April 27, 2020 / 6:01 AM / a month ago

BRIEF-Delta Drone Q1 Consolidated Revenue Down At 3.7 Million Euros

April 27 (Reuters) - DELTA DRONE SA:

* CONSOLIDATED REVENUE FOR Q1 OF 2020 FINANCIAL YEAR WAS OF EUR 3.7 MILLION

* LATEST ORNAN AGREEMENT, SET UP AT END OF LAST YEAR, HAS ENDED AS ALL BONDS HAVE BEEN CONVERTED

* DESPITE VARIOUS LIMITATIONS ATTRIBUTABLE TO CURRENT CRISIS, RESEARCH AND DEVELOPMENT AND SALES DEVELOPMENT ACTIVITIES HAVE INTENSIFIED

* ON THE DATE OF THE GENERAL MEETING, THE GROUP’S CASH POSITION WAS OF €2.3M, €0.5M OF WHICH WAS HELD BY DELTA DRONE SOUTH AFRICA

* POTENTIAL SOURCE OF ADDITIONAL FINANCING IS THEREFORE IN LINE WITH FINANCING PLAN REQUIRED FOR IMPLEMENTATION OF 2020 - 2021 PLAN

* RAPPROCHEMENT OF DELTA DRONE SOUTH AFRICA WITH AUSTRALIAN COMPANY PARAZERO LTD IS PROCEEDING AS PLANNED

* ALTHOUGH GOALS REMAIN UNCHANGED, TIMING MAY ENCOUNTER DELAYS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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