Vancouver, British Columbia--(Newsfile Corp. - April 3, 2018) - 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 the unaudited revenue amounts for the first quarter ending January 31, 2018 and the filing of unaudited financials on SEDAR.
- The total unaudited gross revenue for the first quarter of fiscal year 2018 is $349,750
Michael Burns, CEO and Director of Global UAV stated: "These revenue numbers are very significant for Global UAV. They only represent approximately two full operating months of our services division due to the Christmas holiday season. Further, the financials prove that our services can generate substantial revenue year-round. Traditionally, many UAV service companies that focus on remote sensing and photogrammetry products have limited work streams over the winter months. Global UAV was able to maintain its revenues through adverse weather-conditions due in large part to the high-level experience and operational abilities of our field crews and UAV products. We also successfully completed our first night-flight survey operations which are critical in maintaining productivity during the shorter daylight hours of northern winters. As our international markets continue to expand, we look forward to increasing our winter-month revenues in 2018."
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Annual General Meeting:
Global UAV is also pleased to report that all resolutions were passed at its Annual General Meeting held on March 29, 2018. The Board of Directors and management would like to thank all shareholders for their continued support and confidence.
The Board of Directors and Officers for the upcoming year will consist of:
James Rogers - President and Director
Michael Burns - CEO, Director and Audit Committee Chair
Robert Lefebvre - Director and Audit Committee Member
Stewart Baillie - Director and Audit Committee Member
Anthony Jackson - CFO
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
Email: [email protected]
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.