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Draganfly Inc. (OTCQB: DFLYF) has received approval to list its common shares on The Nasdaq Capital Market under the symbol “DPRO,” with trading expected to commence on July 30, 2021. This move follows the cessation of trading on the OTCQB. Draganfly specializes in drone solutions across various sectors, including public safety and agriculture, and continues to trade on the Canadian Securities Exchange. The company cautions that future trading is subject to Nasdaq's listing requirements and other risks.
Draganfly Inc. (OTCQB: DFLYF) announced plans for a share consolidation, adjusting the ratio to one new Common Share for every five existing shares. This consolidation will take effect on July 29, 2021, reducing the total shares from approximately 135 million to about 27 million. The company also aims to list its shares on The Nasdaq under the new symbol 'DPRO' and has initiated a name change for its shares on the Canadian Securities Exchange. Shareholders will receive communication regarding their new shares, and no fractional shares will be issued.
Draganfly Inc. (OTCQB: DFLYF) plans to list its common shares on The Nasdaq under the ticker 'DPRO', pending final listing requirements. This initiative accompanies a proposed public offering in the U.S. to fund corporate purposes such as growth initiatives and research. A preliminary prospectus supplement has been filed in Canada and with the SEC. While trading on Nasdaq depends on completing the offering and market conditions, the prospectus details essential information concerning the offering and its intended use of proceeds.
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF) announced its agreement with Dover Motorsports to provide health security and public safety drone services for the June 18-20 NASCAR tripleheader weekend at Nashville Superspeedway. This event marks the return of the NASCAR Cup Series to Middle Tennessee for the first time in 37 years, featuring the sold-out 'Ally 400' race. Draganfly's patented technology aims to enhance safety protocols, building on its previous deployments during significant events, including the 2021 College Basketball season.
Draganfly Inc. reported a remarkable 209.8% increase in revenue for Q1 2021, totaling $1,539,736, driven largely by product sales and the acquisition of Dronelogics. However, engineering services revenue declined significantly due to pandemic impacts. The gross margin improved to 33.4% from 22.2% in Q4 2020, though it decreased 62.0% year-over-year. A comprehensive loss of $44.9 million was noted, primarily due to a non-cash liability from warrants issued during a recent financing. Cash reserves increased to $21.1 million as of March 31, 2021.
Draganfly, a leading drone solution developer, will host a virtual shareholder update call on May 27, 2021, at 2 PM MST/4 PM EST. CEO Cameron Chell will discuss company milestones, while CFO Paul Sun will review FY2020 and Q1 2021 financial results. Key achievements include securing a $1 million contract with Windfall Geotek, raising $16.45 million through a Regulation A offering, and partnerships with the Southern Alberta Institute of Technology and Woz ED. For registration, visit the company's website.
Draganfly Inc. (OTCQB: DFLYF) has secured a contract with Integrated Launcher Solutions (ILS) for the engineering and development of a drone-based non-lethal multi-launching system. This initiative focuses on creating a non-lethal 40mm multi-launching system for military and public safety applications. Draganfly is providing $150,000 in strategic vendor financing to support the project, and in return, ILS will grant the company 8% of gross revenue from the project for five years. This collaboration aims to enhance public disturbance management solutions.
Coldchain Delivery Systems has selected Draganfly to develop, deploy, and operate a medical and vaccine delivery system. The agreement outlines a five-phase rollout, starting with a $125,000 phase for obtaining regulatory approvals over ten months, followed by phase two, where Coldchain Delivery will commit to purchasing at least $625,000 in services. This partnership aims to enhance the delivery of essential medical supplies, leveraging Draganfly's technology in UAV systems. The collaboration seeks to utilize Draganfly's patented payload systems for healthcare logistics.
Draganfly reported significant growth in its fourth quarter and full year 2020 results. Revenue increased by 216% to $4.36 million, driven by organic growth and the acquisition of Dronelogics. The company faced a comprehensive loss of $8.01 million compared to $11.1 million in 2019. Notably, gross margin decreased from 84.1% in 2019 to 40.3% in 2020 due to a shift towards lower-margin hardware sales. In Q4 2020, revenue grew 202.3% to $1.49 million, while comprehensive loss increased to $3.74 million.
Draganfly Inc. (OTCQB: DFLYF) announced a $1 million services agreement with Windfall Geotek Inc. to deploy EagleEye™ AI flight services. This collaboration aims to enhance the exploration of battery metals such as nickel, zinc, lithium, and cobalt, traditionally surveyed via fixed-wing aircraft. Windfall has allocated $500,000 for this project. Both companies emphasize the ecological benefits and advanced data analytics provided by their services, positioning this partnership as a transformative step in the mining sector.
