Company delivers 613% increase in quarter-over-quarter revenue growth and posts positive net income for the period ended September 30, 2021.
RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / November 16, 2021 / Today, Cyberlux Corporation, (OTC Bulletin Board:CYBL), an advanced technology platform company and a leading provider of LED lighting, renewable energy and infrastructure technology, and advanced unmanned aircraft systems (UAS) solutions, announced the Company's financial performance for the three and nine months ended September 30, 2021.
Financial Highlights for Three and Nine Months Ended September 30, 2021
- Revenues from Operations for the three months of $2.251 million, up 613% from the $0.367 million in revenue for the previous quarter ended June 30, 2021.
- Revenues from Operation for the three months exceeded June estimates by 50.1% with $2.251 million versus $1.5 million expectation.
- Revenues from Operations for the nine months of $2.62 million, an increase of $2.62 million on a year-over-year basis.
- Net Income for the three months of $155,299 grew 252% on a year-over-year basis.
- Net Income for the nine months ended of $543,263 grew 289% on a year-over-year basis.
- Total assets increased 1,169% year to date to $921,792 from $78,838.
- Total liabilities reduced by $590,289, a 12.5% decrease versus year-end December 31, 2020.
Cyberlux Corporation CEO Mark Schmidt commented on the results:
"Dear CYBL Community, we really exceeded our expectations with these Q3 results, which was an exceptional operational quarter for our team. We launched Operation Alpha, announced our first acquisition, added key personnel, launched our UAS business unit, and had great revenue, net income and balance sheet results for the quarter. As I've said, we are just getting started and this is just the beginning. We expect Q4 and beyond to be an exciting period of continuous growth for Cyberlux. Let's go!"
Operational Highlights for Three Months Ended September 30, 2021
- The three months ended September 30, 2021 exceeded Management expectations for growth in the Company revenue, net income from operations and liability reduction due to the initial success of the Operation Alpha plan and the aggressive growth initiatives undertaken by the Company.
- We launched the Company's Operation Alpha growth plan, which has three top priorities: (1) drive growth through aggressive business development, acquisitions and joint ventures; (2) address core target markets with DoD products, new specialty technology capabilities, solar and renewables, and with emerging infrastructure projects; and (3) gain immediate business velocity by achieving OTC Pink Current Information status, continuing to build out the Company's organization, focusing on the new business and the new product pipeline, accelerating the South American projects and driving on our strategic IP development.
- We concluded our first acquisition transaction and added stealth works CTMC Drone Solutions, LLC to Cyberlux Corporation as the foundation of our new Cyberlux drone business unit, FlightEye Drone Solutions. This new Cyberlux organization will focus on the unmanned aircraft systems (UAS) market including drone-related technology and intellectual property development, manufacturing, drone services, and government and commercial sales.
- We announced Mr. Larson Isely as Cyberlux Executive Vice President and General Manager of our FlightEye Drone Solution business unit. Mr. Isely is a Guidance Systems Expert and Consulting Scientist retained by major Aerospace & Defense firms. He has held IBM Executive Leadership positions spanning decades including VP of Engineering and Operations. Most recently, Mr. Isely was an Executive Management Consultant responsible for Fortune 50 Big Data Architecture and Deployment.
- We implemented our new 8.75 billion Authorized Share level with the Nevada Secretary of State, which is a 56% reduction from the prior 20 billion Authorized Share level. We now have enough strategic equity, approximately 3.4 billion shares of common stock, to achieve our Operation Alpha growth plans while protecting shareholders from any unnecessary dilution.
- We implemented our "No Reverse Split Policy" with the Nevada Secretary of State, which prevents CYBL from executing a reverse stock split for 5 years. One of our core principles is to create shareholder value and the No Reverse Split Policy eliminates this potential manipulation of share value while honoring the investment our shareholders have made in CYBL.
- We announced our Channel Delivery Partnership with Strike Group, LLC to drive the adoption, contracting and revenue of the FlightEye Drone Solutions products and the Cyberlux Infrastructure products including LED street lighting and solar power solutions. Founded in 1998, Strike Group, LLC, is a world leader in sustainment logistics, infrastructure delivery, and material sourcing for U.S. Agencies, the Department of Defense, and the commercial contracting marketplace, with expertise in distribution, logistics and infrastructure delivery.
- We gained full compliance with all the OTC Markets Pink requirements through our Disclosure statements and Financial filings and achieved the Pink Current Information status as of September 14, 2021. We met both the OTC Markets and the SEC deadlines to operate and trade on OTC Markets. We also eliminated the shell company indicator based on our Q2 business results.
- We introduced our FlightGDN platform, a global UAS capabilities framework to harness the future of UAS capabilities. FlightGDN is a proprietary technology platform to support compact, next-generation military-grade UAS products and UAS solution packages. Encompassing both proprietary Cyberlux and third-party technologies, including LED lighting, infrared night vision capability, thermal sensor technology, "eye-in-the-sky" monitoring capabilities, LiDAR mapping and advanced VR/AR perception technologies, the FlightGDN platform will provide a seamless, scalable UAS solution for both military and commercial UAS command and control operations.
- We were honored to be recognized by Yahoo Finance as one of the 10 Best Micro-cap Stocks to Invest in.
CYBL CEO Mark Schmidt further commented:
"Going forward, Cyberlux Corporation is "Harnessing the Future" and we are driving operational growth with current and future technologies, through fundamental organic growth and through an accelerated acquisitions and joint ventures strategy, all fueling our significant future growth. As we develop advanced technology products, we will identify core technology and product companies, and these companies will become the Cyberlux growth catalysts. As the Q3 results show, now we are harnessing the future, building Cyberlux into a leading technology growth company."
About Cyberlux Corporation
Cyberlux Corporation (OTC Bulletin Board: CYBL), is an Advanced Technology Platform Company driving growth through acquisitions, joint ventures and organic growth in the Unmanned Aircraft Systems (UAS), Advanced Lighting Systems, Infrastructure Technology and Software & Services markets. Our customers are U.S. agencies, including the Department of Defense (DoD), State and Local governments, select OEM commercial markets, and global customers across North and South America and Europe. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Cyberlux Corporation
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