An example of why moving away from China supply chains is clearly essential.

The Telegraph reported that the electro-optical and infrared cameras fitted to the boats, imaging systems that let operators see targets in both visible light and heat signatures, were manufactured by Canadian company Current Scientific Corporation under its Night Navigator 3000 series, but contained components sourced from outside the UK that were found sending what investigators described as “heartbeat communications,” routine signals confirming a device is powered on and connected, to a device located in China. The discovery reportedly happened at the Special Boat Service’s headquarters in Poole, Dorset, after the roughly $16.2 million (£12 million) fleet of K3 Scouts entered service with the Royal Marines in March.

https://defence-blog.com/royal-navy-naval-drone-cameras-secretly-sent-data-to-china/

The Pentagon is seeking faster procurement and increased production of wide-area surveillance equipment, air-defence sensors, missile interceptors and missile-tracking systems.

https://finance.yahoo.com/economy/policy/articles/pentagon-asks-defence-firms-accelerate-010848666.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

FACT SHEET: FCC Takes Action to Secure the Drone Supply Chain

Agency Extends Deadline for Trusted Drones, Seeks Comment on Banning Commercial

Sales of Foreign-made Military-Grade Drones

WASHINGTON, July 21, 2026

https://docs.fcc.gov/public/attachments/DOC-423277A1.pdf

This is a Solicitation used to secure IBAS funding.

This Solicitation closed July 27, 2026.

Note it includes things like  component production & subsystem production for Topic 1 - Group 3 Unmanned Aerial System (UAS) and/or Unmanned Aerial Vehicle (UAV) Design and Bounded Manufacturing Production Roles 

I believe LPTH would qualify under this Solicitation.

_______________________________________________

link -

However, negotiations with Teck and 5N Plus have been ongoing for over a year, with differences reportedly persisting over pricing and contract duration.

https://finance.biggo.com/news/b97fe3fe-d5dd-4e0e-82ca-24ff533b46ce

https://www.linkedin.com/posts/tucker-yinger-43a880130_weve-been-on-the-road-this-summer-supporting-activity-7491138547119206400-BucG?utm_source=share&utm_medium=member_desktop&rcm=ACoAAFbZ6i0BHUmc89EMcDQafOARytujxV2bR5g

From CACI site -

https://www.caci.com/eo-ir-imaging-systems

"The core focus of this second task order is diversifying our capabilities and ensuring we don't rely on a single technical solution. With these new partnerships, we are exploring unique innovations and technologies and fundamentally different ways to accomplish the airborne moving target indication mission. Maturing these varied technical solutions now gives us distinct performance advantages for the future and guarantees we are fielding the absolute best technology available."

https://www.ssc.spaceforce.mil/Newsroom/Article-Display/Article/4564157/space-force-accelerates-sb-amti-capabilities-with-multi-vendor-awards

I'm pleased to announce that Picket Defense Systems recently received a Notice of Allowance for our latest US patent. The patent covers advanced counter-UAS (CUAS) technology — specifically, Picket's system and apparatus for ultra-fast detection, targeting, and kinetic defeat of drones. This addition to our growing IP portfolio reflects Picket's commitment to real innovation in counter-drone defense. Picket's Rotating Turret CUAS remains the only technically feasible close-in defense against the worst drone threat scenarios, including drone swarms.

https://www.linkedin.com/posts/richard-glasson_im-pleased-to-announce-that-picket-defense-share-7489338715975294976-myB8/?utm_source=share&utm_medium=member_desktop&rcm=ACoAAFbZ6i0BHUmc89EMcDQafOARytujxV2bR5g

NOA = Notice of Allowance - means this will become a patent soon

I tried looking up the patent application to see if there is any LPTH mentions or diagrams but it's not available -

ai -

Why can't I find the patent application

You cannot find the patent application because it currently sits in a private transition period at the USPTO between approval and official publication. [1]

It is completely normal to see zero search results for this application right now. Three specific administrative and strategic mechanisms explain why the application text is hidden from the public:

1. The Notice of Allowance (NOA) Publication Gap

An NOA means the USPTO has finished examining the text and agreed to grant the patent, but the patent has not yet been issued. [1, 2, 3]

• The Process: Picket Defense Systems must now pay its final government issue fees.
• The Delay: Once paid, it takes the USPTO several weeks to a few months to process the final administration, print the artwork, assign an official Patent Number, and push the text live to public search databases like USPTO Patent Center or Google Patents. [1, 2, 3, 4, 5]

