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 Port St. Joe-Wewahitchka, Florida, November 16, 2020OTC PR WIREHan Tang Technology/UAV Corp (OTC US: HTTI), (“UAV Corp ” or the “Company”) announces that it has filed its financial results for the Third Quarter of 2020, and the related Management’s Discussion and Analysis, the details of which are available at www.otcmarkets.com.   

“We are pleased to report our First Quarter of revenues, positive production test, as our first Airship nears 80% completion. This is the first of future quarters of delivering revenue and projected positive results which shows our vision and years of effort were focused in the right direction. Our sales activity was not recognized until the end of the Third Quarter due to pandemic related lockdowns and delayed budgets.  We expect increased sales activity over the next twelve months with prospective clients from both overseas and government related buyers monitoring our current production progress.  With the planned flight testing of the new DATT technology airship scheduled for early spring 2021, we should begin to see positive results from our efforts.

We continue to measure and implement initiatives to reduce costs and operate more efficiently. As the magnitude of the pandemic grew and construction pace decreased during the first half of 2020, the Company had to restructure part of the staff and reduce overhead expenses. All options are under review as we consider strategic alternatives related to our balance sheet and funding our growth. We are enthusiastic about the level of interest globally and continue to look for opportunities to grow the company, contribute to the local economy and increase our shareholders value.”  Stated Billy Robinson, Chairman of UAV Corp.

 

Highlights Third Quarter 2020:

 

  • The Company had its best quarter with revenue totaling $174,345.
  • The Company completed the first test of its DATT SA70 Airship.
  • $1.023 million in improvement grants approved for UAV Corp’s Costin Airport

 

Commenting on the results, Michael Lawson, CEO of HTTI/UAV Corp, stated: “The strategy of focusing on the improvement of our design criteria, upgrading the manned/unmanned flight systems and integrating our new DATT (Detachable Airship From A Tether Technology) has been 100 percent of our focus for the last 24 months.  Securing a sale built-to-suit activity has started to prove correct and the Company has improved its key performance indicators which is proving a stable base of employment for the region.”

 

 

 

 

 

 

 

About Han Tang Technology/UAV CORP, Inc.:

Han Tang Technology/UAV Corp (HTTI) is a Research and Development holding company with a focus on Communication Aerospace and Environmental Solutions. Researchers at HTTI are actively engaged in solving transformative problems for the government and commercial clients. We are working on a wide range of topics including but not limited to advanced communication, Airship and Drone Technology and low altitude analysis of carbon dioxide (CO2) conversion, new energy processes, biomass conversion, energy efficiency crop and mining management. 

About R Squared Technologies, Inc.: 

R Squared Technologies, Inc., (“R2”), a technology company that has developed the SENTINEL a man portable communication network between wired and Wi-Fi enabled devices within a secure network. It can be used for both defense and emergency management applications.  The SENTINEL provides an immediate command and control network and provides a communication solution in response to a variety of adverse circumstances, including severe weather, natural disasters, power outages or even a hostile attack. 

About Skyborne Technology, Inc.:

Skyborne Technology Inc., has significant investments in research & development of Intellectual Property and proprietary designs in areas covering semi-rigid and rigid airship design, reverse-ballonet technology, mooring and hybrid propulsion that have competitive advantages for both its Spherical and Cylinder Class tether/airship designs. Skyborne Technology has a manufacturing facility in Wewahitchka, Florida and owns the airport in Port St. Joe, Florida for manned and unmanned operations. 

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain “forward-looking statements” under applicable US securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

Contact:

Han Tang Technology/UAV Corp

OTC: HTTI

Billy Robinson, Chairman

504-722-7402

brobinson@uavcorp.net

www.uavcorp.net

 

Deborah Cheek, Communications Director

850-588-1747

dcheek@uavcorp.net

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