Drone USA Inc (OTCMKTS: DRUS) continues to see volatility as selling pressure hampered the stock as the week comes to a close. DRUS is down 5% for the day but held onto decent gains for the recent five-day period. The company has been an OTC darling as they received a government contract, which saw traders go bonkers.
On top of this, DRUS was awarded Kentucky’s statewide drone program assisting with mapping, security and providing environmental support. Michael Bannon, Drone USA’s Chief Executive Officer, commented, “We are extremely excited to be part of Kentucky’s statewide drone program. There are so many uses for drones. Drones help reduce costs, making work more efficient and safer.” The services agreement has a one-year contract renewal option, but details are still pending on the take for DRUS. But, numbers were given for DRUS’s contract with the U.S. government’s subsidiary, Howco Distributing. The numbers are decent – $659,000 for diesel cylinder heads – and show a nice payoff for their “Labor of love business model.”
Drone USA Inc (OTCMKTS: DRUS) casts itself as a company that focuses on the research, design, development, testing, manufacture, distribution, export, and integration of advanced low altitude unmanned aerial vehicles systems, services, and products. It offers quadcopter and fixed-wing unmanned aerial vehicles to government and commercial markets.
The company, through its subsidiary, HowCo Distributing Co., also provides product procurement, distribution, and logistics services to the United States Department of Defense and Defense Logistics Agency. In addition, it provides drone operator training services; and licensed piloted services, such as search and rescue, utility inspection, real estate marketing, construction, engineering, and agriculture. Further, the company offers spare and replacement parts to various federal government agencies, the U.S. military prime contractors, and commercial customers worldwide.
Drone USA, Inc. is headquartered in West Haven, Connecticut.
According to company materials, “Headquartered at 16 Hamilton Street, West Haven CT, Drone USA is everything drone for U.S. Law Enforcement, Fire Fighters, U.S, Industry and the U.S. Government… Drone USA, Inc. (OTCQB: DRUS), headquartered in West Have, CT., is a service provider, manufacturer and reseller of drones and distributor of products to the U.S. Government. Our competitive advantage stems from offering superior service, high quality products and establishing and maintaining life-long customer friendships. Our primary markets U.S. police, firemen, U.S. industry and the U.S. Government.”
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As mentioned above, DRUS has powered up its customer service experience and built out its Rolodex.
Michael Bannon, DRUS’ Chief Executive Officer, commented, “I couldn’t be prouder of our Howco team. In the late 1980s when my father started our family business, he taught me an important lesson. He said, “when a customer calls us they have a problem, their problem travels over the phone line and into our office. Their problem is now our problem. We solve it and it never goes back to the customer.”
Howco actually is one of the most important highlights of the recent news. The subsidiary is significantly expanding its footprint into sectors where drones are just starting to gain traction. DRUS really has a chance to be a first-mover in this space. Furthermore, the company has strong distribution centers in the Northeast and Southeast. This is important for overhead costs.
Drone USA Inc (OTCMKTS: DRUS) has a $3.49M market cap with a float of 21.76M. The stock is one to watch on the OTC as they have inked some impressive contracts as of late. We will continue to update readers on this exciting riser. Sign-up for continuing coverage on shares of $DRUS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $DRUS, either long or short, and we have not been compensated for this article.