Tech Stock to Watch: Patriot One Technologies and the PATSCAN

Tech Stock

Patriot One Technologies Inc. (TSXV:PAT) is among the top trading stocks on the TSXV today. As of the middle of the trading day, there has been over $3.6 million CAD traded into the tech stock. Today, we’ll take a closer look at why the stock has made our tech stock to watch list.

PATSCAN Expansion and Development

Patriot One Technologies is headquartered in Vancouver, British Columbia. In 2018, the tech stock made strong developments with its PATSCAN CMR. The PATSCAN is a cognitive microwave radar concealed weapons detection system. This system is aimed at stopping active shooter threats before they occur. The PATSCAN is geared to be used at both private and public entrance points in buildings to detect concealed weapons and will alert authorities immediately.

This past year, Patriot One received its first US trial sale. Smart CT Solutions bought the first set of Patriot’s PATSCAN machines to test. Smart CT is based out of Florida.

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In addition to this trial-sale, the tech stock pre-qualified for a $1 million CAD grant by the Canadian Government. The grant came from the Canadian federal government’s Build in Canada Innovation Program. Patriot One Technologies will test the PATSCAN with the Canadian Department of National Defense with the grant money.

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“We are excited to pre-qualify for up to $1 million (CAD) for the Military Component of the Build in Canada Innovation Program,” said Martin Cronin, CEO and President of Patriot One Technologies.

He continued:

“The ability to test our PATSCAN CMR and some of our other threat detection solutions in a real-life setting with an arm of the Department of Defense is exciting for our entire team.”

For this reason, Patriot One Technologies has made our tech stock to watch list.

PAT Stock Movement

According to Yahoo Finance, PAT is currently trading at $1.91 a share, up +$0.11 (+6.11%).

Featured Image: Depositphotos/bloomua