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Drone USA, Howco; the Rise of Bantec Inc (OTCMKTS: BANT)

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Bantec Inc (OTCMKTS: BANT) is skyrocketing up the charts on record volume trading over $20 million in dollar volume on Tuesday alone as the stock goes into full beast mode and well into penny land. Droens are a great place to be in 2021 with the commerical drone market doubling in size to $4 billion.

BANT is fully reporting filling their 10k last week as well as announcing its subsidiary Drone USA received purchase orders to supply Atlantic City’s Fire and Emergency Management Departments with drones. BANT is a wholesale vendor to the Department of Defense through its wholly owned subsidiary, Howco and is directly involved in distribution and integration of advanced low altitude UAV systems, services and products. Last year BANT inked several government contracts including an $825,000 contract with the department of defense. According to the 10k BANT does have significant debt on the books and booked $4,455,186 in sales for the year ended 2020.

Bantec Inc (OTCMKTS: BANT) a product and services company, through its subsidiaries and divisions, sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments and the US government. BANT difference that matters consists of establishing lifelong customer and supplier friendships, responding immediately to our customers’ needs, and providing products and services through a highly technically trained, motivated, and incentivized workforce.

The Company’s subsidiary Drone USA offers full-service drone consulting, from helping you purchase the right UAVs and accessories to getting you trained, practiced, and licensed. Whether you are a private security team, police force, or government department, our huge selection of drone technology and training programs will ensure that your team flies smarter, safer, and with the precision of seasoned drone pilots.

Microcapdaily reported on BANT last year after the Company acquired Howco, a supplier of spare and replacement parts to the United States Federal Government and commercial customers worldwide with expertise in Defense Logistics Agency, TACOM, NECO and other Department of Defense acquisition groups. Howco understands the entire contract and administration management process for Federal Government contracts and supply chain logistics for its Federal Government customers as well as prime contractors with Federal Government contracts. The customers were the Defense Logistics Agency-Columbus, and Defense Logistics Agency-Richmond, respectively.

BANT is a wholesale vendor to the Department of Defense through its wholly owned subsidiary, Howco and is directly involved in distribution and integration of advanced low altitude UAV systems, services and products. Both the wholesale vendor and the integration/distribution aspects of the Company’s business have been affected due to the COVID-19 social distancing requirements mandated by the federal, state and local governments where the Company’s operations occur. For some businesses, like the Company’s, much of the integration and distribution of its core products and delivery of its core services cannot always be done through “virtual” means, and even when this is possible, it requires significant capital and time to achieve. During the year ended September 30, 2020 sales and shipments at Howco have continued at a lower rate than during the year ended September 30, 2019. It is anticipated that there may be a higher impact of the COVID-19 being realized during the year ended September 30, 2020, however the Company cannot assess the financial impact of the related COVID-19 restrictions as compared to other economic and business factors.

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BANT

Microcapdaily was reporting on Drone USA DRUS back in 2018, before the Company named Drone USA a wholly owned subsidiary and changed their name to Bantec Inc. We stated at the time:  The Company is engaged in the testing, distribution, exportation, and integration of advanced low altitude UAV systems, services and products. Drone also provides product procurement, distribution, and logistics services through its wholly-owned subsidiary, Howco Distributing Co., to the United States Department of Defense and Defense Logistics Agency. The Company has operations based in West Haven, Connecticut and Vancouver, Washington. The Company is registered with the U.S. State Department and has met the requirements of the Arms Export Control Act and International Traffic in Arms Regulations (“ITAR”). The registration allows for the Company to apply for export, and temporary import, of product, technical data, and services related to defense articles. The Company continues to seek strategic acquisitions and partnerships with UAV firms that offer superior technologies in high-growth markets, as well as acquisitions and partnerships with firms that have complementary technologies and infrastructure.

On January 14 BANT reported its subsidiary Drone USA received purchase orders to supply Atlantic City’s Fire and Emergency Management Departments with drones.

Michael Bannon, Bantec’s Chairman and CEO, stated: “We are excited to supply Atlantic City’s Fire and Emergency Management Departments with the right drone equipment. Drones provide a great and effective tool that ultimately help first responders perform their jobs more efficiently. One drone, equipped with payload and night vision capabilities, will be used to drop automatic flotation devices to swimmers in distress. To quote Elon Musk “The fighter jet era has passed.” There is great wisdom in this statement. Drones and robots in many ways will change the way we accomplish our daily tasks.”

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BANT is skyrocketing up the charts on record volume trading over $20 million in dollar volume on Tuesday alone as the stock goes into full beast mode and well into penny land. BANT is fully reporting filling their 10k last week as well as announcing its subsidiary Drone USA received purchase orders to supply Atlantic City’s Fire and Emergency Management Departments with drones. BANT is a wholesale vendor to the Department of Defense through its wholly owned subsidiary, Howco and is directly involved in distribution and integration of advanced low altitude UAV systems, services and products. Last year BANT inked several government contracts including an $825,000 contract with the department of defense. According to the 10k BANT does have significant debt on the books and booked $4,455,186 in sales for the year ended 2020. We will be updating on BANT on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with BANT.

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Disclosure: we hold no position in BANT either long or short and we have not been compensated for this article.

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