KONTROL TECHNOLOGIES CORP - KNRLF STOCK NEWS

Kontrol Technologies Corp. (CSE:KNR / OTCQB:KNRLF) has engaged Digital Offering, LLC as its financial advisor to explore U.S. Capital Markets and aim for a potential NASDAQ listing. CEO Paul Ghezzi emphasized the importance of increasing visibility in the U.S. market. Digital Offering will receive an initial fee of US $25,000 and a success fee of US $175,000 upon a successful listing, along with 400,000 consultant warrants. Kontrol is focused on enhancing its institutional shareholder base and long-term value.

Kontrol Technologies Corp. has announced a $2 million investment from the Ontario government through the Ontario Together Fund to accelerate the production of its innovative COVID-19 detection technology, BioCloud. This funding will enable CEM Specialties Inc., a subsidiary of Kontrol, to increase production capacity to 20,000 units per month, creating up to 250 direct and 750 indirect jobs. BioCloud will provide real-time monitoring of SARS-CoV-2 in the air and is designed for various public spaces. The investment is contingent on achieving specific production milestones by March 30, 2021.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) is set to ship its BioCloud unit to the UAE for a three-week field demonstration starting December 13, 2020. CEO Paul Ghezzi noted significant regional interest in the viral detection technology. The BioCloud unit will now support modbus and bacnet protocols for integration with HVAC systems, enhancing its applicability in smart building environments. This upgrade applies to all future units as well. BioCloud operates as a real-time air quality analyzer, although it does not claim to eliminate or cure COVID-19.

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) has signed an exclusive Distribution Agreement with United Safety and Survivability Corporation to distribute its BioCloud technology in North America, Australia, and New Zealand. The agreement spans a 12-month exclusivity period, with a mutual six-month renewal option, covering various transportation sectors including buses and ambulances. The arrangement targets production of 5,000 units annually. However, pricing details remain undisclosed for competitive reasons. The BioCloud technology aims to enhance air quality and safety in public spaces impacted by COVID-19.

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.