Global UAV Technologies Ltd C.UAV

Update From Call With CEO Mike Burns

[LoganKM]

Hi folks. I spent about an hour on the phone with Mike Burns today, so I thought I would post an update for those interested in some true DD 1) BVLOS: We can expect an update shortly. They have submitted a thorough proposal to the government in October, and are working on developing a proprietary sensor technology that can be installed on their UAV's which can detect other UAV's and aerial objects when the UAV is beyond their line of sight. This will be a big step in receiving overall approval, however this will take time 2) The stock based compensation of $380K within the Q1 results is not going to be run rate, and is higher than it will continue to be. They have put together a compensation committee to assess the best approach to compensation, and are looking at employee stock programs to encourage employees to take stock in the company 3) Insiders currently hold approximately 40% of the float 4) Revenue is continuing to trend positively. I expect Q2 will be their best yet, and will have significant accounts receivable. The major contract in Quebec won't hit revenue by end of Q2, but will hit the receivables 5) Cash position is about $1MM, and they made a loan to High Eye for business expansion of about $100K. This means their cash position is relatively flat as compared to year end, so with quarter closing soon, if revenue is paid on some contracts, we could see cash flow positive status again 6) Government contracts are not imminent. They were invited to present to a number of ministries, and things went very well, however they are not currently involved in government negotiations, but likely are at the top of the list when the government wants to take something on 7) High Eye will contribute to Q2 revenue, and is ramping up significantly to contribute to Q3 revenue. Things are happening here. Very important is that High eye is working on potential recurring contracts. And example provided was surveying gravel pits on a monthly basis to determine inventory levels and such. An example of the type of recurring contract they could acquire. This is a priority AIR Acquisition: the acquisition is working its way through the lawyers on both ends. Both parties are happy and looking forward to a final deal, which it would appear is not far off. The record sized contract they recently inked was pushed to them from AIR due to AIR being literally too busy to service it. Mike confirmed that the revenue on AIR is in line with the revenue on pioneer, so I would assess this to mean that we will double revenue once the deal is done. Additionally, of importance is that the rolodex that comes with AIR is DIFFERENT than UAV currently has, so these are NEW customers that would not have been bid on previously by UAV, so truly new revenue Nova: There are now 5 engineers working for Nova, and they have orders and potential orders. Expecting that Q3 will start to see the revenue from this division The Writedowns: In the recent financials, we could see a number of writedowns which concerned the market. These are not as concerning as one might think. In the case of the Pioneer acquisition, the company acquired the ASSETS of Pioneer rather than the legal entity. As it was explained to me, when buying the assets, you CANNOT claim any of the goodwill as an asset. Things like client lists, company name, expected future revenue, etc. ended up having to be written down. This doesn't mean that they overpaid for these companies, it's simply an accounting issue That's all for now, but I'll share more updates as they pop back into my head. Cheers to all the longs

[theGamble]

Thanks for the post. Lots of great insight here. Normally when I read stuff like this I question the integrity of the poster... But after checking your profile, I have no concerns. Your track record looks solid. Very much appreciated - Thank you!

[JohnnCash]

Awesome! Thank you for taking the time to reach out to management and reporting back to us. Unfortunate to hear there is no government interest but I'm not surprised. The company is too young and unproven to take on such contracts in my opinion.

[LoganKM]

No worries. I generally don't post much on SH as I tire of the pumping and bashing. Every once in a while something is worth reading, but most of the is garbage. I'm much more fond of calling companies myself and formulating my own opinions. This one I feel is a long term winner

[divot111]

Should see a nice sell off tomorrow with that update. Bunch of what ifs, maybes and excuses for less than anticipated performance imho. And the big kicker for what I believe will be a big sell off tomorrow is no government involvement. That is the main reason for some here sticking around and now that we know that isn’t even on the table a lot will exit imho. Sad, just sad. They need to start

[Empower]

This post has been removed in accordance with Community Policy

[divot111]

Ya ya, the bottom was at .25, .23, .21, .20, .18, .16, .14 ..12 etc etc etc and everyone who didn’t say so was an idiot then too. See you below .10 tomorrow. Common sense says so since the govt contracts were coming at anytime and we wouldn’t want to be not holding shares when the halt comes. Blah blah blah, initiate sell off. The catalyst is not on the table according to this posters update from

[Petitesound]

How much did you lose? We will help you through your loss. We love you and UAV does too. So what if it goes down tomorrow. You can't day trade this sh1t

[theGamble]

Hey Divot! Happy to see my favourite bear is still here ;-) I would respectively disagree with you. I think most of us who are looking forward to a government contract recognize the natural progression to getting there: BVLOS license Demonstrated and proven BVLOS capabilities Government contract I personally don't see the shared insight that we're not jumping directly to 3 as

[LoganKM]

Well that's an interesting interpretation of my post. I'm also flattered you think my little post on stockhouse has so much power to m9ve the market! Overall I feel very good with my investment here. They are doing a ton and expanding significantly. I'm quite excited for the future

[young_spanky]

This post has been removed in accordance with Community Policy