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DRONES, DEFENSE, AND THE ROAD AHEAD | MOBILICOM CEO OREN ELKAYAM
Recorded: Feb. 2, 2026 Duration: 1:09:10Space Recording
Short Summary
Mobilicom is making waves in the drone sector with a new project launch and strategic partnerships, while Burna Technologies gears up for a potential capital raise ahead of its earnings report. The conversation also highlights the growing trend of drone delivery services, with major players ramping up investments in this innovative technology.
Full Transcription
Thank you. What is up? Happy Monday. How's everyone doing? Welcome in. Small cap investing show,
trading all the above here on Wolf Financial. Happy Monday. Happy first day of February.
Hope you're doing well. Hope the markets treated you well, especially during January. Hope you're
off to a good start of the year.
And we've got a good show for you.
As always here, a great crew coming up here on stage.
You see most of them sliding in here.
Make sure you give them a follow.
Check them out as the conversation goes on.
First half hour today, we'll be talking markets,
individual themes, catalysts, some individual picks and stuff.
And then we'll have a good interview interview CEO coming on here in the after. So more about that. I think we're talking about
some drones. So a hot sector, a lot to talk about there. So want to definitely get to that,
but we're going to make sure we get everyone in, in this first portion of the space, first half
hour or so. So let's dive into it.
Ben, I'm going to send you co-host, and I'll have you take it away for us, sir.
Okay, great.
Yeah, I don't want to spend too much time on macro because there's a few stocks I want to get to.
Obviously, it's obvious what's going on here, you know, since Friday with Kevin Wersh and kind of gold and silver and these assets kind of repricing.
And I'm pleasantly surprised with IWM today.
I thought IWM would actually be under a little bit of pressure and we'd see this rotation into big caps continue for a bit since the Kevin Wersh appointment.
But we're not seeing that
today and pleasantly surprised at some of the price action and some of my picks today. So,
you know, I'm just rolling with it. I'm kind of, you know, I was in yellow alert here this morning
because of Kevin Wersh and possible continuation of that trade for a bit. But some of my favorite stocks and biggest swing positions doing well this morning.
So yeah, I'm just going to roll with that and actually add it to some of my positions
today on the growth of strength.
So that's it.
That's my macro comments.
I don't have much to say.
Just anxious to get into some individual stocks.
And we are talking drones on the second half.
And one of the stocks I'm going to mention is a drone stock here on the other side.
You know, when we come back and talk about specific stocks.
Yeah, sounds good.
I appreciate that.
We'll go to everyone and kind of get a little, you know, three to five minute little macro piece maybe.
And then we'll get into a little bit more of the picks and stuff. It is interesting.
Maybe, maybe less than maybe less, maybe two only have 26 minutes left. Okay. Perfect. Let's do two
minutes then. I'll do a little two minute. I'm not going to run a timer on you, but let's just be
mindful on that side of things. Let me go over to, to my manop. Laptop, big picture.
Any macro thoughts here?
Obviously, you heard the mention of the new Fed chair appointee.
That's still to be confirmed.
Obviously, there was a headline while ago.
I don't know if you guys saw it, but BLS is pushing back the jobs report on Friday,
so we won't get that on Friday.
A lot of other data and a ton of earnings going on right now.
Laptop, what's your take on the big picture?
Yeah. So what I see right now is, again, this nervousness of investors of
this war should really fit in with the market and what's going to happen but you know we're seeing
investors being very resilient traders once they get through a particular piece of negative news
you know everyone's buying the dip and you know that's something a trend that i see with trump
here all the time with this administration is yeah yeah, whenever there's a chunk of bad news,
there's a significant downward move, but it's a great opportunity.
So my philosophy right now has been go to cash almost every day and absolutely 100% on Fridays.
So that's what I have right now for you. I'll give that back to you.
Beautiful.
Appreciate you being respectful of the time there.
Ariel, what's going on in your world?
Any concerns with the market?
Any updates, change of thoughts or opinions?
We're still waiting on maybe some more information.
Yeah, good question there.
Yeah, it's kind of like I feel like this week is almost like a sit on your hands week. I'm not comfortable initiating any new positions, except for maybe the typical stuff you hear about, which is low float, small cap companies that typically do well when any kind of good news comes around.
I could mention a couple of tickers, but I'm looking at WATT as an example.
I'm trying to capture the theme of continuation of AI infrastructure.
That move is obviously here to stay.
So the macro stuff that I'm looking at, that the government shutdown is the same quagmire,
same annoying mess that we typically see in politics today.
So there's not much going on there.
I'm looking at the numbers that are coming in.
So far, 79% of the S&P 500 companies have reported exceeding expectations. That's interesting. I'm seeing expansion ISM manufacturing for the first time in two years to 52.6. Moe is very careful about that, but it just tells me that, you know, as much as the markets went parabolic, you know, now we're digesting these types of returns that we've experienced last year.
And usually it's a weak period, you know, this period.
Remember last year we sold off for obvious reasons.
So I'm just being extra careful and picking and choosing my spots with respect to some of the tickers I mentioned.
Of course, I still like my USAR as well.
So that's my take real quick.
Appreciate the quick rundown there.
Dougie Fresh, let's go over to you
and round out maybe some of the bigger picture thoughts here,
and then we'll get down a little bit more granular.
Yeah, we have an interesting looking market, I must say.
IWM, they're all bouncing back today. All our indices looking pretty good at the moment. I don't really know, though. Do they really look that great going forward till tomorrow? It's just so crazy. Again, you got this crazy reaction to the new Fed chair. Have a lot of earnings coming up, too. Started kicking off earnings, so maybe they will get the market back on track here with Bitcoin with that big dip this weekend.
It looks like it's trying to rebound right now.
It is kind of an odd week.
And I think we then we were saying last week at the end of the week, we were just unsure of the market.
It had that weird feel, that weird look.
And I guess that's what it was because it did dip down pretty hard there.
And now it looks like it wants to rebound.
I don't know how ready it is.
Like if it's just going to pop off tomorrow, it's obviously popping today.
And we'll see if the continuation goes. But it is setting up.
I mean, it does look pretty good long term to continue to run up.
