ORLANDO, Fla., Jan. 25, 2021 /PRNewswire/ — Purple Cat Holdings, Inc. (OTCQB: RCAT) (“Red Cat”), introduced the signing of a letter of intent to obtain Skypersonic Inc., a company of drone products and solutions and software program answers. Skyloc is a stand-alone, genuine time, program checking program which allows a drone to be operated from hundreds of miles away from wherever it is remaining flown. Skycopter is a miniature drone developed to keep an eye on difficult to get to destinations, and is enclosed in a mild, sturdy cage to stay clear of damage to inspected regions and the drone.
“Skypersonic Inc. shares our passion and eyesight for how the very first-human being-check out (FPV) use of drone know-how can empower enterprises to entire crucial functions in an effective, protected method,” stated Jeffrey Thompson, CEO of Purple Cat. “A Skycopter outfitted with Skyloc application can total inspections in spots that are confined, difficult to get to, and inefficient to complete manually.”
“Skypersonic presently collaborates with multiple Automotive OEM (initial equipment producer) customers and Business Electrical power Industries positioned in US, Brazil, Europe, Middle East, and Asia. The transoceanic direct-fly system has enabled our prospects to perform real-time inspections with pilots and inspectors situated all about the globe,” stated Giuseppe Santangelo, CEO of Skypersonic Inc. “Combining the program solutions delivered by Sklyoc, and these remaining designed in Dronebox by Pink Cat, could end result in a primary program functioning platform throughout the complete drone industry.”
The signing of a letter of intent does not stand for a binding transaction and there are no assurances that the transaction will be consummated. Completion of the transaction is subject to due diligence, preparing of lawful documents and other standard closing situations.
About Red Cat
Purple Cat presents merchandise, products and services and solutions to the drone market via its a few wholly owned subsidiaries. Excess fat Shark Holdings is the primary service provider of 1st Human being Look at (FPV) online video goggles to the drone business. Rotor Riot, LLC is a leader in the sale of FPV drones and machines, largely to the consumer marketplace through its electronic storefront positioned at www.rotorriot.com. Rotor Riot enjoys large visibility in social media through its Facebook webpage and its sponsorship of a experienced drone racing staff which has won several championships. Purple Cat Propware is building a Software package-as-a-Remedy (“SaaS”) system to offer drone flight data analytics and storage, as properly as diagnostic merchandise and products and services.
About Skypersonic Inc.
Skypersonic Inc., is a supplier of drone products and solutions and software alternatives. Skycopter is a miniaturized caged drone for industrial inspections in confined spaces. Skyloc is a proprietary telemetry gateway with environmental monitoring and precise location tracking in GPS-denied environments.
The information delivered in this press launch could include things like ahead-wanting statements relating to future occasions or the potential financial performance of the Enterprise. Since such statements are matter to dangers and uncertainties, real effects may perhaps differ materially from these expressed or implied by these forward-hunting statements. Phrases these types of as “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and identical expressions are meant to recognize ahead-hunting statements. These ahead-searching statements are based on latest expectations of the Enterprise and include assumptions that might by no means materialize or may perhaps demonstrate to be incorrect. True benefits and the timing of functions could vary materially from those people predicted in this sort of forward-on the lookout statements as a final result of numerous pitfalls and uncertainties. In-depth information and facts pertaining to variables that may cause true outcomes to differ materially from the results expressed or implied by statements in this press launch relating to the Organization may be observed in the Company’s periodic filings with the Securities and Trade Fee, which includes the aspects explained in the sections entitled “Risk Factors”, copies of which may possibly be attained from the SEC’s web site at www.sec.gov. The functions do not undertake any obligation to update forward-on the lookout statements contained in this press release.
Investor Relations Get hold of
Dave Gentry, CEO
Look at primary content to download multimedia: http://www.prnewswire.com/news-releases/red-cat-indications-letter-of-intent-to-purchase-skypersonic-inc-the-developer-of-a-remote-transoceanic-piloting-software package-system-for-the-drone-field-301214007.html
Source Red Cat Holdings, Inc.