Would the motto “Deter, Detect and Defend” be attractive enough to entice investors to invest in Patriot One Technologies Inc. (TSX:PAT)? The company was delisted from the TSX Venture Exchange (TSX-V) and the stock has begun trading on the TSX last April 9, 2019.
Investors might not yet find the nature of business palatable. On the other hand, governments would have a need for Patriot One’s technology to protect the citizenry. The mission of the company is to deliver innovative threat detection and counter-terrorism solutions for safer communities.
Patriot One Technologies falls under the technology sector of the TSX and belongs to the application software industry. The Canadian-based company is in the business of commercializing a system that could detect concealed weapons with the use of radar technologies.
Patriot One developed the radar technology called the PATSCAN CMR. It provides first responders and security personnel valuable time in active threat scenarios.
More important, this technology offers a stand-off detection of concealed threats that are likely to be present in public locations.
Aside from the cognitive ability to detect guns and knives, the PATSCAN CMR can assess threats. Prior to installation, the system undergoes training and programmed to learn continuously upon deployment. Over time and after every screening instance, it becomes smarter and more tenacious in detecting hidden weapons.
The PATSCAN™ Multi-Sensor Covert Threat Detection Platform is powered by the next generation AI/machine learning software. This network is suitable for covert deployment and far distant from places deemed as multiple weapons-restricted facilities.
The platform can identify and report threats wherever necessary such as car parks, building approaches, entryways, and facility interiors among others. Once installed and operational, it can identify weapons, related threats or other disturbances for quick security response.
Graduation to the TSX
Patriot One has been listed on the TSX-V since November 2016. The final approval to move up the center stage or the TSX was finally obtained. Aside from the honour of being listed on the main board, President & CEO Martin Cronin expressed confidence that 2019 will be a stellar year. The market cap as of this writing is $306.9 million and the price per share is $2.24.
It is worth mentioning that Patriot One Technologies Inc. was selected as the second best performing tech stock on the 2019 TSX Venture 50 for its exemplary performance in 2018.
The company’s high ranking was based on weighted market performance criteria, namely market cap growth, stock price appreciation, and trading volume covering the full-year 2018. Patriot One was chosen among Canadian and foreign entities listed on the TSX-V.
Patriot One is hoping to become a household name and be one of the top stocks on the TSX. With the increasing threats of terrorism and rising fear of crimes, the market for detection systems is huge.
But Patriot One carries prestige, not revenues. Before it can be rated as a good investment prospect, it needs to prove that it’s not a risky penny stock.
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Fool contributor Christopher Liew has no position in any of the stocks mentioned.