synopsis

ReadyMonitor manufactures autonomous, artificial intelligence-powered drones. It has received an approval from the Federal Aviation Administration (FAA) to operate small unmanned aircraft beyond the line of sight of a pilot.

XTI Aerospace Inc. (XTIA) stock fell nearly 5% in pre-market trade on Tuesday after announcing that it has signed a non-binding memorandum of understanding (MOU) to acquire a 30% stake in ReadyMonitor LLC.

XTI expects the deal to close by the end of March quarter. It also has an option to acquire the remaining 70% within the following 12 months.

"Expansion into autonomous, remotely operated drones is foundational to our strategic vision that incorporates unmanned VTOLs along with our uniquely configured TriFan 600 aircraft,” said Scott Pomeroy, CEO of XTI.

ReadyMonitor manufactures autonomous, artificial intelligence-powered drones. It has received approval from the Federal Aviation Administration (FAA) to operate small unmanned aircraft beyond the line of sight of a pilot.

While XTI specializes in virtual takeoff and landing (VTOL) aircraft, ReadyMonitor is focused on making unmanned aerial vehicles (UAV).

Pomeroy thinks this combination of VTOL and UAV can create “new opportunities across multiple industries.”

“The artificial intelligence powering ReadyMonitor's autonomous drones leverages advanced machine learning algorithms and computer vision to enable real-time decision-making, obstacle avoidance, and mission optimization without human intervention,” said Torres Declet, co-founder and CEO of ReadyMonitor.

The company added that AI automates flight paths and analyzes collected data to generate actionable insights.

However, retail sentiment on Stocktwits was mixed.

Some users expressed optimism about XTIA after it announced the purchase of an equity stake in ReadyMonitor.

But not everyone is sold on that narrative.

XTIA's share price is down more than 92% in the past six months, while its one-year performance is worse with a decline of 99.5%.

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