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COMSovereign Holding Corp.$1.08($.02)(1.82%)

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 COMSovereign Holding Corp. Announces Total Preliminary Proforma Revenue of Approximately $11.8 Million for the Full Year Ended December 31, 2019
   Monday, February 24, 2020 8:01:00 AM ET

DALLAS, Feb. 24, 2020 /PRNewswire/ -- COMSovereign Holding Corp. (OTCQB: COMS) ("COMSovereign" or the "Company"), a US-based pure-play enabler of 5G connectivity and data transmission systems, today reported that based on preliminary unaudited financial information, the Company expects consolidated, pro forma total revenue for the 12-months period ended December 31, 2019 to be approximately $11.8 million. The pro forma results reflect the Company's acquisition of ComSovereign Corp. on November 27, 2019 as if such acquisition had been consummated on January 1, 2019.

COMSovereign Holding Corp. (PRNewsfoto/COMSovereign Holding Corp.)

Additionally, the Company anticipates that fourth quarter and full-year 2019 audited financial results will be reported on or before March 30, 2020 concurrent and within the Company's Annual Report filed with the SEC on Form 10-K.

Dan Hodges, chairman and CEO of COMSovereign Holding Corp., stated, "We are pleased to have nearly completed our efforts to transform and integrate the operations of our businesses, highlighted by the acquisition of ComSovereign Corp. in the fourth quarter of 2019. Through this transaction, we have taken a major step towards creating a robust telecommunications technology company with several unique sole-sourcing capabilities and innovative products that we believe will accrete significant market share. With these strategic actions completed, we now expect our sales to ramp-up starting later this year."

About Holding Corp.
COMSovereign Holding Corp. (OTCQB: COMS) has assembled a portfolio of communications technology companies with combined capabilities with the objective of enabling connectivity across the entire data transmission spectrum. Through strategic acquisitions and organic research and development efforts, COMSovereign is seeking to become a US-based pure-play communications provider able to provide LTE Advanced and 5G-NR telecom solutions to network operators and enterprises world-wide. For more information about COMSovereign, please visit www.COMSovereign.com  or view documents that it files with or furnishes to the Securities and Exchange Commission at www.sec.gov , including the Risk Factors included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as well as information in its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, those relating to the Company's ability to develop and deliver advanced voice and data communications systems. The Company's financial results and the forward-looking statements could be affected by many factors, including, but not limited to, demand for the Company's products and services, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts:
Investor Relations for COMSovereign Holding Corp.:
Steve Gersten
813-334-9745
investors@comsovereign.com

and

Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/comsovereign-holding-corp-announces-total-preliminary-proforma-revenue-of-approximately-11-8-million-for-the-full-year-ended-december-31--2019--301009641.html

SOURCE COMSovereign Holding Corp.



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