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COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) is a leading developer of advanced telecommunications solutions, catering to telecom network operators, mobile device carriers, and various enterprises worldwide. The company specializes in designing, manufacturing, and selling microwave packet radio equipment. Their products, such as backhaul telecom radios, enable service providers, government agencies, and enterprises to meet rising bandwidth demands efficiently and cost-effectively. These radios facilitate broadband voice, video, and data transmission.
COMSovereign also offers cutting-edge in-band full-duplex and transpositional modulation technologies designed to overcome the performance limitations of conventional transmission technologies. Their portfolio extends to intelligent batteries and backup power solutions, which are crucial for cellular towers, radio access network infrastructures, and various vehicles, including automotive, aerospace, and marine.
The company's commitment to innovation is evident in their development and sale of tethered drones and aerostats, used in intelligence, surveillance, reconnaissance, and communications applications. Their strategic approach includes both organic research and development and strategic acquisitions, bolstering their ability to provide comprehensive 4G LTE Advanced and 5G solutions.
Recent achievements include a reseller agreement with SIFF LLC for cloud-based network change monitoring and compliance software, enhancing their SaaS offerings. They have also successfully deployed Fastback Intelligent Backhaul Radios with a major travel stop network, demonstrating the practical impact and reliability of their solutions in real-world settings. These radios are recognized for their exceptional performance in highly congested environments and ease of installation, especially in rural or remote locations.
Despite recent challenges with SEC filings, COMSovereign remains committed to regulatory compliance and has made significant strides in filing delinquent reports. Their ongoing efforts to streamline operations and reduce costs have positioned them well for future growth and sustainability. For more updates and information, please visit their website www.comsovereign.com.
COMSovereign Holding Corp. (NASDAQ: COMS) has received a contract valued at $199,400 from the National Institute of Standards and Technology (NIST) for developing a 5G ORAN-FlexRAN system. This award follows a competitive review and validates the company's technological capabilities in 5G communications. The 5G O-RAN technology aims to support multiple use cases, including military and secure commercial sectors. The contract is a significant endorsement for COMSovereign's efforts in delivering advanced communication solutions.
COMSovereign Holding Corp. (NASDAQ: COMS) has successfully sold its Sovereign Plastics business unit for $2 million. This strategic divestiture is aimed at focusing resources on its core telecommunications operations, particularly in 5G technology, while simultaneously reducing operating expenses. President John E. Howell expressed confidence that this transaction will enhance the company's ability to capitalize on global opportunities. The company continues pursuing the divestiture of non-core assets, reinforcing its commitment to improving financial health and operational efficiency.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) has announced a suspension of dividends on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock. This decision comes after the payment of the May 2022 dividend, previously announced. The Board aims to preserve cash while finalizing the audit of its Annual Report for the year ended December 31, 2021, and seeking to sell non-core business operations. The suspension will last until further notice, with dividends accruing until authorized or declared in the future.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced it received a non-compliance notice from Nasdaq due to late filings of its Annual Report on Form 10-K and Quarterly Report on Form 10-Q. The delay is attributed to complexities arising from six acquisitions made in the last fiscal year, which required outside valuations and impairment appraisals. The company has until June 20, 2022, to submit a compliance plan, with a potential extension until October 12, 2022, if accepted by Nasdaq.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced it is non-compliant with Nasdaq Listing Rule 5250(c)(1) due to its failure to file the Annual Report on Form 10-K by the March 31, 2022 deadline. The delay stems from six acquisitions in the past year, including two outside the U.S., complicating necessary valuations under U.S. GAAP. COMSovereign has 60 days to submit a compliance plan and expects to file the Form 10-K within 30 days, aiming to regain compliance by October 12, 2022.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced the departure of CFO Fran Jandjel due to personal commitments. The company has initiated a search for a new CFO while retaining a senior financial professional to assist with its annual report for 2021. CEO Dan Hodges expressed gratitude for Jandjel's leadership during a challenging period. The company's focus remains on developing advanced communication technologies for 4G LTE and 5G systems.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) has announced a cash dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock. This dividend is set to be paid on May 20, 2022, to shareholders of record as of April 29, 2022. The Board of Directors authorized this dividend to enhance shareholder value while highlighting the company's commitment to its investors.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) will exhibit at the International Wireless Communications Expo (IWCE) from March 21-24, 2022, in Las Vegas. The company will showcase its secure wireless network technology, including Fastback microwave radios and FeatherLite™ 4G LTE solutions, alongside its HoverMast drone for temporary networks. IWCE, North America's premier mission-critical communications event, attracts professionals from public safety and various sectors. For more details, visit www.COMSovereign.com.
COMSovereign Holding Corp. (NASDAQ: COMS) declared a dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock. The dividend is set to be paid on April 20, 2022 to shareholders registered as of March 31, 2022. This move reflects the company's commitment to provide returns to its preferred shareholders.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced that Dr. Scott Velazquez, Chief Research Officer, will present three whitepapers at the GOMACTech 2022 conference from March 21-24. The whitepapers focus on advanced communication technologies, including Lextrum's ASTARA™ In-Band Full Duplex antenna, TM Technologies' Transpositional Modulation for enhanced spectral efficiency, and VEO's innovative modulator and photodetector designs. These technologies aim to improve the efficiency of 5G communications and optical networking, showcasing COMSovereign's commitment to advancing telecommunications solutions.
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