UAV Corp Files Public Offering
Port St. Joe-Wewahitchka, Florida--(Newsfile Corp. - February 16, 2021) - UAV Corp (OTC PINK: UMAV) announces that on February 12, 2020 the Company filed a REG A registration statement regarding a Public Offering for a maximum of 20,000,000 shares at $0.50 per share in UAV Corp common shares to potentially raise up to $10,000,000 for the purpose of retiring all debt, invest in new advanced drone technologies related to its manned/unmanned operations, manufacturing, and communication capabilities.
"We are excited that upon the successful completion of this Public offering, the Company will be able to retire the corporate debt to focus 100% on the advancement of our technologies and global sales opportunities," stated William Robinson Chairman of UAV Corp.
UAV Corp's subsidiaries Skyborne Technology and R Squared Technologies (R2) will then be able to utilize manufacturing processes to encompass 3D printing of composites and carbon fiber components for modular assembly of DATT airships, drones and R2's Sentinel "Blackbox" communication system.
"In addition to adding new manufacturing processes for our DATT airships and UAS (unmanned aerial systems), improvements at Skyborne's Costin Airport will also be integrated to gear up for airship and drone tests flights scheduled for later this year. Specifically, the new DATT system will be tested with the SA-70 semi-rigid airship with drones for Disaster Relief Operations," stated Michael Lawson CEO.
About UAV Corp
UAV Corp (UMAV) is a Research and Development holding company with a focus on Communication Aerospace and Environmental Solutions. Researchers at UAV Corp are actively engaged in solving transformative problems for the government and commercial clients. We are working on a wide range of topics including but not limited to advanced communication, Airship and Drone Technology and low altitude analysis of carbon dioxide (CO2) conversion, new energy processes, biomass conversion, energy efficiency crop and mining management.
About R Squared Technologies, Inc.
R Squared Technologies, Inc., a technology company that has developed the SENTINEL a man portable communication network between wired and Wi-Fi enabled devices within a secure network. It can be used for both defense and emergency management applications. The SENTINEL provides an immediate command and control network and provides a communication solution in response to a variety of adverse circumstances, including severe weather, natural disasters, power outages or even a hostile attack.
About Skyborne Technology, Inc.
Skyborne Technology, Inc. has significant investments in research & development of Intellectual Property and proprietary designs in areas covering semi-rigid and rigid airship design, reverse-ballonet technology, mooring and hybrid propulsion that have competitive advantages for both its Spherical and Cylinder Class tether/airship designs. Skyborne Technology has a manufacturing facility in Wewahitchka, Florida and owns the airport in Port St. Joe, Florida for manned and unmanned operations.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" under applicable US securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Deborah Cheek, Communications Director
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74582