for 2018, pursuant to the distribution agreement, are not met by the distributor, Mission Ready is considering exploring potential options and remedies to maximize the return for all parties involved. Mr. Schwartz continued, "With the recent fundamental additions to our executive team and board of directors, we have significantly broadened our global connections within the defence industry, and also strengthened our access to key resources." About Mission Ready Solutions Inc. Headquartered in Vancouver, B.C., Canada, Mission Ready innovates and manufactures leading tech-centric defence and tactical solutions to prevent injuries and enhance the performance of military personnel, first responders and all those who protect by equipping them with the next generation of personal protective technologies. Mission Ready is committed to becoming a global leader in personal protective technologies through the strategic growth of its three synergistic business segments: innovations and development, prototyping and manufacturing, and product sales. We seek Safe Harbor. 2018 Canjex Publishing Ltd. All rights reserved.