Duos Technologies Group Inc (DUOT)

[Adrian1]

Some of you have been asking about the recent sale by Duos of its iCAS business to Gelstat Corporation. Duos is focused on developing AI based solutions for moving vehicles with a heavy focus on the Rail industry at this time. Duos had some business in the past in the industrial security arena and had a security based product that it sold to correctional facilities. Duos took the decision some time back to focus its R&D efforts on developing AI for its target market in transport and offered for sale any ancillary businesses that were not specifically involved in those markets. The sale was disclosed in public filings via the last 10Q. Since I am the non-Executive Chairman for Gelstat, I made the introduction but was not involved in the negotiation and recused myself from any decisions. The sale was valued at about $150,000 and involved an older (non-rail) license of Centraco plus some branding and introductions to former clients. No active customer contracts were transferred with the sale.

My opinion is that the sale could be accretive to Duos through the Convertible note and warrants that they received from Gelstat.