Raytheon partnership proves Patriot One is not ready to go To market and finally commercialize it's product. Patriot One received $3 million canadian dollars in non-dilutive funding to invest in research and development of it's original Patscan CMR. What is alarming is that not only do they ("the company") seem to be over relying on the success of the device, they also require additional funding to develop it with the expectation it should already be ready to install without problems given that it received FCC approval in October 2017.
Obviously Patriot One has potential, and Raytheon sees it as well, however, they also know that Patriot One has spent over $23 million canadian dollars, (adding $3 million in funding from previous $20 million) and has failed to enter commercialization stage and become profitable. Raytheon has now confirmed that at this stage "the company" is at, Patscan CMR is an innovative idea, not a fit for sale product.
Given that we are approaching three years since it's inception, a reasonable amount of time to go to market, if "the company" continues to play games and tell stories in the following months of 2019, then in my opinion things will not look too good for the stock price in the future, i.e. the bears takeover and we transition from the current uptrend, into a downtrend, as the bulls sell and their patience gradually goes away.
Have a good weekend all!