Core Insights - ZenaTech, Inc. is advancing its projects in drone swarms, US military applications, and quantum computing, which will be showcased at three upcoming investor conferences [1][2] - The company emphasizes the importance of intelligent, networked systems in modern military warfare, moving beyond traditional reliance on brute force [2] Company Overview - ZenaTech specializes in AI drones, Drone as a Service (DaaS), enterprise SaaS, and quantum computing solutions for mission-critical applications [6] - The company has been enhancing its drone design and manufacturing capabilities through its subsidiary, ZenaDrone, since 2017 [6] - ZenaTech's solutions are utilized across various sectors, including law enforcement, health, government, agriculture, defense, and logistics, driving operational efficiencies and cost savings [6] Upcoming Conferences - ZenaTech will participate in the Maxim Group Virtual Tech Conference on June 4, 2025, focusing on AI and quantum computing innovations [3] - The MicroCap Rodeo Investor Conference will take place on June 6, 2025, providing a platform for ZenaTech to connect with institutional investors [4] - The CEM Bermuda Capital Event will occur from June 7-9, 2025, where ZenaTech's executives will engage in investor meetings [5] Product Innovations - ZenaDrone, a subsidiary of ZenaTech, develops autonomous drone solutions incorporating machine learning, AI, and quantum computing [7] - The ZenaDrone 1000 is utilized for crop management in agriculture and critical field cargo in defense, while the IQ Nano is designed for inventory management and security [8] - The IQ Square drone serves both indoor and outdoor applications for land surveys and inspections in commercial and defense sectors [8]

Core Insights - Draganfly Inc. has announced the first deliveries of its Flex FPV systems to a major U.S. military contractor, marking a significant milestone for the platform [1][4] - The Flex FPV system features a modular core architecture that allows for quick adjustments in arm and propeller sizes, enhancing its versatility for various mission profiles [2] - The system can achieve speeds over 149 kilometers per hour and carry payloads up to 10 lbs, making it suitable for high-intensity environments [3] Company Overview - Draganfly Inc. is recognized as a global leader in drone technology, AI, and autonomous systems, with over 25 years of experience in providing innovative solutions across multiple sectors including public safety and defense [6] - The Flex FPV system was developed in response to frontline operations in Ukraine and has undergone extensive testing with various defense partners [4] - The company is experiencing increasing demand for its North American-developed UAS platforms as organizations adapt to modern warfare challenges [5]

Group 1 - ZTE Corporation has launched a "Low Altitude Industry Ecosystem Platform" in Shenzhen, aiming to create an industry think tank and project consortium with the participation of 32 companies across the supply chain [2][3] - The platform includes manufacturers of aircraft, payloads, and components in the upstream, infrastructure service providers in the midstream, and logistics, urban governance, and emergency rescue services in the downstream [3] - The initiative reflects a shift in the low-altitude economy from individual efforts to collaborative ecosystem building, addressing the challenges of coordination as drone usage increases [2][3] Group 2 - The concept of "All-Space" expands the low-altitude economy to a more integrated system encompassing land, sea, air, and cyberspace, as discussed at the recent World Drone Conference [4][5] - Shenzhen has launched an "All-Space Unmanned System Procurement Platform" to facilitate the supply-demand connection for drones, unmanned vehicles, and ships, emphasizing a one-stop service approach [5] - The city plans to establish over 1,200 low-altitude takeoff and landing points, supported by a robust policy framework and significant investment in the aerospace industry [6]

