$BANT has a new company plan to market attack-dro
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Bantec, through Howco, is looking into the feasibility of selling attack drones directly to the US Department of Defense
LITTLE FALLS, N.J., May 18, 2022 /PRNewswire/ -- Bantec, Inc. (OTCPINK: BANT) ("Bantec" or the "Company" , Bantec, Inc., a product and services company, announces that it is looking into selling the Bantec Hunter and Bantec Hunter Max, loitering munition attack drones, to the U.S. Government.
Michael Bannon, Bantec's Chairman and CEO stated: "For the first time we are looking to have Howco sell our product to the U.S. Department of Defense. This will add a new revenue stream to Howco's existing business of acting as a middleman for government sales. We engaged with a drone development company, a NATO company, to investigate the costs and logistics involved in manufacturing battery and fuel operating drones that will deliver explosive devices to eliminate enemy combatants and armed military vehicles. The drones will likely be called the Bantec Hunter and Bantec Hunter Max. Both, when developed, will be able to be used for surveillance and reconnaissance or a one-time kamikaze style mission. We are also investigating the permits and licenses necessary for Howco to enter this market. In light of the current political climate, we believe this has the potential of generating additional sales for Howco in 2022 and beyond."
Bantec, Inc, a product and services company, through its subsidiaries and divisions, sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments, and the US government. Our difference that matters consists of establishing lifelong customer and supplier friendships, responding immediately to our customers' needs, and providing products and services through a highly technically trained, motivated, and incentivized workforce.
Howco Distributing Co., ("Howco" , a wholly-owned subsidiary of Bantec, provides product procurement, distribution, and logistics services to the United States Department of Defense and Defense Logistics Agency.
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-K filed with the U.S. Securities and Exchange Commission.
Chairman & CEO
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