- Defense technology company Mission Ready Solutions (MRS) has received additional purchase orders worth approximately C$16 million
- These latest purchase orders follow on the heels of numerous separate contract awards which the company announced last month
- In other news, Mission Ready is continuing to fight a decision made by the US Defense Logistics Agency in 2019
- The company’s subsidiary, Unifire, is in the midst of appealing the decision relating to its pre-award protest
- Mission Ready Solutions (MRS) is up 2.5 per cent and is currently trading at $0.20 per share
Defense technology company Mission Ready Solutions (MRS) has received additional purchase orders worth approximately C$16 million.
The purchase orders form part of the larger C&T contracts which the company has previously been awarded. Last month, Mission Ready made numerous announcements about awards relating to these contracts.
The first announcement, on September 18, reported new contract awards worth an estimated $127 million, with a potential ceiling of $435 million. Mission Ready’s share price skyrocketed by as much as 152 per cent after the news of the multiple government contracts hit the market.
Another announcement, roughly a week later, reported that the company had received purchase orders worth an aggregate $96 million.
All purchase orders which Mission Ready has received to date across the C&T contracts will be delivered between October 2020 and March 2021.
In other news, Mission Ready Solutions has provided an update on its protest against a decision by the US Defense Logistics Agency (DLA). In December 2019, the DLA chose to exclude the proposal of Mission Ready’s subsidiary, Unifire, from competition.
The competition was related to the Special Operational Equipment Tailored Logistics Support (SOE TLS) Program contract. Despite the US Court of Federal Claims (COFC) denying Unifire’s challenge to the exclusion, Unifire has filed a Notice of Appeal and Pre-Award Protest of this judgement.
Mission Ready’s recently appointed President and CEO, Buck Marshall, commented on the company’s stance on the matter.
“We recognise and appreciate the value of our incumbency as a prime vendor on the SOE TLS contract – and will certainly take all proper steps to continue in this capacity – however, it is important to note that over 90 per cent of Unifire’s sales captured during 2020 have been entirely outside of the SOE TLS contract vehicle.
“We remain optimistic that we will have the opportunity to continue performing on the SOE TLS contract for the foreseeable future,” he said.
Mission Ready Solutions (MRS) is up 2.5 per cent and is trading at $0.20 per share at 12:17pm EDT.