<SEC-DOCUMENT>0001554795-21-000004.txt : 20210107
<SEC-HEADER>0001554795-21-000004.hdr.sgml : 20210107
<ACCEPTANCE-DATETIME>20210107131938
ACCESSION NUMBER:		0001554795-21-000004
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20210107
DATE AS OF CHANGE:		20210107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Red Cat Holdings, Inc.
		CENTRAL INDEX KEY:			0000748268
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				860490034
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-249776
		FILM NUMBER:		21513718

	BUSINESS ADDRESS:	
		STREET 1:		1607 PONCE DE LEON AVE
		STREET 2:		SUITE 407
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00909
		BUSINESS PHONE:		833-373-3228

	MAIL ADDRESS:	
		STREET 1:		1607 PONCE DE LEON AVE
		STREET 2:		SUITE 407
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00909

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TimefireVR Inc.
		DATE OF NAME CHANGE:	20161121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EnergyTEK Corp.
		DATE OF NAME CHANGE:	20140723

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADLEAF CAPITAL PARTNERS INC
		DATE OF NAME CHANGE:	20040928
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1/A
<SEQUENCE>1
<FILENAME>rcat0107forms1a3.htm
<DESCRIPTION>REGISTRATION STATEMENT ON FORM S-1/A (AMENDMENT NO. 3)
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>As
filed with the Securities and Exchange Commission on January 7, 2021 </B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Registration
No. 333-249776</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 122.1pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>UNITED
        STATES</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>SECURITIES
        AND EXCHANGE COMMISSION</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Washington,
        D.C. 20549</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>AMENDMENT
                                   NO. 3 TO FORM S-1</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>REGISTRATION
        STATEMENT UNDER THE SECURITIES ACT OF 1933</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 106px; width: 353px"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>RED
CAT HOLDINGS, INC.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Nevada</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 28%; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>7372</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 28%; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>86-0490034</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(State
    or other jurisdiction</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Primary
    Standard Industrial</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(I.R.S.
    Employer</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">of
    incorporation or organization)</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Classification
    Code Number)</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Identification
    Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;<B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>370
Harbour Drive</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Palmas
del Mar</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Humacao,
PR 00791</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>(833)
373-3228</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B>(Address,
including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Jeffrey
Thompson</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Chief
Executive Officer</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Red
Cat Holdings, Inc.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>370
Harbour Drive</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Palmas
del Mar</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Humacao,
PR 00791</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>(833)
373-3228</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Name,
address, including zip code, and telephone number, including area code, of agent for service)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;<B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B><I>With
copies to:</I></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;<B>Mark
E. Crone, Esq.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Eric
Mendelson, Esq.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>The
Crone Law Group, P.C.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>500
Fifth Avenue, Suite 938</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>New
York, New York 10110</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Telephone:
(917) 398-5082</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Approximate
date of commencement of proposed sale to the public:</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">From
time to time after the effectiveness of this registration statement.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">If
any of the securities being registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415
under the Securities Act of 1933, check the following box:&nbsp;&nbsp; &#9745;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">If
this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under the Securities
Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering.&nbsp; &#9744;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;
&#9744;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(d)&nbsp;under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;
&#9744;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; and &ldquo;smaller
reporting company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 55%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Large accelerated
    filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#9744;</FONT></TD>
    <TD STYLE="width: 45%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Accelerated
    filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#9744;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Non-accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Smaller
    reporting company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#9745;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Emerging
    growth company&nbsp;&#9744;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: justify; margin: 0; text-indent: 45pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a)&nbsp;of the Exchange
Act.&nbsp;&#9744;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="border-top: Black 3pt solid; font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>CALCULATION
OF REGISTRATION FEE</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="border: Black 1pt solid; vertical-align: bottom; width: 61%"><DIV STYLE="padding: 0in 0in 3pt; border-bottom-width: 0in; border-bottom-color: Black"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Title
