Bantek, Inc. (OTC Pink: BANT) primarily operates within distribution, marketing, and sale of drones and drone training to the U.S. government, environmental/construction companies, and more. Shares of the drone company are jumping 33.33%, through early trading on Monday, May 20, 2019. Over the past month, Bantek has seen average daily volume of 25.97 million shares. However, volume of 93.13 million shares or dollar volume of $37,252, has already exchanged hands during early trading on Monday.
Shares of Bantek are rallying on Monday, after the company announced that it has entered into a distribution agreement with Drones By US. Drones By US markets and sells high-performance drone systems that are consumer-friendly and easy to use. The two companies will look to continue expanding into other industries, such as law enforcement, real estate, facility management, maintenance managers, and more. Here is the full press release detailing if the distribution agreement:
Bantek, Inc. Press Release:
PINE BROOK, NJ / ACCESSWIRE / May 20, 2019 / Bantek, Inc. (OTC PINK: BANT) (“Bantek” or the”Company”), a distributor of products to the U.S. Government, an environmental/construction services provider and reseller of drones and drone training, today announced the signing of a distributor agreement with Drones by US.
Michael Bannon, Bantek’s Chief Executive Officer, commented, “We are excited to work with Drones by US. The police we work with love their DBUS2 drones. Being lightweight, pocket sized and coupled with VIO technology, officers can deploy, either indoors or outdoors, into action in under one minute. Officers can utilize the DBUS2 to scope out the dangerous areas before putting themselves in harm’s way. Police departments we work with have committed to add the DBUS2 to their drone arsenals. We also see this drone being popular with facility managers, maintenance managers and real estate agents. One university manager purchased the DBUS2 so he could look easily look at inaccessible roofs, staging areas and other places that would require expensive lifts, staging or dangerous ladders to observe. Also, unlike other drones, the DBUS2 is not geo-fenced allowing lawfully licensed pilots to fly quickly and uninterrupted without enduring time-consuming and often annoying steps that sometimes prove fruitless and frustrating.
Not only do we like Drones by US products for our current customers, we are also exploring other strategic initiatives with them.”
About Drones by US
Drones by US sources, markets and sells ultra-high-performance and fun small unmanned aircraft systems (UAS). Consumer friendly with easy-to-use apps and flight controllers, they are compact for travel most anywhere. Drones by US employs cutting-edge technologies such as visual-inertial odometry navigation for greater accuracy in “follow me” tracking and obstacle avoidance along a flight path.
For additional information about Drones by US, please visit: www.dronesbyus.com
About Bantek, Inc, Inc.
Bantek, Inc. (OTC: BANT), headquartered in Pine Brook, NJ., consists of three separate divisions. First, through Howco Distributing Co., we sell products primarily to U.S. Department of Defense. Second, through Drone USA we sell drone programs, which consists of drones, training, COA’s and waivers and other drone-related services, to law enforcement, firefighters, security companies, local, state and our US Government. Third, we sell insulation jackets, slates, and insulation services to hospitals, universities, and manufacturers.
For additional information about Bantek, Inc. and its businesses, please visit:
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes” or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.