Masked, UITA is a very nice one. Really like what I see.
Excerpts from Feb 22 news: Utilicraft Aerospace Plans Flight-Test Study for Its Humanitarian Aircraft Development Program
ALBUQUERQUE, N.M., Feb 22, 2010 (BUSINESS WIRE) -- Utilicraft Aerospace Industries, Inc. (PINK SHEETS: UITA) announced today that it plans to initiate an in-house flight test program to further study the STOL utility market for its planned humanitarian relief aircraft development.
As the Company commences its flight test study program, expect regular release updates on further on-going developments.
We are all quite aware of the ongoing need for humanitarian relief. What is not to like about that?
Excerpts from Feb 8 news: Utilicraft Aerospace Industries Announces Business Development Private Placement
ALBUQUERQUE, N.M., Feb 08, 2010 (BUSINESS WIRE) -- Utilicraft Aerospace Industries, Inc. (Symbol: UITA.PK) announced today a $780K Private Placement Memorandum to raise new capital to take the Company in a new direction as described below.
As part of the new direction of UITA as an aerospace technology development holding company, the Company is reviewing strategic acquisition possibilities - or the in-house development - of a Light Observation Aircraft (LOA) program intended for disaster "emergency first response" missions.
It is to be a "rapid deployment" observation aircraft, equipped with the latest electronic surveillance equipment for rapidly detecting life-signs of disaster victims trapped in debris or damaged structures over a wide search area in the shortest amount of time - as a search and rescue (SAR) airborne platform electronically transmitting coordinates to and from ground rescue teams.
This tells us that this company is headed in right direction and people believe in their product.
Plus, per their 8-k from Jan 22, they had a recent acquisition and are looking to be uplisted soon and be fully current and reporting.
On January 21, 2010, Utilicraft Aerospace Industries, Inc. (the "Company"), with board approval, entered into a Subsidiary Acquisition Agreement with United Aircraft Development Partners, Inc. ("UADP") pursuant to which the Company issued 103,250,000 shares of its common stock in exchange for a 100% ownership of UADP. See Exhibit 10.1.
The Board of Directors decision to acquire United Aircraft Development was based upon its contributing to the consolidated company, a Memorandum of Understanding that United Aircraft Development had previously entered into to merge with an existing operating aerospace company. It is the Utilicraft Board's intention to build a stronger balance sheet, and to create operating activities with operating histories which will help Utilicraft Aerospace to become a fully reporting company on a higher stock trading exchange with increased shareholder value.
Trust me.....Plenty to like here.
SURE SIGN OF A TRADE GONE WRONG.
