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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Patriot One Technologies Inc    CY   CA70339L1085

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Patriot One Technologies : Marks 3-Months of Global PATSCAN Sales with $2.7M in Signed Agreements

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06/22/2017 | 09:16pm CEST

By a News Reporter-Staff News Editor at Bioterrorism Week -- 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

"Martin Cronin"

Keywords for this news article include: Technology, Telecommunications (see also Telecommunications).

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Health Newsletters

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