Patriot One Technologies – har vi fortfarande ett starkt case trots de senaste dagarnas nedgång?

Det har varit en del oro med anledning av några dagars kursnedgång. Vi har också sett rimliga teorier och förklaringar om detta, både från amatörer, erfarna investerare i gruppen, professionella analytiker och från bolaget själv. Såvida vi inte ser ett ras till en rejäl bit under 1 CAD så tror jag att vi kan vara fortsatt trygga i vår investering, som vi läst på så mycket om och vars case är starkt utifrån den information som vi har att tillgå.

Jag tror att ett klargörande är oerhört viktigt när det gäller Patriot One Technologies, som jag samtidigt också hoppas kan förklara varför jag anser att den besvikelse och oro som en del har uttryckt de senaste dagarna inte är särskilt välförankrad i information som skulle kunna ge anledning till oro (självklart kan jag inte säga att det i framtiden aldrig kommer finnas risk för att aktien rasar – det kan man som bekant aldrig – men detta är inte ett sådant tillfälle).

Många kanske undrar vad det är som händer och varför vi inte hör något från bolaget gällande exempelvis flera stora order, lukrativa avtal med samarbetspartners etc. Men faktum är att bolaget har kommunicerat allt detta till marknaden redan. Informationen finns också här i gruppen. Men det är inte så lätt att hitta den, särskilt om man inte har tid. Därför känns det tacksamt att ha så engagerade medlemmar som hjälper till att plocka fram den.

Sammanfattning

  • Fram till godkännandet i Kanada (6 september 2017) och USA (2 oktober 2017) har Patriot One Technologies inte fått kommersialisera sina produkter. Det är så lagen ser ut så inget konstigt med det.
  • Patriot One Technologies VD Martin Cronin förklarar detta pedagogiskt i två olika intervjuer den 21 augusti 2017 resp. 26 september 2017. Se nedan. Han förklarar också vad bolaget måste göra innan storskalig försäljning drar igång, vilket också är bolagets strategi. I korthet handlar det om att Patriot One Technologies är selektiva i sitt urval av initiala kunder. Man väljer ut ett mindre antal early adopters/key customers som måste arbeta tillsammans med Patriot One Technologies och testa och utvärdera produkten.
“So, we’re having to identify some early adopter clients who we can work with who will be a key point of reference in the market and who have the level of sophistication to work with us to look at how best to deploy, make sure that we can learn any lessons from the field that we haven’t anticipated and that they as a client can really think about how they can deploy it.”

“So, the initial roll out is a relatively small number of sites with early adopter clients, so … they can learn how to implement the system. That will prepare us for a mass market roll out in 2018.”

  • Därefter inleds den stora kommersiella fasen Q1 2018. Alltså när early adopters/key customers har använt produkten i reella miljöer och användningsområden. T ex håller en polismyndighet på med detta just nu.
  • Produktionsmålet för 2017 är satt till 300 enheter.
  • Patriot One Technologies har pre-orders på 300 enheter, vilket enligt tidigare kommunikation varit bolagets försäljningsmål för 2017.
  • Patriot One Technologies utmaning är enligt VD Martin Cronin vilka kunder de ska välja, inte att skaffa kunder. Intresset är överväldigande och bolaget blir uppvaktade dagligen från köpare runtom i världen.
  • Patriot One Technologies har en produktionskapacitet på 300 enheter i månaden just nu, men kommer inom kort att öka den till mellan 1000 och 2000 enheter per månad och Martin Cronin förmedlar att företagets produktionsbehov för de kommande 12 månaderna därmed är täckt.
  • 2018 ska en ”mass market roll out” äga rum.
  • Patriot One Technologies milstolpar:

Key Milestones Targeted by Patriot One UPDATED

VD Martin Cronin om kunder, strategi, försäljning, produktion, logistik och milstolpar

Här presenteras två intervjuer. Sammanfattning ovan baseras i allt väsentligt på dessa två intervjuer.

