Alpine 4 Technologies, Ltd. (ALPP) and Impossible Aerospace Corporation (IA) Announce that IA Has Completed the Final Milestone of Their $1.5 Million US Air Force Contract.
PHOENIX, AZ / ACCESSWIRE / November 23, 2020 / Alpine 4 Technologies, Ltd., (OTCQB:ALPP) owner of leading small market businesses, announced today that Impossible Aerospace Corporation (IA) has completed its final deliverable on its first $1.5 million contract with the United States Air Force.
The SBIR (Small Business Innovation Research) contract financed the testing, delivery and deployment of several Impossible Aerospace US-1 aircraft into an operational defense environment. While several American companies have announced or launched American-built small unmanned aircraft systems (sUAS), the unique endurance, robustness and sensing capabilities of US-1 have been put to work protecting the nation’s critical defense systems, including its stockpile of nuclear ICBMS across the western United States.
Kent Wilson, CEO of Alpine 4: “This was a big milestone for IA of which we find confidence inspiring for procurement of future contracts. While the US Air Force contract was new and the delivery to them was very recent, Alpine 4 won’t be able to account for these sales due to how we recognize revenue. Going forward, the team will be working hard to secure additional service-related contracts associated with this drone delivery. Our subsidiary, Quality Circuit Assembly, Inc., was a critical supplier in the building of the drones that were sent to the Air Force. It gives me great pleasure to see both QCA and IA succeed in this endeavor! The harmonious relationship between QCA and IA will fit nicely within our DSF business model.”
Alpine 4: Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards but also increase value for our shareholders.
Kent B. Wilson, CEO or Ian Kantrowitz, VP of Investor Relations
Forward-Looking Statements: The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. The merger of IA is expected to close on or around December 10, 2020 pending certain closing conditions. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
SOURCE: Alpine 4 Technologies, Ltd.
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