D13 invited to join high profile US-based EDGE Innovation Network
Positive news flow continues to emerge from Department 13 International (ASX:D13) with the company announcing on Monday morning that it had joined the EDGE Innovation Network, a collaborative, open environment initiative enabling industry and academia, with government input, to work together to enhance the delivery cycle of new technologies and innovative capabilities to military personnel, law enforcement and first responders.
This development could provide opportunities for the development and distribution of Department 13’s products, and with the group currently having 11 patents and 14 patents applications in the development of wireless protocol manipulation and communication networking software, aligning with the EDGE Innovation Network is both timely and strategically beneficial.
Chief executive, Jonathan Hunter, highlighted the significance of this development in saying that the invitation to join the EDGE Innovation Network validated the group’s position as the world’s leading counter drone technology company.
With regards to its role within the EDGE network, D13 will be involved with the deployment of MESMER, the world’s first effective and proven counter drone solution technology which should become commercially available in December 2016.
This technology detects, identifies, tracks and mitigates hostile and nuisance drones within the National Security and Public Safety community.
Management reported that there was already strong demand from national governments, security and military agencies and leading infrastructure organisations for the product.
Following a recent $6.5 million capital raising, Department 13 is well-placed to accelerate the commercial release of Mesmer Counter Drone Systems.
While the company’s shares retraced slightly after the capital raising, this morning’s high of 13 cents, representing an increase of 4% compared with Friday’s closing price, which now sees Department 13 trading ahead of the placement price of 12.5 cents.
Prices are subject to fluctuation and investors should take a cautious approach to any investment decision in this stock and seek professional financial advice.
While one can’t accurately predict whether post-placement selling has washed through and assess with any certainty whether this is the start of a rebound, investors who participated in the share placement should be encouraged by both this morning’s news and the positive share price momentum.