Tipped this in the STT threads so I'll re-post here:
SOI: 468M (24M escrowed until Jan 2017, 277M escrowed until Jan 2018)
MC: $46M @ 9.8c
Cash: $6M
- Commercial delivery of MESMER version 1 in Jan 2017
- Top 10 hold 58%, Top 20 hold 69%
- 13 patents granted, 22 applications for patents (Ann 2/11)
- Total drone market forecast to be US $100 billion by 2020
- Drone defense market forecast to grow to US $1.14 billion by 2022
- Military, homeland security and commercial applications
D13 is developing cutting edge software and communication systems that have the potential to transform the networking and communication fields as well as current applications in drone defence, mobile phone IT security and secure enhanced android phone systems.
Their key product, MESMER can detect, identify and mitigate either hostile or nuisance drones across a range of national security, defence or commercial applications. The solution utilises patented protocol manipulation technology to take over the drone when it flies into a defined air space. Once the operator has control of the drone the threat can be mitigated in way that is not dangerous to personnel or infrastructure in the area. During the last quarter, they had accelerated procurement and fabrication of initial MESMER prototypes for field testing and demonstrations and accelerated R&D for development of additional drone mitigation capabilities.
Recently they were awarded a $400k contract by PAR Government Systems Corporation (PAR Government) to provide a series of mobile applications that will be tested and evaluated by United States Department of Defense operational elements to improve situational awareness and combat coordination.
In September they successfully demonstrated Mesmer, its counter-drone solution, surpassing all expectations at Black Dart, the United States Department of Defense (DoD) premier counter-drone testing and evaluation exercise. During this time, Mesmer was evaluated against its competitors by stakeholders from a variety of US government agencies and international organizations; all charged with procuring Counter-Unmanned Aircraft Systems (UAS) solutions.
In August, they were one of 8 finalists from 42 applicants worldwide to be selected for the MITRE Challenge. More impressively, D13 was one of only 2 finalists to present a mitigation system rather than a detection only option.
The chairman and CEO, Jonathon Hunter, has over 25 years experience in leadership positions within the US Military and government advisory committees. He is also a former advisor to the National Academy of Science on defense technology applications.
D13 Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