So just watch for any dip opportunities because they seem to be great.
All these dip opportunities seem to be excellent opportunities.
opportunities seem to be excellent opportunities. And that's what I see in the market.
And that's what I see in the market.
I'm going to jump in there and just mention, it was more than just a weird look. The reason I
went to the yellow alert last week was because of those, I think it was on Wednesday or Thursday,
when we saw the parabolic moves in gold and silver, that just really, really concerned me.
And that's when I flipped the yellow alert. I'm like something something's about to break yeah and that's what happened yeah
and then copper joined it and then the next day it broke and we started getting
margin calls probably in the whole precious metals which carried over into
the rest of the market and then exacerbated by the Kevin worse so for me
it was like a very specific thing I saw that made me
nervous. But let me ask you, Ariel, before we now go into individual stocks, you mentioned
USAR. So I was not swinging this when the news came out, and I've had a very hard time
trading it since the government took the stake. It's been an unusual price action
compared to other cases where the government took a stake in a stock. If you go look at it,
whether it was MP or Intel, a few others, but pretty much they were all buying opportunities
on the pop and it just kept running. This one's been very difficult. I know we had that news on
Rare Earths last week, a little bit of negative news, but then we had positive news this morning.
I'm curious your take here at $22.50 and this less than ideal price action since the news,
what your thesis is on here and kind of what you're expecting price-wise in your future.
Yeah, I know. It's a name that a lot of people
own, right? So obviously, a lot of people are really tuning into that one. I think what happened
here wasn't the same deal that MP did, if you look at it carefully. And it also tells you that
the Trump administration is not just throwing money around blindly. They're looking at valuations,
they're taking dilution, and it's not as good of a deal as
most people were hoping for for USAR.
So, you know, like then they say, oh, wait, is that more dilution?
Like, what is this?
You know, like that's, I think the initial response, this wasn't as lucrative as an
MP deal.
That said, you know, what I do like about these stories is that when you see a run in
general from such a low point, you point, if you look a year back,
obviously it's ancient history, but we're coming off prices that were just needed to be kind of
just regurgitated here at these levels. And remember, it went to 40 and then just the blow
off top happened. And then here we go back on its way up. I just feel like this is a slow grind
that people just need to see the numbers
come through for the company. That's why I like USAR. It's not just some play where, oh, I have
all this rare earths in the ground. And then eventually in 2050, I'm going to take it out.
And it's worth $5 trillion. I hate that stuff. I mean, obviously there's a play for it, but here
they actually are generating revenue today. And that's what I like to see.
And that reminds people like, oh, wait, if you put more and more money in it, there's
going to start, they're starting to, when I say start generating revenue today, I mean,
we're talking about within the next, you know, a couple of quarters here.
And that's much, much farther ahead than what you see with other situations.
So I'm happy to have this as a long-term hold
strategy here versus some of the other names like CRML and, you know, AREC. I look at all those
names and I'm like, well, you know, I may play it for the runoff. I may play it for, you know,
quick spike and sell it. So this one is why I like it so much is because of that longer term hold,
period. Got it. Got to appreciate it on that. All right, I'm going to jump right into it.
Did we miss anything else, Ryan or Imp? What are we calling you these days?
Yeah, you're just answering whatever at this point. I do think, I think everyone got in unless,
I mean, I know my man Rhett's hanging out over there waiting for this great interview.
Unless Rhett's got a take that he wants to throw in, I think we can jump into kind of the next thought process here.
Yeah, so yeah, let's talk about a couple specific stocks.
So we are doing an interview on the second half of the show here on a small cap drone stock, MLB.
And I've been very interested and we've been on top of those small cap drone names from the very very beginning and it's been very very lucrative for a community and one of
them which made a top five pick this morning for community was ONDS on this holding so
we had this on watch Friday for entry at the 50 DMA right around $ So the 50 DMA is $100.09. It reached $10.15.
It did tag the 50 DMA early, early in the morning.
But there's a few things here going on that, you know,
I really like the timing of this right now.
First of all, you see it's pulled back from like $15 all the way to $10.
So that's a big retrace.
But they did a $1 billion offering, which is obviously huge
and a lot of dilution.
But this company has been growing like super fast via acquisition.
And typically over the past year when they did an acquisition, you had a bad initial
reaction because of that's usually what happens because of dilution.
Usually that's the immediate reaction when a stock is a company's own acquisition.
And then the next day or two days later, it just exploded.
And then they go in and they update their guidance, and people look at the bullish side of the deal, etc., etc.
That's been the pattern.
But here now, they've done the dilution ahead of time.
So $1 billion cash, in addition to what they had before, which I don't know exactly what it was, but that's quite a war chest.
And they told you explicitly, you know, they have a big pipeline of acquisitions, about seven of them in advanced talks.
And one acquisition was announced this morning.
And I expect more acquisitions to be announced.
So the difference here is the dilution already happened.
So a billion dollars sitting on the balance sheet doing nothing, not getting a multiple.
So I think as these acquisitions get announced, they'll immediately be seen as a market as a positive catalyst rather than, oh, there's going to be dilution.
Again, dilution happened.
And now when you do an acquisition, you can start getting a multiple on whatever revenue that's going to be coming in from the acquisition.
Now, the one this morning, I don't think the terms are disclosed.
It appears like it might be a small acquisition,
but there's probably going to be at least two more over the next week or two.
So you have that catalyst timed with this 50 DMA bounce here this morning,
plus there's going to be another catalyst tomorrow at the Singapore Air Show.
They're going to be, oops, let me just get my Benzing and newsfeed working over here.
So at the Singapore Air Show starting tomorrow, they're going to launch their defense and
security offering company to unveil its rebranding and offering for defense and security markets, a 2026 roadmap and offering for an autonomous system of combat proven yada yada.
OK, it goes on and on. So I think we're not going to be that dilution concern that's already passed. time mob on the other side which as far as i can tell from the conversation we had this with the
ceo recently i don't know if i remember if it was on this show i don't remember or if it was a
youtube interview but um it sounds like mob mob mobility has been approached by at least one suitor
wouldn't be surprised if onds was one of them but they're not really interested in selling right now
anyway um so i'll stop there if have time, there's a couple other stocks
I'd love to mention, but let's see if we can go quickly around.
