<SEC-DOCUMENT>0001554795-23-000300.txt : 20230915
<SEC-HEADER>0001554795-23-000300.hdr.sgml : 20230915
<ACCEPTANCE-DATETIME>20230915162355
ACCESSION NUMBER:		0001554795-23-000300
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230731
FILED AS OF DATE:		20230915
DATE AS OF CHANGE:		20230915
EFFECTIVENESS DATE:		20230915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Red Cat Holdings, Inc.
		CENTRAL INDEX KEY:			0000748268
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				880490034
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40202
		FILM NUMBER:		231259052

	BUSINESS ADDRESS:	
		STREET 1:		15 AVE. MUNOZ RIVERA
		STREET 2:		STE 2200
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00901-2510
		BUSINESS PHONE:		833-373-3228

	MAIL ADDRESS:	
		STREET 1:		15 AVE. MUNOZ RIVERA
		STREET 2:		STE 2200
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00901-2510

	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>NT 10-Q
<SEQUENCE>1
<FILENAME>rcat0915nt10q.htm
<DESCRIPTION>FORM 12B-25
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 20%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD>
  <TD STYLE="text-align: center; width: 40%"><B>FORM 12b-25</B></TD>
  <TD STYLE="width: 10%">&nbsp;</TD>
  <TD STYLE="border-top: Black 1pt solid; text-align: center; width: 20%; border-right: Black 1pt solid; border-left: Black 1pt solid">SEC File Number</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center"><B>&nbsp;</B></TD>
  <TD>&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid">001-40202</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center"><B>NOTIFICATION OF LATE FILING</B></TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left; width: 15%; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Check
    One):</I></FONT></TD>
    <TD STYLE="font: 10pt WP TypographicSymbols; text-align: left; width: 85%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">&#9744; Form 10-K&nbsp;&nbsp;&nbsp;&nbsp;&#9744; Form 20-F&nbsp;&nbsp;&nbsp;&nbsp;&#9744; Form 11-K&nbsp;&nbsp;&nbsp;&nbsp;&#9745; Form 10-Q&nbsp;&nbsp;&nbsp;&nbsp;&#9744; Form 10-D&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
                                                                               <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">&#9744; Form N-CEN&nbsp;&nbsp;&nbsp;&nbsp;&#9744; Form N-CSR</FONT></P></TD></TR>
<TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
    Period Ended: <B>July 31, 2023</B></FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;
    Transition Report on Form 10-K</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;
    Transition Report on Form 20-F</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;
    Transition Report on Form 11-K</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;
    Transition Report on Form 10-Q&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
    the transition period ended:&nbsp;&nbsp;_____________________________________________</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <TD STYLE="border: Black 1pt solid; width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><I>Read Instruction (on back page) Before Preparing
        Form. Please Print or Type.</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Nothing in this form shall be construed to
        imply that the Commission has verified any information contained herein.</B></P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>PART I - REGISTRANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">Red
    Cat Holdings, Inc.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Full Name of Registrant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">15
    Ave. Munoz Rivera, Ste 2200</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Address of Principal Executive Office <I>(Street
and Number)</I></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">San
    Juan, PR 00901</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">City, State and Zip Code</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>PART II - RULES 12b-25 (b) AND (c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the subject report could not be filed without
unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.&#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 6%; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
                                                      <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                      <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9745;</FONT></P></TD>
    <TD STYLE="border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K or Form N-SAR or Form N-CSR, or
    portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly
    report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof, will be filed on
    or before the fifth calendar day following the prescribed due date; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    accountant&rsquo;s statement or other exhibit required by Rule 12b-25(c) has been attached, if applicable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>PART III - NARRATIVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">State below in reasonable detail the reason
why Forms 10-K, 20-F, 11-K, 10-Q, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed
time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(Attach extra sheets if needed)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify">The Registrant has concluded that it is probable that the sale of its Consumer
segment will be completed in the second quarter of fiscal 2024.&nbsp;As a result, the Registrant will be reporting the operating results
for the&nbsp;Consumer segment as Discontinued Operations.&nbsp;This change in presentation will require&nbsp;additional time and effort
to complete.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>PART IV - OTHER INFORMATION</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) Name and telephone
number of person to contact in regard to this notification:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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="border-bottom: Black 1pt solid; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Jeffrey Thompson</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(833)</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">373-3228</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Area Code)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Telephone Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) Have all other periodic reports required
under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the
preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is
no, identify repor<FONT STYLE="font: 10pt Times New Roman, Times, Serif">t(s).</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yes
&#9745; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No &#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the subject report or portion thereof?</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;Yes&#9745; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No &#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 0pt">If so, attach an explanation
of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the
results cannot be made.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registrant expects to report revenue of $1.75
million for the quarter ended July 31, 2023, compared to $3.07 million reported as Consolidated Results for the quarter ended July 31,
2022. Revenue for the quarter ended July 31, 2022 was originally reported as comprised of $1.13 million for the Enterprise segment and
$1.94 million for the Consumer segment, but such reporting will be recast in the Form 10-Q for the period ended July 31, 2024 to reflect
the reporting of the Consumer segment as Discontinued Operations. This reporting of the Consumer segment as Discontinued Operations also
means that (i) Assets and Liabilities will be separately stated on the Balance Sheet, (ii) Net Loss will be presented as a single, net
amount on the Income Statement, and (iii) Cash Flows will be separately stated on that statement. The Registrant anticipates further changes
to results of operations resulting from the recast of the Consumer segment as Discontinued Operations but cannot quantify them at this
time.</P>

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    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 100%"><FONT STYLE="font-size: 10pt"><B>Red
    Cat Holdings, Inc.</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name of Registrant as Specified in Charter)</FONT></TD></TR>
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<P STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">has caused this notification to be signed
on its behalf by the undersigned heretofore duly authorized.</P>

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    <TD STYLE="padding-top: 0.75pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 0.75pt; width: 8%">&nbsp;</TD>
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    <TD STYLE="padding-top: 0.75pt; font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 0.75pt">Date:&nbsp;&nbsp;September 15, 2023</TD>
    <TD STYLE="padding-top: 0.75pt; font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 0.75pt">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-decoration: none; font-style: normal; font-family: Times New Roman, Times, Serif; text-align: left">/s/
    Jeffrey Thompson</TD></TR>
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    <TD STYLE="padding-top: 0.75pt; font-family: Times New Roman, Times, Serif; text-align: left; border-top-color: black; border-top-width: 1pt; padding-bottom: 0.75pt">Jeffrey Thompson</TD></TR>
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    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">Chief Executive Officer&nbsp;&nbsp;</TD></TR>
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    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
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