NetworkNewsWire Releases Exclusive Audio Interview with Patriot One Technologies, Inc. (PTOTF)
Marketwired
NEW YORK, NY--(Marketwired - Jul 18, 2017) - NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company that delivers a new generation of social communication solutions for business, today announces the online availability of its interview with Patriot One Technologies Inc. (TSX VENTURE: PAT) (OTCQB: PTOTF), a technology company focused on providing security and fighting terrorism with its award-winning PATSCAN CMR™ concealed weapons detection system.
Kicking off the interview, NNW's Stuart Smith introduces Martin Cronin, CEO and director of Patriot One Technologies, who describes the innovation of the Company's concealed weapon detection technology.
"What we are providing is a truly disruptive technology where our system can be deployed covertly behind walls, behind ceiling panels, wall panels, and just scan people without them needing to stop, without them being inconvenienced in any way and, critically, without them necessarily knowing that the scan has happened," says Cronin.
Patriot One's unique technology works by combining a low-power radar with machine learning algorithms to make a real-time determination of whether a person is carrying a concealed weapon, such as a gun or a knife or a bomb.
The system is fundamentally different from weapon detection technology currently in use, such as airport screening systems, handheld metal detector wands and metal detector arches. One area of differentiation is visibility. While traditional types of equipment are visible to the people being scanned, Patriot One's PATSCAN CMR™ system can covertly monitor passers-by.
After working for 21 years for the British government in a variety of roles, including counterterrorism in the Middle East and South Asia, Cronin is leveraging his international knowledge of high-risk environments to help create Patriot One's technology.
Though the Company isn't yet shipping a commercial product, it is gearing up to address increasing demands for its products from around the world. Patriot One has set a modest target for the number of units it planned on placing in clients' hands by the end of 2017.
"As it turns out we've had such demand that even before we can start installing those units, pretty much all of our volume that we anticipated for this year is already committed and we have new distributors coming online on a weekly basis," says Cronin. "New clients come to us on a daily basis."
To meet the surging demand from locations as diverse as New Zealand, South Africa, Britain, the Caribbean, and Latin America, Patriot One is seeking regional distributors and other partners with field service engineering capabilities.
"Our strategy at the moment is based upon identifying partners who have that bench strength and that field presence to allow us to address this market which is really just coming toward us at full speed at the moment," Cronin said.
Patriot One Technologies is the proud winner of the 2017 Security Industry Association's New Product Showcase in the Anti-terrorism/Force Protection category, which was a huge validation from a very distinguished panel, says Cronin. Taking a technology from a lab environment and producing it commercially involves a lot of uncertainty.
"Going from a situation where we could take the lab equipment out into the field, scanning 46 weapons types and delivering an accuracy rate of about 94% true positive detection -- which is just so far ahead of a metal detector -- it's in another world," he adds.
Patriot One is now in the process of acquiring certifications in the U.S. and Canada, a significant milestone that will enable the Company to start shipping its units to meet demand.
About Patriot One Technologies, Inc.
Patriot One Technologies is a technology company based in the city of Burlington in Ontario, Canada. The company is commercially developing covert technology to detect concealed weapons using novel radar technologies and custom software. Patriot One owns the rights to develop, license, manufacture and market worldwide a unique concealed weapon detection technology for use in the fight against terrorism and active shooters.
Developed through a NATO-funded project at McMaster University, Patriot One's disruptive NForce CMR1000 (PATSCAN) technology is the first cost-effective solution available for active shooter prevention, the need for which is evidenced by an increasing number of active shooter events in the United States and worldwide.
The company is guided by a team of experts in the areas of high-frequency electromagnetics, counter-terrorism, conflict resolution, government/corporate interface, sensor development, proactive security and business development. The company has partnered with, among other affiliates, Ridge Global, which was founded by recently appointed advisory board member Tom Ridge, the first head of the Department of Homeland Security, first U.S. Secretary of Homeland Security, and 43rd governor of Pennsylvania.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
