JACKSONVILLE, FL--(Marketwired - Aug 15, 2014) - Drone Aviation Holding Corp. ("DAHC"), (OTCQB: DRNE), a developer of specialized tethered drones and lighter-than-air aerostats, today provided a shareholder update for the Second Quarter of 2014.
"Drone Aviation Holding Corp. is extremely pleased with the milestones that have been accomplished in the second quarter of 2014," stated Felicia Hess, CEO of Drone Aviation Holding Corp. "There is no doubt that the public interest and fascination with drones is increasing each and every day, and that demand for our products has continued to increase throughout the projected multi-billion drone marketplace. The Company has received overwhelmingly positive feedback from both our governmental and commercial clients. Going forward, we are committed to leveraging our recurring revenue model in order to improve earnings and enhance shareholder value."
Recent Operational Highlights:
- In July 2014, Drone Aviation Holding Corp. completed an "uplisting" of its common stock to the OTCQB Marketplace, trading under the ticker "DRNE".
- Drone Aviation Corp. ("DAC"), a wholly owned subsidiary of DAHC, acquired Lighter Than Air Systems Corp. ("LTAS"), and began focusing on developing and producing tethered drones and tethered aerostats for military and commercial applications.
- During the second quarter, DAC accelerated development and sales activities of LTAS' unique aerial surveillance and communications products. Today, DAC provides cost-effective aerial systems serving the government, law enforcement, military and private sector customers.
- DAC's unique and proprietary tethering technology allows it to capitalize on the tremendous demand for unmanned aerial technologies that are able to legally operate under FAA guidelines, which currently restrict free flying drones.
- DAC continues to enhance its sales and support pipeline with both military as well as commercial customers including local municipalities; all of whom are evaluating or actively deploying the Company's tethered aerostat products.
Ms. Hess continued, "Having completed much of our integration and product planning activities in the second quarter of 2014, the stage is set for continued momentum in the second half of the year. We expect our growth to be driven by the expanded use of our products by the military for in-field communications, as well as in commercial sectors, including infrastructure inspection, emergency response and aerial monitoring and security. We are excited about the near-term prospects of the Company and look forward to providing additional updates as they materialize."
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (DRNE) provides critical aerial and land based surveillance and communications solutions to government and commercial customers. Utilizing a unique tethering capability, Drone systems operate in the National Airspace within FAA guidelines for safe operations. Drone systems are designed and developed in-house utilizing proprietary technologies and processes that result in compact, rapidly deployable aerostat solutions and mast based systems that have been proven to fulfill critical requirements by the military and law enforcement in the U.S. and to our allies around the world. For more information about Drone Aviation Holding Corp., please visit www.DroneAviationCorp.com, or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov.
This press release contains certain forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements include those regarding Drone's relationship with any of its customers and its ability to continue and/or expand such relationships, the ability of the Company to introduce new products and the timing of any such new releases, the ability to secure and the timing of any new contracts or business, the demand for Drone products in any markets, the ability of the Company to leverage its recurring revenue model, the status of the Company's sales and support pipeline, the suitability of the Drone products for any particular application, the ability of the Drone products to satisfy customer demands or requirements or meet any specific challenges, the ability of the Drone products to function in accordance with their design expectations, the capabilities, characteristics and advantages of, and costs related to, the Drone products as compared to any competitors, the further advancement, development or commercialization of any of Drone's products, the ability of Drone to secure further business with existing or new customers or grow revenues, the ability of the Company to improve earnings or enhance shareholder value, and the ability of Drone to execute on its strategies or to accomplish any of its goals or objectives. The words "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. Important factors that may cause results and outcomes to differ materially from those contained in these forward-looking statements included in this press release are described in our publicly filed reports. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.