KONTROL TECHNOLOGIES CORP - KNRLF STOCK NEWS

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) reported record Q1 2022 revenues of $26.6 million, a 702% increase year-over-year. The company achieved a net income of $1.6 million, reversing a loss of $823,733 in Q1 2021. Adjusted EBITDA rose 123% to $2.5 million, while gross profit was up 281% at $6.7 million. The company also announced contracts worth $25.7 million for HVAC projects.

Kontrol Technologies Corp. (OTCQB:KNRLF) will report its financial results for Q1 2022 on May 16, 2022. A conference call to discuss these results is scheduled for 8:30 AM Eastern on the same day, hosted by CEO Paul Ghezzi and CFO Claudio Del Vasto. Investors can find complete financial documents on SEDAR.

Kontrol Technologies Corp. has launched an at-the-market equity program (the ATM Program) allowing the issuance of up to $10,000,000 in common shares. This initiative aims to enhance capital expenditures, working capital, and general corporate purposes, including ongoing research and development. The program will remain effective until all shares are sold or the Base Shelf Prospectus expires. Distributions will be at market prices, with the program managed under an equity distribution agreement with Echelon Wealth Partners Inc.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) is advancing its technology portfolio with the launch of Kontrol BioWater, building on its existing BioCloud technology for early viral detection in wastewater systems. With a budget of $300,000 allocated for R&D, the new system aims for real-time, cloud-based monitoring. This innovation supports public health strategies by providing rapid insights into viral presence, crucial for COVID-19 monitoring. However, the company acknowledges the uncertainty surrounding future government funding for its projects.

Kontrol Technologies Corp. (OTCQB:KNRLF) has secured multi-year service agreements to manage building energy systems for 9 new commercial buildings. CEO Paul Ghezzi emphasized the importance of their technology in reducing rising energy costs through real-time management and monitoring. Kontrol also plans to monetize carbon credits from energy efficiency upgrades through the CSA Clean Projects Registry, with initial projects expected to be completed by May 2022. This expansion reinforces Kontrol's position as a leader in smart building technology.

Kontrol Technologies Corp. (OTCQB: KNRLF) has revised and refiled its business acquisition report concerning the acquisition of Global HVAC & Automation Inc.. This updated report reflects interim financial statements for the period ended July 31, 2021, addressing previous deficiencies. The filing was made at the request of the Ontario Securities Commission in conjunction with a short form base shelf prospectus review. Additionally, Kontrol is exploring a listing on a major US stock exchange but has not submitted a formal application due to market conditions.

Kontrol Technologies Corp. (OTCQB: KNRLF) reported record revenues of $58 million for 2021, a 367% increase compared to the previous year. The fourth quarter saw revenue of $28.7 million, up 567% year-over-year. Net income reached $1 million, a recovery from a loss of $1.9 million in 2020. The firm also reduced secured debt by $3 million and achieved an Adjusted EBITDA of $6.5 million, marking a 227% increase. The company emphasizes sustainability and aims for continued growth with new contracts.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has secured a $16 million HVAC and Automation project for a new high-rise building in the Greater Toronto Area. This project is funded by an existing customer and follows a previous $9.7 million contract. Initial site preparations are underway, with project completion expected in Q4 2023. The project includes affordable rental housing units, expanding the company's business opportunities.

Kontrol Technologies Corp. (OTCQB:KNRLF) is expanding into the student housing market with the first installation of its SmartSuite® technology. This solution offers building automation, allowing control of heating, cooling, and ventilation through a unified, cloud-based platform. The student housing market is substantial, with approximately 145,000 beds available in Canada. SmartSuite® aims to deliver energy savings and emissions reductions. The technology includes features like real-time energy management and integration with utility communications, enhancing energy efficiency across various sectors.