Can I just ask one quick follow-up just on the drone sector in general? Overall thoughts,
like, is this like a bullish thematic? Is it ahead of itself? I mean, just where it's at today?
Obviously, I think most people are
looking at this technology and the expansion of it from now through the next foreseeable future
but is it ahead of itself is it consolidating or just maybe the big picture there on drones right
now um i i don't obviously individual stocks can get ahead of themselves but as a sector
uh i think we're just at the beginning um Drones and defense, or it's called Defense Tech, was one of my five hot themes of the year.
And in that bucket, I had AVAB as the number one pick, followed by AMPX, which is up 6% today, a battery company for drones.
And as a group, they're up 24% this year out of the 1, 2, 3, 4, 5, 6, 7 picks I had
in the drone sector. I think it's really early. I mean, this is a major, major shift in terms of
military technology and how wars are going to be fought. Like, we're just on the cusp of this,
man. You know, it's going to look really different 10, 15 years from now. And a lot of these drones are,
they're going to have to be constantly replaced. A lot of them are probably going to be like
suicide drones and stuff. I don't know. So in any case, yeah, I think we're at the very beginning.
Yeah, that makes perfect sense. I appreciate you giving those thoughts there. And maybe I'll toss that same question here in about 20 minutes or 15 minutes or so when we get into the next discussion. Appreciate that, Ben. Laptop, we're going to go over to you next and see maybe some individual names, sectors, themes that you're looking at here as we start February.
start February. Hey, so I've been really bullish on copper and silver, and I turned very bearish
several days ago. So my continuing theme has been power. And so I believe that there's a lot
of opportunities in the energy sector. Still a big fan of nuclear, rare earth minerals.
These are all going to be things that are needed
for this future development of AI and stuff.
So one company I'm looking at right now
is the only one I have for today
because my signals are flaming red right now.
Very cautious.
So I'm not willing to share my cash with the market today.
So Evolution Petroleum Corporation, EPM.
So this is a small cap independent energy company, and it's out of Houston.
It really does a lot.
It has ownership and investment in onshore oil
and natural gas properties across the U.S.
So it's been around for about 20 years.
The ticker signal is EPM, ECHO, Peter, and Mary.
And its business model is where it partners with established operators,
like think of large-scale firms handling the fieldwork.
And for their revenue, it comes from the production and sale of crude oil.
If you look at the chart, it has been down a little bit,
but I think that we have a huge potential to turn right here if we
look at sorry I should have that up so if we look at we're seeing that really
towards just the beginning of the year this made a big reversal and we've
already crossed through the the 20 and 50, approaching the 200-day moving average.
Selling about $397 today.
We hit a low of $319 at the end of the year.
But I think there's a lot of upside for this.
I'm very bullish on oils in general.
If you're looking at large cap, Chevron and Exxon are my big plays there.
But I definitely think energy is one of the keys,
and we know that the administration loves oil.
Drill, baby, drill means something, and I'm still bullish on that.
As a secondary play to that, I'm also very bullish on all the different services that go with that,
especially with oil tankers. So that's where I am today. Thanks.
Appreciate that. Sorry if you can hear children in the background. For me today, it's a holiday,
so kids are at home and one or the other finds a way to make someone cry. So I apologize for that,
but hopefully the noise canceling is working just a little bit here. Either way, I appreciate that
laptop. Ariel, thematic-wise, anything, or I guess actually, I keep forgetting that you can actually talk about individual tickers and stuff now.
So I'm actually excited.
Anything that's on your radar or any follow-ups from something that you mentioned maybe the last couple weeks?
Yeah.
Yeah, it's pretty exciting to be buy-side, right?
I've been doing banking for 20-plus years, so it's nice to know what these companies have in store.
Whenever you see a
financing in a deal, I kind of have a really good understanding of the dilution there.
And I do appreciate the comments made on Ondas because that was a name that I liked a lot.
I do appreciate when companies raise money and I could now understand what I'm getting myself into
with respect to dilution that's ahead of me. I do think that that deal still needed to be kind of
chewed through with respect to the amount of
shares that are coming onto the market and whatnot. But I do like Ondaatis as well. It's one of those
most talked about stocks there is. Sometimes, yeah, I do wonder if the trade is crowded,
but it does take that visibility for it to see it go higher. Another name that I mentioned last
week was Aton. When I mention these names, you have to be very careful.
I love going high risk, high reward.
That's just the way I roll.
But I don't, I think anyone could get blown out of the water if you're not careful.
This one's not an option, you know, but it acts like one.
And Aton, no one really understands it, right?
Because it's a recent reverse mergers.
I love those because people just don't know what they see here. Biosig was the last healthcare biotech company that they reversed into,
turned it into an AI infrastructure play by way of buying GPUs from NVIDIA. And now they are
plugging and playing, and now they're getting paid somewhere between $4 to $6 an hour.
They have about 576 chips. If you start looking at that numbers, the numbers are small, but they matter.
Looking at somewhere around between 1.2 to 1.5 in revenue per month with 50% margins,
and now you start asking yourself how many shares are outstanding, and you do your homework
and you see about 20-ish million shares at $0.70, you put all that together and you're
seeing a 5x return here this year.
