PCS Edventures! Announces Contract Award From the United States Air Force Junior Reserve Officers’ Training Corps

Rhea-AI Summary

PCS Edventures!, Inc. (PCSV) has secured a significant contract from the U.S. Air Force to provide up to 750 Discover Drones Classroom Packages annually for five years. The initial purchase order includes 344 units valued around $2.6 million, marking the largest single order in the company's history. President Michael Bledsoe expressed pride in this achievement, while CEO Todd Hackett noted the contract could exceed $30 million if fully exercised, positioning the company for substantial growth in the coming years.

Positive

• Awarded a contract from the U.S. Air Force for Discover Drones Classroom Packages.
• First order consists of 344 units worth approximately $2.6 million, the largest single order ever received by the company.
• Potential total contract value exceeding $30 million over five years, indicating strong growth prospects.

Negative

• None.

BOISE, Idaho, Oct. 03, 2022 (GLOBE NEWSWIRE) -- PCS Edventures!, Inc., (PCSV) a leading provider of K-12 Science, Technology, Engineering and Mathematics (STEM) education programs and drone products, today announced that the Company has won a competitive bid and has been awarded a contract from the United States Air Force for their Junior Reserve Officers’ Training Corps (JROTC). The contract allows the Air Force JROTC to purchase up to 750 units of our Discover Drones Classroom Packages each year for five years. They are not required to purchase more than one unit in any contract year after the first year. Their first purchase order is for 344 units, worth approximately $2.6 million.

Michael Bledsoe, President, commented, “I am very pleased on behalf of our employees and shareholders to win this contract. The Air Force’s first order represents the largest single order our Company has ever received. We are prepared to fulfill the contract and will begin shipping units within the next week. Ultimate fulfillment of the contract’s first order is anticipated to be late January 2023.”

Todd Hackett, CEO, stated, “This contract award with the Air Force is definitely a game-changer for our Company. If exercised fully, the contract has potential to exceed a total of $30 million over a 5-year period. I am proud of our employees who worked so diligently to win this contract and furthermore put our Company on track for major growth. We will continue going after larger implementations of our programs, and I look forward to providing our next contract update.”

For more information about PCS Edventures!, Inc., visit our website.

Company financial information and reports can be found at https://www.otcmarkets.com/.

About PCS Edventures!, Inc.

PCS Edventures!, Inc. (OTCPK: PCSV) is a Boise, Idaho company that designs and delivers technology-rich products and services for the K-12 market that develop 21st-century skills. PCS programs emphasize experiential learning in Science, Technology, Engineering, and Math (STEM). https://edventures.com/.
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Forward-Looking Statements.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of PCS and its “forward-looking statements” in such filings that are contained in the OTC Markets Group, LLC website at https://www.otcmarkets.com/.

Contact.

Investor Contact: Michael Bledsoe 1.800.429.3110, mikeb@edventures.com
Investor Relations Web Site: https://investors.edventures.com/

 

FAQ

What is the contract awarded to PCS Edventures! by the U.S. Air Force?

PCS Edventures! was awarded a contract to supply up to 750 Discover Drones Classroom Packages annually for five years.

How much is the initial purchase order from the U.S. Air Force worth?

The initial purchase order is for 344 units valued at approximately $2.6 million.

What is the total potential value of the Air Force contract for PCSV?

If fully exercised, the contract could exceed a total value of $30 million over a five-year period.

When will PCS Edventures! begin shipping units for the Air Force contract?

PCS Edventures! plans to begin shipping units within the next week, with fulfillment of the first order anticipated by late January 2023.