Bantek Inc. (f/k/a Drone USA) OTC: DRUS Climbs 500% Last Week on Announcement of New CFO

Lots of excitement and chatter has circulated with investors on both the message boards and social media platforms this past week and the hype is growing that mergers are in the future. The stock ticker OTC: DRUS was $.0006 earlier last week only to close Friday near .003 for a handsome 500% return. Even investors that jumped on the bandwagon a little later in the game saw great gains as the stock was up 92.67%, closing at 0.00289 +0.00139 on over 418M shares traded.

Investors saw a much smaller spike late December when the company’s subsidiary Howco Distributing announced $1.6M worth of contracts over a 11-day period. Great news for sub-penny company to show the community its producing real revenues. The gains were short lived and when looking back, was merely a 1-day blip before share prices soon found its way back to the trips.

This has not been the case this past week, where the charts show an astonishing up tick over multiple days. What is so significant about this new CFO announcement that the share price has continued to run? When we looked deeper into who Jeffrey L. Garon was, his resume and track record unveiled pieces of a puzzle that speculative investors feel that much bigger things and possible merger(s) are in the very near future for Bantek Inc. which already pretty much took over Drones USA Inc. and made them a subsidiary. There never was an official press release for this move, but as of the November 29th press release, Michael Bannon was now CEO of Bantek in the “About Bantek Inc.” section it states…” 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.”

So, the interesting puzzle piece with new CFO Jeff derives from his past gig with Mota Group before coming over to Bantek Inc. last month as both CFO and a Board member. (See LinkedIn Bio info below)

MOTA Group was set to IPO on NASDAQ and planned to Raise over $7M before everything was withdrawn in October of 2018. The big question is if MOTA is seeking a new plan on entering the public the public market by reverse merging in with Bantek Inc.

We are not sure and are speculating MOTA could be in play, but something is up, and the new CFO is there for a reason. Also, look for a name change and ticker change in the near future to reflect the new name of the company.

About Jeffrey L. Garon

For the past 30 years, Jeff led the development, implementation and execution of companies’ annual operating plans, financing and business development strategies, transparency, and controls. His experience includes startups, turnarounds, restarts, acquisitions, technology sales, IPOs and reverse mergers. Jeff successful performed the roles of founder, CFO, COO and CEO and board member. As an investment banker, Jeff possesses both sell and buy side experience. Jeff held senior positions in the following companies: Mota Group, CVA Partners, Etelos, Kaufman Bros., Tripath Technology, Silicon Storage Technology, Monster Cable Products, Oracle, Ashton-Tate, and Teledyne Microelectronics. Jeff graduated from CSU Northridge and holds an MBA from Loyola Marymount University.

What do we know 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.

About Howco Distributing Co.

Howco Distributing, a subsidiary of Bantek, Inc., is a premier supplier of spare and replacement parts to a wide variety of Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in Vancouver, Washington, Howco’s services encompass bid solicitation, contract management, packaging and logistics for construction, transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.

Disclaimer: PSInvestor does NOT hold any position in the company at this time, nor were we compensated for the above-mentioned article. To read our full disclaimer, please click here.

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