Placement through IG went through on Friday, will be interesting to see where this one goes as there is a lot of interest in UUV, and at close to $1m in sales, good to see positive revenue early on. Am not really convinced on the size of expansion within the military sector, several UUV have specifically been designed for the intended purposes needed through military contractors. From that perspective licensing the technology would provide recurring revenues and cut out the hassles of dealing with the capital resources needed for production, distribution and labor costs, at the end of the day increasing your bottom line.
A good example of this is the Sea Rescue Streamer as seen on S8E22 of Shark Tank, obviously different product at a much lower cost and application, but the perspective of licensing makes a lot more sense in a product that is sold at a significantly higher price in my opinion.
From a recreational and commercial application outside of military use, in the areas of marine science, diving, boating, and tourism I can see much more potential. Imagine a lot of people who utilize patron to fund water based activities may have an interest in the recreational models, a lot of them already spend profits on video equipment and aerial drones, so this could logically be the next progression.
UUV Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
