VANCOUVER, British Columbia, March 11, 2020 (GLOBE NEWSWIRE) -- Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV:MRS) is pleased to announce that, on March 5, 2020, the Company – through its wholly-owned subsidiary, Unifire, Inc. (“Unifire”) – was awarded a firm-fixed-price, indefinite delivery/indefinite quantity (“IDIQ”) contract (SPE8EJ-20-D-0014) (the “Contract”) by the United States Defense Logistics Agency (“DLA”) under solicitation SPM8EJ-13-R-0001. A total of six companies (Unifire and five others) were awarded contracts in connection with the extension of DLA’s Special Operational Equipment (“SOE”) Tailored Logistics Support (“TLS”) contract (the “NEW SOE Bridge”). The New SOE Bridge will continue coverage of the full line of SOE and incidental services under the DLA Troop Support SOE TLS program from March 7, 2020 through March 6, 2021.
A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor’s cost experience in performing the contract. In U.S. Federal government contracting, an IDIQ is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time. IDIQs are also sometimes called "Task Orders" or "Delivery Order Contracts." IDIQ contracts are a subtype of Indefinite Delivery Contract (IDC), which is a "vehicle that has been awarded to one or more vendors to facilitate the delivery of supply and service orders.
Additional information on the New SOE Bridge can be viewed at the following link:
https://www.defense.gov/Newsroom/Contracts/Contract/Article/2104849/
“This bridge will ensure seamless support for our war-fighters and we are focused and committed to our execution at the highest level,” said John Stone, President of Unifire. “We plotted an ambitious roadmap for growth that began in 2019 – This contract will be instrumental in the Company’s efforts to obtain increasingly favorable capital facilities to secure further contract awards, fuel our growth trajectory and challenge our own sales objectives for the coming quarters.”
SOE Pre-Award Protest Update
On February 13, 2020, Unifire filed a pre-award protest with the U.S. Court of Federal Claims (“COFC”) challenging the decision of the U.S. Defense Logistics Agency to exclude Unifire’s proposal from the competition under SPE8EJ-18-R-0001 (Special Operational Equipment Tailored Logistics Support program). Unifire had earlier filed its protest with the U.S. Government Accountability Office (“GAO”), but this protest was dismissed without prejudice for procedural reasons that did not address the merits of Unifire’s position after another protester under this procurement elected to move its protest from the GAO to the COFC. Unifire believes that it has a meritorious claim that DLA’s decision to exclude Unifire’s proposal was made in a manner inconsistent with prescribed U.S. federal government regulations. Unifire intends to prosecute the bid protest vigorously. The outcome of this proceeding cannot be predicted with certainty, and there can be no assurance that this protest will be resolved in a manner favorable to Unifire.
SOE TLS Program Summary
The Defense Logistics Agency developed and supports the SOE TLS program which allows the U.S. Military, U.S. Federal Agencies, and other authorized customers to order brand-specific, commercial off-the-shelf part-numbered items through DLA Prime Vendors.
SOE TLS Contract
The Special Operational Equipment Tailored Logistics Support contract, facilitated by DLA, enables customers to order commercial, off-the-shelf part numbered items within the scope of the contract. Since multiple vendors are solicited for prices, customers benefit from a competitive business model that will ensure best value for the customer.
Prime Vendors
There are 6 Prime Vendors who are eligible to participate in the SOE TLS contract, including Unifire. When a request is submitted for a specific product, DLA will contact the 6 Prime Vendors who will request a price quote from the manufacturers in their respective networks before responding back to DLA with their best price and lead time. This allows the end-user to benefit from the Prime Vendor’s pre-established relationships and secure favorable pricing.
Bid Process & Order Flow
1. Customer places an order with DLA
2. DLA sends Request for Quotation (“RFQ”) to each of the 6 Prime Vendors
3. Prime Vendor obtains pricing and lead times from their vendor(s) → Respond to RFQ
4. DLA reviews RFQ responses → Selects winning bid → Delivers the winning bid to the customer for approval
5. Customer approves the winning bid
6. DLA forwards customer information to winning bidder (Prime Vendor) for order processing
7. Prime Vendor processes the order → Remits payment per specified terms → Coordinates delivery
“It is positively rewarding to see our vision beginning to materialize as evidenced by the exponential sales growth we realized in 2019, the newly-awarded bridge contract, and the resultant opportunities we have to compound these wins in 2020,” shared Jeff Schwartz, Mission Ready’s President & CEO. “We have the great fortune of working with some of the most proficient names in the government contracting industry – from Unifire’s accomplished sales team led by John Stone, to the top tier counsel directing the Company’s pre-award protest initiative (which has been elevated to the COFC from the GAO), to many notable vendor partners helping to bring it all together. We know that the people and the corporate culture largely define the level of a company’s success which is why we put great emphasis on engaging distinguished talent, investing in excellence, and creating a healthy, challenging and rewarding corporate environment.”
About Mission Ready Solutions Inc.
Mission Ready specializes in providing comprehensive government contracting solutions through its privileged access to a host of government contracting vehicles including its Special Operational Equipment (“SOE”) Tailored Logistics Support (“TLS”) contract administered by the United States Defense Logistics Agency (“DLA”), and Multiple Award Schedule contracts administered by the United States General Services Administration (“GSA”).
Mission Ready’s wholly-owned subsidiary, Unifire, Inc. (“Unifire”), is one of six companies, globally, authorized to provide equipment and designated services under DLA’s SOE TLS program. Unifire is a designated Small Business and an industry-leading manufacturer and distributor of over 1.5 million fire, military, emergency, and law enforcement products. As an incumbent awardee of the SOE TLS contract, with extensive knowledge and experience in providing solutions to the US Federal Government, Unifire utilizes its highly-efficient, scalable technology infrastructure to provide procurement solutions for program managers, military and federal contracting offices, base supply centers, and other governmental supply agencies.
Mission Ready trades on the TSX Venture Exchange under the symbol MRS.
For further information, visit MRSCorp.com or contact:
Investor Relations
T: 1.877.479.7778 – Ext 5
E: IR@MRSCorp.com
Mission Ready Solutions Inc.
(signed “Jeffery L. Schwartz”)
Jeffery L. Schwartz,
President & CEO
T: 1.877.479.7778
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Forward-Looking Information
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.