An unmanned-aerial-vehicle company founded in Vancouver more than two decades ago has made some significant moves.
On July 3, Scott Larson, cofounder of Helios Wire, became the interim president of Draganfly Inc. which is now based in Saskatoon.
"Scott brings deep financial, executional and operational knowledge to the team," Draganfly CEO Cameron Chell said in a company news release. "We have great confidence in Scott’s leadership and track record of excellence.”
Larson is former CEO of Kater Technologies Inc., which developed a ride-hailing app. In January, however, the Passenger Transportation Board denied its application for a licence.
Larson has had been Draganfly's lead independent director since April.
According to the company's website, its products and services are contracted in five broad areas: agriculture, public safety, military and government, environmental and energy, and insurance.
Former Bush administration officials on the board
Larson's appointment as interim president came two weeks after the company appointed a former general counsel of the U.S. Department of Homeland Security, John M. Mitnick, to its board.
With Homeland Security during the George W. Bush administration, Mitnick supervised 2,500 lawyers.
From 2007 to 2013, Mitnick was vice president, general counsel, and secretary of a division of Raytheon, a large military contractor and manufacturer of missiles, air defence systems, drones, and other aerospace products.
Mitnick has been advising Draganfly since last November.
Also on Draganfly's board is Andrew Hill Card Jr., who was chief of staff to U.S. president George W. Bush from 2001 to 2006.
Card was also secretary of transportation in the administration of George H.W. Bush from 1992 to 1993, and president and CEO of the American Automobile Manufacturers Association from 1993 to 1998.
In 2018, he was elected chairman of the National Endowment for Democracy, a U.S. government-funded organization that promotes "democratization" in many countries.
"A lot of what we do today was done covertly 25 years ago by the CIA," NED founder Allan Weinstein told the Washington Post in 1991.
In early June, Draganfly formed a partnership with MicaSense as it announced the launch of the Draganflyer Commander Ag-Pro Package. This unmanned aerial vehicle will help in the monitoring of agricultural crops.
“We're excited about bringing this affordable new multispectral option to market” Cory Baker, Draganfly’s production manager said in a news release. “We have been working with the MicaSense lineup of cameras for several years and have been very pleased with their seamless integration support and high-quality data outputs. Our skilled engineers can incorporate any of the powerful sensors from the MicaSense portfolio onto our UAV’s."
Also last month, Draganfly also announced a partnership with Enderby Entertainment on "Safe Set Solutions" to help the Beverly Hills production company resume film production.
Draganfly says its ground-based health and respiratory measurement technology can pre-screen TV and movie crews for elevated body temperatures and offer a digital display of social distancing.
“Partnering with Enderby to bring Safe Set Solutions to the film industry is a significant step to help Hollywood and the global film industry safely ramp up production," Chell said. "Film industry investors, insurance companies, unions and guilds are all seeking this type of solution to protect their investments and keep workers safe.”
Draganfly shares closed at $0.64 on July 3 on the Canadian Securities Exchange. Its 52-week high has been $1.46 and it's 52-week low was $0.26.
In the first three months of 2020, Draganfly generated $497,057 in revenue, which was a 235 percent increase over the same period in 2019.
However, the company's comprehensive quarterly loss of $1.09 million was 221 percent higher than its comprehensive loss in the first quarter of 2019.