Universal Power Industry Corporation (OTCPK:UPIN) agreed to acquire WavDrone, LLC on September 26, 2019. Post completion, WavDrone will be wholly owned by Universal Power. The transaction is subject to all legal and governmental approvals and requirements. The respective companies expect the acquisition to be completed no later than October 7, 2019. Universal Power Industry Corporation (OTCPK:UPIN) completed the acquisition of WavDrone, LLC on October 21, 2019. Under the terms and conditions Universal Power Industry Corporation will pay ten million shares of restricted stock. Universal Power Industry Corporation will pay 5 million of the restricted shares within 30 days from the completion of closing, 2.5 million restricted shares once previous management files all legally satisfactory patents with any associated requirements and the final 2.5 million restricted shares once all required applications and associated documents are filed with the Commercial and Government Entity (CAGE) Code Office – System for Award Management (SAM) Registration. If any of the latter two requirements are not met, the sellers will be deemed in default and will not receive the additional shares with Universal Power Industry Corporation still retaining 100% ownership. As of November 18, 2019, Commercial and Government Entity (CAGE) code approval was received.