Kontrol Technologies Corp Stock Price, News & Analysis

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) announced its financial results for the nine months ending September 30, 2020. Despite the impact of COVID-19, Q3 2020 revenue rose by 32% over Q2 2020 to $3.01 million, though down from $3.27 million in Q3 2019. Adjusted EBITDA for Q3 was $848,249 compared to $206,435 in the same quarter last year. Net loss reduced to $193,541 from $692,175. The company's cash position improved to approximately $3.8 million as of the press release date, bolstered by exercises of options and warrants.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) announced the filing of four patent applications for its BioCloud Technology, aimed at detecting airborne pathogens. Three applications were submitted to the U.S. Patent and Trademark Office and one to the Canadian Intellectual Property Office. The BioCloud technology utilizes continuous air quality monitoring and a detection chamber to enhance air safety in shared spaces. CEO Paul Ghezzi emphasized the company's commitment to innovation. However, the technology is not a medical device and does not claim to eliminate COVID-19.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) will announce its financial results for the nine months ending September 30, 2020, on November 30, 2020. A conference call to discuss the results is set for 4:30 PM EST on the same day, expected to last 45 minutes. Interested parties can access the call via a webcast link provided in the release. The full financial statements will be available on SEDAR thereafter. Kontrol is a leader in IoT and Cloud solutions for energy efficiency in smart buildings and cities.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) has provided an update on its BioCloud technology, which is designed to detect airborne viruses. The company has entered into two non-exclusive distribution agreements for Ontario and Saskatchewan and is pursuing exclusive agreements. Kontrol has launched a new website for BioCloud and is planning a name change to Kontrol Technologies Inc. by year-end. As of November 17, 2020, Kontrol has $3.8 million in cash on hand, supporting its ongoing development efforts.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) received UL standards approval for its BioCloud technology, enhancing its market readiness in Canada, the U.S., and globally. Previously, the company secured CSA approval and is working towards CE certification for Europe. BioCloud is designed to detect airborne viruses, providing safety solutions for various gathering spaces. Despite the progress, the company clarifies that BioCloud is not a medical device and does not claim to combat COVID-19 directly.

Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF) has secured approval from 67.06% of debenture holders to extend the maturity of the "8% Unsecured Redeemable Debentures Due October 31, 2020" to December 15, 2020. This decision coincides with a non-brokered private placement, generating $5,800,000 in gross proceeds. The new debentures, maturing October 31, 2022, will continue to accrue interest at 8% annually. Kontrol Energy focuses on energy efficiency solutions through technology, aiming to lower energy costs and GHG emissions.

Kontrol Energy Corp. provides an update on its BioCloud technology, achieving a lower detection limit of 50 SARS-CoV-2 virus particles, crucial for commercialization. The company plans to produce BioCloud units in November and seeks certifications (CSA, CE, UL) for market compliance. As of October 28, 2020, Kontrol has approximately $3 million in cash to support this initiative. The BioCloud technology aims to enhance safety in public spaces by detecting airborne viruses.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) has been ranked 81st in the Globe and Mail's Top Growing Companies list for 2020. The company secured a new order for its SmartSuite technology across four apartment buildings in Ontario, enhancing energy management. Additionally, Kontrol has initiated a name change to Kontrol Technologies Inc. to better represent its focus on smart technology solutions. The company also received funding for its BioCloud analyzer, a real-time virus detection system, aimed at improving safety in various environments.

Kontrol Energy Corp. (OTCQB:KNRLF) has advanced to the commercialization phase of its BioCloud analyzer following successful pre-commercialization testing. The company anticipates launching BioCloud, designed for detecting airborne viruses in populated spaces, by November 2020. Kontrol is engaging with government entities for funding and establishing a supply chain capable of producing up to 20,000 units monthly. With a strengthened balance sheet from $1 Million in cash raised through share options, the company is positioned for growth in the health technology market.