So that's where I'm kind
of really excited to see companies like that. I'm doing a lot more homework than ever. So Eitan to
me is a very nice core position of mine. They also are backing the compute that necessary from
Telegram's Cocoon, which is a recent AI initiative that telegram launched and they're the ones powering
that that ai initiative which is called cocoon you guys should look it up um so so there's a
couple cool things there and then w att i've been focusing on that the last couple of days
that's a company that did wireless charging uh for your phones and they had all kinds of problems
all kinds of issues uh They're worried about,
you know, like they didn't get their act together forever until recently. And now the company got
re-rated. They had to reverse it. And now they only have 2 million shares out. Why I like it so
much? Again, the future is what? It's those autonomously run robotic systems and, you know,
Amazons of the world, Walm walmarts well there are all these sensors
that how are you going to charge and you know and and this is what could be the perfect solution for
all of that so this thing has unbelievable potential you guys should look into it before
buying it of course due to due diligence but this is one i like and i'm accumulating and then of
course uh you know usar we've talked about that i'm a fan of that one. If you guys do look at Q1, they are expecting to start generating some revenue with obviously the biggest revs in 2028. But that's, in my opinion, sooner than a lot of these other players out in the game. So those are my, so far, my initial kind of focus points here.
kind of focus points here. Beautiful. Appreciate that. If you're in the audience, first off,
hope you are taking some notes, maybe getting some ideas out of this. Obviously, please do your own
due diligence. I'm sure everyone up here agrees with me. We're not recommending that you jump
into anything or do anything, but as a launch point, an idea point
for your own trades or investments, make sure you do remember no financial advice here, but
a great thing to do. This is what I do. I sit here, I take notes, I mark down charts. I kind
of look up a little bullet points. I say I take notes, I type them on my little notepad on my
computer. So I'm not physically writing, but maybe some of you are, but either way, that's,
that's what I would do.
Also, I would follow all these great speakers
up here. Taj, saw your hand go up.
Let's go over to you next.
Yeah, just
great discussion so far. Just a quick
question to throw out to the guys on the panel.
How do you feel about some of
these small nuclear plays,
like these modular reactors and portable
reactors? There's a lot of companies that are doing different things that are, you know, most of them are actually like pre-revenue.
They're still trying to get a commercially viable product.
But do you look in that area?
Because I know energies came up.
So, you know, just some thoughts on those because there's a lot of small caps with that.
I mean, the ones are you talking about nuclear and KLR?
There's, you know, the big ones, SMR and Oclo.
Look, I think these are all you trade them on sentiment
because it's way, way early in terms of revenue.
We're doing years and years away.
So I do trade them.
But for me, it's just sentiment and technicals,
and I haven't been holding them long term.
That's my quick take on it.
Laptop, you got some thoughts on that?
Yeah, I totally agree with Ben on that.
Companies that I have really liked before, of course,
my top play in that is CCJ, Camco.
But I've been in NNE, Nanonuclear, SMR, Oclo, and Lightbridge since the very, what I would say near the beginning was like the end of summer 2024.
And yeah, when they're hot, they're really hot and play it, but don't fall in love with them.
Like Ben says, we are pre-revenue on all of these.
So, but definitely we're going to see energy as a major, major area sector that's going to grow with everything else that the administration has planned, that U.S. corporations have planned. And, you know, Trump has come out more than once and said,
just build your energy, your power supply, your electrical supply next door to your structures and whatever.
So these play into that perfectly.
So do like the plays long term, short term.
They're just trades.
Back to you.
I appreciate the answer.
Yeah, it was NNE that I was looking at and trying to research
and go down that rabbit hole.
I threw out that question, by the way.
So, yeah, really appreciate that.
All right, we're a little tight on time.
There was one other thought I want to get to,
but we didn't hear from Dougie Fresh.
Real quick, if there's one or two quick tickers you want to mention.
Yeah, I'm just looking at AMC looks really good.
Obviously, with GameStop, you might see a little meme stock run.
And JetBlue looks pretty good right now, JBLU.
So just check out them, too.
And then I want to hear what you have, Ben.
So right there.
Okay.
I do want to mention before we get to the next segment,
because it's been a very lucrative stock for us here in the small cap
community in 2025 is Burna Technologies, B-Y-R-N.
And if you look at the chart, it doesn't look like anything special because
it's given back all its games, but we've timed this so well,
so many times.
And I remember specifically on one of the small cap shows, I think it was The Godfather on a Monday show,
just kind of reminded me, hey, we got earnings this week.
And it wasn't even on my radar.
So that week when we had a ton of money on Berna, and it's been almost every quarter,
either the run-up into earnings or the earnings reaction, we've just nailed this.
And here's another opportunity.
Again, it's ticker symbol BYRN. This thing has just been punished like insane levels. we've just nailed this and here's another opportunity again a sticker symbol byrn this
thing has just been punished like insane levels and even though they've pre-announced revenue
and the revenue pre-announcement was good it was a little bit better than expectations
and now you're at a point where you're a technical support you can see that double support here from
april 3rd and the fundamentals are just much better, much cheaper in terms of P.E. ratio, price to sales
ratio, much better than it's been any time in the last couple of years. It's just been taking a hit
because their growth rate on the top line has slowed down a little bit, but it's been within
company guidance and company expectations. And now they have the opportunity if they beat EPS
on Thursday, which I think they very well could because they've rolled out higher margin
products, you can see this thing explode off of this really oversold position. So I'm in
it and give it to our Discord this morning as an event anticipation run. Typically what
I do with those is I'll get in a couple days before earnings,
hopefully get that run right before the report, then you're able to take some profits on at least half of the position,
maybe take a small position in the earnings report and then react to how the earnings report is.
But this thing just fundamentally, technically, is really set up.
So I'm looking forward to that earnings report on BYRN on Thursday morning.
Just want to give everyone a heads up on that.
All right.
I know we have Oren joining us.
I think he's down in the audience.
You go ahead and accept that speaker request.
Jump up here on stage. We'll jump into it here shortly. Excited for this next piece of
conversation. Ben, any other pieces that you want to hit on? I know we have maybe an extra
moment of time here as we get Oren connected for the next conversation. But I'm just curious,
you went really short on your macro thoughts, maybe.
I don't know if, do you think, hey, week or two,
we get a lot more information in the market,
we figure things out.
Oh, there's Oren, either way.
Look, I think it's a stock pickers market.
That's my final thought.
I put this in the macro this morning.
I think there's a stock pickers market. That's my final thought. I put this in the macro this morning. You know, I think there's a lot of opportunities.
And, you know, we've had this big run here in January and obviously in 2025.
And I think there's plenty of opportunities left.
But I think it's going to pay to be a little bit more selective starting from now.
starting from now, you know, let's say the first half of 2026 after January,
You know, let's say the first half of 2026 after January.
be more selective about, you know, looking at fundamental valuation
and not just buying everything because it's in a thematic bucket.
