September 17, 2021
OTC Disclosure & News Service
Durham, NC —
This release includes additional documents. Select the link(s) below to view.
Cyberlux Corporation Introduces FlightEye Drone Solutions Leadership, Acquisition Structure and Technology Platform of the Unmanned Aircraft Systems Unit Final.pdf
The Company announces the Cyberlux Executive Vice President and General Manager of its FlightEye Drone Solution business unit, discusses the Acquisition Structure and the FlightGDN Technology Platform.
RESEARCH TRIANGLE PARK, N.C. (September 17, 2021) Cyberlux Corporation, (OTC: CYBL), a leading provider of LED lighting, renewable energy, and active technology solutions, announced today that Defense, Space and Technology Industry expert Larson J. Isely is leading the Companys FlightEye Drone Solutions Division as Cyberlux Executive Vice President and General Manager of the Unmanned Aircraft Systems (UAS) business unit.
Mr. Isely, one of the core technical contributors to the Cyberlux illumination patents and technology platform that underpins the Companys Department of Defense (DoD) products, is joining Cyberlux Corporation after 11 years as a technical executive and data scientist in the Technology and Financial industries. During this time, Mr. Isely continued to develop intellectual property and technology breakthroughs across numerous domains, including big data analytics, guidance and control systems, illumination technology and avionics. With the Cyberlux acquisition of the CTMC Drone Solutions, LLC stealth works, Mr. Isely is now positioned to lead the FlightEye Drone Solutions team and drive Cyberlux to industry leadership in the UAS market, including patentable UAS-related technology and strategic intellectual property.
Larson J. Isely Background and Experience
Mr. Isely is a Guidance Systems Expert and Consulting Scientist retained by major Aerospace & Defense firms. He has held IBM Executive Leadership positions spanning decades including VP of Engineering and Operations. Most recently, Mr. Isely was an Executive Management Consultant responsible for Fortune 50 Big Data Architecture and Deployment.
Whether developing Advanced Flight Control and Guidance Systems for Defense and Aerospace clients, designing worldwide Big Data and Machine Learning solutions for the largest financial institutions, or leading IBM Product Engineering, Mr. Isely has achieved project successes through implementation of ultra-robust solutions for highly complex problems.
As UAS technology progresses beyond Gen7, Mr. Iselys portfolio of leadership and technical credentials includes the skill sets necessary for corporate governance in an industry increasingly dependent on Big Data, Advanced Analytics, Data Science and Machine Learning to sustain exponential growth.
Defense and Space Industry- Consulting Scientist
Boeing: Guidance Systems: B-1B Avionics Software
Lockheed: Guidance Systems: C-5B Avionics Software, F-16A/B Avionics AIS
BGM-109A/B/C Tomahawk Cruise Missile
Flight Control: C-130E RAMTIP Flat Panel Cockpit Upgrade
Northrop: Guidance Systems: AIM-120 AARAM LRAAM, LGM-118 MX ICBM
AIM-54C Phoenix LRAAM
AGM-84 Harpoon Cruise Missile
Honeywell: Guidance Systems: B-52H, LGM-118 MX ICBM
Classified Military Spacecraft
Flight Control: Space Shuttle Avionics Software
Financial Industry -Management Consultant
NewVantage Partners: Senior Principal Big Data Architect
Metlife: Big Data – Analytics – Data Science – Machine Learning
Nuveen: Big Data – Analytics – Data Science – Machine Learning
Technology Industry
Cyberlux Corporation: VP of Engineering and CTO
IBM: Executive Big Data Architect & Consulting Data Scientist
Executive Enterprise Architect & IT Security Team Leader
VP of Engineering and Operations, IBM Home Director
Director of Product Development, Networking Products
Chief Programmer, Networking Products
Consulting Scientist, Operating Systems and Networking Lab
Cyberlux CEO Mark Schmidt commented:
We are extremely excited and thankful to have Larson joining Cyberlux Corporation after an amazing 11 years of accomplishments in the Finance and Technology industries. With his knowledge and core intellectual property holdings across the big data analytics, machine learning and UAS-related fields, we now have the capability and technology power to truly create leadership in the UAS market, said Mr. Schmidt.
Through our acquisition of the CTMC Drone Solutions, LLC stealth works, Cyberlux has gained the core capabilities to create long-term competitive advantage in the UAS market space, where we expect the market size to more than double in the next five years from $27 billion in 2021 to $58 billion in 2026, with a CAGR of over 16%, Schmidt continued.
With Larsons executive leadership now within Cyberlux and the FlightEye Drone Solutions business unit, we will achieve our Operation Alpha objectives, and we already see new, significant milestones for Cyberlux Corporation. We believe our participation in the UAS market will propel Cyberlux to over $100 million in revenue in this fast-paced, rapidly growing UAS market space.
