Global UAV Technologies Ltd. (CSE: UAV, OTC: YRLLF, FSE: YAB2) (the “Company” or “Global UAV”), a leader in the Unmanned Aerial Vehicle (“UAV”) industry, is pleased to announce audited revenue for the fourth quarter and fiscal year ending October 31, 2017 and the filing of audited financials on SEDAR.
- The total audited gross revenue for the fourth quarter ending October 31, 2017 is $490,261 representing an increase of 47.2% over the previous quarter’s gross revenue.
- The total audited gross revenue for the fiscal year ending October 31, 2017 is $1,027,379.
The continued increase in quarterly revenue is in large part due to the rapid growth of our services division. This year we entered new global markets and saw strong growth and increased demand for Pioneer Aerial’s UAV-MAGTM surveys. Pioneer Aerial Surveys was the primary revenue contributor posting Q4 revenue of $361,810.
Recently attended conferences have created an upswing in interest in the services of the Company, which bodes well for continued growth. “We expect this momentum to continue, as strategic reinvestment into our divisions should accelerate growth through 2018,” stated Michael Burns, CEO and Director of Global UAV.
The Company is making a concerted effort to increase both sales and revenue of our manufacturing and regulatory divisions. Global UAV is reinvesting heavily to accelerate the growth of NOVAerial Robotics, High Eye Aerial and UAV Regulatory, which includes the development of new technology, with the goal of becoming a world leader in the UAV industry.
With current cash reserves in excess of $1,000,000 the Company is well positioned to accomplish its growth targets in 2018.
The company had 3,010,000 warrants exercised during the month of February for net proceeds of $301,000. There are currently 1,378,000 warrants remaining that are set to expire on March 16, 2017.
The Company has issued a total of 2,250,000 stock options to certain insiders of the Company. The stock options are exercisable at $0.18 and will be valid for a period of three years.
Prospectors and Developers Conference (“PDAC”):
The Company will be attending the PDAC, North America’s leading mining and exploration convention, from March 4th to 7th. The Company will be exhibiting with the Canadian Securities Exchange (“CSE”) that can be found at booths 2542 and 2544. Please feel free to drop by the booth to meet the team and learn more of what Global UAV and its service division have been doing and its plans.
About Global UAV Technologies Ltd.:
With its growing technical expertise and expanding reach globally, Global UAV Technologies is a leader within the commercial Unmanned Aerial Vehicle (“UAV”) sector. Through its wholly owned divisions - Pioneer Aerial Surveys, High Eye Aerial Imaging, UAV Regulatory Services, and NOVAerial Robotics – Global UAV Technologies provides a full spectrum of UAV-based services and products including manufacturing, services provider and regulatory divisions.
Global UAV Technologies will continue its growth through expanding the business of its current divisions and the continued evaluation of potential acquisitions with the goal of creating a consortium of businesses that, when fully integrated, will cover all aspects of the UAV industry.
On behalf of the Board of Directors,
CEO & Director
For additional information please contact:
Global UAV Technologies
Telephone: 1 888-905-7011
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in public markets, service industries, manufacturing and the UAV Sector. As a result, actual results may vary materially from those described in the forward-looking statements.