ZenaTech Expands AI Drone Capabilities with Taiwan Subsidiary and Software Acquisitions

ZenaTech Enters the Drone Sensor and Components Market Establishing a New Taiwan Subsidiary to Win More US Defense Contracts for Its AI Drones By Investing.com

TORONTO, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone's products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military. Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities. Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China. The new company is currently at the prototype stage, and the manufacturing facility is expected to be open in November. Establishing a drone sensor and components manufacturer in Taiwan will help bring our products to market faster and removes dependencies on any Chinese made electronics. This will position us to win more US military contracts via achieving Green UAS (Uncrewed Arial Systems) and Blue UAS certifications as an approved supplier, said CEO Shaun Passley, Ph.D. NDAA compliance refers to adhering to the provisions outlined in the National Defense Authorization Act, which is a U.S. federal law that specifies the budget and expenditures for the Department of Defense (DoD). The Blue USA program is a stringent government approved supplier list of drone companies that wish to do business with the DoD; suppliers must meet strict NDAA cyber security and supply chain sourcing requirements. About ZenaTech ZenaTech (Nasdaq: ZENA) is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded software solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products. The ZenaDrone 1000 is an autonomous drone, in a quadcopter design with eight rotors, is roughly the size of a boardroom table, is designed for stable flight, maneuverability, heavy lift capabilities, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial use. It has been used in the agriculture sector enabling smart farming, plant tracking, and crop management. ZenaDrone's products have also been piloted in the field with the US military for delivery of temperature-controlled critical medical supplies. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release and related comments by management of ZenaTech, Inc. include forward-looking statements within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management's expectations and projections regarding ZenaTech's growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as may, will, should, expect, plan, anticipate, aim, seek, is/are likely to, believe, estimate, predict, potential, continue or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech's expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; ZenaTech's ability to deliver products to the market as currently contemplated, including its drone products including ZenaDrone 1000 and IQ Nano; ZenaTech's anticipated cash needs and it's needs for additional financing; ZenaTech's intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech's expected business objectives for the next twelve months; ZenaTech's ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; ability to access additional capital; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech. Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech's management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech's securities should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech's actual future results may be materially different from what is currently anticipated.

