Fort Lauderdale, FL, October 22, 2020 – OTC PR WIRE — UAS Drone Corp. (OTCQB: USDR), a leader in robotics technology and drone solutions, today announced that its common stock was approved for quotation on the OTC Markets Group, Inc.’s OTCQB® tier Venture Market (the “OTCQB”) under the symbol “USDR,” effective as of the open of trading on October 22, 2020.
The OTCQB is a venture market operated by the OTC Markets Group, Inc. and is designed for early-stage and developing companies located both in the United States and abroad. To be eligible for quotation on the OTCQB, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must also meet a minimum bid price test and cannot be in bankruptcy. The OTCQB is recognized by the Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value, and trade securities.
UAS Drone Corp., through its wholly owned subsidiary Duke Robotics, developed TIKAD, an innovative military UAS octocopter drone with a mounted lightweight firearm and advanced stabilization technology. TIKAD features a lightweight robotic gimbal with the unparalleled ability to carry and stabilize payload recoil up to three times its weight. In addition, TIKAD’s gimbal offers real-time, 6 DOF (degrees of freedom), a capability that provides an advantage to U.S. and allied forces in combat. TIKAD advances military strategy by integrating an aerial support system into combat missions. The drone can engage with troops or lead precision strikes without the need for intrusive action. TIKAD can be used in various military applications including border patrol law enforcement, drone on drone warfare and counter terrorism.
About Duke Robotics:
In June 2020, UAS Drone Corp. (OTCQB: USDR) completed the acquisition of Duke Robotics Inc. Duke Robotics is a forward-thinking company focused on bringing necessary products and solutions to the defense sector. Duke Robotics developed TIKAD, an advanced robotic system designed to serve the growing need for tech solutions in the combat field. Duke Robotics’ revolutionary stabilization technology enables remote, real-time and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV). The proprietary and confidential complex kinematic algorithms address the crucial need of modern warfare to carry weapon on remote to bear on remote hostile targets without risk to the military personnel.
We believe that troops can use TIKAD to handle potentially dangerous situations quickly and efficiently from the air. This technology also allows troops to potentially disarm a situation remotely, without ever deploying a ground presence.
For more information about Duke Robotics, please visit www.dukeroboticsys.com or view documents that USDR files with the Securities and Exchange Commission at http://www.sec.gov.
This press release contains forward-looking statements. Words such as “future” and other similar expressions or future or conditional verbs such as “will” are intended to identify such forward- looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; significant fluctuations in foreign currency exchange rates; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Reports on Form 10-Ks and Quarterly Reports on Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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