Cyberlux EVP and GM Larson J. Isely commented:
I am honored and excited to join Cyberlux Corporation as Executive Vice President and General Manager of the FlightEye Drone Solutions team. Going forward, we will harness the future of technology across the Cyberlux product platforms, and we have a rare opportunity to participate in an exciting, exponentially growing industry like UAS. While I have been outside Cyberlux for a number of years, I have continued to develop and create intellectual property and knowhow in core technology fields, all very relevant to both the FlightEye business and the core Cyberlux business.
Acquisition Structure
The recent acquisition of the stealth works CTMC Drone Solutions, LLC as the Cyberlux drone technology platform was a transaction of $2,275,000 in aggregate value. The transaction was comprised of shares of common stock, cashless warrants that execute at certain price targets, and cash payments over a three-year earnout period, with additional incentives for revenue growth levels and technology development milestones. Here is the structure:
Payout Price Point Aggregate Value
10 million shares at $0.02 $ 200,000 issuance of common stock
10 million shares at $0.05 $ 500,000 in warrants
13 million shares at $0.10 $ 1,300,000 in warrants
___________
33 million shares $ 2,000,000
Cash $ 275,000
—————–
$ 2,275,000
With this acquisition and Mr. Isely now leading FlightEye Drone Solutions, Cyberlux Corporation is positioned to build the future of UAS technology and create enormous growth in revenue and profit over the coming years. Further, Cyberlux Corporation has consolidated all existing related technology, all UAS products and all acquired technologies into the FlightEye Drone Solutions business unit, which will include all future acquisitions under consideration.
Cyberlux CEO Mark Schmidt commented:
With my experience in working with Larson to bring technology solutions to market with partners like Cree, Boeing and our DoD customers, I know Cyberlux has an immediate competitive advantage that only comes from years of working together and succeeding with difficult projects like the original Boeing Secure Border Initiative lighting solution, where Larson led the technology development and product engineering. Now we can turn that same focus and execution on the FlightEye Drone Solutions business, said Schmidt.
Introducing the FlightGDN Technology Platform
With the recently acquired technologies, FlightEye Drone Solutions has accelerated development of a core UAS technology platform, including the completion of important technical milestones, to encapsulate both UAS product offerings and scalable service offerings. Today, Cyberlux is introducing FlightGDN, a global UAS capabilities framework to harness the future of UAS capabilities. FlightGDN is a proprietary technology platform to support compact, next-generation military-grade UAS products and UAS solution packages. Encompassing both proprietary Cyberlux and third-party technologies, including LED lighting, infrared night vision capability, thermal sensor technology, eye-in-the-sky monitoring capabilities, LiDAR mapping and advanced VR/AR perception technologies, the FlightGDN platform will provide a seamless, scalable UAS solution for both military and commercial UAS command and control operations.
In delivering FlightGDN products, Cree LED will be the Cyberlux strategic LED supply partner. Having worked jointly on numerous development projects and advanced lighting technologies, Cree LED continues to be the technology leader in the white LED space. Further, Wolfspeed, a Cree company, is now the Cyberlux strategic supply partner for UAS radios including 5G, and inverters for solar and wind renewable product applications.As the technology leader, Wolfspeed inverters provide industry-leading efficiency inherent to the underlying semiconductor material, resulting in more energy generation from the wind or solar generation products, and greater radio energy-efficiency for UAS communications.
Cyberlux EVP and GM of FlightEye Drone Solutions Larson Isely stated:
The FlightGDN technology platform is an important and significant step forward in launching our UAS business. I look forward to working with my counterparts at Cree LED and Wolfspeed to develop new and profitable capabilities in the UAS and renewable energy product spaces. We believe that between the DoD and commercial opportunities, FlightEye will generate at least $1 million in revenue this year, $5 million to $15 million in 2022, and have unlimited growth potential beyond then, with well over $50 million expected in 2023.
FlightEye Drone Solutions is focused on existing Department of Defense (DoD) requirements and existing Broad Area Announcement (BAA) research and development opportunities, including geofencing capabilities, observe and monitor alert systems, collision avoidance capabilities, beyond-line-of-sight operations, urban area operations, operating system support for multiple drone operation and traffic management, and other critical priorities such as weight optimization and energy efficiency.
Cyberlux Corporation is actively pursuing partnerships with UAS technology companies and drone service providers. Moving forward, Cyberlux is harnessing the future through fundamental organic growth, through acquisitions and joint ventures, and through the commercialization of future technology developments.
About Cyberlux Corporation
Cyberlux Corporation (OTC Bulletin Board: CYBL), a leader in solid-state lighting innovation, has developed breakthrough LED lighting, energy efficiency technology and active technology capabilities, with solutions available today in U.S. government agencies, commercial markets and international opportunities. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Cyberlux Corporation