UAVS AgEagle Aerial Systems Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): August 22, 2024

 

AGEAGLE AERIAL SYSTEMS INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada		001-36492		88-0422242
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

8201 E. 34th Cir N, Suite 1307, Wichita, Kansas		67226
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (620) 325-6363

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		UAVS		NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01. Regulation FD Disclosure.

 

On August 22, 2024, AgEagle Aerial System, Inc. (the “Company”) issued a press release to report recent update on sales of its sensors and sensor-related accessories. A copy of that press release is furnished with this report as Exhibit 99.1. On August 22, 2024, the Company issued a press release to clarify what portion of such sales were shipped and what portion remains subject to open purchase orders as of the press release date. That updated release is furnished with this report as Exhibit 99.2.

 

The information furnished under this Item 7.01, including the exhibits, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)

Exhibits.

 

Exhibit Number		Description
99.1		Press Release, dated August 22, 2024.
99.2		Press Release, dated August 22, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Dated: August 22, 2024	AGEAGLE AERIAL SYSTEMS INC.
	By:	/s/ Mark DiSiena
	Name:	Mark DiSiena
	Title:	Chief Financial Officer

 

 

 

Exhibit 99.1

 

 

AgEagle Aerial Systems Provides Positive Update on Sensor Sales

 

From July to mid-August sensor and sensor-related sales total $833,610

 

WICHITA, Kan. – August 22, 2024 – (Globe Newswire) – AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announces the Company has sold $833,610 of sensors and sensor-related accessories through its vast network of Value Added Resellers (“VAR”) from July 1, 2024 to Aug 15, 2024. The Company closed sales of 87 sensors, including RedEdge-P, Altum-PT and RedEdge-P dual sensors and a variety of accessories.

 

Bill Irby, AgEagle President, stated, “We are grateful for the accretive growth achieved through our trusted VAR network as the Company achieves another notable sales milestone. Our best-in-class multispectral, panchromatic and thermal sensors are now integrated in over 150 different drones worldwide and distributed in over 70 countries. As our sensor products continue to fulfill the diverse needs of our commercial and government customers, we look forward to pursuing growth across our entire product line to best position the company for long-term shareholder value.”

 

Altum-PT™ - Optimized 3-in-1 solution for advanced remote sensing and agricultural research. Seamlessly integrates a 12 MP high-resolution panchromatic sensor, a thermal sensor, and five discrete spectral bands. NDAA compliant.

 

RedEdge-P™ - High-resolution multispectral and RGB sensor features a high-resolution panchromatic band for pan-sharpened output resolutions of 2 cm / 0.8 in at 60 m / 200 ft. Its five narrow multispectral bands with scientific-grade filters make it the perfect camera for calculating multiple vegetation indices and composites.

 

RedEdge-P dual™ - Features 10 spectral bands for enhanced data comparison with satellites. High-resolution multispectral and RGB composite drone sensor for plants classification, weeds identification, environmental research and conservation, and vegetation analysis of water bodies.

 

About AgEagle Aerial Systems Inc.

 

Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.

 

Forward-Looking Statements

 

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, our ability to fulfill all orders, the timing of completion of orders, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law. 

 

AgEagle Aerial Systems Contacts:

 

Investor Relations Email: UAVS@ageagle.com

Media Email: media@ageagle.com

 

 

 

Exhibit 99.2

 

 

(UPDATED) AgEagle Aerial Systems Provides Positive Update on Sensor Sales

 

From July to mid-August sensor and sensor-related purchase orders total approximately $800,000

 

WICHITA, Kan. – August 22, 2024 – (Globe Newswire) – AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announces the Company has received numerous purchase orders totaling approximately $800,000 of sensors and sensor-related accessories through its network of Value Added Resellers (“VAR”) from July 1, 2024 to Aug 15, 2024, of which approximately $600,000 has shipped to date. The Company received purchase orders for 87 sensors, including RedEdge-P, Altum-PT and RedEdge-P dual sensors and a variety of accessories, of which 67 sensors have shipped to date.

 

Bill Irby, AgEagle President, stated, “We are grateful for the growth achieved through our trusted VAR network as the Company achieves another notable sales milestone. Our best-in-class multispectral, panchromatic and thermal sensors are now integrated in over 150 different drones worldwide and distributed in over 70 countries. As our sensor products continue to fulfill the diverse needs of our commercial and government customers, we look forward to pursuing growth across our entire product line to best position the company for long-term shareholder value.”

 

Altum-PT™ - Optimized 3-in-1 solution for advanced remote sensing and agricultural research. Seamlessly integrates a 12 MP high-resolution panchromatic sensor, a thermal sensor, and five discrete spectral bands. NDAA compliant.

 

RedEdge-P™ - High-resolution multispectral and RGB sensor features a high-resolution panchromatic band for pan-sharpened output resolutions of 2 cm / 0.8 in at 60 m / 200 ft. Its five narrow multispectral bands with scientific-grade filters make it the perfect camera for calculating multiple vegetation indices and composites.

 

RedEdge-P dual™ - Features 10 spectral bands for enhanced data comparison with satellites. High-resolution multispectral and RGB composite drone sensor for plants classification, weeds identification, environmental research and conservation, and vegetation analysis of water bodies.

 

About AgEagle Aerial Systems Inc.

 

Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.

 

Forward-Looking Statements

 

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, our ability to fulfill all purchase orders, the timing of completion of purchase orders, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

 

AgEagle Aerial Systems Contacts:

 

Investor Relations Email: UAVS@ageagle.com

Media Email: media@ageagle.com

 

 

v3.24.2.u1

Cover	Aug. 22, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 22, 2024
Entity File Number	001-36492
Entity Registrant Name	AGEAGLE AERIAL SYSTEMS INC.
Entity Central Index Key	0000008504
Entity Tax Identification Number	88-0422242
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	8201 E. 34th Cir N
Entity Address, Address Line Two	Suite 1307
Entity Address, City or Town	Wichita
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	67226
City Area Code	620
Local Phone Number	325-6363
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	UAVS
Security Exchange Name	NYSEAMER
Entity Emerging Growth Company	false

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