(Image via Mission Ready Solutions Inc.)
Responding to the COVID crisis through a major FEMA contract, the project aims to deploy product delivery and logistics through a clear line direct from manufacturer to end consumer.
On March 13th, 2020, the COVID-19 coronavirus outbreak was declared a national emergency via Presidential Proclamation
and its spread has evolved at such a pace, it spawned the urgent need to procure personal protective equipment to support the containment and response to the outbreak.
This need for personal protective equipment is likely to continue and will evolve as the nature of the virus continues to spread and change.
The US Department of Homeland Security’s Federal Emergency Management Agency (FEMA) is looking to secure supplies anywhere it can that can support COVID-19 Personal Protective Equipment and Medical Supplies.
Enter:
Mission Ready Solutions Inc. (TSX-V: MRS, OTC: MSNVF, Forum) – A leading provider of services and products for the defence, security and protective agencies.
By mid-May 2020, MRS announced that it had received a substantial contract from FEMA worth $24 million (CAD) for the provision of personal protective equipment. The contract also includes an option for an additional $12 million, for an aggregate potential contract value of up to $36 million. When news of this contract was released, MRS stock saw an increase in its share price and has continued trading at this elevated level ever since.
The Company’s wholly owned subsidiary,
Unifire, Inc., will take the lead on this project.
A small business, Unifire is one of six global companies that is authorized to provide equipment and designated services under the United States Defense Logistics Agency Special Operational Equipment Tailored Logistics Support program.
Taking this as a meaningful opportunity to contribute in the fight against the COVID-19 coronavirus pandemic, Mission Ready President and CEO Jeffery Schwartz
stated in the news release for investors that by utilizing Unifire’s wide network of product manufacturers and distributors built over the past three decades, it can respond quickly and competitively to the increasing volume of government and industry requests for personal protective equipment.
“As we work to become increasingly nimble and grow the bottom line, we will remain focused on accretive opportunities that allow the Company to retain profits to be reinvested and leveraged for further growth. Being a delivery order, the Company will not require any additional facility space, equipment or personnel to facilitate the FEMA Contract Award. Additionally, as is the generally the case with the bulk of Unifire’s business, this Contract Award followed our response to a federal solicitation for specific products that had been vetted and pre-cleared by the US government – meeting or exceeding safety and efficacy standards established and mandated by the Food and Drug Administration – for use by those fighting for us on the front lines.”
Despite media headlines declaring businesses’ plans to reopen and reawaken the economy in the near-term, the need for this equipment is still extremely dire in the United States. As of this writing, there had been 1.5 million confirmed cases of COVID-19 in the country, but through the efforts of operations such as this, nearly 290,000 people have recovered.
Investors should keep an eye on Mission Ready Solutions Inc. as it continues to utilize commercially-competitive-rate financing provided by its existing capital partners to facilitate the delivery of the products to FEMA.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.