I think that will serve you well here in the first half of 2026.
Awesome. I see Oren just jumped up here with us.
Mobilicom, I'm excited for this drones topic.
It's a hot topic.
All the spaces and streams that I'm around,
everybody's asking about what's going on.
I asked Ben a question a little bit earlier
and excited to kind of focus on that this back half hour.
So, Oren, great to have you up here.
I would love for you to go ahead and jump in, give us a quick introduction of yourself at Mobilicom and
then we'll jump into the discussion a little bit.
Hi, thank you for having me. It's a pleasure from the sunny California that we have today.
My name is Oren Alkayam, as you mentioned, I'm the CEO and co-founder of Mobilicom. Mobilicom is in the business of creating the most important building blocks of IP and technology into drones and robots.
We are providing the critical elements that allow them to operate, allow them to communicate,
allow them to safeguard themselves against different cyber items. So we are providing the heart and soul of drones and robots, mainly for defense and
industrial solutions.
And we focus on the small size drones and robots, which we see a huge ramp up in their
different programs of record and investment around that through the US government, European
government and elsewhere.
We have numerous products.
So we are a one-stop shop, multi-solution provider
of software, hardware, and cybersecurity.
And we have tier one blue chip companies working with us,
embedding our solution, including the DOD of the United
States and the Minister of Defense of Israel and such like.
Beautiful. And before we jump into it any further, I do want to say just full disclosure, this is a paid portion sponsored space.
So full disclosure, this is not a recommendation to buy or sell anything.
to buy or sell anything.
We are talking about a publicly traded company here.
We are talking about a publicly traded company here.
Please do your own due diligence.
MobiliCom trades under the ticker MOB.
Excited to have Oren on here with us.
Ben, anything that you want to mention
before we dive in any further?
Yeah, I'm glad he made that disclosure.
And I do own some shares of MobiliCom for full disclosure.
We've spoken to Oren before.
I don't know, maybe he was on this basis several months ago,
but there's been so many updates.
And I'm excited to get an update in terms of contracts
that can really increase revenue and get you guys to profitability.
So we'll get that update in just one second.
But first, I just want to get something out of the way here, because there was some concern on social
media we've been seeing going around, and I want to get your feedback on it regarding the ATM
and how that's been utilized thus far, and any insider sales that may be going on. I've seen
some criticism recently, and love to get your response to that, Oren, first.
So let's discuss the ATM. Yeah, I got a lot of messaging telling me that so-called market
experts in technical analysis have expressed that Mobilicom is utilizing the ATM and therefore
there is a lot of volume in the share and this is the reason that the share dropped.
The pure fact is they may be an expert,
but we didn't use any of the ATM.
And the ATM that was created last year,
we didn't use it even not for a dollar.
We don't intend, as we said in the past,
and there was an interview that we have done on November when we summarized the Q3 and we had a webinar with investors.
And we said that we don't intend to take any form of funding, not ATM or anything else, in those very low levels.
And based on the fact that Mobilicom has a very, very strong cash position, there is no need to do so.
So we finished Q3 with $17 million cash in hand,
something like that.
We will finish the Q4 at the end of year
that was finished with more cash in hand
based on different warrants that bring exercise
and revenue that received from customers.
Our burn rate is under $300,000 a month for the last year in average,
which is less than $3.5 million a year.
So that means that we have about five years with the current funding,
and we don't intend to use the five years because we intend to move to cash flow positive before that.
Giving all those facts, we didn't use the ATM,
and there is no good reason
to use that or any other form of funding and i hope that that's behind us and when we say something
we mean it and we explicitly say uh that on the atm and funding in the past and so that's still true
that's great that's great did we want to touch also on any insider sales that may have been
happening or not yes so everything that is the insider sales related is public and and was
disclosed obviously I would like to mention the following there was a 10B5 worker plan that was crafted in the summer
of last year when the share price was around $3. And they are managing any of those sales.
It's not something that we control or sell by ourselves. Almost majority of that sales
was done in order to sell to cover. For example, meaning that you have to pay the taxes in
the case that you are getting RSUs, for example. Since we hit some significant milestone in the share price and performance
and milestones were achieved, the insiders received, including myself,
RSUs, which according to the US rules, you automatically have to pay taxes,
have to pay taxes and that's what's the majority of the funding going for and the important issue
and that was the majority of the funding going for.
is that as an update that I received from the managers of this 10b5 program the current sales
for the current plan was finished and done so any pressure or activity based on that is done
and that's important update to the market as well.
Great.
You know, I forgot to mention, Amp, you asked me at the beginning,
just the housekeeping.
On this panel here, we have the other Story Trading account,
Story Trading IR.
So that's one of the signs that, you know, this is a sponsored space. So I encourage anyone for the companies that we do interview the CEOs,
you know, we're also putting out news when there's news and occasional educational updates.
So if you want to be on top of that, also we'll put out like mini versions of interviews, like little highlight reels and stuff.
So if you want access to all that, make sure to follow that account.
I read it behind it right now.
So StoryChain Spotlight right at the top where it goes. Make sure to follow that account. Ritz behind it right now says StoryChain Spotlight right at the top where AC goes. Make sure to follow
that account. And before
we move on with anything, did you have any
questions or follow-up on
just getting that out of the way, ATM, Insider,
Sales, or anyone on the panel have any
further comments or questions on that?
On that
specific issue or
other questions? No, no, no. Just on that specific issue. Wanted to get no just on that specific issue once i get the
any baggage out of the way right at the top of the show before we get into the fun stuff
i see that there were more questions on are we holding significant portion so i can update that
the insiders are holding more than 15 of the company as of now
okay got it uh and you got anything for us i'm i'm all good on that subject over here i love
that we're tackling it on the front end of the space well Well done. OK, great. So let's move into material things.
After we got over that, what do you call it?
Fear, uncertainty, and doubt, right?
We got over that.
So as I understand, Oren, there's been, you know,
it's a little bit tricky regarding these program of records
that your customers are winning.
I understand in terms of being able to name the customers or PR what you're winning, but you've been helpful
trying to navigate through that with us on the interviews.
