Tailwinds’ Take: Great to see that initial demand is coming in ahead of expectations. Comments such as reseller influence growing, or demand accelerating, leads us to believe that is is just the beginning for Patriot One.
TORONTO, ON–(Marketwired – Jun 13, 2017) – Patriot One Technologies Inc. ( TSX VENTURE : PAT ) ( OTCQB : PTOTF ) ( FRANKFURT : 0PL ) (“Patriot One” or the “Company”), developer of the award-winning PATSCAN CMR™ concealed weapons detection system, is pleased to report that in the three months since product marketing began during the lead up to the ISC West trade show in Las Vegas, confirmed sales commitments now top $2.7 million.
Patriot One sales efforts are currently focused on categories including houses of worship, academic institutions, event centres, casinos, commercial offices, hotel properties, government agencies and other locations at high risk of terrorist attack. Orders have been received from locations spanning four continents, and new territorial opportunities are opening as reseller influence grows.
Patriot One President and CTO Dinesh Kandanchatha notes, “Our roll-out program initially conceived finalizing our engineering in early spring in order to meet Industry Canada and FCC certification requirements by late summer. This timing also aligns with our go-to-market packaging initiative and expectation that we will begin shipments to end-user installations by Q4 of this year.”
As a result of recent sales performance, as well as new agreements with resellers in Canada, the US, the UK, and South Africa, Patriot One is now receiving requests to employ special waivers allowing for the immediate deployment of PATSCAN CMR to users that have a demonstrated need under certification exemption guidelines.
“We have informed our supply chain partners of the accelerating demand, and I am confident that our scalable manufacturing processes will be well equipped to fulfil our orders,” says Kandanchatha. “It means a lot of work ahead, but it is a highly positive and not wholly unanticipated situation at this phase of our strategic growth plan.”
Martin Cronin, Patriot One CEO, notes, “Proving out demand is a key factor for any early stage company with an exciting new product. The surge we are experiencing reflects the outcomes of repeated successful demonstrations of the system’s capability. The word on Patriot One’s weapons detection solution is spreading rapidly.”
Cronin adds, “All of us at Patriot One Technologies are honoured to have the opportunity to deploy a product with such value as a catalyst for positive change. To have an opportunity to improve public safety and to save lives as a basis for a successful business venture is something we all are very proud of.”
ON BEHALF OF THE BOARD
CEO & Director
About Patriot One Technologies, Inc. ( TSX VENTURE : PAT ) ( OTCQB : PTOTF ) ( FRANKFURT : 0PL ):
Patriot One has developed PATSCAN CMR™ the next generation of its award-winning Patriot One Technologies™ NForce CMR1000 software and radar solution. PATSCAN CMR is a first-of-its-kind Cognitive Microwave Radar concealed weapons detection system as an effective tool to combat active shooter threats before they occur. Designed for cost-effective deployment in weapon-restricted buildings and facilities, the Patriot One software solution and related hardware can be installed in hallways and doorways to covertly identify weapons and to alert security of an active threat entering the premises. 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.
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” 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.