VANCOUVER, BC, Aug. 31,
2021 /CNW/ - Mission Ready Solutions Inc.
("Mission Ready" or the "Company") (TSX-V: MRS)
(OTCQX: MSNVF), a provider of comprehensive government contracting
solutions, recently released its second quarter 2021 ("Q2 2021")
financial statements for the three and six months ended
June 30, 2021.
The following are highlights of the six months ended
June 30, 2021 (all dollar figures are
quoted in Canadian dollars unless otherwise noted):
- Gross Revenues of $78.73
million (an increase of $36.43
million from the same period in 2020)
- Gross margin of 7.98%
- Decrease in Operating Expenses of 5% (as compared to 13%
from the same period in 2020)
- Net Income of $2.87
million (an increase of $4.52
million from a net loss in the same period in 2020)
- Adjusted EBITDA was $4.97
million (an increase of $4.15
million from the same period in 2020)
- $7.1 million Working Capital
improvement from year-end
- Cash and Cash Equivalents of $4.4
million
"Q2 financials have once again showcased our ability to
improve our ratios, decrease expenses and bring in additional
revenues that ultimately resulted in better cash on hand and
overall financial strength," said Buck
Marshall, President and CEO of Mission Ready. "Mission
Ready's revenue streams such as GSA schedules, innovation,
manufacturing and distribution capabilities continue to bring
consistent revenues that form the core of our business."
A copy of the unaudited condensed consolidated interim
financial statements for the six months ended June 30, 2021, and the associated Management's
Discussion and Analysis ("MD&A") are available on
www.sedar.com under the Company's
profile and on Mission Ready's
website .
Marshall also provided a live corporate update to
investors and shareholders, highlighting the milestones achieved
and offered his overview of upcoming catalysts.
"Part of the expansion of our revenue streams lies in
leveraging and maximizing our resources as best we can, our cut and
sew capabilities being a prime example that opens OEM manufacturing
opportunities," said Marshall. "We are shifting from being a
company reacting to opportunities to being proactive and creating
opportunities as we continue looking for force
multipliers."
The presentation is available on Mission
Ready's YouTube channel and the Company's website
at MRSCorp.com .
About Mission Ready Solutions Inc.
Mission Ready specializes in providing
comprehensive government contracting solutions through its
privileged access to a host of federal contracting vehicles,
including Multiple Award Schedule ("MAS") contracts
awarded and administered by the United States General Services
Administration ("GSA").
Mission Ready's wholly-owned subsidiary, Unifire, Inc.
("Unifire"), is a designated Small Business and an
industry-leading manufacturer and distributor of over 1.5 million
military, fire and first-responder products. With extensive
knowledge and experience in providing turnkey solutions to the
United States Federal Government, Unifire utilizes its time-proven
industry relationships and proprietary technology infrastructure to
efficiently source and deliver critical, life-saving products in
cooperation with government program managers, military and federal
contracting offices, base supply centers, and other federal, state
and local supply agencies.
Mission Ready Solutions Inc.
(Signed "Buck L. Marshall")
Buck L. Marshall
President, CEO and Director
T: +1 (877) 479.7778
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Information
This news release 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.
SOURCE Mission Ready Solutions Inc.
