Patriot One Technologies Quarterly Update

Patriot One Technologies Inc (TSXV:PAT), a developer of a revolutionary concealed weapons detection system provided the following update.

As quoted in the press release:

“As you know, we have been working aggressively to complete and commercially introduce Patriot One’s PATSCAN CMR microwave radar technology, coupled with machine learning capabilities (i.e. cognitive microwave radar) to serve public security market needs. Our vision is aimed at saving lives that could otherwise be tragically lost due to terrorist and active shooter events – a mission we take very seriously. We know each of you, our valued investors and partners, take this responsibility seriously, as well. So, I am confident I speak for all of us in that we are determined to bring forward advanced systems known for consistent and effective performance, and which will surpass solutions currently seen in today’s marketplace,” said Martin Cronin, CEO and president of Patriot One.

Business Announcements
Our team has been working intensely throughout this past quarter. As a public company, we are obliged to announce material events as they occur, and it further makes prudent business sense to provide accurate and complete updates as business activities advance. To that end, we expect to soon provide additional information regarding new commercial activities. While we are currently in the midst of negotiations and thereby constrained from offering specifics, we are pleased to provide insights into three key areas of focus: Key Partnerships, PATSCAN CMR progress and testing expansion, and Public Policy efforts.

Key Partnership Announcements 
The Company is in advanced discussions regarding key strategic partnerships, and consulting with leaders in the threat detection space. As a matter of business practicality, and as a publicly traded company, we remind the reader that many of our conversations are with other private and public entities, and because of mutual non-disclosure agreements, we cannot make formal public announcements until agreements and contracts are secured. It is a fact that several of these ongoing conversations could positively impact our efforts in three specific threat detection arenas: product integration, development and implementation. Furthermore, these potential opportunities include additional threat detection technologies that could augment and enhance our solution across diverse environments.

PATSCAN CMR Development Progress
Among our many efforts, the management and engineering teams are focused on developing and honing the PATSCAN CMR antennae system. During the past 3 months (February-April 2018), our engineers invested significant time and effort fine tuning and managing minute background anomalies found in real-world environments that were not readily identifiable in previous laboratory studies. Our PATSCAN CMR hardware team, led by radar expert Dr. Paul Rice, has instituted an antenna update program, which includes additional testing at our Las Vegas development center.

We are justifiably pleased that our work with the Westgate Las Vegas Casino & Resort has provided in-depth and practical field study results at this key juncture. We have saved significant capital and amassed strategically important data that we would not have otherwise collected as quickly. Given that our product, when released commercially, will play a front-line defensive role in potential life and death situations, there is a fundamental need to ensure the technology works effectively. There is no “second best” or excuse for releasing a product until we are satisfied with its performance. It is also important to bear in mind that the PATSCAN system brings together multiple technologies, some of which have never before been configured for this type of application. While we had hoped to have the product development farther along by now, we are pleased with the advances made to-date and strongly believe our ongoing updates will deliver the performance characteristics required for the system’s intended commercial application. We have assembled an extraordinary team – from research and development to sales and marketing – that is at the top of its game and motivated to defeat the scourge of random shootings and their impact on our global society.

PATSCAN CMR Development Center Expansion
As stated in earlier announcements over the quarter, our management and engineers have begun preparations to roll out two additional development centers – one at a major Midwest U.S. university and another in a Southeastern U.S. school district. We expect that working in these additional real-world environments, including applying recent advances in our antenna design, will further propel our hardware and software development and move our PATSCAN CMR solution further towards commercialization. Achieving high-quality operational functionality across diverse environments is a key precondition to product release, and we are grateful to work with a growing number of partners who believe in our quest.

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