Red Cat Inc. (TFVR:OTC) announced in a news release it signed a letter of intent to acquire Rotor Rio, a drone technology and media company.
"Combining our companies provides a solid foundation for us to build upon the success of Rotor Riot's well-established influence and follower base, as we develop new and exciting technologies that advance the freestyle, racing and commercial drone industry," Red Cat's CEO Jeff Thompson said in the release.
Red Cat provides blockchain-based distributed storage, analytics and software as a service to the drone industry.
A founding member of the First Person View (FPV) Freedom Coalition, Red Cat "continues to advocate for airspace for recreational drone pilots and FPV operators, provides safety and education guidelines compliant with the Federal Aviation Administration (FAA) and integrates the FPV community into the regulatory framework as an FAA community-based organization," the release noted.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Red Cat.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Red Cat, a company mentioned in this article.