ZenaTech to build drone components factory in Taiwan By Investing.com

TORONTO - ZenaTech, Inc. (NASDAQ:ZENA), a company specializing in AI drone solutions, announced the establishment of a new subsidiary in Taiwan, Spider Vision Sensors Ltd., dedicated to manufacturing drone sensors and components. This move is strategically aimed at ensuring their products comply with the US National Defense Authorization Act (NDAA), which is crucial for securing more contracts with the US military. The new company will produce a variety of drone components, including LiDAR, thermal, infrared, multi-spectral and hyper sensors, cameras, and printed circuit boards. This development is intended to provide ZenaDrone, a ZenaTech subsidiary, with a reliable supply chain for its manufacturing facilities in Sharjah, UAE, and the upcoming site in Arizona. Taiwan was chosen for its established electronics industry and the availability of cost-effective alternatives to Chinese components. Spider Vision Sensors Ltd. is currently in the prototype phase, with the manufacturing facility expected to open in November. CEO Shaun Passley, Ph.D., emphasized that the creation of Spider Vision Sensors Ltd. will expedite the market delivery of their products and reduce reliance on Chinese electronics. This strategic move is also aimed at securing Green UAS and Blue UAS certifications, making ZenaTech an approved supplier for the US military. ZenaTech, founded in 2017, has expanded its expertise in software development to include drone design and manufacturing through ZenaDrone. The company serves over 100 enterprise software customers across various sectors, including law enforcement, government, industrial, agriculture, defense, and logistics, enhancing operational efficiencies and cost savings. ZenaDrone's flagship product, the ZenaDrone 1000, is an autonomous drone designed for stability, maneuverability, and heavy lifting, featuring advanced AI and sensor technology. The drones have been tested with the US military for critical medical supply deliveries. This press release contains forward-looking statements within the meaning of U.S. federal securities laws, reflecting management's projections and expectations for ZenaTech's growth and operational performance. The information is based on a press release statement and includes the company's anticipation of future operational needs and its ability to meet production and certification demands. In other recent news, ZenaTech, Inc. has been making significant strides in the drone technology sector. The company announced its intent to acquire ZooOffice Inc., aiming to integrate compliance and inspection software into its drone solutions. ZenaTech has also launched a new product, the ZenaDrone IQ Nano, designed to enhance efficiency in warehousing and logistics. The company's subsidiary, ZenaDrone, has been granted a United States Design Patent for its second-generation drone, the ZenaDrone 1000, enhancing flight times and payload capacity. Furthermore, the company has initiated U.S. flight testing for the ZenaDrone 1000 in Arizona, following recent Federal Aviation Authority (FAA) exemption approval. ZenaTech has also announced strategic promotions within its team to strengthen its growth in the AI drone and SaaS software markets. Philander Franklin and Simon Henry have been appointed as Vice Presidents of Business Development for the Americas and EMEA, respectively. Steve Rhode has been named Director of Software Sales and Customer Support, while Lindsey Bartholomew assumes the role of Director of Administration. These are recent developments in ZenaTech's ongoing growth strategy. The company is also set to benefit from its partnership with Night Sun, a Native American Corporation, with plans to manufacture and sell drones for use by Native American tribes. ZenaTech's strategic move to establish a subsidiary in Taiwan aligns with its ambition to secure more US military contracts, but investors should be aware of the company's current financial position and market performance. According to InvestingPro data, ZenaTech has a market capitalization of $36.52 million, reflecting its status as a small-cap company in the drone technology sector. The company's revenue for the last twelve months as of Q2 2023 stands at $1.41 million, with a concerning revenue decline of 16.14% over the same period. InvestingPro Tips highlight that ZenaTech's stock has experienced significant volatility recently. While the stock has seen a notable return of 10.47% over the last week, it has fared poorly over the past month, with a substantial decline of 76.02%. This volatility underscores the speculative nature of investing in emerging tech companies like ZenaTech. Despite the challenges, ZenaTech maintains a gross profit margin of 100% and an operating income margin of 14.07%, suggesting efficient management of its core operations. However, the company is not currently profitable over the last twelve months, which is common for growth-stage tech firms investing heavily in research and development. Investors considering ZenaTech should note that the stock is trading at high valuation multiples, including EBIT, EBITDA, and revenue. This could indicate market optimism about the company's future prospects, particularly in light of its strategic expansion into Taiwan and potential military contracts. For a more comprehensive analysis, InvestingPro offers 12 additional tips for ZenaTech, providing deeper insights into the company's financial health and market position.

ZenaTech Announces a Software Company Acquisition Adding Significant Capabilities to Building AI Drones

ZenaTech Announces a Software Company Acquisition Adding Significant Capabilities to Building AI Drones TORONTO ZenaTech, Inc. (Nasdaq: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech's former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech's ZenaDrone AI drone solutions. This transaction further expands ZenaTech's portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others. The acquisition is subject to shareholder and regulatory approvals that may be required. "Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian's compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. Deskflex scheduling and mapping software will add value integrated into our property management sector solutions," said CEO Shaun Passley, Ph.D. Jadian is a software and services company that provides comprehensive solutions to manage compliance, audits, inspections, licenses, permits, enforcement, quality assurance, and risk management. The company helps customers in municipal and county governments, health facilities, restaurants and retail services like tattoo shops, manage their regulatory and compliance processes, workflow and reporting. DeskFlex is an AI room booking software company that maximizes every room's potential by transforming fixed-desk traditional office space allocation into a more dynamic desk hoteling or hot desk environment. DeskFlex helps cut real estate investment costs and ensures efficient office space and room occupancy for both complex large and small offices. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products. About ZenaTech ZenaTech (Nasdaq: ZENA) is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release and related comments by management of ZenaTech, Inc. include "forward-looking statements" within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management's expectations and projections regarding ZenaTech's growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "aim", "seek", "is/are likely to", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech's expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; the intention to complete the listing of ZenaTech's common shares on an exchange; the ability to deliver products to the market as currently contemplated; ZenaTech's expectations regarding its revenue, expenses, and operations; ZenaTech's anticipated cash needs and it's needs for additional financing; ZenaTech's intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech's expected business objectives for the next twelve months; ZenaTech's ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; the completion of anticipated acquisitions of assets and patents; ability to access additional capital; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech. Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech's management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech's securities should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech's actual future results may be materially different from what is currently anticipated.

