Xtract One Technologies Inc. - XTRAF stock
| OTC Tier: OTCQX International | Related ticker symbols: TSX: XTRA
Description[edit]
Xtract One Technologies Inc. (TSX: XTRA, OTC: XTRAF) is involved in global research, development, and the commercialization of solutions for threat detection. The company operates under two segments: Patriot and Xtract. The Patriot segment is focused on creating and bringing to market threat detection technologies powered by artificial intelligence (AI). Meanwhile, the Xtract segment concentrates on developing and commercializing AI-based solutions.[1]
History[edit]
Patriot One Technologies Inc. was founded in October 2016 with research partner McMaster University. The Company’s initial goal was to commercialize research by Dr. Nikolova’s by creating a single threat detection product (PATSCAN RADAR sensor solution) which is a system to detect concealed guns and knives. The system utilizes microwave radar technology along with custom machine learning and artificial intelligence software.[2]
The company was formerly known as Clear Mountain Resources Corp. and adopted the name Patriot One Technologies Inc. [1] In December, 2022, the company changed its name to Xtract One Technologies Inc. The name change was made to "the Company’s people-first ethos, applying the power of proprietary AI in the development of integrated security solutions to deliver exceptional patron experiences, safer environments, and informed operational insights while addressing the complex needs of customers and stakeholder communities."[3]
Products[edit]
Patriot One offers a variety of products related to access control in parking lots, building interiors and other places where people gather.[4] The product lineup includes PATSCAN VRS Video Recognition Software, which utilizes digital cameras and AI to automatically identify visible weapon threats, altercations, and health and safety issues. Additionally, they offer PATSCAN Multi-Sensor Gateway, an autonomous detection system designed to spot concealed firearms, knives, or other potential threats on individuals entering secure public or private spaces. This system is suitable for deployment in locations such as schools, stadiums, concert halls, shopping centers, and entryways to various buildings. Patriot One Technologies also develops PATSCAN Cognitive Microwave Radar (CMR), a system that leverages microwave radar technology combined with specialized machine learning and AI software to detect concealed firearms and knives.[1]
Funding[edit]
- Feb 13, 2023 - Raised CA$8,400,000 / Post Ipo Equity from Madison Square Garden Sports Corp.[5]
- In March 2022, Patriot One Technologies announced a $10 million public offering with Echelon Wealth Partners Inc.[6]
- Mar 10, 2022 - Raised $10,000,000 / Post Ipo Equity from Echelon Wealth Partners[5]
- Jun 5, 2020 - Raised an undisclosed amount / Post Ipo Equity from Digital Technology Supercluster[5]
- Jan 1, 2017 - Raised an undisclosed amount / Post Ipo Equity from Bullrun Capital Inc[5]
- Dec 18, 2013 - Raised $785,860 / Post Ipo Equity[5]
Acquisitions[edit]
EhEye[edit]
In November 2018, Patriot One acquired EhEye for an undisclosed amount.[5]
Xtract AI[edit]
In September 2019, Patriot One acquired Xtract AI for $6,000,000.
Funding[edit]
In January 2017, PTOTF raised funds from Bullrun Capital Inc.
- ↑ 1.0 1.1 1.2 MarketBeat. Stocks - OTCMARKETS - PTOTF. Retrieved on 12/4/2023.
- ↑ xtractone.com. Company. Retrieved on 12/4/2023.
- ↑ GlobeNewswire. Xtract One Completes Name Change from Patriot One Technologies. December 1, 2022.
- ↑ extractone.com. Products. Retrieved on 12/4/2023.
- ↑ 5.0 5.1 5.2 5.3 5.4 5.5 crunchbase. Patriot One Technologies News and Timelines. Retrieved on 12/4/2023.
- ↑ Seeking Alpha. Patriot One to raise $10M in stock offering. March 10, 2022.
