 HUMACAO, Puerto Rico, Aug. 12, 2021 PRNewswire -- Red Cat Holdings, Inc. Nasdaq: RCAT Red Cat or Company, a hardware-enabled software provider to the drone industry, reports its financial results for the fiscal year ended April 30, 2021, and provides a business update: Revenues for the fiscal year ended April 30, 2021, were approximately 5.0 million, representing a more than ten-fold increase compared to approximately 0.4 million for the fiscal year ended April 30, 2020 Adjusted Net loss for the fiscal year ended April 30, 2021, which excludes non-cash charges associated with derivative liabilities, stock-based compensation, and the amortization of debt discount, was approximately 1.6 million, as compared to an adjusted net loss of 1.3 million for the fiscal year ended April 30, 2020 Common Stock financings in May and July 2021 raised 76 million in gross proceeds We are pleased to report only a relatively modest increase in our adjusted net loss even while closing and integrating three acquisitions during the 16-month period through April 30, 2021, stated Joseph Hernon, Chief Financial Officer. Our recent capital raises totaling gross proceeds of 76 million have strengthened our financial position, and we are well funded to execute on our growth initiatives. 