But it looks like some significant things have happened for you recently.
So as much as you can tell us, it'd be great in terms of what has been won for your customers
and how that impacts your revenue trajectory
and your path to profitability here in 2026.
We'd love to hear as much as you can tell us.
Yes, definitely.
So meeting the requirements of our blue chip companies
for confidentiality and what they are allowing us to share.
We said in the past that 2026,
we aim for winning, that our partners will win with us
one or two programs of record.
I can share that one of them was already inked and closed
at the beginning of this year.
It was a fundamental program of record
for loitering munition, kamikaze drones.
So it means that automatically as you use them, you have to buy new ones.
That was a big program of the Marines in the United States that was allocated.
And there were one of the partners received more significant sum and the other second sum.
more significant some and the other second some that said mobilicom is working with the
the tier one player that won this program and and was allocated first purchases why it's important
for mobilicom first it's guarantee that as United States is scaling its production and delivering,
we'd like to deliver masses of small-sized drones,
Mobilicom is in those programs as was chosen a solution inside those programs
and delivering based on those programs.
Second, it guarantees more than five years or at least five years and then extensions of ongoing procurements that will come to the tier one partner and therefore to Mobilicom of ongoing sales.
And we have our secure data link solutions over there, the Skyhopper family.
And we have the ICE, the electronic wall for resistance and cybersecurity of the Datalink software, which are two segments that we are providing under this program.
And that's a great emphasis because if, let's say, a month or two ago, it was Mobilicom is hoping and doing all of those milestones to achieve it.
Now it's done.
Mobilicom is already inside and guaranteed this portion of the business, which is very sticky for many years forward.
We do anticipate that based on the fact that U.S. is expanding and there is ambitious plan to do 10 times or even 20 times the volume in the United States,
that will impact this program and other programs.
And that will have even more significant impacts on the mobilicom deliveries over the coming years so that's a great great great news for our investors
we also see that additional programs are most likely being allocated to the same vendors and
that's important progress that we've done on the program of record. There are more programs of record by our partners that are targeting either European and US large
quantities programs for many years and we will update them because we are making progress on
those as well. And Oren, can you quantify or directionally, just qualitatively tell us how this impacts your revenue trajectory for 2026 and what your timing looks like in terms of flipping to profitability?
What we can share right now is that this tier one, for example,
in the United States is building their production capability
in order to scale and meet the requirements of the program.
There is a request to the production start
has started in January, I mean now,
and they intend to scale their production from quarter to quarter,
which means that there are deliverables that we've done and deliveries that are going to be done over the year in order to meet those requirements and scale from as they are deploying more and more battalions in the U.S. Marine Corps in order to meet the requirements of the program, which means that we're going to scale our production
in order to meet that as well. What we said in the past is that our trajectory for cash flow positive
is roughly around $12 million a year, $3 million a quarter, which means that customers like that, that will produce thousands of units on a yearly base
can bring us easily to cashflow positive.
Okay.
So as I mentioned, 5,000 units of these systems
can bring us to anywhere between 15 to $20 million
in revenue, which is more than cashflow positive.
So even lower level can bring us to cash flow positive.
And we estimate that based on their progress
and the government progress on acceleration
under this program,
it could happen later this year
or first quarter of next year.
This is what we have indicated in the past.
Awesome. That's great to hear.
That's a big, big milestone, especially since it seems you can do that without needing more capital. Let me just see what your market cap's at now. Yeah, for micro cap companies, $76 million, flipping to profitability without needing capital. That'll be a major, major milestone for you if you can pull it off this year.
I'm gonna pause there to see if there's any feedback
from the panel here.
We'll start with him.
Maybe he took a break.
Laptop travel, Doug?
Yeah, I think he's got a little connection issue.
I was just chatting to him in the back.
But yeah, you can go to someone else.
Okay.
Who's that?
Ariel?
Who was just speaking?
All right.
So laptop looks like you just interviewed yourself.
Go for it.
Yeah.
I just had a question because Mobilicom is basically, as I understand,
it's an Israeli company incorporated in Australia,
but a large portion of revenues in the United States
are expected to continue.
What percentage do you anticipate going forward in 2026, 2027?
Do you expect to come from the U.S. market?
And do you see yourself, or how diversified do you expect to come from the U.S. market? And do you see yourself or how diversified do you
see the company going forward with other geographic mix, maybe particularly Europe or other markets?
So majority of the revenue of the company last year was coming from United States, and we anticipate that it will continue to happen definitely after the program of record and additional items that we didn't speak, but we can mention later on, will come from United States.
here under the American company.
Yes, you said that it's an Australian incorporated company
that has subsidiaries in the United States and in Israel.
I'm operating as a CEO from the U.S.
together with a larger team of business and marketing
and so forth and support.
So we are operating from here.
Our solutions are considered fully american solutions by the fact that we met we met
all the criteria testing validation and recommendation by the dod uh continuing from the
blue os select that we were chosen last year for the trusted cyber that we passed
the uh elements of uh of NDAA verification and validation.
And we also have been registered on the electromagnetic waveforms of the United States Army, the DD-1492.
So it's a pure American product by any factor.
And we also intend to invest into production into United States that will enable us to have 100% American solution to meet the guidelines that is expected by the government for 2027.
So all of that is guaranteeing our intention to win and increase the volume and revenue in United States.
the volume and revenue in the United States.
With regard to other markets, it's not a secret that we hired better and higher capable team members.
We took the VP sales and marketing of IAI, biggest company, Israel Aerospace Industry,
that was selling to Europe and elsewhere.
They are leading the Europe and Israel sales.
We have a larger team covering that.
There are numerous programs that are being done in Europe and Israel.
We are focused right now on them and we expect to win some of them.
European market, if you notice some of our partners,
other tier ones that we're working with,
like Rafael and others,
their biggest sales are in European market
and we are embedded in their load training solutions as well,
targeting the European market
and they've been deployments already over there
and we've done successful testing and validation
also in Ukraineraine so all
of that leads to the fact that europe is under a map and managed um from our team and there is
already paths for growth built over there uh in addition we do have additional sales i mean so
our focus first is united states europe and then Israel, which is exporting worldwide.
