We’re encouraged to be critical.
Waving pom-poms isn’t what the readers – or the clients – want.
But we’re human.
Occasionally we develop genuine admiration for a company; their technology, their ethics, their people – what they are achieving.
Despite our best efforts at impartiality, we cheer for Patriot One (PAT.V) like proud parents at Sports Day.
PAT’s “Cognitive Microwave Radar” detects concealed weapons from a compact piece of hardware that can be embedded in wall cavities.
The technology is “Designed for cost-effective deployment in weapon-restricted buildings and facilities. The hardware can be installed in hallways and doorways to covertly identify weapons and to alert security of an active threat entering the premises.”
How deep are we into Fan Boy Zone?
Deep enough that Google’s algorithms are constantly pushing us Patriot One Ads.
Obviously, the deeper embarrassment here is that we read The New York Post – a salacious publication that avoids criticizing China – where the owner Rupert Murdoch has invested in satellite television.
On June 27, 2018 PAT announced that Karl Wagner, a former member of CIA’s Senior Intelligence Service (SIS), has been hired as an advisor for US Government Relations and Business Development.
“Wagner will advise Patriot One on government relations and business development opportunities within the US for government and private business,” stated the press release”.
“Karl’s wide range of high-level security experience will serve as an extremely valuable asset to our growing leadership team,” stated Martin Cronin, Patriot One President & CEO.
Mr. Wagner joins a stacked leadership group.
Some investors are getting antsy waiting for the commercial roll-out of PAT’s tech.
A recent “live test” video – answers some pertinent questions.
“We’ve been working intensely across four areas,” explains Cronin in the video introduction, “Firstly, the training and optimisation of the system as we head towards commercial roll-out. Secondly our dialogue with key strategic partners. Thirdly moving into new development centers for real-world testing in more diverse environments. Fourthly our public policy efforts engaging with decision makers in public safety, around our “people/policy/platform” approach.
“Many people are desperate for news on how this testing is going,” admitted Cronin, “The analogy for detecting concealed weapons is like looking for a needle in a haystack. There is no short cut to teaching our system what hay looks like. We need to remove all that from the system and focus in on what we are really looking for – concealed weapons.”
The live technology demonstration by Jeanault Lasnier, Director of Product Implementation, starts at the 1:50 mark of the video.
“The system sees everything,” stated Lasnier, “It sees the wires in the wall, the belt buckles and even other RF signals from the cellphones, WI FI, radios. It has to remove all that noise, identify the weapons and deliver the operator the probability of a threat.”
Q2, 2018 Update Highlights
- PAT is obliged to announce material events as they occur. But PAT is “currently in the midst of negotiations and thereby constrained from offering specifics” on these negotiations. Details will be published as soon as negotiations are concluded.
- PAT is in “advanced discussions regarding key strategic partnerships”. These potential opportunities include additional threat detection technologies that could augment and enhance PAT’s solution across diverse environments.
- PAT’s management and engineering teams are focused on “developing and honing the PATSCAN CMR antennae system”. Engineers are fine-tuning the management of “background anomalies found in real-world environments.”
- PAT’s product will play a front-line defensive role in potential life and death situations. For this reason, the company believes there is a need to ensure the technology works perfectly before commercial release.
- PAT systems have been rolled out a Midwest U.S. university and another in a Southeastern U.S. school district. Testing operational functionality across diverse environments is a key precondition to product release.
On a typical day in the U.S., 7 American children are shot dead. A deadly recent high school shooting in Florida brought the gun control debate to a boil.
We have been tracking PAT for about a year and a half.
- December 20, 2016 PAT signs on Homeland Security Boss
- February 22, 2017 PAT expands its proprietary database of weapons “signatures”
- March 15, 2017 PAT signs a deal with University of North Dakota for a pilot study
- May 15, 2018 PAT goes to Washington
“Our motto is also our goal,” stated Patriot One CEO Martin Cronin in our first interview, “We aim to deter, detect and defend against random acts of senseless violence anywhere innocent people work, live, and play.”
We believe this technology is going to save children’s lives.
“Using the diamond-hard metrics of wealth-creation – that’s not a reason to own PAT stock. But as a kicker – it has value to us.”
We own it.
Full Disclosure: Patriot One used to be an Equity Guru marketing client, and we own stock.