Kontrol Energy (CSE: KNR) this morning issued what it refers to as an update on its BioCloud product this morning, while also announcing distribution agreements for its products. Details throughout however were rather brief in nature.
With respect to the “update on its BioCloud technology development,” the company provided a simple, one sentence quote that provided no actual insight whatsoever. The quote, in full, states:
“Our team continues to execute on the vision to create and bring to market a safe space technology.”
The deep insight comes from the head of the company, CEO Paul Ghezzi. For those of whom will discredit this as being the jist of the update, we’d like to note that the firms news release headlined itself as “Kontrol Provides BioCloud Update and Enters into Distribution Agreements,” indicating that the distribution arrangement was not in fact the update. Near the end of the release however, the company did announce that it has gone through the efforts of launching a website for the device.
In terms of the distribution agreements, little was provided here in terms of details as well. The company stated that while it intends to sell to a variety of customers, it will also be entering into both exclusive and non-exclusive distribution channels for its BioCloud device. Two non-exclusive distribution agreements for the device have been entered into thus far, covering the provinces of Ontario and Saskatchewan.
Discussions are said to have been entered into with certain parties for industry exclusive distribution arrangements as well. These agreements however have been indicated to require minimum unit quantity orders.
Kontrol Energy last traded at $3.01 on the CSE.
Information for this briefing was found via Sedar and Kontrol Energy Systems. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