And that will continue to happen.
We do have great wins with UAE, with the biggest aerospace government-owned companies over there.
And we do have the same thing with Singapore from the biggest conglomerate in Asia-Pacific, SD engineering. So we do have wins over there, but the focus is US, Europe, Israel, and that's the majority
of the funding, the revenue will come from.
Thank you very much.
I appreciate it.
I'm sorry, I saw you on mute.
Oh, all good.
I just want to ask, I asked Ben this a little bit earlier,
but Orin, I'd love to hear your perspective
because a lot of people are looking at drones as the next technology
that it's here, but it seems like the adoption rate
is just coming in faster and faster.
I'm just curious, when you look at the overall,
where drones are going, what's coming next,
I feel like some people are worried maybe that
people are front-running the drone thematic a little bit,
but it doesn't seem like spending, for one,
is slowing down anywhere in the defense area.
And then drones just seem like it's the next dominant technology.
I'm just curious your thoughts on maybe the bigger picture of kind of the drone thematic as a whole.
So I'm a strong believer in the drone and autonomy solutions in general for robotics and elsewhere.
And definitely in the defense, we can see that given the wars that happened recently around the globe,
we understand that drones and robotics became the most important technology in the battlefield
that can change the battlefield dramatically.
are moving from high-end, very expensive platforms
to autonomous low-end platforms,
small drones in particular,
slaughtering or ISR intelligence surveillance one.
And the volumes are picking up.
We can see the production rates in Ukraine,
which is over 5 million of small drones in 2025 were produced.
We've seen Russia ramping up to 3 million.
We've seen China with massive capabilities of production in Shenzhen.
And therefore, United States is trying to close the gap
with multiple programs that were initiated by this government from the previous,
but also this government, Replicator 1, Replicator 2,
the 1 million drones per 2026, small drones that they want to have the fpv drones program that they want to have
procurement acceleration changes in the procurement and so forth so all of that lead to two things
one we anticipate that united states based on u.s plan and is right now producing low volumes of somewhere between
10 000 to 15 000 a year of small size drone i'm not counting the fpv okay which is even smaller
than that and united states wants to scale to levels of what we've seen in russia ukraine or
so forth and to do 1 million drones in 2026
and then half to 1 million every year then after,
which means that we are expecting to have a super cycle growth
into the drones and autonomy.
And in the cost of one F-35,
you can buy many thousand, 10,000, 20 twenty thousand of those small drones and scale
even further and that impact the battlefield with no risk for soldiers so we've seen that european
are also on a huge cycle of growth into the defense shifting from one percent gdp that was
invested five years ago or three years ago into defense from their economy
to four and some countries, 5% GDP, 500% increase,
which means that the volumes and value of the budgets that are being allocated for the next seven years is there.
So if you ask me in the defense side, you definitely see that the budgets
are here and here to stay for at least five years. And that will promote and progress the companies
that are in this field. There are not many companies around drones and robotics on the NASDAQ. There are some private ones, but a few public ones.
And therefore, I will pay attention to each one of them separately and make the decision. But I'm
very positive on that. On autonomy in general, I believe that you can see where Mobilicom is
positioned. Mobilicom is positioned on one hand,
delivering the critical IP and technology building block
to small drones, robotics.
So we are in that area.
We are providing the cybersecurity for autonomy
of those platforms, which is unique breakthrough solutions.
And obviously, it's under the defense tech.
So if you're looking under this triangle,
I'm a strong believer that this triangle will continue.
And therefore, we are focusing on that.
Cyber autonomy and drones and robotics
are all moving together,
I mean, separately and together and merging.
And we'll see more and more acceleration
as you have more autonomy,
you need more cybersecurity
as those platforms will manage themselves,
decide themselves,
and therefore they have to be
protecting themselves all the time.
And this is where I see the market evolving
and we'll see more and more robots
in every aspect of our life.
I do anticipate that in the coming year we will see some cam
um come back from the uh commercial or industrial drones that will pick start picking up again
and that will infill additional growth into this field this is my view and this is what i see
the only question is how fast we in the United States
would like to close the gap of production and ability to deliver and produce enough volume
to meet the demand. This is the barrier right now. How much can you produce?
I have a quick question. You're talking about the fence.
How about autonomous delivery?
What do you see that market being?
And do you think like companies like a UPS,
that would be something that they're going to be doing in the future
and something that Mobilicom could be getting into like that business as well?
So I would like to mention that a few years ago,
the expectation in the market in 2021 and 2022
were for big scalability in the delivery market.
There were the activity that were done by Amazon,
obviously, with their division of drone delivery.
There was the Walmart ambitions plan
that was carried by numerous service providers of drone delivery. There was the Walmart ambitions plan that was carried by numerous service providers
of drone delivery,
and that was carried.
UPS flies forward,
had their plans for even larger delivery quantities
and so forth.
So that was a very hectic times back then.
The financial hiccup and problem
that we experienced in 2022
forced and onward force all
those companies to focus on their um let's say core business and invest less in uh innovative
technologies that takes time to bring them to profitability but right now we can see again
that alphabet is deploying more and more sites for Walmart to have last mile delivery.
There is continuous effort and work done by Amazon, and we can see other cargo planes being created by drones to do such delivery.
on the ground, we see different robotic solution being used for also delivery that are getting
more and more traction. So I anticipate, as I mentioned, that drone delivery will pick up
definitely in the later part of 2026, 2027, and that with additional commercial market segments like inspection, utility, security,
will come back and contribute to the next wave of growth.
Where Mobilicom is playing in this market,
so I think that what Mobilicom is doing in particular in this market
is related to the secured autonomy and OS3,
the operating system for security, safety, and compliance. And over there, it's much needed because all of those platforms
operating by themselves, and many of them connected and wirelessly communicating are
exposed to big threats of cybersecurity, much as we've seen in other revolutions in the vehicle and other
revolution that experience cyber regulation uh and then they will have to deploy protection measures
mobilicom right now for the small size drones or robots uh is the only solution i've seen in
the market with a dynamic operating cyber security on the edge on the nvidia or qualcomm ai on the edge, on the NVIDIA or Qualcomm AI at the edge,
and for the cloud mastering and monitoring those fleets.