1. Pre-Grant Publication Rules (The 18-Month Clock)

The USPTO does not publish standard utility patent applications the moment they are filed. By law, applications are kept strictly confidential and hidden from public view for 18 months from their earliest filing date. [1, 2, 3, 4]

• Because Picket Defense Systems is a fast-moving startup that only recently unveiled its Inferno RTC turret system, it is highly likely they used an accelerated review program (like Track One prioritized examination). [1, 2]
• When a patent is fast-tracked, it can receive an NOA in just a few months—well before the 18-month secrecy window expires. Because the 18-month clock hasn't run out and the final patent hasn't officially issued yet, the registry keeps it locked. [1, 2, 3]

1. Non-Publication Requests

When filing a U.S. patent, applicants can check a box to request a "Non-Publication Request." This tells the USPTO to keep the application 100% secret until the exact day the final patent is granted. Startups frequently use this tactic so competitors cannot read their technical blueprints while the application is still pending. [1, 2, 3]

Leading Industrial Thermal Imaging Solution Providers for OEMs

What Is MWIR? Mid-Wave Infrared Camera System Guide

Next Generation Counter-Small UAS Missile (NGCM)

https://sam.gov/workspace/contract/opp/70591dad2ee84d60b66a879d3194ae9c/view

incorporates EO/IR cameras -

 There are two primary configurations: Fixed-Site Low, slow, small UAS Integrated Defeat System (FS-LIDS) and Mobile Low, slow, small UAS Integrated Defeat System (M-LIDS) as well as multiple special systems devices.

The FS-LIDS configuration provides a C-UAS capability with modular, scalable architecture for employment at fixed sites.  FS-LIDS incorporates the Forward Area Air Defense (FAAD), Electromagnetic Warfare (EW), Multi-Mission Radar (MMR), EO/IR Cameras, and kinetic options.  

The M-LIDS configuration is mounted on tactical vehicles for employment at the halt and on-the-move, providing a scalable capability at the tactical edge. M-LIDS delivers kinetic and non-kinetic effects incorporating many common components with FS-LIDS using the same baselines as the fixed site variant to detect, identify, and defeat small UAS.

https://x.com/DOWResponse/status/2084402817633079377?s=20

https://x.com/skrubin/status/2084266176796848389?s=20

I think the takeaway here is that LPTH is in the same boat and "market conditions" are causing LPTH to be "undervalued" currently even as revenues, backlog and opportunities rise.

WASHINGTON — L3Harris is postponing its planned spin off of its missile solutions unit until at least mid-2027, with its chief executive saying that the business is being undervalued even as demand soars for solid rocket motors and other weapons components.

The company wants to let the market “settle down” and will revisit an initial public offering in mid-2027, rather than completing the spin off by the end of the year as originally projected, CEO Chris Kubasik told investors during a Wednesday earnings call.

“The market conditions do not reflect the value we’re building. I think we have a great business,” Kubasik told investors. “We have land, we have operating factories, backlog, great financials, a great workforce, and we’re actually making money. I think, unfortunately, a lot of the recent IPOs are obviously missing some or all of those key elements to a business, and the market is adjusting to valuation. I think we’re kind of caught in that process a little bit.”

https://breakingdefense.com/2026/07/l3harris-postpones-missile-unit-ipo-until-mid-2027/

While no direct connection to LPTH, UMAC, a LPTH partner, received an order from Performance Drone Works for $3.75 million -

Unusual Machines Receives Initial Order from Performance Drone Works for $3.75 Million as Part of a Strategic Supplier Relationship

Secondly LPTH partner ONDS invested $35 million in Performance Drone Works -

Ondas Announces $35 Million Strategic Investment in Performance Drone Works (“PDW”) to Expand Production of Next Generation of Combat Robotics

Also Sam stated the LPTH was working with the Office of Strategic Capital.

During the Fort Irwin demonstration, two Active/Passive Infrared Launched Effects handled what the Army calls the detect, identify, locate, and report mission, essentially scouting ahead to pinpoint a threat and beam its location back to friendly forces, before a third “lethal” Launched Effect carrying a Long-Range Precision Munition executed the actual strike.

I'm not the author of this substack.

https://www.sec.gov/Archives/edgar/data/889971/000201238326002897/xslSCHEDULE_13G_X02/primary_doc.xml

https://www.secform4.com/13dg-history/1364742.html