UMAC claim to be a drone company.
The company did not generate any revenues until it purchase Fat Shark & Rotor Riot, which are not drone companies
The companies auditor, Gries & Associates were issued a cease and desist by the SEC on 3 May, 2024.
The new auditor prompted a re-audit of the previously issues financial statements. $600,000 of stock-base comp was not recorded and $10,993 of expenses were recorded in 2022 instead of 2023.