TORONTO, May 31, 2018 (GLOBE NEWSWIRE) -- Patriot One Technologies Inc., (TSX-V: PAT ) (OTCQX:PTOTF) (FRA:0PL) (“Patriot One” or the “Company”), developer of a revolutionary concealed weapons detection system, is pleased to provide the following corporate Q2 2018 update from CEO & President Martin Cronin.
Dear Patriot One Shareholders & Partners,
Thank you for your inquiries regarding our progress at Patriot One Technologies.
As you know, we have been working aggressively to complete and commercially introduce Patriot One’s PATSCAN CMR microwave radar technology, coupled with machine learning capabilities (i.e. cognitive microwave radar) to serve public security market needs. Our vision is aimed at saving lives that could otherwise be tragically lost due to terrorist and active shooter events – a mission we take very seriously. We know each of you, our valued investors and partners, take this responsibility seriously, as well. So, I am confident I speak for all of us in that we are determined to bring forward advanced systems known for consistent and effective performance, and which will surpass solutions currently seen in today's marketplace.
Having said this, let me address some common questions around our Q2, 2018 efforts.
Business Announcements Our team has been working intensely throughout this past quarter. As a public company, we are obliged to announce material events as they occur, and it further makes prudent business sense to provide accurate and complete updates as business activities advance. To that end, we expect to soon provide additional information regarding new commercial activities. While we are currently in the midst of negotiations and thereby constrained from offering specifics, we are pleased to provide insights into three key areas of focus: Key Partnerships, PATSCAN CMR progress and testing expansion, and Public Policy efforts.
Key Partnership Announcements The Company is in advanced discussions regarding key strategic partnerships, and consulting with leaders in the threat detection space. As a matter of business practicality, and as a publicly traded company, we remind the reader that many of our conversations are with other private and public entities, and because of mutual non-disclosure agreements, we cannot make formal public announcements until agreements and contracts are secured. It is a fact that several of these ongoing conversations could positively impact our efforts in three specific threat detection arenas: product integration, development and implementation. Furthermore, these potential opportunities include additional threat detection technologies that could augment and enhance our solution across diverse environments.
PATSCAN CMR Development Progress Among our many efforts, the management and engineering teams are focused on developing and honing the PATSCAN CMR antennae system. During the past 3 months (February-April 2018), our engineers invested significant time and effort fine tuning and managing minute background anomalies found in real-world environments that were not readily identifiable in previous laboratory studies. Our PATSCAN CMR hardware team, led by radar expert Dr. Paul Rice, has instituted an antenna update program, which includes additional testing at our Las Vegas development center.
We are justifiably pleased that our work with the Westgate Las Vegas Casino & Resort has provided in-depth and practical field study results at this key juncture. We have saved significant capital and amassed strategically important data that we would not have otherwise collected as quickly. Given that our product, when released commercially, will play a front-line defensive role in potential life and death situations, there is a fundamental need to ensure the technology works effectively. There is no “second best” or excuse for releasing a product until we are satisfied with its performance. It is also important to bear in mind that the PATSCAN system brings together multiple technologies, some of which have never before been configured for this type of application. While we had hoped to have the product development farther along by now, we are pleased with the advances made to-date and strongly believe our ongoing updates will deliver the performance characteristics required for the system’s intended commercial application. We have assembled an extraordinary team – from research and development to sales and marketing – that is at the top of its game and motivated to defeat the scourge of random shootings and their impact on our global society.
PATSCAN CMR Development Center Expansion As stated in earlier announcements over the quarter, our management and engineers have begun preparations to roll out two additional development centers – one at a major Midwest U.S. university and another in a Southeastern U.S. school district. We expect that working in these additional real-world environments, including applying recent advances in our antenna design, will further propel our hardware and software development and move our PATSCAN CMR solution further towards commercialization. Achieving high-quality operational functionality across diverse environments is a key precondition to product release, and we are grateful to work with a growing number of partners who believe in our quest.
Public Policy Efforts Lastly, I am pleased to share insights into our public policy efforts. A few weeks back, Patriot One participated in the Hoover Security Summit near Birmingham, Alabama. The team met with major law enforcement agencies representing several counties, municipalities and the University of Alabama, an institution that hosts over 120,000 visitors each week in its football stadium for their 8 home games for NCAA College Football. During the summit, we conducted a live broadcast from our Las Vegas Development Center to showcase our PATSCAN CMR solution, and all in attendance were keenly interested in learning more. Of particular note, we met the Executive Director for the National Association of School Resource Officers (NASRO). As a result, we are now in discussions about a roll out of Patriot One information to schools and resource officers across the nation.
Throughout this coming summer, our team will be back in Washington, DC to meet with more key congressional and government offices focused on school and public safety issues. Information will be made available as we work with officials to ensure Patriot One is well positioned with the many hard-working agents of change in the U.S. Capital.
Again, thank you for all your emails and outreach requests for information and updates. As always, we appreciate your support and commitment to our mission of a world where the threat of violence from unlawful use of weapons does not exist.
Sincerely,
Martin Cronin, CEO Patriot One Technologies, Inc.
About Patriot One Technologies, Inc. (TSX-V: PAT) (OTCQX:PTOTF) (FRANKFURT: 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 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. 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 information, visit: www.patriot1tech.com .
Media Contacts: North America: Scott Ledingham, PR Media Now scott@prmedianow.com +1-613-806-7135
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