                                         of Each Class of</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Securities
        to be Registered</B></FONT></P>
</DIV></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; width: 13%; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Amount</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>to
        be</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Registered</B><SUP>(1)</SUP></FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: bottom; width: 13%; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Proposed
        Maximum Aggregate Offering Price&nbsp;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: bottom; width: 13%; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Amount
        of</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Registration
        Fee</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Common stock, par value $0.001 per share</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">3,470,813</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">$4,685,598<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Common
    stock, par value $0.001 per share, underlying Series B Convertible Preferred Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">1,426,872</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">$1,926,277<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">$210.16*</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT><FONT STYLE="font-size: 11pt">4,897,685</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">$6,611,875<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(1)</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Pursuant
    to Rule&nbsp;416 under the Securities Act, the securities being registered hereunder include such indeterminate number of
    additional shares of common stock as may be issued after the date hereof as a result of stock splits, stock dividends or similar
    transactions.</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Estimated
    solely for purposes of calculating the registration fee pursuant to Rule&nbsp;457(c)&nbsp;under the Securities Act of 1933,
    as amended, using the average of the bid and asked price on the over-the-counter marketplace maintained by OTC Markets
    Group as of December 23, 2020 which was $1.35.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify; text-indent: 40pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">*
previously paid&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>The
Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until
the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become
effective in accordance with Section&nbsp;8(a)&nbsp;of the Securities Act of 1933, as amended, or until the Registration Statement
shall become effective on such date as the Securities and Exchange Commission, acting pursuant to Section&nbsp;8(a), may determine.</B></FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify; text-indent: 40pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>EXPLANATORY
NOTE</B></FONT> </P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> Red Cat Holdings, Inc.
is filing this Amendment No. 3 to its Registration Statement on Form S-1 (File No. 333-249776) solely to file Exhibit 23.1 to
the Registration Statement as indicated in Item 16 in the index to exhibits. Accordingly, this Amendment consists only of the
facing page, this explanatory note, Item 16(a) of Part II of the Registration Statement, the signature page to the Registration
Statement and the filed exhibit. The remainder of the Registration Statement is unchanged and has therefore been omitted. </P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Item
16.<I>&nbsp;Exhibits and Financial Statement Schedules</I></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Exhibits</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Exhibit
No.&#9;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Description</FONT></TD></TR>
</TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Agreement
                                         and Plan of Merger (incorporated by reference to Exhibit 2.1 to the Company&rsquo;s Current
                                         Report on Form 8-K filed with the SEC on September 13, 2016)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Articles
                                         of Merger- Nevada (incorporated by reference to Exhibit 2.2 to the Company&rsquo;s Current
                                         Report on Form 8-K filed with the SEC on September 13, 2016)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Articles
                                         of Merger- Arizona (incorporated by reference to Exhibit 2.3 to the Company&rsquo;s Current
                                         Report on Form 8-K filed with the SEC on September 13, 2016)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Agreement
                                         of Merger, dated January 23, 2019, among the Company, Rotor Riot Acquisition, LLC and
                                         the stockholder signatory thereon (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s
                                         Current Report on Form 8-K filed with the SEC on January 29, 2020)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Amendment
                                         No. 1 to the Agreement of Merger, dated December 31, 2019, among the Company, Rotor Riot
                                         Acquisition, LLC and the stockholder signatory thereon (incorporated by reference to
                                         Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on
                                         January 29, 2020)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2.6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Second
                                                                                                                                                          Amendment   to the Agreement of Merger, dated December 31, 2019, among the Company, Rotor Riot Acquisition, LLC and the
                                                                                                                                                          stockholder signatory thereon (incorporated by reference to Exhibit 10.3 to the Company&rsquo;s Current Report on Form 8-K
                                                                                                                                                          filed with the SEC on January 29, 2020)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">3.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Amended
                                         and Restated Articles of Incorporation, dated July 17, 2019 (incorporated by reference
