UAV
Corp. (UMAV) Reduces Authorized Shares by 1.2 Billion,
Demonstrating Commitment to Shareholders
New
Authorized Share Count Approved at 800 Million
WEWAHITCHKA-PORT ST
JOE, FL -- December 17, 2024 -- InvestorsHub NewsWire
-- UAV Corp
(OTC:
UMAV), a leader in innovative manned and unmanned aerial
vehicle (UAV) technologies, today announced a strategic reduction
in its authorized share count. The company's Board of Directors has
approved a decrease in authorized common shares by 1.2 billion,
bringing the total from 2 billion to 800 million shares. This
decision underscores UMAV Corp's commitment to optimizing its
capital structure and creating long-term value for its
shareholders.
This adjustment follows the company's
ongoing efforts to streamline operations, enhance shareholder
value, and position the company for future growth. The reduction is
expected to improve the company's attractiveness to investors and
demonstrate its confidence in the strength of its business strategy
and operational performance.
"Reducing our authorized shares
reflects our commitment to disciplined financial management and our
focus on enhancing shareholder value," said Michael Lawson, CEO of
UAV Corp. "This move aligns with our strategic goals and
underscores our confidence in the company's long-term growth
trajectory. We are dedicated to delivering innovative solutions and
driving profitability for our stakeholders."
This change will be reflected in the
company's amended articles of incorporation, stock ledger, and all
relevant corporate filings. The decision follows recent milestones,
including the joint venture announcement with Atlantic Industrial
Group Inc. (AIG) to establish cutting-edge manufacturing
capabilities at Skyborne Technology's Wewahitchka, Florida
facility. The facility will produce high-efficiency drone models,
including SVTOLs, and develop lightweight airframe components using
advanced 3D printing technology.
The reduction in authorized shares
builds upon UMAV Corp's previous announcements and demonstrates the
company's continued focus on enhancing corporate governance and
operational efficiency. In its last press release, UAV
Corp/Skyborne Technology highlighted its partnership with AIG,
emphasizing the potential to revolutionize the UAV industry through
advanced manufacturing and integration of innovative
technologies.
About
UAV Corp/Skyborne Technology, Inc.
UAV Corp is a premier developer of
manned and unmanned aerial vehicle technology. With decades of
experience specializing in highly maneuverable lighter-than-air
technologies for commercial and government solutions, UAV Corp
focuses on innovation and reliability. It provides cutting-edge
platforms that enhance operational capabilities across various
sectors.
Cautionary
Statement Regarding Forward-Looking Information:
This news release includes certain
"forward-looking statements" under applicable US securities
legislation. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive board,
shareholder or regulatory approvals, where applicable; and the
state of the capital markets. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Contact:
Michael Lawson, CEO
mlawson@uavcorp.net
115 County Road
381
Wewahitchka, Florida
32465
For more information about UMAV Corp
and its innovative technologies, visit: www.uavcorp.net