Bantek Settles Litigation
NEW YORK--(BUSINESS WIRE)--Dec 26, 2018--Bantek, Inc. (OTCPINK:) (“Bantek” f/k/a Drone USA”), a service provider and reseller of drones, insulation jackets and distributor of products to the U.S. Government, today announced that Drone USA and its former Chief Strategy Officer, Paulo Ferro, recently settled their lawsuit against each other with a payment to Mr. Ferro. In connection therewith, and after an investigation, Drone has withdrawn all of its claims against Mr. Ferro, including its claim for misappropriation of trade secrets.
About Bantek, Inc.
Bantek, Inc. (OTCPINK: DRUS ), headquartered in Pine Brook, NJ., consists of three separate divisions. First, through Howco Distributing Co., we sell products primarily to U.S. Department of Defense. Second, through Drone USA we sell drone programs, which consists of drones, training, COA’s and waivers and other drone-related services, to law enforcement, firefighters, security companies, local, state and our US government. Third, we sell insulation jackets, slates, and insulation services to hospitals, universities, and manufacturers.
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes” or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.
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CONTACT: Michael Bannon
Chief Executive Officer
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENERGY UTILITIES OTHER ENERGY MANUFACTURING AEROSPACE ENGINEERING PROFESSIONAL SERVICES LEGAL DEFENSE RETAIL CONTRACTS OTHER DEFENSE SPECIALTY
SOURCE: Bantek, Inc.
Copyright Business Wire 2018.
PUB: 12/26/2018 06:15 PM/DISC: 12/26/2018 06:15 PM