Post by icemandios on Sept 30, 2022 12:35:20 GMT
COMSovereign Continues Product Sales to Tier One Customers and the Military as Team Leads Business Transition
PR Newswire
DALLAS , Sept. 29, 2022 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions today provided an update on product sales to multiple tier one and other telecommunication and military customers.
On September 7 th , the Company announced that David Knight was appointed as interim CEO as part of the team leading COMSovereign's transition. The Company's plan is focused on supporting existing sales, the significant reduction of corporate expenses and the realignment of its corporate operations and business activities.
"The entire COMSovereign team has worked tirelessly to advance progress across several key operational aspects of our transition including our ability to support existing tier one and other network operators and military customers who continue to seek out our products. The unique capabilities of our offerings such as our wireless solutions remain a critical enabling asset for our customers, and we are working to ensure that we can continue to meet their needs," said David Knight .
Recent sales and corporate developments include:
The Company continues to deliver its Fastback and DragonWave radio systems from existing inventory to customers, including multiple tier one operators in North America .
COMSovereign's Drone Aviation unit continues to advance against key production and delivery milestones for its Winch Aerostat Small Platform ("WASP") under the $8.4 million subcontract from a U.S. Government prime contractor received in January .
The Company has significantly reduced operating expenses including overhead through an approximate 75% reduction in headcount.
Significant progress towards the completion of the Company 10-Q for the period ended March 31, 2022 has been made and is expected to be filed in October. The team continues to address issues related to the timely preparation and review of the Company's outstanding financial statements.
The Company anticipates releasing additional information regarding its ongoing transition and operations later in October as it completes further strategic actions.
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) offers a portfolio of advanced communications technology for connectivity across private and public networks. Through its core strategic acquisitions and internal research and development efforts, COMSovereign has built a U.S.-based communications solution provider to deliver 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments. For more information about COMSovereign, please visit www.COMSovereign.com .
PR Newswire
DALLAS , Sept. 29, 2022 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions today provided an update on product sales to multiple tier one and other telecommunication and military customers.
On September 7 th , the Company announced that David Knight was appointed as interim CEO as part of the team leading COMSovereign's transition. The Company's plan is focused on supporting existing sales, the significant reduction of corporate expenses and the realignment of its corporate operations and business activities.
"The entire COMSovereign team has worked tirelessly to advance progress across several key operational aspects of our transition including our ability to support existing tier one and other network operators and military customers who continue to seek out our products. The unique capabilities of our offerings such as our wireless solutions remain a critical enabling asset for our customers, and we are working to ensure that we can continue to meet their needs," said David Knight .
Recent sales and corporate developments include:
The Company continues to deliver its Fastback and DragonWave radio systems from existing inventory to customers, including multiple tier one operators in North America .
COMSovereign's Drone Aviation unit continues to advance against key production and delivery milestones for its Winch Aerostat Small Platform ("WASP") under the $8.4 million subcontract from a U.S. Government prime contractor received in January .
The Company has significantly reduced operating expenses including overhead through an approximate 75% reduction in headcount.
Significant progress towards the completion of the Company 10-Q for the period ended March 31, 2022 has been made and is expected to be filed in October. The team continues to address issues related to the timely preparation and review of the Company's outstanding financial statements.
The Company anticipates releasing additional information regarding its ongoing transition and operations later in October as it completes further strategic actions.
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) offers a portfolio of advanced communications technology for connectivity across private and public networks. Through its core strategic acquisitions and internal research and development efforts, COMSovereign has built a U.S.-based communications solution provider to deliver 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments. For more information about COMSovereign, please visit www.COMSovereign.com .