**The setup:**
Vertically integrated US ammo manufacturer — brass, projectiles, lead smelting, finished rounds — out of Hagerstown, MD. Sells to military, law enforcement, and commercial. Now pushing into unmanned aerial systems (drones) too.
**Why it's on my radar:**
Reshoring critical ammo supply chains is a national security priority right now, and FBDT controls the entire production stack instead of outsourcing components like most competitors.
**Catalysts:**
**•** JV with ideaForge (world's #3 dual-use drone maker) called "First Forge Technology" — building US-made UAVs out of the same Maryland facility
**•** Dual-use exposure: ammo + drones under one roof
**•** 140+ sales channels already established for ammo distribution
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**Recent news:**
**•** Direct listing on Nasdaq under FBDT (Aug 20, 2026)
**•** ideaForge JV progressing — Maryland facility slated to host UAV manufacturing/assembly