                                         to Exhibit B to the Company&rsquo;s Schedule 14C Information Statement filed with the
                                         SEC on July 2, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">3.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Bylaws
                                         (incorporated by reference to Exhibit 3.2 to the Company&rsquo;s Registration Statement
                                         on Form S-1 filed with the SEC on February 8, 2017)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0">                                                                                                                                      <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD>3.3</TD><TD STYLE="text-align: justify">Certification of Designation of Series A Preferred Stock, dated May 10, 2019 (incorporated by
            reference to Exhibit 3.2 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on May 16, 2019)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">3.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Certification
                                         of Designation of Series B Preferred Stock, dated May 10, 2019 (incorporated by reference
                                         to Exhibit 3.3 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on
                                         May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">3.5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Red
                                         Cat Holdings, Inc. Code of Conduct</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">5.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Opinion
                                                                                                                                                           of The Crone law Group, P.C. as to the legality of the securities being registered.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Form
                                         of Senior Convertible Note (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s
                                         Current Report on Form 8-K filed with the SEC on May 6, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Share
                                         Exchange Agreement, dated as of May 13, 2019, among TimefireVR, Inc. (Timefire&rdquo;),
                                         Red Cat Propware, Inc, and Red Cat Propware, Inc&rsquo;s. shareholders (incorporated
                                         by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Warrant,
                                         dated May 5, 2019, issued to Calvary Fund I LP (&ldquo;Calvary&rdquo;) (incorporated
                                         by reference to Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Restricted
                                         Stock Unit Agreement, dated May 15, 2019, between Timefire and Jonathan Read (incorporated
                                         by reference to Exhibit 10.3 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Securities
                                         Exchange Agreement, dated May 13, 2019, between Timefire and Calvary (incorporated by
                                         reference to Exhibit 10.4 to the Company&rsquo;s Current Report on Form 8-K filed with
                                         the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Securities
                                         Exchange Agreement, dated May 13, 2019, between Timefire and L1 Capital Global Opportunity
                                         Master Fund Ltd. (incorporated by reference to Exhibit 10.5 to the Company&rsquo;s Current
                                         Report on Form 8-K filed with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.7</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Securities
                                         Exchange Agreement, dated May 13, 2019, between Timefire and Digital Power Lending, LLC
                                         (incorporated by reference to Exhibit 10.6 to the Company&rsquo;s Current Report on Form
                                         8-K filed with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.8</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Securities
                                         Exchange Agreement, dated May 13, 2019, between Timefire and Gary Smith (incorporated
                                         by reference to Exhibit 10.7 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.9</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Securities
                                         Exchange Agreement, dated May 13, 2019, between Timefire and Edward Slade Mead (incorporated
                                         by reference to Exhibit 10.8 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.10</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Redemption
                                         Letter for Series A Preferred Stock, dated May 9, 2019, from Timefire to Jonathan Read (incorporated
                                         by reference to Exhibit 10.9 to the Company&rsquo;s Current Report on Form 8-K filed
                                         with the SEC on May 16, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.11</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">2019
                                         Equity Incentive Plan (incorporated by reference to Exhibit C to the Company&rsquo;s
                                         Schedule 14C Information Statement filed with the SEC on July 2, 2019)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.12</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Amended
                                         and Restated Promissory Note, dated October 26, 2020, issued to Brains Riding in Tanks, LLC</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">10.13</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Make
                                         Whole Agreement, dated January 23, 2020, among the Company, Brains Riding in Tanks, LLC,
                                         Rotor Riot, LLC and Chad Kapper (incorporated by reference to Exhibit 10.4 to the Company&rsquo;s
                                         Current Report on Form 8-K filed with the SEC on January 29, 2020)</FONT></TD></TR>                                                                                                                            <TR STYLE="vertical-align: top; background-color: White">
<TD>10.14</TD><TD STYLE="text-align: justify">Share Purchase Agreement dated September 30, 2020 among the Company, Fat Shark Holdings,