Core Viewpoint - A class action lawsuit has been filed against Red Cat Holdings, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from March 18, 2022, to January 15, 2025, seeking damages for misleading statements regarding the company's business and operations [1][7]. Group 1: Lawsuit Details - The class action was filed in the United States District Court for the District of New Jersey, seeking to recover damages for all persons and entities that purchased Red Cat securities during the Class Period [1]. - Investors have until July 22, 2025, to request to be appointed as Lead Plaintiff for the class [2]. Group 2: Company Operations - Red Cat, through its subsidiary Teal Drones, Inc., manufactures drones, including the "Teal 2," designed for military operations [4]. - The Salt Lake City Facility was claimed to have the capacity to produce "thousands of drones per month" or "tens of thousands of drones per year" [5]. Group 3: Contract and Financial Performance - In March 2022, Red Cat was selected by the U.S. Department of Defense to compete in the Short Range Reconnaissance Program, with the contract potentially worth hundreds of millions to over a billion dollars [6][7]. - During a conference call on July 27, 2023, it was revealed that the Salt Lake City Facility could only produce 100 drones per month, contradicting earlier claims [8]. - Following the disclosure of production capacity issues, Red Cat's stock price fell by 8.93% to close at $1.02 per share on July 28, 2023 [9]. - In Q1 2025, Red Cat reported losses per share of $0.17 and revenue of $2.8 million, missing consensus estimates [10]. - On November 19, 2024, Red Cat announced it had won the SRR Contract, with expectations of generating $50 million to $79.5 million in revenue during fiscal year 2025 [12]. Group 4: Allegations of Misleading Information - The lawsuit alleges that Red Cat's executives made materially false and misleading statements regarding the production capacity of the Salt Lake City Facility and the overall value of the SRR Contract [7]. - A report published by Kerrisdale Capital on January 16, 2025, claimed that the SRR Contract was worth only $20 million to $25 million, significantly lower than previously stated [13]. - Following the Kerrisdale Report, Red Cat's stock price fell by 21.54% to close at $8.56 per share on January 17, 2025 [14].

Core Viewpoint - Red Cat Holdings, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding production capacity and contract values [1][3]. Company Overview - Red Cat Holdings, Inc. provides products and solutions to the drone industry, including the "Teal 2" drone designed for military operations [2]. Allegations of the Lawsuit - The lawsuit alleges that Red Cat overstated the production capacity of its Salt Lake City facility and the value of its Short Range Reconnaissance Program contract [3]. - On July 27, 2023, Red Cat disclosed that its Salt Lake City facility could only produce 100 drones per month, with potential future capacity of 1,000 drones per month contingent on additional investments [4]. - Following this announcement, Red Cat's stock price fell nearly 9% [4]. Financial Performance - On September 23, 2024, Red Cat reported a loss per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing estimates by $1.07 million [5]. - The company admitted that retooling its Salt Lake City facility impacted Teal 2 sales, leading to a stock price drop of over 25% [5]. Additional Allegations - On January 16, 2025, a report from Kerrisdale Capital claimed that the SRR contract was smaller and less favorable than previously indicated by management, resulting in a stock price decline of over 21% [6]. Legal Process - Investors who purchased Red Cat securities during the class period can seek appointment as lead plaintiff in the lawsuit, representing the interests of the class [7].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Red Cat Holdings, Inc. due to allegations of misleading statements regarding the company's production capacity and contract values, which have led to significant stock price declines for investors [2][4][12]. Group 1: Allegations and Legal Actions - The complaint alleges that Red Cat and its executives violated federal securities laws by making false and misleading statements about the production capacity of the Salt Lake City Facility and the overall value of the SRR Contract [4][6]. - Investors who suffered losses from purchasing Red Cat securities between March 18, 2022, and January 15, 2025, are encouraged to discuss their legal rights with Faruqi & Faruqi [1][2]. - A federal securities class action has been filed against Red Cat, with a deadline of July 21, 2025, for investors to seek the role of lead plaintiff [2][14]. Group 2: Company Performance and Stock Impact - Red Cat's stock price fell by $0.10 per share (8.93%) to close at $1.02 on July 28, 2023, following disclosures about the actual production capacity of the Salt Lake City Facility being only 100 drones per month [8][7]. - On September 25, 2024, Red Cat's stock price dropped by $0.80 per share (25.32%) after the company reported losses per share of $0.17 and revenue of $2.8 million, missing consensus estimates [10][9]. - After Kerrisdale Capital published a report on January 16, 2025, alleging that the SRR Contract was worth only $20 million to $25 million, Red Cat's stock price fell by $2.35 per share (21.54%) to close at $8.56 on January 17, 2025 [12][13]. Group 3: Company Background and Initiatives - Red Cat was selected by the U.S. Department of Defense's Defense Innovation Unit to compete in the SRR Program, aimed at providing small, portable sUAS to U.S. Army platoons [5]. - The company has claimed that the SRR Contract could potentially generate hundreds of millions in revenue, with expectations of $50 million to $79.5 million in revenue during fiscal year 2025 [11].

