Technology deserves its place in the sun, out of the murk created by pandemics and such.
One company appearing to get its “propers” as kids say today is, Scottsdale, Arizona-based AMMO, Inc. (OTC: POWW), a premier American ammunition and munition components manufacturer and technology leader, which is expanding its manufacturing and production capabilities at its facilities in Arizona and Wisconsin to meet the increased demand as a result of COVID-19 and the upcoming election.
With the significant rise in recent pistol and small rifle ammunition purchase orders, AMMO’s production facilities are currently operating at near maximum capacity. As a result, AMMO is expanding its current production and manufacturing capacity through additional tooling and equipment at each of its facilities in Payson, AZ and Manitowoc, WI.
AMMO’s facility in Payson, which primarily serves retail partners, is currently operating at surge capacity of 115% with employees working two shifts, seven days a week. For context, this facility was operating at 50% capacity for the quarter ended September 30, 2019. AMMO will be investing $200,000 to install two machines, which will be fully operational within the next 30 days, to increase the output of pistol ammunition by 20%.
POWW stock moved into Tuesday’s final hour of trading with, well, a bang, gaining 25 cents, or 15.2%, to $1.90 on 68,000.
On the Canadian side, there’s Toronto-based 01 Communique Laboratory Inc. (TSX-Venture:ONE), which has signed a Technology Licensing Agreement with Hitachi Solutions Create, Ltd. for the Japanese market. This agreement has replaced the Memorandum of Understanding, which has been place for the last year and a half.
Under the terms of the agreement the parties agree to apply for Japanese patent protection of the IronCAP technology and HSC agrees to license the IronCAP technology for the Japanese market.
To quote ONE President Andrew Cheung, "We believe that Japan represents an excellent market opportunity for our IronCAP technology beyond North America. IronCAP is at the forefront of the cyber security market to protect customers from cyber-attacks and the very serious risk of future quantum computer attacks."
ONE shares vaulted 2.5 cents, or 25%, to 12.5 cents, Tuesday on 285,000 shares.
