Eva Defense Inks $1.2M Deal to Build Jam-Proof Drone
GOAI sits 44% above its 52-week low of $1.323 on light trading volume (0.1× avg).
Summary
Eva Live's defense subsidiary signed a $1.2M development agreement with Boumarang to build a sub-55-pound drone resistant to GPS and radio jamming. The 12-month program, funded at $100K/month, targets 10-20 prototypes and a production plan. This is the first concrete defense contract since the company formed Eva Defense and hired military leadership. With only ~3 months of cash runway and a $10.3M H1 loss, the spend is material but signals execution on its pivot to defense tech. Success hinges on hitting technical milestones and securing government orders in a market projected to exceed $20B by 2030.
At the time of this announcement, GOAI was trading at $1.90 on NASDAQ in the Technology sector, with a market capitalization of approximately $71M. The 52-week trading range was $1.32 to $18.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.