Patriot One (TSX.V: $PAT.V)
(OTCQB: $PTOTF) CEO Martin Cronin summarizes Q3 2017/18 results, and offers
insights to year ahead
TORONTO,
ON - January 25, 2018 (Investorideas.com Newswire) Patriot One Technologies
Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) ("Patriot One" or the
"Company"), developer of a revolutionary award-winning concealed weapons
detection system, is pleased to provide the following message from Company CEO
Martin Cronin.
Read this news in
full at http://www.investorideas.com/news/2018/defense/01251TSXVPAT-CEOMartinCronin.asp
Dear
Shareholders, partners and stakeholders,
I
am pleased to provide the following highlights of the Company' s
accomplishments in the last Quarter of 2017, and to outline key milestones we
look forward to achieving in the upcoming quarter.
The
last few months have been marked by a number of significant events and
activities.
2018 LAS VEGAS SECURITY FORUM: January 2018
saw Patriot One co-host a full day security forum at the Westgate Las Vegas
Resort & Casino. This forum attracted top security leaders from the Las
Vegas entertainment and resort industries, as well as federal and local law
enforcement officials. Almost fifty (50) select attendees with purchasing
authority for over 150 U.S. resort and casino properties participated, and
received a presentation of PATSCAN as part of the day' s activities. Feedback
was unanimously positive. We expect to develop significant opportunities from
this successful event.
ENGINEERING & REGULATORY
ADVANCEMENTS: Based
on our ongoing efforts at our Las Vegas Development Center, our engineering
team has significantly increased its ability to support additional client
feature requests. The team has fielded, and is now testing, a growing number of
applicable use-case scenarios for in-market demonstration. Most notably, we
have enabled our algorithms to make use of neural networks to complement
existing processes. Additionally, as part of our global deployment efforts,
PATSCAN has completed all requisite testing and is now certified by the
European Telecommunications Standards Institute (ETSI), making PATSCAN saleable
in 66 countries across Europe, the Middle East and Asia.
SALES & MARKETING: Our sales and
go-to-market efforts continue to generate daily requests for PATSCAN globally.
The product was recently featured prominently in coverage by Fox News, Security
Today, and WIRED Magazine. Complementing this media coverage, PATSCAN will be
seen publicly at events including the upcoming ISC West conference in April.
Our Sales and Marketing team is planning to maximize our event visibility
directly and through various reseller and technology partner activities.
Further, our sales efforts continue to inform and attract distributors,
governments and private clients worldwide. We currently have agreements with 13
large clients and distributors, with a backorder of 453 units committed for
scheduled delivery over the next 12 months.
MANAGEMENT ADDITIONS &
UPDATES: As
announced earlier this week, Patriot One is very excited about several
management additions, their respective strengths and our increased development
focus. The additions of Mr. Robert Lex, Senior Vice President of Operations,
and Dr. Paul Rice, Ph.D., Vice President of Research, Radar Systems, offer
significantly increased ability to advance our development and
commercialization pace. The shift of Mr. Dinesh Kandanchatha to the role of
corporate strategy, corporate development and business alliances, will
dramatically aid the Company' s growth for 2018 and beyond.
FINANCING TO FUND ONGOING
DEVELOPMENT: Last
but not least on this list of quarterly achievements is the successful closing
of a significant financing round, which has enabled us to accelerate PATSCAN
solution deployment to core verticals originally targeted in 2017, and which
will be a continuing focus in 2018. These active installations will provide the
means to integrate PATSCAN into client infrastructure, as well as further
refine our cognitive microwave radar under actual live, real-world conditions.
Further to this end, we will expand our initial deployment at our Westgate Las
Vegas Resort & Casino development center. In addition, during Q1/Q2, 2018
our deployment of the PATSCAN CMR solution will target multiple U.S. and
Canadian municipal, educational and governmental sites. The goal is to
accelerate systems deployment in Florida, the U.S. Midwest and Canada in order
to advance our machine learning processes across multiple live interactive
customer locations. To achieve this goal, we have added an additional three
technical staff to support customer development and test installations.
