Bantec Inc. (OTCMKTS: BANT) is moving in a range after announcing that Drone USA, its subsidiary, has received a purchase order from the New Jersey Fire Department to supply it with rescues and search infrared imaging drones.
Trading Data
On Wednesday, BANT stock fell 4.35% to $0.0011 with more than 51.41 million shares, compared to its average volume of 36.19 million shares. The stock has moved within a range of $0.0010 – 0.0013 after opening trade at $0.0012.
Bantec’s Drone USA Receives Purchase Order to Ultra High-Tech Thermal Drone to a Coastal New Jersey Fire Department
Chief executive officer and Chairman of Bantec Michael Bannon said that they believe drones will become an essential search-and-rescue tool, rendering rescue operations more effective and safe for rescuers. The drone is fitted with a high infrared, superzoom camera, with 55 minutes of flying time, ideal for rescue operations. Interestingly the drone can fly up to 9 miles before it loses a signal and is fitted with advanced tracking tech that allows it to track and lock on to lost people.
All of these qualities combine to make the drone a must-have search-and-rescue equipment. The company hopes to sell this sort of drone to various departments, generating more revenue in this year and beyond. So investors should watch BANT in the coming weeks.
Key Quote
Michael Bannon, Bantec’s Chairman and CEO stated: “We envision drones becoming an integral search and rescue tool, making rescue missions more successful and safer for rescue personnel. This drone, tailored specifically for search and rescue, is equipped with a high-resolution thermal camera, long range zoom camera, and 55 minutes of flight time. This drone travels up to nine miles without losing signal and is equipped with smart tracking technology allowing it to lock on lost individuals and track them. All these features make this drone an indispensable search and rescue tool. We expect to sell this type of drone to other departments, adding yet another revenue stream for 2022 and beyond.”
Technical Data
BANT stock is trading below the 20-Day and 50-Day Moving averages of $0.0012 and $0.0014 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0045. The stock is down 55% in the past 3-month.
