Kontrol Technologies (NEO: KNR) this morning issued a brief update related to its BioCloud technology, with a number of smaller items revealed by the company. Chief among the developments is the successful completion of a pilot project, while the company has also experienced expanded distribution.
The first item identified by the company this morning is that a successful piloting of the BioCloud device has now been completed with Rowing Canada Aviron, enabling the company to now show live operating data to potential clients.
Its operational pilot in the Middle East has also finally begun following supply chain issues, while a pilot within a Canadian hospital is slated to begin in the second quarter of this year.
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Distribution has also increased, with a non-exclusive partner in India now distributing the BioCloud tech within the country. It appears however that the device is too expensive for many potential clients, with the company indicating that distributors have “expressed the interest in providing customers with a choice of an initial purchase versus an ongoing monthly payment.” The new program suggests a $200 monthly payment will be made by clients under the program following a small initial deposit.
Kontrol Technologies last traded at $1.97 on the Neo.
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.
