Tailwinds....Patriot One Update Call with CEO Martin Cronin By Daniel Carlson - January 17, 2019 I managed to catch up on the phone with Martin Cronin today. Which was good as I had many urgent issues to discuss with him. I mean, it had been well over a month since we last spoke and during that time much had happened. Think about it for a minute. During the last couple weeks I had learned quite a lot about the Company that had never been revealed before. I needed answers to these new questions. For example, Ive been hearing that PATSCAN has been removed from Westgate. Ive been told that the antenna design has failed. And, Ive even learned that the whole Company is a scam. Bottom line: things were disintegrating rapidly at Patriot One and I needed answers! Thankfully, Martin talked me down from the edge. It turns out that (possibly) over-zealous shareholders are behind these rumors. Westgate is definitively not pulling the system, the antenna actually works just fine, and the Company is legit. Phew!!! Having settled the fake news, Martin and I proceeded to have a nice update call. Most of what we discussed was covered in last weeks NFORCED newsletter. If you havent read it, I suggest you do so; heres the link. The Company continues to make headway in getting their product to market. Pre-paid pilots are being installed in multiple locations during this quarter. These installations are combinations of both the CMR and VRS, which means they have integrated the EhEye acquisition very rapidly. Thus, the Company remains on track for a second quarter rollout of their product. Martin was quick to make sure I understood that the rollout was only happening in regions where it is approved, such as the U.S. So, until all jurisdictions have regulatory approval, its not a complete global rollout. To which I say, Who Cares? Its happening in Q2, baby! I, for one, am excited to see the rollout finally happening. Its been years in the making, kudos to the patient investors who stuck around. Kudos also for all their hard work to the management and founders of Patriot One. Make no mistake, this has been a long slog for them. Probably a lot longer than anyone ever thought it would be. In many ways, running this Company in particular has got to be one of the toughest CEO jobs ever. Im 100% convinced I wouldnt want the role. Yet, Martin has done a fabulous job. Sure, its taken longer than expected. It has also gotten much bigger than originally planned. When I first got involved with PAT, it was a one trick pony. The CMR was all that existed and getting it to market was the sole priority. Admittedly, as with every novel technology, there were unseen challenges that cropped up along the road. Simultaneously, the road changed direction. Instead of just selling the CMR, Patriot One is turning into a security platform. They are integrating multiple products and testing others that will likely be added to the mix. Think that will slow things down? Investors seem to be all over the Company for delays, dilution, etc. Martins words are pored over and outrage seems to be the word of the day in chat rooms. Its his job to manage thiswhile also managing partnerships like Cisco and IBM. Think about that for a second. Martin goes from negotiating a deal with Cisco, installing PATSCAN in IBMs Montreal innovation center, to worrying about how best to handle rumors of his Companys failures. Ugh. For my investors, the people whose money I manage, I am clear; this space is Public Venture Capital. The companies are early stage. They have great ideas, but a lot of execution lies in front of them before achieving success. I also say that the key to investing in this field is backing the right management teams. The people who can build an organization, take a product from napkin to installations, and sit down at the table with the big boys and belong there. Im very pleased with the team at Patriot One and the progress they have made. Could it have been done quicker? I am not sure. But, quickness is not the most important thing. When your end market is security, you cant afford to go to market before youre ready. Therefore, having a rational, methodical process of development and real world rollout is much more important than haste to market. PAT has done this for sure. The highlight of my call was nothing Martin said, but how he said everything. He is clear, rational, and poised. More importantly, he is very confident and this comes through. Patriot One is on the cusp of changing building and perimeter security in the world. They have strong partners and are going to market in a few short weeks. Martin is highly confident this is coming togetherand so am I.