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Xtract One Technologies Inc. T.XTRA

Alternate Symbol(s):  T.XTRA.WT | XTRAF

Xtract One Technologies Inc. is a technology-driven threat detection and security solution company leveraging artificial intelligence (AI) to provide secure patron access control experiences. The Company is engaged in the development and commercialization of an integrated, layered, AI-powered threat detection gateway solution. It operates in two segments: Platform and Xtract segment. The Platform segment develops and commercializes an AI-powered threat detection gateway solution. The Xtract segment develops AI solutions for customers. Xtract One’s Gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based Video Recognition Software allows venue and building operators to identify weapons and other threats inside and outside of facilities and receive valuable intelligence for optimizing operations. It serves various industries, including arenas and stadiums, ticket venues and attractions, and casinos.


TSX:XTRA - Post by User

Post by Xwing229on Oct 09, 2017 9:05am
190 Views
Post# 26791602

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https://www.menafn.com/1095931040/about.html

Patriot One Technologies Inc.(OTCQB:PTOTF) isalso listed on the TSX Venture Exchange under the ticker symbol "PAT". Just earlier today the company announced breaking news that it, "is extremely pleased to announce that its award-winning PATSCAN CMR™ (Cognitive Microwave Radar) concealed weapons detection system has achieved Federal Communications Commission (FCC) Declaration of Conformity certification, a copy of which can be found here:. 

"This is a momentous occasion for us," states Patriot One Technologies CTODinesh Kandanchatha. "We now hold both FCC and Industry Canada (IC) certification allowing us to move into commercial roll-out acrossNorth America, with other countries soon to follow. The next stage of this exciting journey now begins with select deployments with key early adopters. Our system, which relies on machine learning algorithms, has graduated from the lab and is about to enter the arena of commercial distribution. Our strategy involves deployment through the remainder of the year to meet our backlog of commitments, and to immerse our engineering teams into an in-depth analysis of real-world threat scenarios in order to ensure that Patriot One offers the leading world-class solution for global threat detection. 

"This is an important milestone for the Patriot One team for which they should be proud," said GovernorTom Ridge, first U.S. Secretary of Homeland Security and a member of the Patriot One Advisory Board. "I very much look forward to seeing the rollout of this game-changing technology acrossthe United Statesand to supporting their efforts to improve public safety." 

"We have used the waiting period for regulatory approval to assemble a team capable of meeting the go-to market challenges ahead." Kandanchatha continues, "I anticipate a phased rollout, and like any new technology we will advance carefully and deliberately, recognizing progress will come quickly as we learn from each installation. We have worked hard to ensure that our system would pass this rigorous hurdle and to have achieved it in less than a year is a testament to our team of dedicated engineers, researchers and support staff who have put in the huge effort to achieve today's news." 

PATSCAN CMR sales efforts currently focus on markets encompassing houses of worship, academic institutions, event centres, casinos, commercial offices, hotel properties, government agencies and other locations at high risk of terrorist attack or random violence. Interest and orders have been received from around the globe and today's announcement will trigger a number of sales, marketing and support initiatives in major markets including theUnited Kingdom, Eurozone andAsia-Pacificregions. 

"This is wonderful news for our company, our stakeholders and shareholders alike" states Company CEOMartin Cronin. "We well understand that there are hurdles with any new technology, especially when it is revolutionary. We are also very clear regarding the role that the investment community has played in getting us to where we are today and we will redouble our commitment as we move ahead to build shareholder value and to earn capital market support. Today we celebrate meeting a significant building block in our strategy for public safety through threat detection and our ongoing mission to make the world a safer place…"

 
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