KONTROL TECHNOLOGIES CORP - KNRLF STOCK NEWS

Kontrol Technologies Corp. (OTCQB:KNRLF) announced a new Emission Analyzer order from a global cement company through its subsidiary CEM Specialties. This new order marks a significant growth opportunity in the U.S. cement market. The Analyzer will provide real-time emissions analysis and include annual maintenance. Delivery and installation are expected in Q4 2022 and Q1 2023. The company is currently addressing compliance issues with financial covenants as of September 30, 2022, and is seeking a waiver from its financial institution.

Kontrol Technologies Corp. (OTCQB:KNRLF) provided an update regarding a breach of financial covenants as of September 30, 2022. The company is in discussions with its lender to seek a waiver for these covenants. CEO Paul Ghezzi emphasized the company's focus on energy savings and sustainability solutions amid these challenges. Kontrol Technologies is recognized for its leading role in smart buildings and cities, leveraging IoT, Cloud, and SaaS technologies.

Kontrol Technologies (NEO:KNR, OTCQB:KNRLF) reported its financial results for the third quarter and year-to-date period ending September 30, 2022. Revenues fell to $19.9 million, a 7.5% decrease year-over-year, while nine-month revenues grew to $75.6 million, a 161% increase.

Despite the growth in annual figures, the company experienced a net loss of $(5.2 million) for the quarter compared to a net income of $2.1 million the previous year. Adjusted EBITDA also declined significantly.

Kontrol Technologies Corp. (OTCQB:KNRLF) will report its financial results for the nine-month period ending September 30, 2022, on November 14, 2022, at 4:30 PM Eastern. The report will be available on SEDAR. A conference call with CEO Paul Ghezzi and CFO Claudio Del Vasto is scheduled for the same day at 5:00 PM Eastern.

The company focuses on smart buildings and cities through IoT, Cloud, and SaaS technology, enhancing energy management and sustainability.

Kontrol Technologies Corp. (OTCQB:KNRLF) announced significant energy savings of 20% to 30% per annum for three REIT customers managing properties in Canada and the USA. Currently, their SmartSuite technology is deployed in seven buildings across these portfolios, with plans for scaling up based on proven performance. CEO Paul Ghezzi emphasized the potential for robust energy management solutions and sustainability improvement through their IoT, Cloud, and SaaS offerings.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has signed a Letter of Intent to acquire a building service company in Alberta, Canada. This Target serves blue-chip clients and generated $5.4 million in revenue with a 73% gross margin and 20% EBITDA. The acquisition will cost $3.5 million in cash, $500,000 in shares, and up to $750,000 in earn-outs, contingent on performance. The deal aims to enhance Kontrol's recurring revenue and expand its market presence.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has been selected by a major Ontario Property Manager for an energy efficiency upgrade in a social housing building. The project aims to replace HVAC systems, achieving 20% annual energy savings along with reduced emissions. Around 50% of the funding comes from government sources, supporting the company's strategic focus on aging buildings. Ontario’s government is investing $4.0 billion in housing programs from 2019 to 2028, reinforcing the demand for energy-efficient solutions.

Kontrol Technologies Corp. (OTCQB: KNRLF) has secured a contract with a cannabis company in Ontario and British Columbia to enhance energy efficiency through building upgrades. This project focuses on modernizing HVAC systems, leading to lower energy consumption and real-time monitoring. CEO Paul Ghezzi emphasizes the growing need for energy-saving solutions amidst rising energy costs. As identified by the IEA, energy efficiency is crucial for CO2 reduction and energy security, reinforcing Kontrol's commitment to sustainability in smart buildings.