On Thursday’s trading session, the share price of DRONE AVIATION HOLDI (OTCMKTS:DRNE) continued, with its impressive run. For most of the trading day, the share price traded around $0.31 but in the last hour of trade before the closing bell, it jumped more than 36% to close at $0.483. It was the consecutive sixth session of gains for DRNE. Out of the last thirteen sessions, DRNE stock has closed red in only two sessions.

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The news

DRONE AVIATION HOLDI (OTCMKTS:DRNE) stocks were subdued from last two months. The company published two new PRs in this week following which the stocks posted remarkable gains. The first PR was released on Monday that announced a new drone model named as WATT. It is an innovative product that will offer secured area monitoring for an extended duration. The second PR was announced on Thursday before market hours. It said that the company is in a better position to offer live aerial footage to several U.S. Army operated mobile assets. It will be done using Blimp in a box aerostat base. The news was not so exciting but still it played its part in keeping investors excited.

The strength

Drone also makes a favorite stock of investors as it is backed by Dr. Philip Frost who is the Chief Executive Officer of OPKO Health, Inc (NYSE:OPK). He is a major stakeholder in Drone and also a part of the Strategic Advisory Board. The involvement of such a personality makes investment in the firm a far more credible venture.

The financial performance

As per financial report ending September 30, 2014, Drone had $1.9 million in cash. The total current assets were $2.2 million and the total current liabilities stood at $346,000. It reported revenue of $328,000 and net loss of $1million. The figure shows that Drone has respectable cash reserves and a positive working capital.

About the Author

Michael joined US Markets Daily in 2009 and is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments.

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