Bantec Expands licensing initiative by identifying and contacting 10+ Patent Improvement Holders regarding Licensing Agreements for Patent 10,147,067 (Drone Operated Package Delivery Receptacle)
Bantec, Inc. (OTCPINK: BANT) announced the expansion of its licensing initiative focused on its Drone Delivery Receptacle patent. CEO Michael Bannon highlighted plans to contact over 10 Improvement Patent holders for potential licensing agreements, which could generate significant revenue in 2022. The global drone package delivery market is projected to reach USD 18.65 billion with a CAGR of 54.5% by 2028, driven by demand for efficient delivery systems.
- Potential licensing agreements with more than 10 well-funded Improvement Patent holders.
- Forecasted growth in the global drone package delivery market, expected to reach USD 18.65 billion by 2028.
- None.
LITTLE FALLS, N.J., Nov. 10, 2021 /PRNewswire/ -- Bantec, Inc. (OTCPINK: BANT) ("Bantec" or the "Company"), expands licensing initiative.
Michael Bannon, Bantec's Chairman and CEO stated: "Bantec's continuing research into revenue streams related to its Drone Delivery Receptacle patent has identified another exciting path to potential 2022 income; licensing opportunities directed towards Improvement Patent holders. An improvement patent is one which adds to the technology of a basic patent. We have identified 10+ well-funded Improvement Patent holders and we will be contacting these companies and their investors with an eye towards licensing our patent to them. We believe that these Improvement Patent holders will be quite receptive since we hold the basic patent and, in many instances, the Improvement Patent cannot be used without infringing on the basic patent".
Projected Drone Delivery Market Size
"The global drone package delivery market size is expected to reach USD 18.65 Billion at a steady CAGR of
About Bantec
Bantec, Inc., a product and services company, through its subsidiaries and divisions, sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments, and the US government. We intend to grow different business lines, including using the franchise model, that support the customers described above.
Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses, or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: "plans, "anticipates," "expects," "believes" or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
Contacts:
Michael Bannon
Chairman & CEO
mike@bantecinc.com
(203) 410-8924
View original content:SOURCE Bantec, Inc.
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