And this is exactly what we released to the market.
This is the vision of secured autonomy,
and we will have big leaps forward this year.
We already announced last year several partnerships
and locked some of the market with NVIDIA partners
and AI software partners, and we intend to continue with qualcomm partners this year and nvidia and soon you will
see additional uh partnership that we've done that embrace our cyber security for the edge ai
autonomy and that's part of the revolution that will be deployed both on the commercial
delivery and other segments as well
as in the defense in the defense i would like to mention there was a regulation that passed by the
government where the secretary of um defense of war stated uh late 2025 that there is a new standard
regulation that requires and mandates dynamic cybersecurity at the edge
to meet the new wave of attacks that we've seen on cyber,
and especially on deployment of elements in the field, in the edge.
And Mobilicom's OS3 solution that was released last year is meeting that requirement.
And actually, if I may say,
is the groundbreaking technology ahead of everything else
that I've seen over there in the market right now.
And that meets this standard.
I got one last question for myself,
running a little bit short on time,
but are there any near-term catalysts?
I know, you know, in December, I think it was, we were talking to you,
and, you know, you anticipated those program records
would be awarded by the government relatively shortly
after that conversation, and they were.
Are there any other program of records, do you think,
that will be awarded soon, or does current government shutdown we're in is that
going to slow that down so basically I want to get your thoughts on what could come in the very
near term if you're expecting anything any additional contract wins so the fact that we won for our partner programs of record and pass all the hurdles of deployment, testing, validation and approval by the U.S. Department 4 brought to us new tier one platforms that are right now, right now under integration. We expect to complete those new
tier ones, new platforms in the first half of 2026. And I believe that they could start
procure and make additional purchase orders in second half of 2026 for Mobilicon. And that
will increase our market share, diversify our amount of customers, tier one customers
in the United States, and give us a better path
to larger scalability, given that will be embedded
across multiple platforms of the several tier ones.
So that's something that we are focused on.
In addition to that, there are programs, as I mentioned,
in EMEA, Europe, Middle East, Africa,
that includes Europe and Israel, that we are targeting.
And we would like to win at least one of those two big opportunities that we are chasing over there.
Awesome. Good stuff. Emp, I'll turn it back over to you.
Awesome. Good stuff. Emp, I'll turn it back over to you.
Lauren, I really appreciate your time. One of the last things I always like to ask our guests that come on here, and thanks for coming on and sharing all your thoughts, giving us a little deep dive into everything with Mobilicom.
Just any upcoming events, roadmaps, anything that you can speak about that we should be paying attention to,
whether it's an event, presentations, anything like that,
that we need to keep on our radar.
I mean, events that we are doing,
or you mean events that will contribute to the growth of the company?
Just anything in general, like upcoming news, events, conferences,
anything like that, that maybe we should have on our radar for you guys?
So Mobilicom is super active across the entire industry, definitely in defense in the United States. And we have more than seven shows and exhibitions this year and many other events.
For example, we are sponsoring the Army Loitering Munition conference
and a program in the Army in Alabama in a month from now.
So this is one of the events, and there
is many others that we are doing.
In addition to that, I think the biggest events that
are happening is watch and see for the next publication
that we will make on the cybersecurity
for autonomy of drones being embedded in additional
tier one players of Qualcomm and NVIDIA. Some things will be released, I believe, in the coming
months or two. In addition to that, we intend to make publish when we are able the additional tier
one platforms that we are integrating into as soon as they will be finished, probably end of Q1,
beginning of Q2, you will see some of them. And those are bigger, biggest elements for momentum
because that will build the additional growth and additional market share of Mobilicom in United
States, which is our biggest targeted market. And that's what we are expecting.
In addition to continuous delivery to the program of record
that we already won with our partner,
and there is ambitious planning in the United States
to scale production.
Beautiful.
I'm excited to stay tuned in
to everything that you guys have going on.
Best wishes, Oren.
Once again, I extend my gratitude for you coming on,
spending the last just over half an hour here with us,
speaking about everything.
Once again, appreciate you coming on here.
Mobilicom, that is symbol MOB.
They're trading on the NASDAQ.
And that's going to do it for today's space.
Just over an hour of great content here on Wolf Financial,
small cap show that we run each and every Monday, 1 p.m. Eastern. just over an hour of great content here on Wolf Financial Small Cap Show
that we run each and every Monday, 1 p.m. Eastern.
You see all the great speakers up here.
Taj, Dougie Fresh, Laptop.
Ariel was with us a little bit earlier.
You see Ball Story Tradings up here.
Ben behind the main Story Trading account there.
Definitely go check out all the different things that they do.
And of course, you see that Story Trading Spotlight account as well that helps keep everything in order. And I tell you what,
Rhett, he pulls a lot of strings in the background over there. So shout out to Rhett hanging out with
us up here behind that account. Give that one a follow too. There's a lot of things. I mean,
we do a lot here on Wolf Financial, but there's a lot of other things going on as well as you
should definitely have on your radar as much information as we can bring to you guys. That's the goal here. WholeSpace is recorded as
always. As soon as I close this down, you can go back and listen to the recording if you missed
any of the first half hour where we spoke about markets, some individual tickers, names, and
thematics there. And then of course, the great conversation here with Oren from Mobilicom around
drones and all that great stuff. I'm super excited to stay in tune with this theme.
And with that, I'm going to go ahead and close down this space.
I'm jumping back to live stream.
We've got more spaces coming up, stocks on spaces coming up here in a little bit.
We have, so there's some Palantir earnings coming out later this afternoon.
We have stock picks for the week that we're doing at 5.30.
So programming note, 5.30 for the stock picks
for the week tonight because of that Palantir earnings,
some other stuff that we've got going on there.
So spacing it out a little bit,
trying to bring you as much free, live,
educational, informational content as we can
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Full schedule, of course, is our pinned tweet as always.
Thanks, everyone.
We'll see you guys for this show next Monday at 1 p.m. Eastern.
Thanks for tuning in. .
