<SEC-DOCUMENT>0001554795-24-000176.txt : 20240723
<SEC-HEADER>0001554795-24-000176.hdr.sgml : 20240723
<ACCEPTANCE-DATETIME>20240723172900
ACCESSION NUMBER:		0001554795-24-000176
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240723
DATE AS OF CHANGE:		20240723

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Unusual Machines, Inc.
		CENTRAL INDEX KEY:			0001956955
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				660927642
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-94457
		FILM NUMBER:		241135566

	BUSINESS ADDRESS:	
		STREET 1:		4677 L B MCLEOD RD
		STREET 2:		SUITE J
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32811
		BUSINESS PHONE:		720-383-8983

	MAIL ADDRESS:	
		STREET 1:		4677 L B MCLEOD RD
		STREET 2:		SUITE J
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32811

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Red Cat Holdings, Inc.
		CENTRAL INDEX KEY:			0000748268
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				880490034
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	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>SC 13D/A
<SEQUENCE>1
<FILENAME>rcat0722sch13da1.htm
<DESCRIPTION>SCHEDULE 13D (AMENDMENT NO. 1)
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;(Amendment No. 1)</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Issuer)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Common Stock, par value $0.01 per share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class of Securities)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>U9154A 208</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(CUSIP Number)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>15 Ave. Mu&ntilde;oz Rivera, Ste. 2200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>San Juan, PR 00901-2510</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(833) 373-3228</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)</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: center"><B>July 22, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Date of Event Which Requires Filing of this Statement)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &sect;&sect;240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. [ ]</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>Note:</B> Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are
to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">* The remainder of this cover page shall be filled
out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a prior cover page.</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">The information required on the remainder of this
cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).</P>

