Mission Ready Reports Record Quarter and Six Month Revenues

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 31, 2015) - Mission Ready Services Inc. (TSX VENTURE:MRS) - Mission Ready Services Inc. ("Mission Ready" or the "Company") is pleased to report that it has again achieved a new high for gross revenues in a quarter.

Highlights

• Record revenue in Q2 2015 of over $2.7M, a 147% increase over Q2 2014
• Net income of $400 thousand in Q2 2015 compared to a $500 thousand loss in Q2 2014
• Revenues of $2.8 million for Q2, $4.8 million year to date.

The Company has increased its gross revenues to the end of the second quarter in 2015 by $ 3.07 million to $4.8 million (2014 - $1.74 million), a 176% increase over the same period in 2014. Total expenses in determining Income (Loss) Before Other Items increased 62% to $4.6 million from $2.8 million. Income Before Other Items increased to $.25 million as compared to a loss of $1.06 million in the prior year. This improvement is attributed primarily to the increased revenue and higher profit margins achieved by the Company's cleaning, decontamination and repair business.

The Company's overall net loss for the six month period decreased by 124% from $1.6 million last year to $.17 million for the current year. This loss is mainly attributed to: non-cash expenses of $.50 million for Amortization & Depreciation, $.17 million for Stock Based Compensation and interest and debenture conversion costs of $0.10 million; partially offset by a foreign currency translation gain of $.3 million and by net income from operations of $.4 million in the current quarter. The Company continued its product development efforts including, placing our patented No-Contact technology into a riot control shield (patent pending). We also completed development and supported US Army trials for a new generation combat shirt and concurrently developed a Tactical Police Shirt (patents pending).

Results for the second quarter 2015 are much improved over the first quarter of 2015 for both 10-20 Services and Protect The Force. For 10-20, revenues were in excess of $2 million compared to $1.3 million for the previous quarter and its operations continue to be cash flow positive, with net income from operations of $0.4 versus a loss of $.04 in the first quarter The increase is due to 10-20's US Marine contract and increased logistical services provided. For Protect The Force, work is continuing on the $1.4 million contract award from the US Navy Marine Corps as well as earning revenue from several other projects for the Department of Homeland Security, North Carolina State University and other clients.