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Unusual Machines, Inc. (NYSE:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced it had formalized its contract for Allan Evans to continue to serve as CEO following Unusual Machine's Board of Directors unanimous approval for two years.
The contract follows a rapid series of business developments since Dr. Evans became the CEO less than six months ago. Since his initial appointment, Unusual Machines successfully listed on the NYSE American, acquired Rotor Riot and Fat Shark from Red Cat Holdings, reincorporated in Nevada, and joined the Red Cat Futures Initiative as part of the Company's expansion into the U.S. government segment of the market.
"It's been a whirlwind of energy and excitement as we work to grow as fast as we possibly can," said Dr. Evans, CEO of Unusual Machines. "Our team is fully bought-in to the mission, and we are well-positioned to drive growth with a focus on getting to cash flow positive. I believe in what we are doing, where we are going, and who we are doing it with."
The Company continues to show strong growth with its existing operations from the acquisitions of Rotor Riot and Fat Shark. Unusual Machines is developing drone components to be manufactured in compliance with the National Defense Authorization Act (NDAA) with a focus on U.S.-based production. The Company expects to release a U.S.-made flight controller for FPV drones during the second quarter of 2024 that will be eligible, through the Company's partners, for Blue UAS certification, a U.S. Department of Defense program certifying drones approved for government use.
"Allan's leadership has propelled us forward at an unprecedented pace," added Andrew Camden, Chief Operating Officer of Unusual Machines. "His strategic foresight is transforming our operations, enabling us to tackle new markets and achieve ambitious goals with precision and confidence. It is exciting working with Allan. His dedication to innovation and excellence is driving our team to new heights of success in this burgeoning industry."
Brian Hoff, Chief Financial Officer of Unusual Machines, added, "The Company has gone through a tremendous amount of change in the last couple of months. Starting with Allan joining the Company, he made an immediate and positive impact through his leadership and fostering of a strong culture. He has a clear vision and path forward for the Company that positions us to fill a big need within the industry, and I look forward to partnering with him for years to come."
The Company changed its independent registered accounting firm to Salberg & Company, P.A. ("Salberg"), as previously announced in an 8-K filed with the SEC on April 16, 2024. Mr. Hoff added, "We are excited to have retained an experienced audit firm like Salberg as the Company moves forward. We have been working diligently to complete our quarterly review procedures and anticipate filing our required quarterly report with the SEC on time."
Posted In: UMAC
