MSNVF - Mission Ready Services Inc
OTC Market: OTCQX International
Mission Ready Solutions Inc. (OTC: MSNVF, TSXV: MRS) is a Canada-based military service company that engages in the provision of personal protective solutions to the global defense, security, and first-responder markets in Canada and the United States. The company conducts business in two segments, Consulting and Manufacturer Representation; and Inspection, Cleaning, and Repair Services. It produces and distributes protective services gear as well as emergency, fire, military, and law enforcement products. The firm offers its services to various high-value institutions including law enforcement, the military, the government, private security companies, and other agencies. The company boasts a significant number of historical partnerships with numerous government agencies and development labs working to develop new and improved sales opportunities. Mission Ready was founded in June 2009 by Terry Nixon as Mission Ready Services Inc. Its name was changed to Mission Ready Solutions, Inc. in June 2018. The company is headquartered in Vancouver, Canada. Its common shares are publicly traded on the TSX Venture Exchange, Canadian Securities Exchange, and OTC markets. It is traded on OTC markets under the MSNVF ticker symbol.
Mission Ready provides its robust pipeline of services through a network of potent activities which include research, innovation, manufacture, and distribution of the underlying products. The company operates via its fully-owned subsidiaries; Unifire, Inc. (Unifire), Mission Ready Holdings Ltd., Protect The Force Inc., and No Contact, LLC. Besides manufacturing and supplying technology-centric defense solutions, the firm provides management, product development, acquisition and contracting expertise, and sales and marketing support to other manufacturers who sell to the United States Federal Government.
Unifire is a small business, Department of Defense Prime Vendor, and holder of the Defense Logistics Agency (DLA) Clothing and Textile Contract and, numerous GSA schedules, blanket purchase agreements, and contracts with a substantial number of other organizations and governmental departments. It is an established manufacturer and distributor of over 1.5 million fire, military, emergency, law enforcement, outdoor, tools, hardware, and tactical items. It also provides specialized training sessions to select responder groups and law enforcement agencies.
Advanced Tech Rescue
The company created Advanced Tech Rescue as the explicit reseller of products whose performances have thoroughly been tested in real-life training events. Its birth resulted from failures witnessed in products in the middle of mission-critical operations. Unifire and Spec Rescue International, its partner, trained several teams for FEMA and the Military for real-life missions.
Protect The Force (PTF)
PTF primarily focuses on producing quality products such as ballistic soft armor and armor carriers for the company’s clients. It uses its premier manufacturing expertise, new product development, and sales capabilities to produce superior products and maintain strong relationships with the global market. The PTF Innovations division develops, enhances, tests, and pioneers new and advanced technologies relating to defense and personal protection.
Mission Ready was incorporated in 2009 in Vancouver, Canada. It specialized in the cleaning and decontamination of personal protective equipment and the manufacture of quality defense tactical solutions. The company acquired PTF in 2012, a move that led to its expansion into production, acquisition and contracting expertise, sales, and marketing services to producers selling to the US Federal Government. The firm later acquired its government contracting division, Unifire, which was founded in 1987, to provide comprehensive Federal Government contracting solutions.
Company and Industry News
The company, on the backbone of the TSX Venture Exchange approval, announced that it intends to finalize a non‑brokered private placement offering of up to 18,750,000 units at $0.08 per Unit, for gross proceeds of up to $1,500,000. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant. A holder of a warrant will be entitled to purchase one additional share at $0.15 per share for three years from the date of closing. The offer does not have a minimum limit. The offer is anticipated to close on or before December 15, 2022. Proceeds from the planned offering will be used to fuel current operations and for corporate purposes.
The company’s innovation and manufacturing division, PTF, received a Research and Development contract for the development of an Updated Law Enforcement Duty Uniform from the Department of Homeland Security Science and Technology Directorate First Responder Group. PTF would thus develop and test the duty uniforms with increased protection features against a myriad of operational hazards including burn injuries, blood-borne pathogens, weapon attacks, and extreme weather for law enforcement officers.
Mission Ready provided its corporate update and second-quarter financial results for the period ending June 30, 2022, on August 29, 2022. The presentation highlights include:
- Gross revenues of $3 million
- $1 million working capital
- $2.2 million of cash and cash equivalents
- 13% decrease in operating expenses from the same period in 2021
Buck Marshall, Chief Executive Officer
- Over 16 years working in the commercial banking industry
- Has worked in tandem with U.S. Small Business Administration (SBA) lending groups for the past twelve years
- Presided over a significant restructuring and strategic turnaround within Northwest, while growing the team over a geographically dispersed region
- A member of the National Association of Government Guaranteed Lenders (NAGGL)
- Holds a communications degree from Eastern Washington University and multiple specialized banking-industry certifications including a Certified Lenders Diploma
Terry Nixon, Chief Compliance Officer
- He founded Mission Ready and served as its Director of Corporate Communications
- Appointed Chief Compliance Officer in July 2018
- Has a robust history of C-level executive leadership experience to the Company along with an intimate understanding of capital markets, regulatory compliance, corporate governance, and public-company administration
- Provided governance, compliance, and management services to public issuers as both an employee and consultant before Mission Ready
Dong Shim, Chief Financial Officer
- A member of the Chartered Professional Accountants of British Columbia and a Certified Public Accountant registered in the State of Illinois, United States
- Has served as an audit partner on several audit engagements with a mid-size firm located in Vancouver, auditing multiple publicly-traded companies in mining, oil and gas, pharmaceutical, and high-tech industries
- Assisted numerous start-up companies to achieve public listing on the TSX Venture Exchange, Canadian Securities Exchange, and the OTC Market
Mission ready has a few synchronized values and practices that help fuel its progress toward achieving its purpose of innovating, manufacturing, and supplying leading tech-centric defense and tactical solutions to prevent injuries and enhance the performance of military personnel. The company is committed to becoming the world leader in personnel protective technologies via its robust segments. The values and practices include:
- Accountability. The company, right from the executive to employees, holds higher standards and is dedicated to providing quality products and services.
- Credibility. The firm highly values ethics and integrity as the base of its market reputation.
- Excellence. The company strives to provide quality, reliability, and safety in its products and services.
- seekingalpha.com/symbol/MSNVF/Company Profile – Seeking Alpha.
- Mission Ready Solutions Inc. Company Details – CNBC News. Accessed on 11/17/2022.
- WHAT WE DO -Mission Ready Solutions Inc. – Mission Ready Website. Retrieved on 11/7/2022.
- About Mission Ready/ History – Mission Ready website.
- Mission Ready Announces Non-Brokered Private Placement Offering – Yahoo Finance.
- Mission Ready's Innovation Division Awarded US$1.4MM R&D Contract from DHS – Yahoo Finance. Retrieved on 11/18/2022.
- MISSION READY NEWSLETTER | AUGUST 2022 | SHAREHOLDER UPDATE & Q2 FINANCIAL RESULTS – Mission Ready News.
- https://mrscorp.com/about/leadership/ Mission Ready website. Retrieved on 11/18/2022.
- mrscorp.com/about/ - Company website.
More News: OTC Markets
As of 11/29/2022 there were 203,019,000 shares of MSNVF stock outstanding.
As of 10/31/2022 short interest was 3,996 shares, which represents 1 day to cover.
- - March 2, 2022: Company website
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