Terror is has become a global problem which requires well thought out technology solutions and research on how to cope with this threat to global peace. Many numbers of active domestic shooting incidents have also been quite frequent lately.
As such, entities that take up the responsibility to combat this menace head on would not only be doing the world a big favour but also be deep in the money. This is what PATRIOT ONE TECHNO (OTCMKTS:PTOTF) is all about. To prove this is their share price.
The company has been trading at below $1 only a few days back, even going as far as trading below $.9 on some days. However, the new week has come with new turns that have seen its share price surge past the $1 mark to close at $1.3 as can be seen in the chart below:
We have therefore chosen to evaluate this price action and establish the feasibility of investing in PTOTF wither as a short-term or long-term investment.
PTOTF: Then and Now
Before then, let us first have a recap of who PTOTF is.
The company was founded in 2010 and headquartered in Mississauga, Canada. It aims to provide IT security solutions, application and logistics solutions for government and commercial organizations in the United States and internationally. It offers security solutions for infrastructure needs including prevention of an attack, risk management to assess risk and vulnerabilities and IT management for operational support.
Patriot also offers solutions that are in line with the ongoing security challenges such as cyber-crimes, data centers, end-user computing and manufacturing, and logistics.
Their novel product, however, is the source of their brand.
Patriot One and a reputed University have developed a portable devices and software solutions to assist military and civilian security personnel in detecting hidden weapons. Details of the system can be read in our last review of the company.
Currently, they are commercializing their PATSCANTM CMR technology as an automated system capable of covertly screening moving individuals for on- body concealed weapons such as knives, handguns, grenades explosive vests, etc.
In the area of mobile technology whose use has gone way beyond that of personal computers, there is a corresponding increase in the risk of mobile threats. Data loss prevention is a crucial indicator of security breaches which can be traced back to use of mobile devices. According to cybersecurity ventures report, cyber-attacks are the fastest growing crime in the US both regarding size sophistication and cost. Organizations must have a robust process in place ensuring that the software they use is the latest version.
It is estimated that cybercrime will cause $21trillion in damages by 2022. In 2017 alone cybercrime cost more than $86.4 billion with that number expected to exceed $93 billion in 2018. The next step in the cybercrime security lapses is prevention, and if performed correctly the process doesn’t waste time in detecting the threat.
This is where Patriot wishes to close this market gap and cultivate a niche as a global leader.
Embracing the Future
One facility that has embraced Westgate security system is Westgate Hotel in Las Vegas. As at 12th December 2017, the state of the art security system can help determine whether one poses any security threat before gaining entry into the hotel which unlike metal detectors, no stopping point or pat downs is making it reasonably foolproof.
Although developers who have been working at Westgate hotel see this as a pilot program, they have received several inquiries from other Las Vegas hotels.
Management is confident that the success of this programme will be the beginning of the company’s venture not only within Las Vegas but also into other industries and the world at large.
On 13th December 2018 PATRIOT, a global leader in performance memory SSD’s, gaming peripherals and flash storage solutions announced together with their high-end gaming brand, VIPER, that they will be attending CES 2018 from January 9th to the 11th,2018. VIPER promised to be showcasing new products. Through VIPER GAMING Patriot takes pride in designing and building high-quality products that every type of gamer requires today that would give them a competitive edge.
VIPER plans to continue developing creative and outstanding DRAMs, peripherals and accessories for complementing gamers worldwide. PATRIOT’s gaming brand has grown by leaps and bound seen in vitality and importance over the past few years.
Financing Options and Growth
Patriot one closed a deal of $10.5 in mid-November 2017. This was done with a syndicate of underwriters led by Canal Cord Genuine Corp, and this led to an increase in its size to $11.5 million. The company’s new round of investment will see an increase in working capital to approximately $15 million and enable it to expand on product development efforts and meet global demand of PATSCAN.
Part of the financing will also go into research to develop future iterations of the technology. The uptake of mobile technology and the vulnerability of data for would-be users is an area that the company needs to research on wearable devices for police officers and detection of non-traditional weapons-grade materials.
The above rounds of financing will also play a key role in ensuring the company’s growth strategy is actualized. This will be achieved in two ways: product installations and building development centers.
Courtesy of receiving the FCC’s approval for the commercial rollout of PATSCANTM CMR, the company intends to start a rollout program of client installations and optimizing software configurations to meet real-world demands and variables. The company’s systems will be deployed in the USA market initially in Las Vegas as well as in Canada. The installations will help the company to have the necessary infrastructure in place so that detection parameters will already be in place as commercial deployment advances.
Finally, the company operates two development centers both located in Ontario Canada in the cities of Burlington and Ottawa. The company plans to expand into two additional product development centers one in America and another in the United Kingdom both of which have in the past experienced severe security challenges.
With this, the company’s aim of industrial domination won’t be far off, and given the novelty of their product, the payoff accruing from this strategy are soon to be realized.
PTOTF has grown by leaps and bounds. Their success within the defense industry is palpable and their growth imminent. We expect that they will keep rising the ranks and remain bullish about the stock.
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Disclosure: We have no position in PTOTF and have not been compensated for this article.