Core Viewpoint - Red Cat Holdings, Inc. is under investigation for possible securities fraud, with a potential class action being considered for investors who suffered losses [1][2]. Company Developments - In March 2022, Red Cat's subsidiary, Teal Drones, was selected for the U.S. Army's Short Range Reconnaissance Program [3]. - The fiscal year 2023 results revealed that Red Cat's Salt Lake City facility was only "substantially completed," with a current production capacity of 100 drones per month, and full capacity of 1,000 drones expected to take 2-3 years and require additional capital [4]. - In the first quarter of fiscal 2025, Red Cat missed analyst expectations, attributing this to a retooling of the Salt Lake City facility and a pause in manufacturing, leading to a significant stock price drop of 25.3% [5]. - On November 19, 2024, Red Cat announced securing a contract with the U.S. Army, estimated to be worth "hundreds of millions," but a subsequent report questioned this valuation, suggesting it was only worth $20-25 million, resulting in a 21.5% stock price decline [6].

SAN DIEGO, May 29, 2025 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025, both dates inclusive (the "Class Period"), have until July 22, 2025 to seek appointment as lead plaintiff of the Red Cat class action lawsuit. Captioned Olsen v. Red Cat Holdings, Inc., No. 25-cv-05427 (D.N.J.), the Red Cat class action lawsuit charges Red Cat and certain of Red Cat's t ...

Core Viewpoint - A securities class action lawsuit has been filed against Red Cat Holdings, Inc. for alleged misrepresentations regarding its production capacity and contract value, leading to significant financial harm for investors [1][6]. Group 1: Class Action Details - The lawsuit is on behalf of all persons or entities who purchased Red Cat securities [1]. - The class period for the lawsuit is from March 18, 2022, to January 15, 2025, with a lead plaintiff deadline set for July 22, 2025 [6]. Group 2: Allegations and Financial Impact - Allegations include misrepresentations about the production capacity of the Salt Lake City Facility, which was revealed to only produce 100 drones per month instead of the expected 1,000 [6]. - The overall value of the SRR Contract with the U.S. Department of Defense was also misrepresented, with potential revenues claimed to be between $50 million and $79.5 million for FY2025, while estimates were later revised down to $20 million to $25 million [6]. - Significant stock price declines were noted, including an 8.93% drop to $1.02 on July 28, 2023, a 25.32% drop to $2.36 on September 25, 2024, and a 21.54% drop to $8.56 on January 17, 2025, following corrective disclosures [6]. Group 3: Legal Representation - Wolf Haldenstein Adler Freeman & Herz LLP, a law firm with over 125 years of experience in securities litigation, is representing the investors in this case [4]. - The firm emphasizes its commitment to justice for investors who have suffered financial harm due to misrepresented statements [4].

Group 1 - A class action has been filed on behalf of investors who purchased Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022, and January 15, 2025 [1] - The allegations include that Red Cat Holdings misled investors regarding its production capacity at the Salt Lake City Facility and overstated the value of the SRR Contract [2] - Kerrisdale Capital reported that the SRR Contract was valued between $20 million and $25 million, significantly lower than previously stated, leading to a 21.54% drop in Red Cat's stock price [3] Group 2 - Shareholders interested in serving as lead plaintiff have until July 22, 2025, to seek this status in the class action [4] - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4] - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses [5]