On Wednesday, UAV Corp (OTCMKTS:UMAV) was in the news after the company provided an update with regards to its fully owned subsidiary unit Skyborne Technology Inc. It was announced that Skyborne was going to have a demonstration of its advanced high-definition camera sensor that is going to be on board the scheduled flight later on this year of the semi-rigid Lighter Than Drone SA 70-12.
On Wednesday, UMAV stock ended flat at $0.0110 with 3.95 million shares, compared to its average volume 380.25K shares. The stock moved within a range of $0.0093 – 0.0140 after opening trade at $0.0140.
UAV CORP (UMAV) To Demonstrate Israel Aerospace Industries, Ltd.’S HD Camera Sensor Payload On Upcoming Test Flights
It was a significant new announcement from the UAV subsidiary and one that could be of interest to investors as well. The camera in question is manufactured by the TAMAM division of the Israel based Aerospace Industries Ltd and the model is MOSP3000-HD SYSTEM.
It was further noted that Skyborne had been collaborating for the same with Stark Aerospace Inc, which is the United States subsidiary of TAMAM. Michael Lawson, who is the Chief Executive Officer of Skyborne spoke about the matter as well. He noted that the company was quite excited at having struck up a working relationship with Stark Aerospace for taking the aforementioned HD camera model to a global market.
The demonstration in question will happen under the auspices of a program sponsored by the State of Florida related to disaster relief.
“We are quite excited to have a working relationship with Stark Aerospace, Inc. to explore global usage of the MOSP3000-HD system and other systems,” stated Michael Lawson, CEO of Skyborne Technology. Specifically, the MOSP HD camera sensor payload will be demonstrated for Disaster Relief aerial communication efforts under a State of Florida program through the Triumph Fund and Gulf Coast College.
UMAV stock is trading below the 20-Day and 50-Day Moving averages of $0.0168 and $0.0212 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0635.