A Member of Pat McKeough’s Inner Circle recently sought his opinion on a Canadian stock aiming for a breakthrough in a developing field.
Global UAV Technologies began focusing on unmanned aerial vehicles, or drones, in 2017. It has four subsidiaries, each specializing in a different aspect of imaging and surveying. Drones offer a lower-cost alternative to planes and helicopters in this area, says Pat, and the company’s services hold promise, especially in the mining industry. But the company will need intense sales and marketing efforts to establish itself against the competition that is bound to emerge.
Q: May I have your opinion on Global UAV Technologies? It involves drones and new uses for them, I think.
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A: GLOBAL UAV TECHNOLOGIES (symbol UAV on the Canadian Securities Exchange; www.globaluavtech.com) was called Alta Vista Ventures before moving into the unmanned aerial vehicle (UAV), or drone, business in 2017.
While the company changed its name to Global UAV Technologies in May of that year, it maintained its listing on the Canadian Securities Exchange (CSE). That alternative exchange is the former Canadian National Stock Exchange (CNSX).
Global UAV is focused on developing UAVs for a range of uses. Right now, its wholly owned subsidiaries—Pioneer Aerial Surveys, High Eye Aerial Imaging, UAV Regulatory Services and NOVAerial Robotics—aim to provide a range of UAV-based surface and sub-surface imagery.
In other words, the company uses drones to take pictures, conduct aeromagnetic surveys and so on. That work traditionally involves the more-costly use of planes and helicopters. Global UAV also offers online courses to help clients prepare for their Special Flight Operation Certificates (SFOCs). That certification is for those wishing to fly UAVs for recreational and commercial purposes in Canada.
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Global UAV plans to continue its growth by expanding the business of its subsidiaries as well as through acquisitions. The goal is to create an operating group that covers all aspects of the UAV industry.
In the three months ended April 30, 2018, the company reported revenue of $537,153, up from $181,203 a year earlier. It lost $328,670, or or nil per share, in the latest quarter. That’s compared to the loss of $463,994, or $0.01 a share, a year earlier. To cover its losses, Global UAV needs to keep issuing shares at today’s low share prices (the stock is trading at less than 8 cents a share). That dilutes the interest of its current shareholders.
The company’s focus on addressing all aspects of the growing market for airborne surveys—especially in the mining industry—holds appeal. Still, it will take considerable sales and marketing efforts to expand Global UAV’s client base as market profitability rises and more and more competitors emerge.
Meanwhile, the company will likely undertake acquisitions to accelerate its growth, and that will add further risk.
Inner Circle recommendation: We don’t recommend shares of Global UAV Technologies.
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