Astro Aerospace Limited (fka ASDN)

[Talc Moan]

SWMM Massive double 8k's this morning!

The registrant is currently negotiating with Confida Aerospace Ltd. ( “ Confida ” ) and intends to enter into a Letter Agreement to assume all of the rights and obligations of Confida under an Asset Purchase Agreement dated January 18, 2018 by and between Infly Technology Ltd. and its principal shareholders (together “ Infly ” ) and Confida.

Under the Asset Purchase Agreement, Infly agreed to transfer, convey and assign to Confida all right, title and interest in and to the assets belonging to Infly and all books and records, studies, software, drawings, schematics and all ancillary information, rights, agreements and understandings Infly may have in respect of the operations of Infly (collectively, the "Assets"). The Assets consist of PassengerDrone aircraft, hardware, software and firmware components, designs and trademarks.

The registrant and Confida have agreed in principal that, as consideration for the assumption of its rights and obligations under the Asset Purchase Agreement, the registrant shall issue Confida Aerospace Ltd. 10,000 preferred shares. Each preferred share shall be convertible into 1,333 common shares and 1,333 warrants. Each warrant shall be exercisable into one common share at an exercise price of $.75. The warrants shall have an exercise period of five years.