THANK YOU FOR YOUR ONGOING
SUPPORT: In
closing, I thank our Board for its counsel and guidance through 2017. I am also
grateful to our many investors, both long-standing and those new to Patriot
One, for their valuable feedback and support over the past several quarters. We
are excited by the prospects ahead and committed to building upon 2017
achievements. Our team is focused on generating significant client and
shareholder value for those who have placed their confidence in our ability to
deliver a game changing solution to the world.
ON BEHALF OF THE BOARD
"Martin
Cronin"
CEO and Director
CEO and Director
About Patriot One Technologies, Inc. (TSX.V:PAT) (OTCQB:
PTOTF) (FRA: 0PL):
Patriot
One has developed PATSCAN CMR™ the next generation of its award-winning radar
device and software solution. PATSCAN CMR is a first-of-its-kind Cognitive
Microwave Radar concealed weapons detection system, designed as an effective
tool to combat active shooter threats before they occur. Built for
cost-effective deployment in weapon-restricted buildings and facilities, the
Patriot One software solution and related hardware can be installed in key
access points to covertly identify weapons and to alert security of an active
threat. Owner/operators of private and certain public facilities can now
prominently post anti-weapons policies with compliance assured. The Company’s
motto Deter, Detect and Defend is based on the belief that widespread use of
its technology will act as an effective deterrent, thereby diminishing the
epidemic phenomena of active shooters across the globe. For more information,
visit: www.patriot1tech.com.
Patriot One Technologies are proud winners of the 2017 Anti-Terrorism / Force
Protection category of the Security Industry Association’s New Product Showcase at ISC West.
Patriot One Inquiries
John Martin, Investor Relations
+1 (888) 728-1832
CAUTIONARY DISCLAIMER STATEMENT:
No
Securities Exchange has reviewed nor accepts responsibility for the adequacy or
accuracy of the content of this news release. This news release contains forward-looking
statements relating to product development, licensing, commercialization and
regulatory compliance issues and other statements that are not historical
facts. Forward-looking statements are often identified by terms such as
"will", "may", "should", "anticipate",
"expects”,” believes,” and similar expressions. All statements other than
statements of historical fact, included in this release are forward-looking
statements that involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
expectations include the failure to satisfy the conditions of the relevant
securities exchange(s) and other risks detailed from time to time in the
filings made by the Company with securities regulations. The reader is
cautioned that assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may cause actual
results to differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Company. The reader is cautioned not to place undue
reliance on any forward-looking information. Such information, although
considered reasonable by management at the time of preparation, may prove to be
incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news release and
the Company will update or revise publicly any of the included forward-looking
statements as expressly required by applicable law.
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news is published on the Investorideas.com
Newswire – News that Inspires big ideas Disclaimer/Disclosure:
Investorideas.com is a digital publisher of third party sourced news, articles
and equity research as well as creates original content, including video,
interviews and articles. Original content created by investorideas is protected
by copyright laws other than syndication rights. Our site does not make recommendations
for purchases or sale of stocks, services or products. Nothing on our sites
should be construed as an offer or solicitation to buy or sell products or
securities. All investment involves risk and possible loss of investment. This
site is currently compensated for news publication and distribution, social
media and marketing, content creation and more. Contact each company directly
regarding content and press release questions. Disclosure is posted for each
compensated news release, content published /created if required but otherwise
the news was not compensated for and was published for the sole interest of our
readers and followers. More disclaimer info:
http://www.investorideas.com/About/Disclaimer.asp. Disclosure this news is a
paid for news release on the Investorideas.com newswire by Patriot One
Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF) Learn more about costs and our
newswire service http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global
Investors: Effective September 15 2008 - all BC investors should review all OTC
and Pink sheet listed companies for adherence in new disclosure filings and
filing appropriate documents with Sedar. Read for more info:
http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to
regulations of each country.
HomelandDefenseStocks.com - investing
ideas for Defense stocks, Biometrics stocks, Homeland security stocks,
Biodefense stocks, Cyber security stocks
Like Defense and Security Stocks?
View our Defense and Security Stocks
Directory Get News Alerts on Defense
Stocks
No comments:
Post a Comment