TORONTO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”), developer of the PATSCAN™ Multi-Sensor Covert Weapon Detection Platform (“PATSCAN Platform”), wishes to provide the following corporate update.
Over the past quarter the Company has experienced exciting new developments. These include:
PATSCAN PLATFORM UPDATE
Patriot One continues to expand and develop its PATSCAN Multi-Sensor Threat Detection Platform. The Platform currently integrates artificial intelligence (AI) with four (4) diverse threat detection sensor and software components, including microwave radar, magnetic technology, chemical sensing and video analytics. The Company’s recent acquisition of XTRACT.ai has enhanced data fusion between PATSCAN sensors, helping lead to improved Platform performance.
FY2020 Q1 ANTICIPATED MILESTONES
Management continues to focused on three core areas as the Company begins this quarter.
Patriot One has a strong balance sheet with no debt and $45 million in working capital. The Company is firming up deployments of its PATSCAN Platform with initial clients, while advancing development of its sensors and the combined AI-driven software. Patriot One is vigilant about ensuring its PATSCAN Platform and each sensor component performs at the highest level within the marketplace.
Respectfully,
Martin Cronin
President and CEO
Patriot One Technologies Inc.
About Patriot One Technologies Inc. (TSX:PAT) (OTCQX: PTOTF) (FRA: 0PL): Patriot One’s mission is to deliver innovative threat detection and counter-terrorism solutions for safer communities. Our PATSCAN™ Multi-Sensor Covert Threat Detection Platform provides a network of advanced sensor technologies with powerful next generation AI/machine learning software. The network can be covertly deployed from far perimeter to interiors across multiple weapons-restricted facilities. The PATSCAN Platform identifies and reports threats wherever required; car park, building approach, employee & public entryways and inside the facilities. Each solution in the PATSCAN Platform identifies weapons, related threats or disturbances for immediate security response. Our motto Deter, Detect and Defend is based on the belief that widespread use of the PATSCAN Platform will act as an effective deterrent to diminish the epidemic of active threats around the globe. For more information, visit: www.patriot1tech.com or follow us on Twitter and Facebook.
For further information, please contact: Patriot One Inquiries info@patriot1tech.com www.patriot1tech.com
Investor Relations
John Martin
+1 (888) 728-1332
johnm@patriot1tech.com
Media Contacts:
Scott Ledingham, PR Media Now
+1-613-806-7135
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CAUTIONARY DISCLAIMER STATEMENT:
This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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