ZenaTech Announces a Software Company Acquisition Adding Significant Capabilities to Building AI Drones - ZenaTech (NASDAQ:ZENA)

TORONTO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. ZENA ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech's former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech's ZenaDrone AI drone solutions. This transaction further expands ZenaTech's portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others. The acquisition is subject to shareholder and regulatory approvals that may be required. "Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian's compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. Deskflex scheduling and mapping software will add value integrated into our property management sector solutions," said CEO Shaun Passley, Ph.D. Jadian is a software and services company that provides comprehensive solutions to manage compliance, audits, inspections, licenses, permits, enforcement, quality assurance, and risk management. The company helps customers in municipal and county governments, health facilities, restaurants and retail services like tattoo shops, manage their regulatory and compliance processes, workflow and reporting. DeskFlex is an AI room booking software company that maximizes every room's potential by transforming fixed-desk traditional office space allocation into a more dynamic desk hoteling or hot desk environment. DeskFlex helps cut real estate investment costs and ensures efficient office space and room occupancy for both complex large and small offices. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products. About ZenaTech ZenaTech ZENA is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Contacts for more information: Company, Investors and Media: Linda Montgomery ZenaTech 312-241-1415 investors@zenatech.com Investors: Michael Mason CORE IR investors@zenatech.com Safe Harbor This press release and related comments by management of ZenaTech, Inc. include "forward-looking statements" within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management's expectations and projections regarding ZenaTech's growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "aim", "seek", "is/are likely to", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech's expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; the intention to complete the listing of ZenaTech's common shares on an exchange; the ability to deliver products to the market as currently contemplated; ZenaTech's expectations regarding its revenue, expenses, and operations; ZenaTech's anticipated cash needs and it's needs for additional financing; ZenaTech's intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech's expected business objectives for the next twelve months; ZenaTech's ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; the completion of anticipated acquisitions of assets and patents; ability to access additional capital; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech. Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech's management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech's securities should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech's actual future results may be materially different from what is currently anticipated. Market News and Data brought to you by Benzinga APIs

ZenaTech's AI Drone Company Acquires Drone Design Patent From Former Parent Company - ZenaTech (NASDAQ:ZENA)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. ZENA ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announces that its subsidiary, ZenaDrone, is acquiring a United States Design Patent for a drone design pertaining to the second-generation drone design used in its ZenaDrone 1000 product. This patent includes changes to the first-generation design to improve flight times and increase the payload capacity. The patent (US D1,005,883 S) was granted by the US Patent and Trademark Office in November 2023 by ZenaTech's former parent company. The patent acquisition is subject to shareholder and regulatory approvals that may be required. Contained in the patent are designs for rotating arms enabling the rotors to operate at different angles, using the wind for gliding and power preservation for longer flight times. The patent also includes designs for a larger, yet sleeker and more aerodynamic body of the drone, which allows payloads to increase from 20 lbs. to 80 lbs. The design also enables the drone to be better utilized for carrying cargo, spraying, seeding, and adding other hardware attachments for specific uses. "The expansion of our patent portfolio is integral to building company assets as well as protecting our unique drone hardware inventions. This patent is key to flight time and performance improvements of the ZenaDrone 1000, facilitating continued development for Agriculture, Defense, Oil and Gas, Utilities, as well as specific applications like crop management, military cargo, and others where we see growing demand," said CEO Shaun Passley, Ph.D. The ZenaDrone 1000 is an autonomous drone, in a quadcopter design with eight rotors, is roughly the size of a boardroom table, is designed for stable flight, maneuverability, heavy lift capabilities, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial use. It has been used in the agriculture sector enabling smart farming, plant tracking, and crop management. ZenaDrone's products have also been piloted in the field with the US military for delivery of temperature-controlled critical medical supplies. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products. About ZenaTech ZenaTech ZENA is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Contacts for more information: Company, Investors and Media: Linda Montgomery ZenaTech 312-241-1415 investors@zenatech.com Investors: Michael Mason CORE IR investors@zenatech.com Safe Harbor This press release and related comments by management of ZenaTech, Inc. include "forward-looking statements" within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management's expectations and projections regarding ZenaTech's growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "aim", "seek", "is/are likely to", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech's expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; the ability to deliver products to the market as currently contemplated; ZenaTech's expectations regarding its revenue, expenses, and operations; ZenaTech's anticipated cash needs and it's needs for additional financing; ZenaTech's intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech's expected business objectives for the next twelve months; ZenaTech's ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; ability to access additional capital; the completion of anticipated acquisitions of assets and patents; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech. Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech's management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech's securities should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech's actual future results may be materially different from what is currently anticipated. Market News and Data brought to you by Benzinga APIs

