Cannabis and mining stocks have taken over the TSXV in 2018. However, as of late, there has been a tech penny stock that has dominated the market. Today, we’ll take a closer look at that penny stock and the company’s latest announcements.
Tech Penny Stock to Watch in 2019: Patriot One Technologies (TSXV:PAT)
Patriot One Technologies is a technology company that is headquartered in Vancouver, BC. Its main technology is a commercialized weapons detection radar system called PATSCAN CMR. The reason this company made our tech penny stock to watch list for the year 2019 comes from its latest company deals.
Last week, Patriot One announced that it pre-qualified for up to $1 million CAD by the Canadian Government’s ‘Build in Canada Innovation Program.’ This funding will go towards the company’s testing by the Department of National Defense. The PATSCAN is used as the first line of defense against those concealing weapons, and it can alert authorities to potentially stop mass shootings and other catastrophic weapon attacks.
In addition to the Canadian government taking notice of the device, the Canadian tech penny stock just received its first major US order. This marks a huge moment for the tech company, as the US is a much larger market. Patriot One received a $287 thousand USD order from Smart CT Solutions LLC of Miami, Florida.
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“We’re eager to support our only Florida authorized reseller Smart CT Solutions with these paid trial deployments of our PATSCAN technologies with their clients,” said Martin Cronin, CEO and President of Patriot One Technologies. “Over the past year, our engineering and business development teams have been working closely with Roberto Gonzalez and Smart CT Solutions to introduce our threat detection solutions to their clients. Today, we are excited to begin installing these solutions with the shared goal of detecting threats before they become tragedies.”
If the tech penny stock can inch its way into the US, it could mean big things for the company.
Tech Penny Stock Movement
Despite the monumental company movement, PAT is currently trading in the red of the TSXV. According to Yahoo Finance, the tech penny stock is trading at $2.00 a share, down -$0.09 (-4.31%).
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