UAS Drone Corp. looks Ahead to 2022 Growth Reflects on 2021 Milestones

Rhea-AI Summary

UAS Drone Corp. (OTCQB: USDR) recently highlighted its achievements in 2021, marking a pivotal year for growth and innovation. Key milestones include a significant collaboration agreement with Elbit Systems for the TIKAD product, the appointment of Yossef Balucka as CEO, and the successful raising of approximately $5 million to fund future expansion. Additionally, the company received a patent for its stabilization technology, positioning it for increased demand in robotic solutions in 2022, particularly in the defense sector.

Positive

• Collaboration with Elbit Systems to boost TIKAD sales.
• Appointment of a new CEO to drive growth strategy.
• Successful capital raise of approximately $5 million.
• Grant of a patent for advanced stabilization technology.

Negative

• None.

Fort Lauderdale, Florida, Feb. 03, 2022 (GLOBE NEWSWIRE) -- UAS Drone Corp. (OTCQB: USDR), a leader in robotics technology and drone solutions, is pleased to provide a recap on its milestones and success in 2021 and looks ahead for growth and the launch of new products in 2022.

Highlights of the Company’s 2021 milestones and accomplishments include:

• Collaboration Agreement with Elbit Systems Land - our wholly owned Israeli subsidiary, Duke Airborne Systems Ltd. and Elbit Systems Land Ltd., signed a Collaboration Agreement for the global marketing and sales, and the production and further development of, our TIKAD product. We believe this collaboration represents a significant opportunity to expand our global business and sales of our product.
• Appointment of new CEO - Mr. Yossef Balucka was appointed as our Chief Executive Officer and President, with the goal of accelerating our plans for growth and deployment of our strategy.
• Successful Capital Raise - we successfully raised approximately $5.0 million in a private placement offering to support the next phase of our growth and expansion.
• Grant of Patent - Duke Airborne Systems Ltd., our wholly owned Israeli subsidiary, was granted a patent, from the U.S. Patent and Trademark Office, titled “Stabilization System” with regard to its stabilization technology incorporated in its advanced robotic system.

“As we look ahead to 2022. we believe that there are factors that may increase demand for robotic solutions,” said Mr. Balucka, CEO UAS Drone. “The use of robotic applications is practical and cost-effective, and the interest and investment in robotic solutions are greater than ever before. In 2022, we hope to announce material developments and expansions of our products and applications for its use in the civil market.”

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.

Forward-Looking Statements

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. For example, when we discuss the belief that we believe that there will be an increased demand for robotic solutions in 2022 and the potential for its growth and potential expansion, and development and release of, new products, we are using forward-looking statements. 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.

Investor Contact:
Contact name: Yossef Balucka, CEO
Email address: invest@dukeroboticsys.com

FAQ

What milestones did UAS Drone Corp. achieve in 2021?

In 2021, UAS Drone Corp. achieved several milestones including a collaboration agreement with Elbit Systems, the appointment of a new CEO, a successful capital raise of approximately $5 million, and the grant of a patent for stabilization technology.

What is UAS Drone Corp.'s stock symbol?

UAS Drone Corp. is traded under the stock symbol USDR.

Who was appointed as the new CEO of UAS Drone Corp.?

Yossef Balucka was appointed as the new CEO and President of UAS Drone Corp.

How much capital did UAS Drone Corp. raise in 2021?

UAS Drone Corp. successfully raised approximately $5 million in a private placement offering in 2021.

What is the TIKAD product from UAS Drone Corp.?

TIKAD is an advanced robotic system developed by UAS Drone Corp., designed for remote and accurate operation of lightweight firearms through unmanned aerial platforms.