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COMS Gains on WASP Developments
COMSovereign Holding Corp. (NASDAQ: COMS), saw its shares grow Friday. The U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions announced that its Lighter Than Air Systems subsidiary, dba Drone Aviation, has been awarded a multi-unit, $8.4-million subcontract from a U.S. Government prime contractor for its Winch Aerostat Small Platform (“WASP”) and related support services.
The WASP is a highly tactical and mobile aerostat system which can be operated by a crew of two and can provide day/night video, secure multi-frequency and multi-wave form wireless communication range extension capability from an unimproved site or while being towed.
U.S. Army soldier-operated and DHS agent-operated WASP systems have accumulated thousands of flight hours across the U.S., Middle East and Africa. Operating at altitudes of up to 1,500 feet AGL, the WASP system can significantly extend Intelligence, Surveillance and Reconnaissance capabilities and secure communications in remote and austere locations.
The systems can be rapidly configured to support a variety of mission requirements for days, weeks or months with customized payloads.
COMS CEO Dan Hodges remarked, 'Today's award for new WASP systems is a major endorsement of our unique, rapidly deployable tethered aerostat technology. It was the technology and operating advantages of our WASP aerostat that resulted in our selection for this award. We are excited to begin working with our new prime contractor partner on this program and to helping this important government customer meet their mission requirements.'
COMS shares gathered steam, gaining 17 cents, or 2.9%, to 59 cents.
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