COMSovereign Issues CEO Business Update
DALLAS, April 22, 2021 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS) ("COMSovereign" or "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today issued the following business update from Dan Hodges, Chairman and CEO:
To Our Fellow COMSovereign Stakeholders:
Over the last several months many notable developments have occurred at COMSovereign, and I am writing to you now to update you on the business. Supported by the raise of over $43 million completed in January and February, we are now entering the next growth phase of our strategic plan – the ramp up of commercial production – a stage for which our team has spent the past 18 months preparing.
For nearly a year and half, our energies were focused on assembling and integrating the operations of our various business units, conducting critical testing and evaluation of our advanced technologies, and, most importantly, building a world-class leadership team. Together, we worked to lay the foundation for a business that can capitalize on the opportunities we see in the market for a true, end-to-end domestic provider of key 4G LTE and 5G NR enabling technology. I am proud to say that we are now beginning to see the fruits of this labor.
In this update, I want to share developments underway in production that we are confident will help us to realize the tremendous unrealized value that exists in what we have built.
Domestic production capability is one of the foundational elements of our long-term plan and directly supports our corporate growth strategy and mission to be the recognized leader in US-sourced telecom network equipment. To achieve our mission, we have a two-pronged approach: 1) organically build from within, or 2) acquire existing solutions. Our strategic approach to acquisitions demands that each potential acquisition must not only deliver incremental revenue, existing customers, and talent, but must also add technical capabilities that we could not otherwise realize. We are disciplined in our approach to growth, and we are committed to continuing to follow this strategy. It is important to note that in all our prior acquisitions, the talented founders and staff have not only made long-term investments in our future through compensation in restricted shares, but most have become integral members of our team, overseeing key facets of our business. This commitment is a strong testament to a shared vision of the many opportunities we have ahead of us.
In closing, over the coming weeks and months, we intend to continue our efforts to communicate our progress on our growth path, including sales, production, and material news developments. We intend to host investor conference calls and continue engagement with the investment community and look forward to providing further updates and to sharing our progress as we realize the vision of American Made 5G.
About COMSovereign Holding Corp.
Steve Gersten, Director of Investor Relations
Media Relations for COMSovereign Holding Corp.:
View original content to download multimedia:http://www.prnewswire.com/news-releases/comsovereign-issues-ceo-business-update-301274642.html
SOURCE COMSovereign Holding Corp.