Drone USA Inc (OTCMKTS: DRUS) is exploding up the charts after announcing its subsidiary, Howco Distributing received approximately 1.6 million in contracts in the last eleven days from the US Defense Logistics Agency. In addition, the Howco team visited Columbus, Ohio to explore using a secondary packaging option which will help us package our mid-west and east coast supplier products and visited with the Defense Logistics Land and Maritime contract post-award team and members of the small business administration office.
DRUS is one exciting Company with huge government contracts, massive revenues and a large shareholder base who continue to buy up the float.
Bantek, Inc. (OTCPINK: DRUS), headquartered in Pine Brook, NJ., consists of three separate divisions. First, through Howco Distributing Co., we sell products primarily to U.S. Department of Defense. Second, through Drone USA we sell drone programs, which consists of drones, training, COA’s and waivers and other drone-related services, to law enforcement, firefighters, security companies, local, state and our US government. Third, we sell insulation jackets, slates, and insulation services to hospitals, universities, and manufacturers.
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.
DRUS exploded in July after the Company said its subsidiary, Howco Distributing Co was awarded a three year 1.7 million dollar contract from the US Government’s Defense Logistics Agency with an option to extend for an additional two years for trailer support components. This contract was awarded an extension worth a total of $2.8 million.
Howco Distributing, a subsidiary of Drone USA, Inc., is a premier supplier of spare and replacement parts to a wide variety of Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in Vancouver, Washington, Howco’s services encompass bid solicitation, contract management, packaging and logistics for construction, transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.
To Find out the inside Scoop on DRUS Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
Since then the Company has been reporting once huge contract after another; Howco Distributing Co. received a $659,000 dollar contract to supply the U.S. Government with diesel cylinder heads. The Company also received a purchase order to supply Kentucky’s Department of Abandoned Mine Lands with a surveillance/inspection drone.
Of the $1.5 million in governemtn contracts;
Michael Bannon, Bantek’s Chief Executive Officer, commented, “We are continuously exploring different ways to increase our sales with the U.S. government. When visiting Ohio, we paid a visit to a well-established and capable packing company that can help us more efficiently and at a lower cost package our mid-west and eastern supplier products. We were thoroughly impressed with their operation and we look forward to working with them.”
Matt Wiles, Howco’s COO stated, “We recently had an excellent visit with the DLA Land and Maritime in Columbus, Ohio including members of the post-award contract team, and members of the small business administration office. These meetings were productive and helped Howco understand how we can better serve the needs of the DLA and support our troops.”
Lindsay Somics, Howco’s Vice President of Business Development, stated, “During our recent trip to Ohio, we were informed that Howco had a best in class on-time shipping performance rating of 93.4% with the DLA. On-time delivery is something we pride ourselves on and as we grow, to make sure we continue with the pattern we have established we have enlisted a secondary packaging house to support our growing business. This will allow us to reduce freight costs and increase margins on items where we didn’t have a competitive edge.”
Howco Distributing, a subsidiary of Bantek, Inc., is a premier supplier of spare and replacement parts to a wide variety of Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in Vancouver, Washington, Howco’s services encompass bid solicitation, contract management, packaging and logistics for construction, transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.
We have a Monster Pick Coming. Subscribe Right Now!
Currently running up the charts DRUS has little cash $1.3 million in account receivables, $5.7 million in assets and a significant debt problem with $15 million in current liabilities that has resulted in massive dilution and continues to stifle any significant move. But DRUS is an exciting story developing in small caps; the Company has multiple lucrative government contacts and is a revenues powerhouse reporting $3,951,254 for the 3 months ended June 30, 2018. There is also huge demand for DRUS at current levels,. We will be updating on DRUS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with DRUS.
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in DRUS either long or short and we have not been compensated for this article.