The Company reports results from its Unmanned Aircraft Solutions, Datron Military Communications, and Special Activities business units.
Research Triangle Park, NC, April 1, 2024–(BUSINESS WIRE)–Cyberlux Corporation (OTC: CYBL), a leading provider of innovative defense technology systems, announces record cash flow for the quarter ended December 31, 2023 Did.
Mark Schmidt, CEO of Cyberlux Corporation, commented on the results: “2023 was a remarkable year of strategic realignment across all Cyberlux business units. This realignment strengthened our focus on core Department of Defense (DoD) activities and Our strengths in unmanned aircraft technology were leveraged” (UAS) and military communications. The initiative was aimed at streamlining operations and strengthening the company's ability to provide quality products and services to customers. As a direct result of this strategic realignment, the company experienced immediate success by adding a total of +$105. With more than $80 million in UAS, $20 million in Datron Military Communications (DMC), and $5 million in special activities (SA) revenue recorded, Cyber lux has a sustainable track record for his 2024 We are poised for continued growth and defense industry leadership. onwards. “
2023 financial highlights:
• Completed the acquisition of Datron Systems, a provider of communications solutions to government, military and industrial users around the world. Datron has a long history of product development and manufacturing of quality products and has the infrastructure to support such activities.
• Signed a $79 million contract with the U.S. Department of Defense to supply the Cyberlux K8 unmanned aircraft system. Cyber lux received $39 million in upfront cash at closing, will ship $15 million in product during 2023, and still has a $23 million advance as of December 31, 2023.
• Sold three overseas subsidiaries. This greatly simplifies Cyberlux's business operations, financial statements, and income tax reporting. The Company reported the operations of these subsidiaries as discontinued operations in its 2023 and 2022 financial statements.
• Improved finance and accounting capabilities through adoption of systems/capabilities of Fractional CFO, outsourced accounting and tax firm, and Datron team.
• Ended 2023 with $3 million in cash.
• Reconciled stock and debt transactions from company books to transfer agent records. When necessary, Cyberlux takes steps to have a transfer agent issue stock certificates to comply with shareholder agreements.
• A reconciliation of Cyberlux's previous accounting was completed, restating 2022 revenue to $5 million.
Looking ahead to the transformational year of 2023, the company boldly refocused its operations, strategically divested certain assets, secured a significant sales order from the Department of Defense, and completed the acquisition of Datron World Communications. welcomed. Thanks to Mr. Eisneramper's advice and legal counsel, the company was able to take advantage of favorable tax options. Cyberlux is resolute in its commitment to growth and sustainability. Management remains confident that its 2023 results will lay a strong foundation for continued success into the future.
For more information, please see the full 2023 Annual Report: https://www.otcmarkets.com/otcapi/company/financial-report/396408/content.
About Cyberlux Co., Ltd.
Founded in 2000, Cyberlux Corporation (OTC Bulletin Board: CYBL) is comprised of three main business units: Unmanned Aircraft Solutions (UAS), Datron Military Communications (DMC), and Special Activities (SA). is a defense industry technology solutions company.
Unmanned Aerial Vehicle Solutions Division
Cyberlux Unmanned Aircraft Solutions (UAS) is an innovative leader in the development, manufacture, and sale of advanced Group 1, Group 2, and Group 3 “vertical takeoff and landing” (VTOL) drone and fixed-wing technologies. This business unit designs, manufactures and sells products and airframe systems globally to major “first person view” (FPV) and military UAS pilots, and to both U.S. government agencies and allied nations through U.S. Foreign Military Sales (FMS). It is sold in ). Cyber lux UAS provides customers with best-in-class products and comprehensive services that meet the requirements of the world's UAS military sector. The Cyberlux UAS team is widely recognized as an authority in the industry, providing high-performance products with quality components and superior features to support warfighters around the world.
Datron Military Communications Division
Datron World Communications (Datron), a subsidiary of Cyberlux, is a global leader in voice and data wireless communications, serving government, military, and industrial customers in more than 100 countries. Known for its high-performance products and comprehensive services, Datron is recognized as the industry's best value provider of reliable equipment and customized solutions to meet specific mission needs. Datron has expanded its manufacturing capacity to improve the efficiency of his supply chain and product reliability by producing critical components for the UAS drone line and providing support for Cyber lux Advanced Lighting Solutions.
Special Activities Division
The Special Activities (SA) division within Cyberlux is the company's operational powerhouse, specializing in various aspects of warfare and providing ground-level support across all business areas. With expertise in military training, UAS operations, munitions and technology integration, SA provides comprehensive solutions tailored to each customer's needs. Its team is comprised of top-notch experts, including retired special operations personnel and seasoned UAS pilots, enabling SA to deliver scalable solutions with unparalleled professionalism and meet diverse mission requirements. I'm trying to do that. The SA plays a pivotal role in engaging with domestic and international clients, gathering critical feedback, and driving Cyberlux's research and development efforts.
For more information, please visit www.cyberlux.com. For investor information, please contact ir_cybl@cyberlux.com.
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contact address
ir_cybl@Cyberlux.com | Phone: (984) 363-6894
