Once exotic, expensive gadgets, drones have evolved into a multifaceted utility. From surveying agriculture to filmmaking to social media, drones have proven to be an invaluable tool in various sectors. Currently, PWC estimates that commercial applications have a total addressable market of $127 billion globally. Drones are expected to become part of daily operations across multiple industries, but none with as far-reaching consequences as in the military. That is because a small drone that costs a fraction of an armored personnel carrier can disable the vehicle or even neutralize troops. One company that is well positioned for this growing opportunity is Epazz, Inc. (OTC:EPAZ).
Epazz, Inc. (OTC:EPAZ) is a mission-critical provider of drone technology, artificial intelligence software, cryptocurrency apps, blockchain mobile apps, and cloud-based business software solutions.
The company, through its subsidiary ZenaDrone, designs and produces an American-made drone called ZenaDrone 1000. It was created to revolutionize the hemp-farming sector, later evolving into a smart, multifunctional industrial surveillance, inspection, and monitoring solution. This multifunctional unmanned aerial vehicle is equipped with machine-learning systems, multispectral sensors, and AI technology. Using the data captured from its cameras, the drone can create a 3D interactive environment that can be manipulated and simulated through the use of predictive AI analytics, or predictive modeling. This means that the interactive 3D environment can combine acquired data with predictive analytics to forecast future outcomes.
Not only has the drone been designed to carry heavy payloads, it has also been made available at a competitive price point as well. Epazz, Inc. (OTC:EPAZ) also offers a pilot program that would allow a pilot customer to use the drone for a period of 90 days. Going forward, enhancements will include AI capabilities that will allow the ZenaDrone 1000 to autonomously navigate unmapped terrain, deep learning algorithms for various actions, and dual-use features to accommodate commercial and military drone utilization.
While the ZenaDrone 1000 has successfully garnered positive assessments and attracted interest from several industries, especially in the agricultural, oil and gas, wildfire, and civil engineering industries, the Chief Executive Officer of the company, Shaun Passley, noted that the demand for the ZenaDrone 1000 was high among government agencies in the United States.
The successful presentation Epazz made to several government security agencies back in August served as an example of this interest from the military. Potential users include the US Navy, which would be looking to use the ZenaDrone 1000 for a variety of missions, including surveillance, search and rescue, and reconnaissance. At the same time, Epazz, Inc. (OTC:EPAZ) has already begun preparing the ZenaDrone 1000 for the U.S. Air Force, U.S. Marine Corps, and U.S. Army. Furthermore, the company presented the solution to the Department of Homeland Security and has a flight demonstration scheduled with the Department of Defense next month.
“We are honored to have been chosen by the U.S. Navy to demonstrate our capabilities,” said Passley. “We believe that the majority of our revenue will come from sales of ZenaDrone 1000 from the U.S. government.”
In another major corporate update early this month, Epazz, Inc. (OTC:EPAZ) announced that ZenaDrone would be sending the first drones manufactured from the company’s new manufacturing facility to Ireland, further reaffirming the company’s future prospects. This would be the first set of 20 ZenaDrone 1000s that will be in service in Ireland to establish Drone as a Service (DaaS) operations. The drones will not only work with Irish farmers to monitor plant health and spray weeds, but the police force and fire departments will also be able to mobilize the drones as an integrated part of the first-responder system. According to the company’s estimates, each deployed drone can generate over $100,000 per year.
What’s more, the company has developed low-cost Augmented Reality Smart Glasses called Stacklens, which could be instrumental in boosting its topline. Stacklens are durable and comfortable augmented reality glasses as well as smart glasses for its holdings in Tillerstack’s onsite remote-assisted product. Remote-assisted glasses can be used on-site by field technicians to repair complex machines such as HVAC, industrial machines, and water and waste pipes.
These glasses were developed for potential customers in Europe who wanted to use the technology but found glasses sold by third parties to cost too much. While other competitors are selling their glasses for over $2,000 per pair, Stacklens will be under $400 per pair of glasses, and most importantly, the technology can be adapted for use with the ZenaDrone 1000.
On August 16, Epazz, Inc. (OTC:EPAZ) released second quarter results, reporting revenue of $580,530 compared to $511,633 for the second quarter of 2022. Furthermore, the company reported a positive EBITDA of $132,563, compared to an EBITDA of $37,372, a 71.8% increase driven primarily by the addition of artificial intelligence (AI) engines to its cloud business software products.
Over the next couple of quarters, Epazz anticipates new sales from drone technology, and smart glasses will be responsible for driving revenue as drones are deployed and smart glasses are implemented into training programs. And while the military application of ZenaDrone is the initial focus of the company, the UAV systems have a wide application use across numerous industries.
For now, the most important thing to note is that if management’s plans play out, there's a strong possibility of unlocking significant shareholder value, considering the deal with Ireland alone could bring in $2 million in revenue annually. As such, investors looking to make a play for the drone market may want to consider putting Epazz, Inc. (OTC:EPAZ) on their watchlist.
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