The Red Cat steam roller keeps on a rollin' and sweeping up any FPV related companies in it's path. Now they appear to have signed a letter of intent to acquire LuGus Studios who are the developers behind Liftoff...

https://uasweekly.com/2021/05/05/red-cat...us-studios

Quote:

Red Cat Holdings Signs Letter of Intent To Acquire LuGus Studios

Red Cat Holdings, Inc., a hardware enabled, software provider to the drone industry, announced the signing of a letter of intent to acquire LuGus Studios, the developer of Liftoff, a flight simulation platform for drone pilot training. Liftoff enables student pilots to test and learn how to fly drones in a simulated environment without the cost and risk of flying a real drone.

“The projected growth of the drone industry over the next decade is predicted to result in a shortage of trained, qualified pilots” stated Jeffrey Thompson, Chief Executive Officer of Red Cat Holdings. “We believe that Liftoff can be the leading platform for simulating the flight experience that new drone pilots need to complete their training.”

LuGus Studios is an award winning team of software developers that produce clever on-line games which can be leveraged beyond just entertainment to provide critical educational and development applications for business. LuGus is planning to launch Liftoff Academy, a more expansive training platform which will teach drone pilots how to fly in various industrial environments including oil and gas pipelines, cell towers, and automotive manufacturing plants.

The signing of a letter of intent does not represent a binding transaction and there are no assurances that the transaction will be consummated. Completion of the transaction is subject to due diligence, preparation of legal documents and other normal closing conditions.

About LuGus Studios
LuGus Studios was founded in 2011 by Kevin Haelterman and Tom Lissens in Hasselt, Belgium. The company creates clever and attractive serious games that broaden the medium’s horizon. Their B2B ventures and strong IPs have garnered them many awards, including the Best Business Award at the 2019 Belgian Game Awards. Since 2015 LuGus Studios has been developing Liftoff: FPV Drone Racing, a market leading drone simulator that has also seen a console release. The Liftoff brand is currently being expanded into a series of dedicated drone simulations for both entertainment and industry applications. For more information, visit www.lugus-studios.be..

About Red Cat Holdings, Inc.
Red Cat provides products, services and solutions to the drone industry through its three wholly owned subsidiaries. Fat Shark Holdings is the leading provider of First Person View (FPV) video goggles to the drone industry. Rotor Riot, LLC is a leader in the sale of FPV drones and equipment, primarily to the consumer marketplace through its digital storefront located at www.rotorriot.com. Rotor Riot enjoys high visibility in social media through its Facebook page and its sponsorship of a professional drone racing team which has won numerous championships.  Red Cat Propware is developing a Software-as-a-Solution (“SaaS”) platform to provide drone flight data analytics and storage, as well as diagnostic products and services.]. Learn more at https://www.redcatholdings.com/.

Snow, always the bearer of bad news. Haha

They're also currently setting up an IPO and trying to get on NASDAQ.

I don't understand economics in the least, but can someone explain to me how a company can just ask rich people for money, use that money to buy other companies, and that somehow generates value?

Go home, capitalism. You're drunk.

The easiest way to get rich is IPO

My take is this
1. The company ask's investors for money in exchange for shares
2. The company holds an IPO
3. All the investors cash out at a higher price
4. General public buy their shares and carry the debt unless the share price rockets.

Sad, I wish that one day we could all band together and go up in competition with them, but it really isnt feasible as there would be no monetary gain and there would be a lot of effort.

What did you all expect when the prick Chad Kapper, the most hated man in fpv, is involved with anything fpv related?
It goes SOUR.

That’s what happens when a chronic and persistent manipulative liar remains in the hobby background still causing damage to fpv. Chad Kappers revenge on fpv community is him being a fpv gormandizer. If the goon Chad Kapper name is involved there is going to be trouble.

Liftoff sucks regardless. It’s a mildly nice looking sim with extremely poor game mechanics and maps. Lugas himself spends most of the time defending his empty shell of a sim. Chad Kapper and a Lugas are meant to be together in the fpv greedy gormandizer machine.

Hmmm ... ok you guys know I'm not the biggest fan of the big headed jackass behind Fat Shark much less the shenanigans that is Rotor Riot and its abortion of a captain Kapper.

But man ... I actually think there may be some brains behind the wheels of this thing. Make no mistake, no way its Fat Greg or Chad Krapper - no way. It's some savvy-borderline-if-not-straight-up shady person that knows how to play the market and has for whatever reason set his sites on FPV. Maybe a hedge fund guy that happened to do FPV for fun. In any event, I'm keeping a close watch. As someone with heavy finance background, its like watching a jig saw puzzle falling into place but I was looking at it upside down.