Notering: Patriot One Technologies produkt är godkänd i både Kanada – 6 september 2017 – och USA – 2 oktober 2017

Intervju 1

http://tailwindsresearch.com/2017/08/patriot-one-ceo-interview/

Martin Cronin: We come out from that (IC approval) with hardware locked down and so that we’re ready to meet our next milestone, which is to make customer installation in the 4th quarter 2017.

Q: So, you start with customer installs in the 4th quarter. What sort of customers are you seeing and what sort of customer traction are you getting initially?

Martin Cronin: Our challenge really is who do we choose. We’ve had such overwhelming interest. Clearly this is a technology whose time has come. We’re getting approaches literally on a daily basis from right across the world. So, we’re having to identify some early adopter clients who we can work with who will be a key point of reference in the market and who have the level of sophistication to work with us to look at how best to deploy, make sure that we can learn any lessons from the field that we haven’t anticipated and that they as a client can really think about how they can deploy it.

So, the sort of clients that we are talking to is of course in government federal departments, in mass transportation, in tourism & hospitality, casinos, the health sector, higher education, retail… the list is almost endless and we know that we can’t just do it all in a drop of a hat, we can’t turn on the shift and just ship units out tomorrow. That will be a recipe for some failures in the market. We can’t afford to do that. So, we’re picking them very carefully. We’ll have some key reference clients here in Canada, some key clients in the US, we’ll be doing an installation in London, and we’ll likely be doing one in South Africa.

Q: So, you start with customer installs in the 4th quarter. What sort of customers are you seeing and what sort of customer traction are you getting initially?

Martin Cronin: Our challenge really is who do we choose. We’ve had such overwhelming interest. Clearly this is a technology whose time has come. We’re getting approaches. Literally on a daily basis from right across the world. So, we’re having to identify some early adopter clients who we can work with who will be a key point of reference in the market and who have the level of sophistication to work with us to look at how best to deploy, make sure that we can learn any lessons from the field that we haven’t anticipated and that they as a client can really think about how they can deploy it.

So, the sort of clients that we are talking to is of course in government federal departments, in mass transportation, in tourism & hospitality, casinos, the health sector, higher education, retail… the list is almost endless and we know that we can’t just do it all in a drop of a hat, we can’t turn on the shift and just ship units out tomorrow. That will be a recipe for some failures in the market. We can’t afford to do that. So, we’re picking them very carefully. We’ll have some key reference clients here in Canada, some key clients in the US, we’ll be doing an installation in London, and we’ll likely be doing one in South Africa.

Q: So, you talk about being sold out through the 4th quarter and possibly beyond. Can you talk a little bit about the production site, what the constraints and bottlenecks are and how you’re going at it from that standpoint?

Martin Cronin: Sure. Our supply chain is well locked down. We, in our business plan that we communicated to the market, said that we had a target of 300 units the end of this year. Those are all now pre-committed with clients. Our supply chain – the item with the longest lead time is the signal generator which is produced for us on a contract in the US. They can do currently 300 units a month which additional lead time with retooling. They can ramp that up to 1 000 or 2000 units a month. So, we have supply chain locked down for our immediate demands for the next 12 months and were already working on much higher volumes that we anticipate beyond that period.

Q: You have a number of demos out in the field. Can you talk about the status of these demo units and how things are going?

Late spring early summer we went out to a number of cities and did client demonstrations in the premises of clients who wanted the system. But also, they allowed us to bring other prospective customers. So, when we went in to a city like Orlando we would set up in a client’s premises and run another dozen or so clients through to see the technology in action and that led to these additional purchase orders which means that our volume is now fully committed. What we will be doing now… because until we have regulatory approval we can’t go and install and be always on in a client’s environment. So, the difference now is going through the certification process from here on and now these become permanent installations in client’s premises rather than a showcase demonstration.

Q: What are your major concerns going forward?

Well, once you’re on the field you’ll discover things that you haven’t anticipated, the unknowns. We have to make sure that we have robust enough field service strength to be able to get on top of those things immediately to ensure that that our customers get a really seamless installation process. For example, on one of these client demonstrations we took the unit out to the field in Minneapolis, set it up and the system was working beautifully and then all of a sudden, the system went haywire. What it was, was a large elevator which only moved once in a while behind a wall opposite. Nobody knew it was there and just once in a while it moved into the field, a giant metal box. This is radar. The radar seeks this giant metal object. So, it’s those sorts of things. Which is why I said that we’re not just boxing up these units, shipping them out the door and saying “away you go, good luck”. It’s about building a position of trust in the market.

