The stock of UAV Corp. (OTCPink: UMAV) plummeted -5.00% yesterday to conclude the session at $0.0665. A total of 41.33K shares of UAV Corp stock were traded on the day, compared to its average volume of 24.08K over the last 30 days. It would seem that no current news has affected the UMAV stock, so recent developments can provide a better understanding of the UMAV stock.
What happened at UMAV recently?
Communication Aerospace and Environmental Solutions are the focus of UAV Corp., a Research and Development holding company. Government and commercial clients turn to UMAV researchers to solve transformative problems. A range of topics are being explored at UMAV, including advanced communication, Airship and Drone Technology, and analysis of carbon dioxide (CO2) reduction, new energy processes, biomass conversion, and energy-efficient crop and mining management.
A binding MOU was signed between Skyborne Technology (STI) of UAV Corp and Gulf Coast State College (GCSC).
- To advance the technology of the DATT tether-airship, the MOU sought to secure contracts with third parties, including government agencies and commercial companies.
- In order for its UAS Systems for 1st responders to utilize the technology after disasters, a Broadband wireless network will be applied.
- An advanced modular semi-rigid design is under construction for the DATT SA 70-12 tether-airship.
- Currently, aircraft aluminum is used for the hard surfaces of engine, fuel and drone decks. Composite structures can be made from these materials.
- It is scheduled for June 2021 for the hard structures to be integrated onto the airship.
- The leak test for the inner envelope (helium structure) will be conducted late June 2021.
- Flight tests will begin in late summer of 2021 and be performed in three phases.
In what way will it benefit UMAV?
As a result of the growing public-private partnership, UAV Corp (UMAV) is already able to achieve greater growth and provides Skyborne Technology and GCSC with unique revenue opportunities. UMAV and Skyborne Technology are gaining momentum thanks to the ongoing support they have received from the GCSC.