Red Cat Holdings Inc (RCAT)

[DrStevens]

EMAIL FROM CEO JEFF THOMPSON

I emailed the contact listed on their website POLITELY expressing my concerns over the split, the recent twitter posts and asked them not to forget about their shareholders and employees. This was sent to me less than 12 hours later.

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Hi Alexander,



Thank you for reaching out and expressing your concerns. We want you to know, first and foremost, we are an open company, believe in transparency across our team, customers, partners, and shareholders and work hard day in and day out to meet this standard.

The Twitter post you saw came from a former consultant who had control of our Twitter account whom we recently parted ways with.



Red Cat is working on exciting software for the drone industry and the work being done is important, the technology is complex, and there is a vast ecosystem that needs to come together for it all to work. The employees we work with (BTW employees 1,2,3,4, and 5 are still with the company), the partners we choose, the investors, like you, who believe in us are all paramount to our success.



We have completed the name change, and will have our new ticker RCAT around August 28th. The reverse split was very important for Red Cat as we have started to meet with institutional investors and research analysts and they cannot work with public companies sub one penny. I am the largest shareholder at Red Cat and have my own hard earned cash invested and will work VERY hard for all shareholders! Feel free to reach out to us anytime you have additional thoughts or questions. Thanks again.



Regards,

Jeff Thompson, CEO