Why am I receiving a No Tone message on the UTX-B03 transmitter display when paired with a URX-P2 receiver?

You are receiving a “No Tone” message because the Compander Mode on your UTX transmitter is set incorrectly and will not work with the URX-P2 Analog receiver.
In order for the two to function, you must set the Compander Mode to UWP not UWP-D.