ZenaTech secures US design patent for drone upgrade By Investing.com

TORONTO - ZenaTech, Inc. (NASDAQ:ZENA), a company specializing in AI drone solutions, announced today that its subsidiary, ZenaDrone, has been granted a United States Design Patent for its second-generation drone, the ZenaDrone 1000. The patent, which was officially issued in November 2023, covers advancements that enhance flight times and increase payload capacity for the drone. The patent details include designs for rotating arms that allow the drone's rotors to operate at various angles, capitalizing on wind to glide and conserve power, thus extending flight times. It also outlines a redesign of the drone's body to be more aerodynamic, enabling it to carry payloads from 20 lbs. to 80 lbs. These modifications are expected to improve the drone's functionality in cargo transportation, spraying, seeding, and other specific applications. ZenaDrone 1000, known for its autonomous capabilities and quadcopter design featuring eight rotors, is comparable in size to a boardroom table. It is engineered for stability, maneuverability, and heavy lifting, integrating AI, sensors, and specialized attachments for industrial usage. The drone has been employed in agriculture for smart farming and crop management and has undergone testing with the US military for delivering critical medical supplies. CEO Shaun Passley, Ph.D., emphasized the significance of the patent for the company's asset building and the protection of its hardware inventions. He also highlighted the growing demand for the ZenaDrone 1000 in sectors like agriculture, defense, oil and gas, and utilities. ZenaTech, with a history of software development and drone manufacturing through ZenaDrone, supports various industries, including law enforcement, government, and industrial sectors, by enhancing operational efficiencies and cost savings. The patent acquisition is subject to shareholder and regulatory approvals as needed. This announcement is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. In other recent news, ZenaTech, Inc. has been making significant strides in the drone technology sector. The company announced its intent to acquire ZooOffice Inc., a strategic move anticipated to bolster ZenaTech's SaaS offerings and customer base. The acquisition aims to integrate compliance and inspection software, as well as scheduling and mapping software, into ZenaTech's ZenaDrone AI drone solutions. In addition, ZenaTech has started U.S. flight testing for its ZenaDrone 1000 in Arizona, following the recent Federal Aviation Authority (FAA) exemption approval. This development will allow the company to conduct live testing with U.S. partners and potential customers, further refining its drone solutions. ZenaTech has also launched a new product, the ZenaDrone IQ Nano, designed to enhance efficiency in warehousing and logistics. This drone is tailored for indoor inspection, monitoring, and tracking processes such as inventory management. The company's subsidiary, ZenaDrone, has begun commercial operations in the United States. This follows the FAA exemption approval, allowing ZenaDrone to offer Drone-as-a-Service (DaaS) from its Phoenix office. Lastly, ZenaDrone has been granted an FAA exemption for commercial drone operations in the United States. This approval marks a significant step for ZenaTech, facilitating live testing and evaluation of the ZenaDrone 1000 with U.S. partners and potential customers. These are recent developments in ZenaTech's ongoing growth strategy. While ZenaTech's recent patent acquisition for its ZenaDrone 1000 marks a significant milestone in the company's technological advancement, a look at the financial metrics from InvestingPro reveals some challenges facing the company. According to InvestingPro data, ZenaTech's market capitalization stands at $30.46 million, reflecting its status as a small-cap company in the drone technology sector. The company's revenue for the last twelve months as of Q2 2024 was $1.41 million, with a concerning revenue growth of -16.14% over the same period. This decline in revenue growth could potentially impact the company's ability to capitalize on its new patent in the short term. InvestingPro Tips highlight that ZenaTech's stock has taken a significant hit recently, trading near its 52-week low. The stock price has fallen substantially over the last year, with a one-year price total return of -80.0% as of the latest data. This performance suggests that investors may be cautious about the company's near-term prospects despite its technological advancements. It's worth noting that ZenaTech is currently not profitable over the last twelve months, as indicated by another InvestingPro Tip. This aligns with the reported basic EPS (Continuing Operations) of -$0.01 for the last twelve months as of Q2 2024. The company's efforts to commercialize its patented drone technology will be crucial in its path towards profitability. For investors interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for ZenaTech, providing a deeper understanding of the company's financial health and market position.