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    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>U9154A 208</B></FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD COLSPAN="2" STYLE="border: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 1.5pt"><FONT STYLE="font-size: 10pt">1. Names of Reporting Persons</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">Red Cat Holdings, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">2. Check the Appropriate Box if a Member of a Group</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">(a) <FONT STYLE="font-family: Segoe UI Emoji,sans-serif">&#9744;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">(b) <FONT STYLE="font-family: Wingdings">&#252; </FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">3. SEC Use Only</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">4. Source of Funds</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">OO</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-family: Segoe UI Emoji,sans-serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">6. Citizenship or Place of Organization</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">United States of America</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="11" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; padding: 0.75pt 1.5pt 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Number of Shares</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Beneficially</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Owned by</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Each Reporting</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Person With:</P></TD>
    <TD STYLE="border-right: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 0.75pt 0.75pt"><FONT STYLE="font-size: 10pt">7. Sole Voting Power</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">0 (1)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 0.75pt 0.75pt"><FONT STYLE="font-size: 10pt">8. Shared Voting Power</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 0.75pt 0.75pt"><FONT STYLE="font-size: 10pt">9. Sole Dispositive Power</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">0 (1)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 0.75pt 0.75pt"><FONT STYLE="font-size: 10pt">10. Shared Dispositive Power</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt 0.75pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">11. Aggregate Amount Beneficially Owned by Each Reporting Person</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">0 (1)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-family: Segoe UI Emoji,sans-serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">13. Percent of Class Represented by Amount in Row (11)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">0%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt; border-right: black 1.5pt solid"><FONT STYLE="font-size: 10pt">14. Type of Reporting Person</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 1.5pt 1.5pt"><FONT STYLE="font-size: 10pt">CO</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD>&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">On July 122 2024,
    </FONT>Red Cat Holdings, Inc. (the &ldquo;Filing Person&rdquo;) <FONT STYLE="font-family: Times New Roman, Times, Serif">entered into
    Exchange Agreement with Unusual Machines, Inc. (the &ldquo;Issuer&rdquo;) pursuant to which the Filing Person exchanged 4,250,000 shares
    of Common Stock (&ldquo;Common Stock&rdquo;) of the Issuer for 4,250 shares of Series A Convertible Preferred Stock (&ldquo;Preferred
    Stock&rdquo;) of the Issuer. The exchange was made pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended. No other consideration
    was received by the Filing Person for the Common Stock or paid to the Issuer for the Preferred Stock. <FONT STYLE="font-style: normal; font-weight: 400;text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">The
Preferred Stock is not subject to&nbsp; conversion if the holder, together with its affiliates, would beneficially own in excess of 4.99%
of the number of shares of the Issuer&rsquo;s common stock outstanding immediately after giving effect to such conversion.</FONT></FONT></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">In connection with a working capital adjustment arising from the transaction
    in which the Filing Person previously received an 8% Promissory Note from the Issuer, on July 19, 2022, the Filing Person and the Issuer
    agreed to amend the terms of the 8% Promissory Note in order to increase the principal amount of the note from $2,000,000 to $4,000,000,
    among other changes. <FONT STYLE="font-style: normal; font-weight: 400;  text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">The
8% Promissory Notes are not subject to conversion if the holder, together with its affiliates, would beneficially own in excess of 4.99%
of the number of shares of the Issuer&rsquo;s common stock outstanding immediately after giving effect to such conversion.</FONT></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">In connection with the Exchange Agreement and the amendment of the Promissory
    Note, on July 22, 2024, the Filing Person entered into a Purchase Agreement with a private purchaser pursuant to which it agreed to sell
    its (i) 4,250 shares of Issuer Preferred Stock for $2,500,000, and (ii) 8% Promissory Note, as amended, to the private purchaser for $1,900,000.</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">As a result of the foregoing transactions, the Filing
    Person no longer holds any Issuer securities and accordingly the Filing Person will no longer be subject to Section 13 with regards to
    the Issuer.</P></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="background-color: white">This </FONT>Amendment No. 1 (&ldquo;Amendment
No. 1&rdquo;) to Schedule 13D (the &ldquo;Schedule 13D&rdquo;) <FONT STYLE="background-color: white">amends the Schedule 13D originally
filed on February 22, 2024 as set forth below. As set forth below, as a result of the transactions described herein, on </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">July
22, 2024 </FONT><FONT STYLE="background-color: white">each of the Filing Persons ceased to be the beneficial owner of more than five percent
of the shares of common stock of the Issuer. The filing of this Amendment No. 1 represents the final amendment to the Schedule 13D and
constitutes an exit filing for the Filing Person.</FONT></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"><B>ITEM 1. SECURITY AND ISSUER</B></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">This Amendment No. 1 to Schedule 13D relates to the
common stock, par value $0.01 per share of the Issuer. The principal executive offices of the Issuer are located at 4677 L B McLeod Rd,
Suite J, Orlando, Florida 32811.</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"><B>ITEM 2. IDENTITY AND BACKGROUND</B></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">(a) This statement is filed on behalf of the Filing
Person.</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) The principal business address of the Filing Person
is c/o Red Cat Holdings, Inc., 15 Ave. Mu&ntilde;oz Rivera, Ste. 2200, San Juan, PR 00901.</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">(c) The Filing Person is in the business of developing
and selling unmanned aerial technology, primarily drones, <FONT STYLE="background-color: white">to commercial enterprises and government
agencies</FONT>.</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">(d) During the last five years, the Filing Person
has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</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">(e) During the last five years, the Filing Person
has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding
were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violations with respect to such laws.</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">(f) The Filing Person is a Nevada corporation.</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"><B>ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">On July 22, 2024,
</FONT>the Filing Person <FONT STYLE="font-family: Times New Roman, Times, Serif">entered into Exchange Agreement with the Issuer pursuant
to which the Filing Person exchanged 4,250,000 shares of Common Stock of the Issuer for 4,250 shares of Series A Convertible Preferred
Stock (&ldquo;Preferred Stock&rdquo;) of the Issuer. The exchange was made pursuant to Section 3(a)(9) of the Securities Act of 1933,
as amended. No other consideration was received by the Filing Person for the Common Stock or paid to the Issuer for the Preferred Stock.
</FONT></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">In connection with a working capital adjustment arising from the transaction
in which the Filing Person previously received an 8% Promissory Note from the Issuer, the Filing Person and the Issuer agreed to amend
the terms of the 8% Promissory Note in order to increase the principal amount of the note from $2,000,000 to $4,000,000, among other changes.</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">In connection with the Exchange Agreement and the amendment of the Promissory
Note, the Filing Person entered into a Purchase Agreement with a private purchaser pursuant to which it agreed to sell its (i) 4,250 shares
of Issuer Preferred Stock for $2,500,000, and (ii) 8% Promissory Note, as amended, to the private purchaser for $1,900,000.</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">As a result of the foregoing transactions, the Filing
Person no longer holds any Issuer securities and accordingly the Filing Person will no longer be subject to Section 13 with regards to
the Issuer.</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"><B>ITEM 5. INTEREST IN SECURITIES OF THE ISSUER</B></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; text-indent: 0.25in">(a) See responses to Items 11
and 13 on the cover page.</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; text-indent: 0.25in">(b) See responses to Items 7,
8, 9 and 10 on the cover page.</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">&nbsp;</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">&nbsp;</P>


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<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: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and correct.</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">&nbsp;</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">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.75pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-bottom: 1.5pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-bottom: 0.75pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Red Cat Holdings, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date: July 23, 2024</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Jeffrey Thompson</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jeffrey Thompson, Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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