              Ltd., Fat Shark Tech, Ltd., Fat Shark Technology SEZC, Greg French and FS Acquisition Corp (incorporated by reference to
              Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on October 5, 2020).</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD>10.15</TD><TD STYLE="text-align: justify">First Amendment dated October 29, 2020 to Share Purchase Agreement dated September 30, 2020
               among the Company, Fat Shark Holdings, Ltd., Fat Shark Tech, Ltd., Fat Shark Technology SEZC, Greg French and FS Acquisition
               Corp.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.16</TD><TD STYLE="text-align: justify">Lease dated April 6, 2017 by and between  Cayman Enterprise
                      City Ltd and Fat Shark Holdings, Ltd.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD>10.17</TD><TD STYLE="text-align: justify">Lease dated January 15, 2019 by and between Gamh Properties, Inc. and Rotor Riot
                      LLC.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">21.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">List
                                         of Subsidiaries</FONT></TD></TR></TABLE>





<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"> 23.1* </FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Consent
                                         of Independent Registered Public Accounting Firm (Red Cat Holdings, Inc.)</FONT></TD></TR>                                                                                                                                          <TR STYLE="vertical-align: top; background-color: White">
<TD>23.2</TD><TD STYLE="text-align: justify">Consent of Independent Registered Public Accounting Firm (Fat Shark Holdings,
              Ltd.)</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">23.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Consent
                                                                                                                                                            of The Crone Law Group, P.C. (included as part of Exhibit 5.1)</FONT></TD></TR></TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">*</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Filed herewith</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>&nbsp;</B></FONT></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Pursuant
to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of Humacao, Puerto Rico on January 7, 2021. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>RED CAT HOLDINGS,
    INC.</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 34%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><U>/s/
    Jeffery M. Thompson</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Jeffrey
    M. Thompson</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">President
                                         and Chief Executive Officer</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Principal
        Executive Officer)</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><U>/s/
    Joseph Hernon</U></FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Joseph
    Hernon&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Chief
    Financial Officer</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Principal
                                         Financial and Accounting Officer)</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 25%; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 30%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Title</B></FONT></P></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 25%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"><B>Date</B></FONT></P></TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I><U>/s/
                                    Jeffrey M. Thompson</U></I></FONT> </P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Jeffrey
        M. Thompson</FONT></P></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">President
                                    and</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Chief
        Executive Officer</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Principal
        executive officer)</FONT></P></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">January
    7, 2021</FONT> </TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I><U>/s/
                                    Joseph Hernon</U></I></FONT> </P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Joseph
        Hernon</FONT></P></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Chief
                                    Financial Officer</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">(Principal
        financial and accounting officer)</FONT></P></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">January
    7, 2021</FONT> </TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">*Nicholas
    Liuzza Jr.</FONT> <FONT STYLE="color: Black; font: 11pt Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">January
    7, 2021</FONT> </TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">*Patrick
    T. Mitchell</FONT> </TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">January
    7, 2021</FONT> </TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">*Jonathan Read</FONT> </TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">January
    7, 2021</FONT> </TD></TR>
<TR>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black"></FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 11pt Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 40%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 8%"> *By: </TD>
    <TD STYLE="width: 92%"> <I><U>/s/ Jeffrey M. Thompson</U></I> </TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD> &nbsp; </TD>
    <TD> Jeffrey M. Thompson </TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD> &nbsp; </TD>
    <TD> Attorney-in-Fact </TD></TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>


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<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>rcat0107forms1a3exh23_1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0">We hereby consent to the reference to our firm under the caption
&ldquo;Experts&rdquo;, and the inclusion of our report dated August 13, 2020, for the years ended and as of April 30, 2020 and
2019, related to the financial statements of Red Cat Holdings, Inc. (formerly TimeFireVR, Inc.) included in its Amended Registration
Statement on Form S-1/A filed on or about January 7, 2021.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">/s/ BF Borgers CPA PC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">BF Borgers CPA PC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Lakewood, CO</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">January 7, 2021</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
