Mystery of Smith Detection (Smith Group PLC)
I've been watching and digging into PAT for sometime now. I'm not an investor yet, but it's on my shortlist. The price action is a little curious so I'm still on the sidelines. I'm not looking to pin the bottom, I just want to go long it seems right. I'm not much a technical analyst when it comes to micro-caps as they can be a strange breed so I'm more gun shy than usual when compared to large caps.
So my question is this............can someone explain to me what, if anything, is going on with Smith Detection (of Smith Group PLC) and this technology or with Patriot One?
The scientist behind PAT had signed a partnership agreement with Smith Detection back before Patriot One was on the scene. I haven't been able to figure out what happened with that partnership? Obviously, the terms of the partnership were never disclosed to the public. It's so odd that Smith Group would see enough promise in CMR technology but then just dissappear of the radar screen? I thought I read some months back that someone from Smith Group was appointed to a director position with PAT but nothing on the website confirms this so now I'm thinking I'm just getting old and my memory is playing tricks on me.
I bring up Smith Group because the recent MD&As for PAT highlight as one of their business risks as being a low barrier to entry market with this technology and that some of their competitive advantage lies within trade secrets. Unlike utility patents, trade secrets are only as good as the eyes and lips that surround them. So if Smith Group was a partner during the development phase, wouldn't they have indepth knowledge on the inner workings of the CMR-1 system??
Smith Group PLC is massive and I'm just worried they are developing their own system behind the scenes and closely watching how the CMR-1 field tests go so they can develop answers to problems encountered by their competitor (Patriot One) all the while avoiding the bad publicity sometimes resulting from the field testing process.
If I can get a satisfactory answer to settle my suspicions I'll go long on this stock. I'm hoping someone on this bullboard (any PAT insiders reading this??) can fill in the blanks for me.
cheers to all