What's in the News = $$$$ Good afternoon All,
There has been a good spate of news with KNR's core biz & BioCloud.
It provides us with the ' food for thought' when doing our ongoing DD.
Concerning the news posted earlier, here are snippets of just some of the info within the NRs to perhaps pique the interest of some to reading perhaps the news for the first time & or refresh ones memory of the KNR timely biz execution.
Things are looking up & sooner than later the patient KNR Longs are going to appreciate more & more of what has been going on behind the doors ' of opportunity '. Thanks to the news to come.
News snippets as follows:
AUGUST 27, 2021 - substantial progress with the expansion of our innovative BioCloud technology continues to materialize in both the public and private sector." HDIAC (Homeland Defense & Security Information Analysis Center) - Kontrol responded to an enquiry for BioCloud from the HDIAC. Kontrol operates its building service platform at approximately 60% gross margin. Kontrol is pleased that it established its first recurring service customer with the assistance of Global in a short period of time and is quoting many other opportunities with Global. Service agreements can range from $125,000 to $150,000 per annum and span multi-years for Global's customer base. Kontrol BioCloud recently completed 8 months of independent lab testing and its research is being shared with various levels of Government and key distribution partners under NDA Health Canada - BioCloud testing at a Health Canada Level 4 lab, at the request of various Government organizations, is ongoing. BioCloud is not a medical device, it does not require Health Canada or FDA approvals. with Steelcase Inc. ("Steelcase"), the Company is preparing new videos and joint marketing materials for Steelcase's impressive distribution network AUGUST 18, 2021 - Marshall Communications, a US based firm specializing in supplying technology and services to the US Government, and Kontrol are working together to introduce the BioCloud solution to various levels of Government in the USA. Marshall Communications has been responding to direct enquiries from various organizations. MCC specializes in satellite communications products and services as well as sales of IT and IT related products and services to all agencies of the U.S. Federal Government. AUGUST 16, 2021 - Starting in early September, organizations across the U.S. and Canada can access Kontrol BioCloud through Steelcase's dealer network, the largest and most reliable dealer network in the industry. Through the exclusive partnership, Steelcase's dealer network will be the only major contract furniture dealer network to offer BioCloud in North America. over 800 Steelcase dealer locations. Steelcase is a global, industry-leading, and publicly traded company with fiscal year 2021 revenue of $2.6 billion. For more information, visit www.steelcase.com
AUGUST 3, 2021 -
the acquisition of Global has the potential to drive significant growth and scale for Kontrol over the long term. With a consolidated revenue order book of $155 million, we are well poised for our next stage of growth." Corporate Outlook
Kontrol anticipates full year revenue for 2021 will be in the $38 million range up from $13million in 2020 and anticipated 2021 Adjusted EBITDA* of $3.7 Million.
For 2022 Kontrol anticipates revenues in the range of $65 to $70 million and Adjusted EBITDA* in the range of $4.5 to $4.8 million
Acquisition Synergies
Global has traditionally focused on larger projects, with one-time project revenues. A small percentage of its overall business is in recurring service and asset maintenance. Global will operate as a subsidiary of Kontrol with its current management team in place. Kontrol will seek to grow Global's recurring revenues through vertical integration with its current software and ongoing service agreements.
Cost Reductions
Kontrol will work diligently to reduce costs by reducing duplication of staff and focusing on in house project capabilities to drive full vertical integration across its customer base.
Kontrol BioCloud
BioCloud can be integrated into each HVAC installation delivered by Global to provide real-time monitoring for virus and pathogens.
JULY 14, 2021 - Ontario Together Fund
Following the initial receipt of $1.2 Million from the Ontario Together Fund in February of 2021, Kontrol, through its operating subsidiary CEM Specialties Inc., has completed the required conditions precedent and has received the final balance of $800K.
Additional Innovation for Air Quality and Safer Spaces
Based on the current BioCloud technology which provides for early detection of Covid-19 and other viral pathogens, Kontrol has integrated new sensor capabilities to measure overall air and environmental quality. These include sensors for volatile organic compounds, particulate matter, humidity, C02, air velocity, differential pressure and more. Customers who want to ensure that all aspects of air quality in their environments are safe, can now rely on Kontrol BioCloud for turn-key access to a complete suite of real-time monitoring, detection, measurement, data and analytics.
MAY 31, 2021 - delivered two BioCloud units to Health Canada for testing and has added a Middle East distribution partner with regional exclusivity. Testing with Health Canada
The two BioCloud units were delivered in May 2021 to Health Canada's National Microbiology Level 4 laboratory. The testing is carried out at the request of several interested government agencies and at no cost to Kontrol. The testing is anticipated to include efficiencies and detection of SARs-COV-2 and its variants under various control conditions. Testing has commenced with results anticipated in July 2021.
Upon receipt of final testing and results the Company will announce and publish those results on its website, subject to any regulatory approval which may be required.
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Late on the HC news, but it's coming.
Best wishes to All & should be quite the week coming up on the news front if I was a betting person.
Sincerely,
Topseeker