Replies to post #1578 on ComSovereign Holding Corp (COMS)

[The Rainmaker]

MacroSolve Inc. changed to Drone Aviation Holding Corp. Domicile change to Nevada; Share Exchange Resulting from Merger : 1(new) Drone Aviation Corp for each 50.56186 (old) Macrosolve

http://www.otcbb.com/asp/dailylist_detail.asp?d=05/02/2014&mkt_ctg=NON-OTCBB

[The Rainmaker]

June 05, 2014 09:00 ET: Drone Aviation Holding Corp. Announces Share Exchange and Completion of $1.35 Million Private Placement

Drone Aviation Holding to Focus on Tethered Aerostat and Drone Business

JACKSONVILLE, FL--(Marketwired - Jun 5, 2014) - Drone Aviation Holding Corp. (formerly MacroSolve Inc.) (PINKSHEETS: MCVED) a Nevada corporation (the "Company"), announced today that it completed a share exchange agreement pursuant to which all of the capital stock of Drone Aviation Corp., a privately held Nevada corporation ("Drone Aviation"), were exchanged for shares of either Common Stock or Series D Convertible Preferred Stock of the Company on a one-for-one basis (the "Share Exchange") making Drone Aviation a wholly owned subsidiary of the Company. Shares of the Company's Common Stock are currently quoted on the OTC Markets under the symbol "MCVED," which will soon change to "DRNE."

On May 5, 2014, Drone Aviation acquired Lighter Than Air Systems Corp. ("LTAS") from World Surveillance Group in a share exchange (the "LTAS Acquisition"). Following the LTAS Acquisition, Drone Aviation became an aerospace company principally focused on developing and producing tethered drones and tethered aerostats for military and commercial applications. Drone Aviation's flagship products the Blimp in a Box ™ (BiB) and the Winch Aerostat Small Platform (WASP) acquired in the LTAS Acquisition, are currently utilized by various military and commercial customers as a safe, effective surveillance and communications system. In addition, Drone Aviation is leveraging its experience from military applications to develop specialized drones that utilize a unique tethering technology where all data, controls and endurance are built into the tether, thus permitting the drones to fly within FAA guidelines.

The Company, now headquartered in Jacksonville, Florida, will continue the business of LTAS. The Company's new management team includes Felicia Hess as its Chief Executive Officer, Kendall Carpenter as its Chief Financial Officer, and Dan Erdberg as its Chief Operating Office.

Simultaneous with the closing of the Share Exchange, the Company completed a closing of the sale of 2.7 million Units (consisting of one share of Series E Preferred Stock and one three year warrant with an exercise price of $1.00) in a private placement to accredited investors, at a price of $0.50 per Unit, resulting in gross proceeds to the Company of $1,350,000 (before deducting commissions and expenses of the offering).

The Company's Chief Executive Officer, Felicia Hess, said, "The completion of these transactions was a key piece in our strategic plan to penetrate the military and commercial aerostat and drone space. Our investors recognize the potential tethered aerostats and drones have as safe, lower cost and effective systems, that comply with current FAA regulations, for various military and commercial applications. We expect the capital raised from this financing will assist us to expand our customer base and allow us to accelerate our research and development of our next generation tethered aerostats and drones."

The Company intends to use the net proceeds of the offering principally for sales and marketing, research and development, and general and administrative expenses.

About Drone Aviation Holding Corp.

Drone Aviation Holding Corp. designs and develops specialized tethered aerial surveillance and communications solutions to government and commercial customers. Drone systems are designed in-house utilizing proprietary technologies and processes that result in compact, rapidly deployable tethered aerostat solutions that have been proven to fulfill critical requirements by the military and law enforcement in the U.S. and around the world. For more information regarding Drone, please visit www.DroneAviationCorp.com, or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov.

[OTCdoc]

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