Mission Ready Reports Q1 2022 Financial Results
CEO to Host Live Event with Q&A on Thursday, June 2, 2022
VANCOUVER, BC, May 31, 2022 /CNW/ - Mission Ready Solutions Inc ("Mission Ready" or the "Company") (TSXV: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its first quarter 2022 ("Q1 2022") financial results for the three months ended March 31, 2022.
The following are highlights for Q1 2022 (all dollar figures are quoted in Canadian currency unless otherwise specified):
- Gross revenues of $1.07 million
- Gross margin of 49% for the period
- 68% decrease in liabilities from the same period in 2021
- Net income of $0.28 million
- Adjusted EBITDA was $0.95 million
- $2.59 million working capital (a decrease mainly due to cash payments related to the debt settlement agreement with Product Sources Group, LLC and JD. United Manufacturing Co. Ltd)
A copy of the unaudited condensed consolidated interim financial statements for Q1 2022 and the associated Management's Discussion and Analysis ("MD&A") are available on SEDAR.com under the Company's profile.
Buck Marshall, President and CEO of Mission Ready, will host a live Q&A period on Thursday, June 2, 2022, at 11:00 AM ET (8:00 AM PT), where management from Mission Ready will be available to answer questions. Questions can also be submitted prior to the event at [email protected].
To register for the event, please visit:
https://us06web.zoom.us/webinar/register/6116539626844/WN_N2YYQN1eR4mSRNJnuqQoDQ
Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.
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, Mission Ready's wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.
For further information on Mission Ready Solutions Inc., please visit MRSCorp.com.
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Mission Ready Solutions Inc.
(Signed "Buck L. Marshall")
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.
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.
Mission Ready Solutions Inc.: Buck L. Marshall, President, CEO and Director, T: +1 877.479.7778; Investor Relations Contact: Dominic Gray, [email protected], T: +1 877.479.7778 (Ext.5)
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