Yesterday, small cap security stockPatriot One Technologies (OTCQB: PTOTF; TSE: PAT.V) announced that its award-winning PATSCAN CMR (Cognitive Microwave Radar) concealed weapons detection system had received Industry Canada (IC) certification for commercial use in Canada withinitial deploymentsto be undertaken in collaboration with law enforcement and government agency personnel at several strategic locations. However and due to the operational and sensitive nature of their activities, the law enforcement organization names and installation locations are withheld under non-disclosure agreements. The planned deployment of the PATSCAN CMR by these organizations is currently for internal, non-public use, and will focus on physical installation processes, fine tuning weapons profiles and ongoing software validation studies.
The PATSCAN system is afirst-of-its-kind Cognitive Microwave Radar concealed weapons detection system thatsan effective tool to combat active shooter threats before they occuras itsdesigned for cost-effective deployment in weapon-restricted buildings and facilities.The 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 facilitiescan thenprominently post anti-weapons policies with compliance being assured. The Companyhas already secured sales commitments for more units than it had planned for 2017 and is now finalizing sub-manufacturing agreements to increase its 2018 production capability in order to meet growing demand.
As for the latest announcement, CEO Martin Cronin stated:
We are gratified that a major regional police force has stepped forward to offer locations and personnel to assist our efforts in optimizing best practices for installation and operation. We are also working with an important enforcement arm of the Canadian government that has shown a keen interest in engaging a PATSCAN CMR deployment on-premise.
We are very thankful to have the co-operation, time and effort of the officers and related civilian personnel, and their support for our quest to guard the public from random acts of violence
CTO Dinesh Kandanchatha added:
The receipt of our Industry Canada approvals is a validation of our engineering and manufacturing processes for regulated environments which mirrors our efforts in the USA. We have worked hard to build our certification expertise and anticipate FCC authorization shortly. Today we are excited to get our equipment into customers hands to further prove the systems efficacy in typical day-to-day situations at client locations. We are also excited by the opportunity to work with established software and hardware vendors to create a robust integrated security solution.
Patriot One Technologies is a small cap Canadian listed stock; but for American investors, shares trade on the OTC Venture Marketplace (OTCQB) – the middle tier of the over-the-counter (OTC) marketintended for entrepreneurial and development stageUS and international companies. To be eligible for a OTCQB listing, companies must be current in their reporting to aUS regulator (or are listed on a qualified international stock exchange)and undergo an annual verification and management certification process to verify officers, directors, controlling shareholders and shares outstanding. This means that OTCQB stocks offer more piece of mind for small cap investors and traders alike.