Red Cat's Rotor Riot E-Commerce Store Reports Record Monthly Sales
ORLANDO, Fla., Dec. 22, 2020 /PRNewswire/ -- Red Cat Holdings, Inc. (OTC: RCAT) ("Red Cat" or the "Company"), a leading brand in the drone industry, today announced its Rotor Riot e-commerce store generated record monthly sales in November 2020.
"We are thrilled with Rotor Riot's performance," said Jeff Thompson, CEO of Red Cat.
The Cinewhoop, built and tuned by Rotor Riot, is based on the ShenDrones Squirt, enabling drone operators to experience the HD quality of the DJI system with a professionally built high performance drone.
Rotor Riot's Cinewhoop model was a key revenue driver for the Company in November, accounting for nearly 30% of sales for the month.
"With DJI added to the Department of Commerce's list of Chinese companies prohibited from procuring advanced US technology earlier this month, the opportunity in the drone industry has never been better. Rotor Riot's RTF drones and kits, based on specs from some of the world's top drone pilots, really set us apart in the market and provide a formidable foundation as we look to capitalize on the opening created by the entity-listing of DJI," continued Thompson. "Our US based product lines Fat Shark and Rotor Riot combined with our software platform Dronebox will enable us to serve the United States drone industry, which is the largest drone market worldwide."
About Red Cat
Red Cat is developing a fully integrated drone supply chain with secure blockchain-based distributed storage, analytics and SaaS solutions for adoption in the drone industry. Red Cat supports education, training and sales of drone products through its Rotor Riot platform and is developing the means to accurately track, report and review flight data that will be useful for insurance and regulatory requirements. Red Cat's maintains a commitment to deliver unrivaled innovation to make drones aviators and products accountable and the sky a safer place. For additional information, visit www.redcatholdings.com and www.rotorriot.com.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. The parties do not undertake any obligation to update forward-looking statements contained in this press release.
Contact
Chad Kapper
Phone: ?(818) 906-4701
E-mail: support@rotorriot.com
Website: https://rotorriot.com
Investor Relations Contact
Bruce Haase
RedChip Companies
(407) 712-8965
bruce@redchip.com
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SOURCE Red Cat Holdings, Inc.
