Quarterly Update and Appendix 4C
Sydney, Jan 31, 2018 AEST (ABN Newswire) - DroneShield Ltd (
ASX:DRO) (DRSHF:OTCMKTS) ("DroneShield" or the "Company") is pleased to provide the following update on its activities during the three-month period ended 31 December 2017 and its Appendix 4C quarterly cash flow report for the same period.
Key Developments
DroneShield made significant progress in the quarter to December 31, 2017. The key developments to the date of this report include the following.
Sales and Marketing
- With the large addressable market consisting of tens of thousands of potential end-users and hundreds of thousands of installations globally, DroneShield's in-house and distributor salesforce continued to progress numerous opportunities, including orders in advanced stages, including participating in a number of government procurement processes.
- The Company's short-term sales pipeline (see Note below) was summarised in the Investor Presentation released to the ASX on 9 October 2017. A copy of this information is below (see link below).
- The sales opportunities being progressed by the Company are not limited to those set out above, and the Company has added a number of additional substantial sales opportunities to its pipeline during, and after the end of, the quarter. The Company is working on dozens of advanced sales opportunities, ranging from low hundreds of thousands of dollars to tens of millions of dollars, each.
- On 17 November 2017, the Company announced that DroneGun won a tender by the Paraguay military. This paid order was for one test unit, and was placed by the end-user in order to evaluate the product for larger adoption.
- On 27 December 2017, the Company announced that DroneGun MKII product was certified as compliant for human exposure, in connection with requests by potential governmental end-users, in relation to their procurement processes. EMC Technologies, a specialist SAR (Specific Absorption Rate) measurement NATA (National Association of Testing Authorities) approved laboratory for global certifications, certified DroneShield's DroneGun MKII as compliant with the ARPANSA EN 62311 and EN 62209-1 (Australian and New Zealand Communications and Media Authority requirements for human exposure to radio frequencies) within the specific frequency bands of operation which cross references to the international ICNIRP standard. The certification was obtained in response to the DroneGun product advancing through procurement processes with a number of major defence and other government agencies internationally, for which this was a requirement requested by several agencies.
- Following the completion of the quarter, the Company announced its participation in the 2018 Urban 5th Generation Marine Exploration and Experimentation Exercise ("U5G 18"), organized by the United States Marine Corps Deputy Commandant for Combat Development & Integration ("CD&I") and the Deputy Assistant Secretary of the Navy for Research, Development, Test and Evaluation ("NR&DE"). The U5G 18 event focuses on evaluating new technologies by the United States US Marines, for subsequent acquisition and deployment considerations. The Company is one of a limited number of participants, selected from a large number of applicants to demonstrate its products and technology in these field trials, across a variety of real life counter-unmanned aircraft system simulations.
Corporate
- Following its appointment during the quarter, Mesirow Financial, a 600-person U.S. investment bank with a specialty in aerospace and defence, is continuing its active engagement with a number of parties to explore strategic options. This includes several large defence and security companies, with several parties having signed confidentiality agreements and proceeded into subsequent rounds of discussions.
Note: Except as stated elsewhere in this document, these sales opportunities have not resulted in sales, and necessarily not all (and there can be no assurance that any) of these sales opportunities will result in sales.
To view the full report, please visit:
http://abnnewswire.net/lnk/392345T4
About DroneShield Ltd
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) is an Australian publicly listed company with its head office in Sydney and teams in the US and UK. We specialise in RF sensing, Artificial Intelligence and Machine Learning, Sensor Fusion, Electronic Warfare, Rapid Prototyping and MIL-SPEC manufacturing.
Our capabilities are used to protect Military, Government, Law Enforcement, Critical Infrastructure, Commercial and VIPs throughout the world.
Through our team of primarily Australian based engineers - we offer customers bespoke solutions and off-the-shelf products designed to suit a variety of terrestrial, maritime or airborne platforms.
DroneShield is proudly exporting Australian capability to customers throughout the world and supporting Australia's defence, national security and other organisations protect people, critical infrastructure and vital assets.
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