Quarterly Update and Appendix 4C
Sydney, April 24, 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 March 2018 and its Appendix 4C quarterly cash flow report for the same period.
Key Developments
DroneShield made significant progress in the quarter to 31 March 2018. The key developments to the date of this report include the following.
Sales, Marketing and Deployments
- DroneShield's in-house and distributor salesforce continued to progress a number of opportunities, including participating in a number of governmental procurement processes. Significant progress in particular is being made with NATO militaries, as evidenced by early March 2018 press reports of DroneGun Tactical being evaluated by the French military.
- During the quarter, DroneShield's products were utilised for the protection of the XXIII Olympic Winter Games in PyeongChang, South Korea.
- In late February 2018, the Queensland Police Service ("QPS") released a statement in relation to DroneShield providing multiple DroneGun units to QPS, for deployment during the XXI Commonwealth Games in Queensland in April 2018. The selection took place following an in-depth technical review by the Australian Defence Force, and the product was deployed at the Games successfully.
- In early February 2018, the Company received the US regulatory approval for a sale of a DroneGun MKII for use by the Paraguayan military.
- In mid February 2018, DroneGun MKII was assigned a NATO Stock Number (NSN) (5865-66-164- 5197). An NSN is a 13-digit numeric code, identifying all the "standardised material items of supply" as they have been recognised by all NATO countries including United States Department of Defense, and allows for any each of the 29 NATO militaries to purchase DroneGun MKII on a "military catalogue" basis, significantly simplifying the procurement process. The NSN was assigned following a request for such assignment from the United States Department of Defense.
- During the quarter, the Company participated in the 2018 Urban 5th Generation Marine Exploration and Experimentation Exercise ("U5G 18"), organised 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 has received positive feedback from the event, with a significantly higher awareness for its products with the US military following the trial.
- During the quarter, the Company participated in the SOFWERX ThunderDrone RPEII event. SOFWERX is a Tampa, Florida based experimental lab created under a Partnership Intermediary Agreement between Doolittle Institute and the United States Special Operations Command (USSOCOM). ThunderDrone RPEII is the SOFWERX exercise focused on counterdrone systems and designed to expose new and emerging counterdrone technologies to the Strategic Capabilities Office (SCO) and USSOCOM. DroneShield was one of a limited number of counter-drone providers invited to participate in the event.
- During the quarter, the United States Defense Logistics Agency, the logistics combat support agency of the United States Department of Defense, certified DroneShield's subsidiary DroneShield LLC under the United States / Canada Joint Certification Program DD2345 (militarily critical technical data agreement). With this certification, DroneShield LLC established eligibility to access unclassified export-controlled technical data of the U.S. Department of Defense (DOD) and Canada's Department of National Defence (DND). DroneShield LLC's certification under this program is part of its participation in the U.S. DOD and Canadian DND procurement processes.
- In early March 2018, the Company announced that ForcePro, one of the Company's European distributors, placed an order for the Company's DroneSentinel product, as well as two DroneGun units.
o The DroneSentinel version ordered by the distributor is in a "light" radar/radio frequency detection sensor configuration. The radar used in this version of the product is RadarZero, the portable and miniaturised radar rolled out by the Company earlier in the month. The size and price point position RadarZero well for the civilian markets, while its functionality and specifications also make it appropriate for the military customers
o The first order for the DroneSentinel product since its recent roll-out
o The first order for the Company's product incorporating RadarZero
o The order came within weeks of the Company having launched RadarZero
o The purchase of the DroneGuns is subject to approval by local authorities
o The products purchased by ForcePro will be used to set up a DroneShield demonstration hub in the Netherlands, the home of the NATO Joint Force Headquarters, where there has been significant interest in counterdrone products across a number of domestic Dutch and international customers.
- DroneShield continues to participate in a number of defence and security conferences, including FIDAE in Santiago, Chile - the premier military conference in South America, as well as DSA (as part of Team Defence Australia) in Kuala Lumpur, Malaysia.
To view the full report, please visit:
http://abnnewswire.net/lnk/V19G6XU1
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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