There's been no shortfall of news releases surrounding Patriot One Technologies Inc. (TSX-V:PAT)(OTCQB:PTOTF) this month. In fact between IR-related releases on NetworkNewsWire and corporate press releases, there was eight consecutive days of releases (on market days).
After taking a week off, the company on Thursday said that it was initiating sales in the Pacific Rim, a wide geographic region surrounding the edges of the Pacific Ocean. While generally thought of as countries like Australia, New Zealand, China, Japan and South Korea, the Pacific Rim ultimately includes over 60 countries that touch the Pacific Ocean, including the U.S., Mexico, Canada and Russia, amongst others.
Patriot One, a Toronto-based developer of the PATSCAN CMR concealed weapons detection system, said it struck a resaler agreement with Aotea Security (NZ) Ltd., a Dunedin, New Zealand-based accredited national systems integration company.
Aotea is the security specialist unit of the Aotea Group of companies, the only nationwide provider of electronic security, electrical, fire and communications services.
In a world where terrorist and violent behavior is becoming a daily topic of news, PATSCAN CMR is a cognitive microwave radar concealed weapons detection system using signal generators, algorithms and antennas to accurately detect the major types of weapons used in active shooter and terrorist events, such as different type of knives, bombs and guns. When a threat is detected, a notifications are sent to the responsible party (i.e. text, email, web interface, phone).
With the pact, Aotea will be adding PATSCAN CMR to its portfolio of offerings, effectively opening the entire country of New Zealand up to Patriot One.
The company says that the relationship with Aotea started at the Security Industry Association's New Product Showcase in Las Vegas in March. Patriot One was awarded the Anti-Terrorism--Force Protection category at the convention.
While potentially representing a new, large market opportunity, investors aren't jumping all over the stock on the news. Shares are down a tepid 1.3% at $0.75 with about one hour left in Thursday's trading session. After hitting a high of $2.03 late in November, shares are down about 47% so far in 2017.
