Kontrol Technologies Corp Stock Price, News & Analysis

Kontrol Technologies Corp. (OTCQB: KNRLF) has successfully closed a private placement, raising approximately Cdn $8.5 million. The company issued 5,666,332 units at a price of $1.50 each, with each unit comprising one common share and one-half common share purchase warrant, exercisable at $1.75 until June 1, 2024. The funds will be used for capital expenditures, working capital, and general corporate purposes. A.G.P./Alliance Global Partners acted as the exclusive placement agent in the U.S.

Kontrol Technologies Corp. (OTCQB: KNRLF) announced a partnership with a leading commercial real estate manager to deliver real-time viral detection insights using its BioCloud technology. This initiative aims to facilitate safer environments as economies reopen post-pandemic. The Company will provide multiple BioCloud units over a two-week period, allowing the Commercial Manager to assess the technology's value. Following this, a purchase or lease option will be available. BioCloud, designed for various shared spaces, aims to improve air quality monitoring and safety.

Kontrol Technologies Corp. (KNRLF) reported strong Q1 2021 results with revenues of $3.3 million, reflecting a 20% increase year-over-year. Adjusted EBITDA rose to $1.1 million from $241,343 in Q1 2020. Cash flow from operations stood at $592,153, an improvement of $610,964 year-over-year. The company has invested approximately $4 million in its BioCloud technology development and has successfully converted $631,000 of convertible debentures to shares. Despite encountering project delays due to COVID-19, management maintains revenue and EBITDA targets.

Kontrol Technologies Corp. (OTCQB: KNRLF) announces the delivery of two BioCloud units to Health Canada for testing, which will assess the efficiency in detecting SARS-CoV-2 and its variants. Testing began in May 2021, with results expected by July 2021. Additionally, Kontrol has entered an exclusive distribution agreement with Royal Health Group in the UAE, following a successful pilot program. This partnership aims to expand BioCloud’s reach as a vital technology for detecting airborne viruses.

Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) is set to report its Q1 2021 financial results on May 31, 2021, covering the period ended March 31, 2021. The comprehensive financial statements and Management's Discussion & Analysis will also be filed on SEDAR on the same day. A conference call to discuss these results is scheduled for May 31 at 4:30 PM EST, hosted by CEO Paul Ghezzi and CFO Claudio Del Vasto. Kontrol is recognized for its innovations in smart buildings and cities utilizing IoT, Cloud, and SaaS technology.

Kontrol Technologies Corp. (OTCQB:KNRLF) announced the successful conclusion of its pilot for the BioCloud technology in the Middle East, achieving real-time COVID-19 detection. Conducted with a prominent healthcare testing partner, the pilot validated BioCloud's capability to detect the virus accurately. The company has entered negotiations for regional distribution exclusivity with the partner, who serves both industry and government clients. Kontrol has received $1.2 million from the Ontario Together Fund, with an additional $800,000 expected upon the completion of their submission.

Kontrol Technologies Corp. (OTCQB: KNRLF) reports progress on its BioCloud technology, designed for real-time viral detection. Successful pilots were completed with Rowing Canada and in the Middle East, validating data collection methods against independent PCR testing. A new distribution partner was secured in India, and the company is launching a pilot in a Canadian hospital in Q2 2021. Additionally, Kontrol is seeking U.S. lease financing for BioCloud sales and offers flexible payment options for customers. Recent advancements have improved detection capabilities significantly.

Kontrol Technologies Corp. has filed a preliminary base shelf prospectus with regulators in British Columbia, Alberta, and Ontario. This prospectus allows the company to offer up to $15 million in common shares, warrants, subscription receipts, debt securities, and other units over a 25-month period. Proceeds from these offerings will be allocated as detailed in the respective prospectus supplement. Kontrol Technologies, a leader in smart building solutions through IoT, Cloud, and SaaS technology, aims to improve energy management and air quality.

Kontrol Technologies Corp. has appointed Joe Gallo as its new Chief Revenue Officer, effective immediately. Gallo brings over 14 years of experience in the smart building technology sector, having previously served as Vice-President at Reliance Home Comfort Ltd. He aims to drive U.S. market expansion and enhance Kontrol's sales strategies and growth initiatives. CEO Paul Ghezzi expressed confidence in Gallo's ability to foster synergies across Kontrol’s platform and leverage new market opportunities.