Patriot One (PAT.T) today locked down an intellectual property license with Quasar Federal Systems (QFS), the fourth component of their PATSCAN TMS intelligent magnetic sensor technology.
The world is a dangerous place, and Patriot One wants to make it safer for everyone. Their PATSCAN technology is one step towards accomplishing that.
This is the age of school shootings. In 2018 there were 24 school shootings in the United States and 15 school shootings so far in 2019, and we can’t turn on the television nowadays without hearing about another gun-related tragedy.
PATSCAN weapons detection systems offer an unobtrusive, layered, multi-sensor method to threat detection. Our tactical approach hardens building approach, entry and interior facility security without creating a fortress-like environment for the general public.
The Quasar Group, which also includes GroundMetrics Inc. and Electronic Biosciences Inc., use high-performing sensing technology and purpose-designed data processing to address electromagnetic sensing applications.
But these aren’t just undergrad dorm rats playing with magnets, these are the true pointy-headed scientist types, working on making the world a better place—using magnets.
Their contribution to the PATSCAN system may just help with that.
The PATSCAN TMS sensors are sensitive enough to detect weapons like knives, long-barreled weapons and bombs either concealed on the body or in a bag. The technology recognizes potential threats, projecting the position of the threat onto an image using artificial intelligence, aided by evolving fully-upgradeable algorithms.
Metal detectors are obvious and obtrusive. They’re visible, and they inspire fear in the general, law-abiding population, and devious creativity in those who aren’t. They can be avoided. PATSCAN TMS’s passive sensor array can be installed anonymously in a hidden compartment in a wall and used to detect the presence of weapons in otherwise unwitting potential assailants.
They would never see it coming.
Consider for a second that any future rampages like the one at Columbine or Sandy Hook can now be protected using this technology, and its value becomes apparent.
The terms of the agreement have Patriot One paying QFS $5 million for a perpetual, worldwide license to Quasar’s IP for the right to use, modify, manufacture, develop and sell their covert threat detection technology.
The license gives Patriot One access to QFS’s patented sensor technology and patent-pending magnetic detection and security screening technology, and also the right to consult with Quasar’s development team for any future modifications to the technology.
Forward Momentum
Patriot One graduated to the big boards back in April, and since then they’ve been on a bit of a slump.
It’s not for any lack of good news. They’ve onboarded another client in West Virginia-based Cramer Security & Investigations, which will distribute their PATSCAN system to their own clients. They’ve also started a concerted push towards international expansion, fulfilling new international contracts valued in the millions.
“There’s a lot of momentum building following our recent announcements with Cramer Security and several international resellers, and our business development team has been delivering PATSCAN Platform demonstrations to secure additional purchase orders with our existing and new resellers and their end-user clients in sectors that include business, retail, sports, events, hospitality, education and religion,” said Martin Cronin, CEO of Patriot One.
Watchlist!
—Joseph Morton
Full Disclosure: Patriot One is an equity.guru marketing client.
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