Intervju 2

https://investingnews.com/daily/tech-investing/cybersecurity-investing/martin-cronin-patriot-one-technologies-expects-fcc-approved-us-imminently/

INN: I note that the company isn’t yet shipping commercial product yet, but plans to by the end of this year. What will the company do moving forward to meet demand for the product?

MC: The key catalyst for us is having regulatory approval. All electronic devices need to have regulatory approval, governing emissions to show that they’re safe for the public.

We now have our Industry Canada approval and we expect to be FCC approved in the US imminently. That’s the catalyst to then allow us to go out and do commercial installations. That roll out is a very careful process because this is a machine learning system. It’s got to go out and learn its environment, it’s got to learn the effect of high temperature, low temperature, having elevators … having air conditioners, etc. Then all of that learning gets pushed out to our investors. So, the initial roll out is a relatively small number of sites with early adopter clients, so … they can learn how to implement the system. That will prepare us for a mass market roll out in 2018.

INN: I note that the company isn’t yet shipping commercial product yet, but plans to by the end of this year. What will the company do moving forward to meet demand for the product?

MC: The key capitalist for us is having regulatory approval. All electronic devices need to have regulatory approval, governing emissions to show that they’re safe for the public and that they don’t have to be with … systems.

We now have our Industry Canada approval and we expect to be FCC approved in the US imminently. That’s the catalyst to then allow us to go out and do commercial installations. That roll out is a very careful process because this is a machine learning system. It’s got to go out and learn its environment, it’s got to learn the effect of high temperature, low temperature, having elevators … having air conditioners, etc. Then all of that learning gets pushed out to our investors. So, the initial roll out is a relatively small number of sites with early adopter clients, so … they can learn how to implement the system. That will prepare us for a mass market roll out in 2018.

INN: In September, the company announced its PATSCAN CMR™concealed weapons detection system that received Industry Canada certification for commercial use. What has investor response been to this?

MC: This is one of the key catalysts… the FCC is seen as the big one because of the size of the US market. But, the good thing about getting the industry Canada certification, firstly, it allows us to operate in our home market in Canada, but also the regulations are identical in Canada and the US. So, having satisfied the Industry Canada approval process, we have a high degree of confidence that our FCC certification is imminent. And that, I think, is a big catalyst for the market.

INN: Looking forward, what is the company most looking forward to in the months ahead?

MC: I think it’s being out there in the real world, with real paying customers … installed in their premises, providing a game-changing technology. I think that’s what our investors need to see. The story is out there, people are aware of the technology. What they need to see now is that it’s in commercial premises with paying customers, so that’s what we’re very excited about undertaking in this quarter.

Disclaimer

Jag vill klargöra att detta är ett inlägg byggt på information kring det nämnda bolaget och mina egna teorier och funderingar. Allt som presenteras i detta blogginlägg ska därför ses som mina egna åsikter. Jag räknar aldrig i mina publicerade analyser eller inlägg eftersom jag tycker att var och en borde göra detta själva och bilda sig en egen uppfattning. Jag vill understryka att inlägget är samlad information och mina teorier om vad som kan komma att hända i framtiden. Jag äger själv aktier i Patriot One Technologies. Detta ska inte ses som råd. Du har själv ansvar för dina investeringar och att göra din egen analys innan du investerar. Jag får aldrig betalt för att skriva någonting på bloggen. Alla tankar och åsikter är mina egna.

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[…] One Technologies VD Martin Cronin förklarar detta pedagogiskt i två olika intervjuer den 21 augusti 2017 resp. 26 september 2017. Han förklarar också vad bolaget nu ska göra för […]

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[…] One Technologies’ CEO Martin Cronin explains this pedagogically in two separate interviews on August 21, 2017 and September 26, 2017 respectively. He also explains what the company is […]