#Security
Stock News: Patriot One (TSX.V: $PAT.V) (OTCQB: $PTOTF) CEO Reports highlights
of Accomplishments of Last Quarter of 2017 and Key Milestones for
Upcoming Quarter
Company
has agreements with 13 large clients and distributors and backorder of 453
units committed for scheduled delivery over the next 12 months
TORONTO,
ON - January 26, 2018 (Investorideas.com Newswire) Patriot One Technologies
Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL)
, developer of a revolutionary award-winning concealed weapons detection
system, reports the following message from Company CEO Martin Cronin.
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
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.
For further information, please contact:
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.
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