Chairman and CEO Dennis O’Leary Issues Letter to Shareholders
NEW YORK, Jan. 21, 2021 (GLOBE NEWSWIRE) — DarkPulse, Inc. (OTC Markets: DPLS) (“DarkPulse” or the “Company”), a technology-security company focused on laser sensing systems based on its patented BOTDA dark-pulse sensor technology (the “DarkPulse Technology”) which provides a data stream of critical metrics for assessing the health and security of infrastructure for applications in border security, railroad, renewable energy, oil and gas, aviation and aerospace, and mine safety has issued the following letter from our CEO.
A Letter to Shareholders from the Chairman of DarkPulse Inc
As Founder of DarkPulse, it is my great pleasure to be able to address all of our shareholders in my first letter as Chairman and CEO.
When our company first entered the public market it was put on what I believe to be the wrong course. To that end, I took corrective action by making several changes which included both management and engineering. Those few but important changes needed to be accomplished in order to correct the company’s course and align it with its goals. Today I write to you to say we have not only aligned to those goals but have achieved several goals with anticipation of continued success in directing the company to revenue.
On behalf of our entire team, it is my pleasure to review 2020 accomplishments as well as our 2021 trajectory.
Since early 2020 we have made significant progress with the commercialization of our patents as well as building a global presence that will be part of the company’s accelerated entry into global infrastructure markets. With these exciting developments the momentum is continuing into
Significant Accomplishments of 2020
After appointing company board members and creating a solid Leadership Team, our trajectory and rate of accomplishments have significantly accelerated. While we did experience difficulties related to COVID 19 restrictions we utilized this time to complete our BOTDA sensor system.
In the last half of 2020, we were proud to have accomplished the following:
- The company has begun working a new design for a second more integrated system offering
- The company proudly announced the launch of its High Resolution BOTDA System.
- The Company added Faisal Faruqi as Director of EMEA and Asia
- The company created an Advisory to its Board of Directors with the intent to expand the advisory team
- The company signed an MOU with TSK Korea to create a manufacturing and logistics presence in South Korea
- The company is in the process of engaging a U.S. company to build our BOTDA systems and we believe the engagement will be finalized in early 2021
- The company has begun negotiations with several teaming partners to help expand our manufacturing, sales and installation capabilities
- We engaged a NYC brokerage firm to assist the company in raising non-toxic debt
- We are considering commencement of a private offering pursuant to Regulation A to assist the company in raising additional capital
- We’re building relationships into multiple markets through various licensing, teaming and partnership agreements
- We’ve engaged a professional graphics company to create marketing videos for our system
Sharpening Our 2021 Focus
In addition, the company is working toward the completion of an additional System interrogator “black box” unit with integrated components that will eliminate the need for our customers to purchase hardware from our competitors while offering a more complete and robust system application.
We have been in discussions with a major cloud services provider who has agreed to build our “back end” solution which will allow our customer graphic user interface (GUI) to be utilized anywhere in the world on any device in real time. The design also includes cloud based data storage which will enable customers to not only view their systems in real time and receive critical alerts but to also view historical data in order to have a full view of their systems over longer time periods which will offer a more comprehensive view of their systems health.
Gaining Momentum on the Financial Front
I am pleased to announce we expect revenues as early as Q3 2021. This is due to our Leadership Team focusing on sales, delivery, installation, and gaining momentum in the market. We expect the latter half of 2021 to be better in terms of achieving revenue, with significant contract wins expected in Q4 2021 within our target market segments for infrastructure monitoring including High Speed Rail, Renewable Energy, Oil & Gas, Physical Security.
We will continue to expand our efforts in Industrial and structural health monitoring applications, including cloud based Graphic Interface (GUI) services thereby providing a diverse and well-balanced customer base but with significant technology services. Overall, we expect 2021 revenues, and we are committed to continuing this geometric progression of revenue into the future as we expand.
We have engaged a NYC brokerage firm to assist in raising capital for the company to acquire targets deemed critical to both the expansion of our market presence, act as an on ramp into Oil & Gas services business and the distribution of our hardware and software applications.
I will also note that, since March 2019, I have not received a salary nor have accrued any salary. Members of the board of directors have also forgone receiving a salary and have not accrued any past salaries. Additionally, in order to reduce the amount of toxic debt taken by the company, I have personally funded DarkPulse in the amount of $97,000.00 in order to keep the company’s current reporting status, completion of the BOTDA system, as well as assisting with payments for our patents. While we work to reach revenues, we will seek non-toxic forms of funding and would only consider convertible type of notes as a last resort in order to maintain the company’s current filing status.
I would also like to announce that I will continue to wave any salary until the company generates revenues. Additionally, I have not sold any of my shares of DarkPulse and I pledge that I will not sell any of my shares for at least the next two years. I wholeheartedly believe in the future of our great company and I look forward to sharing in the success with our loyal shareholders.
Our Leadership Team is 100% committed and has been since coming on board. We have continued to fight the hard fight, and we will continue to work hard every day. When shareholders message me how they are appreciating that I’ve replied to an email or returned a phone call or social media message, it’s not because I have to; it’s because I value you, and it’s my intention that, as a shareholder, you feel our passion.
I thank all of our shareholders for your continuing support, and hope that 2021 brings you continued health, happiness, safety and prosperity.
Dennis M O’Leary
Founder, Chairman, CEO, Entrepreneur
About DarkPulse, Inc.
DarkPulse, Inc. uses advanced laser-based monitoring systems to provide rapid and accurate monitoring of temperatures, strains and stresses. The Company’s technology excels when applied to live, dynamic critical infrastructure and structural monitoring, including pipeline monitoring, perimeter and structural surveillance, aircraft structural components and mining safety. The Company’s fiber-based monitoring systems can assist markets that are not currently served, and its unique technology covers extended areas and any event that is translated into the detection of a change in strain or temperature. In addition to the Company’s ongoing efforts with respect to the marketing and sales of its technology products and services to its customers, the Company also continues to explore potential strategic alliances through joint venture and licensing opportunities to further expand its global market position.
For more information, visit www.DarkPulse.com
Safe Harbor Statement
This news 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, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward- looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include, among others, the following: our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.