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Droneshield Limited (ASX:DRO) is a company from the information technology sector which is into the business of developing the pre-eminent drone security solution that provides help in protecting people, organizations and critical infrastructure from intrusion, has announced that its DroneGun Tactical product had been assigned a NATO Stock number. The DroneGun TacticalTM NSN is 5865661650137.
This number is being recognized by all the members of the NATO which also includes the United States Department of Defense. Through this NSN, the NATO militaries would now be able to purchase DroneGun TacticalTM on a âmilitary catalogue.â The NSN also streamlines the process related to procurement.
For those customers who are not the members of NATO, the assignment of NSN is relevant to them also. They can also accept the product which has received a certain level of acceptance from the defense customers who form a part of NATO and are NATOâs allies.
The company also highlights, that in 2018 itâs DroneGun MKIITM also obtained an NSN before the DroneGun Tactical product. After that, the company received a substantial order for that product from the Middle Eastern Ministry of Defense for $3.2 million.
Based on the previous orders for its DroneGun MKIITM, the company hopes the same for DroneGun TacticalTM. The company also anticipates that sales with regards to NATO and non-NATO countries would be aided by the receipt of NSN for DroneGun TacticalTM, and this would be quite imperative for top line numbers.
Since the inception of DRO, the stock has generated a negative performance of 48.33%. In last one year, the stock gave a negative return of 34.04%.
During the December quarter which ended on 31 December 2018, there was a total cash inflow of $489,209 generated through the customers. The company reports that this was the highest quarterly cash inflows till date. After the Gatwick events, in the first three weeks of January 2019, the company received total cash of $728,628. The cash received by the company from its customers was approximately 50% more as compared to the cash received during the entire previous quarter.
In October, the Central American government security agency placed an order for DROâs DroneSentryTM and DroneGun TacticalTM. It also received orders from major Asian governmental security agency for its DroneGunsTM. DroneGunsTM was delivered to the Western governmental law enforcement agency during the same period. In December, DRO announced a key strategic relationship in the Middle East. It entered into a teaming agreement with the Zain Group in the middle east and Thales Programas De Electronica Y Comunicaciones S.A.U. (âThalesâ) in Spain who purchased DROâs products as per their agreement.
By the end of the December quarter on 31 December 2018, DRO used around $1,085,377 in its operating activities. The company invested $221,100 for acquiring property, plant, and equipment. There was a net cash inflow $1,690,366 through its financing activities. By the end of the December quarter on 31 December 2018, DRO has net cash and cash equivalent of $1,229,499.
On the closure of the trading session (4 February 2019), the price of the stock was A$0.150 which was down by 3.226% with the market capitalization of A$28.22 million.
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