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AgEagle Aerial Systems, Inc., formerly EnerJex Resources, Inc., manufactures small unmanned production vehicles (UAVs) or drones. The company sells its UAVs to precision agriculture. It designs and develops its focus drones to provide data that apply to precision agriculture. The company’s main product is RX-60. The RX-60 is a UAV for image processing, which is integrated into software specifically for precision farming. It processes and provides aerial maps of geographic references via the cloud to desktop or tablets. The uavs stock at https://www.webull.com/quote/amex-uavs details.
AgEagle Aerial Systems has record sales in the first quarter of 2020.
AgEagle Aerial Systems Inc., a leading provider of unmanned aerial vehicles in the industry and advanced solutions for aerial imaging, data acquisition, and analysis solutions, today announced its first quarterly results for the quarter ending March 31, 2020.
Financial highlights are important for comparable periods in the first quarter of 2020 and 2019
- Sales increased 751% from $ 46,000 to around $ 391,000.
- The gross profit margin increased from 26% to 55%.
- Net loss increased to $ 403,000, or $ 0.03 per loss, compared to $ 565,000, or $ 0.04 per loss.
Detailed financial results for the first quarter can be found on Form 10-Q, which the company submitted to the Securities and Exchange Commission yesterday.
About AgEagle Aerial Systems Inc.
The Uavs stock was founded in 2010 and based in Kansas. The company is recognized as one of the industry’s leading pioneers for drone technology and solutions for the acquisition and analysis of aerial photo data. We believe in helping global producers, consumer packaging companies and their supply chain partners, and urban environmental managers, to proactively assess and manage the health of factories and green infrastructure, reduce chemicals in food, products, and stores, and protect natural resources. Also, we are a leader in providing state, territorial, agricultural, producer and processor departments for registration, monitoring and regulatory compliance, non-implementation and reporting solutions related to the emerging hemp industry in the United States.
Uavs stock
AgEagle Aerial Systems announces a registered direct offering price of $ 6 million. AgEagle Aerial Systems Inc., a leading provider of unmanned aerial vehicles and advanced solutions for aerial photography, data acquisition, and analysis solutions, today announced the conclusion of a security purchase agreement with an institutional investment company (“Investor”) that is AgEagle’s existing shareholder. Under the terms of the agreement, investors bought 2.4 million common shares from AgEagle and an additional 3,257,444 pre-guaranteed warrants to buy ordinary shares at a purchase price of $ 1.06 per share.
The company expects net sales of around $ 5.91 million after deducting about $ 85,000 in shipping costs. Net proceeds from the sale will be used to buy back 262 Series E shares of the company, which can be converted into 1,046,699 common shares and are currently held by investors at a buyback price of USD 1.06 per share. The company expects to spend the rest of the proceeds for public works. This offer is expected to end on or around May 14, 2019 in normal closing conditions. You can also check ogen stock news at https://www.webull.com/quote/amex-ogen .
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