Plymouth Rock Technologies (PRT:CSE .54)
“Plymouth Rock Technologies Inc. is committed to the development of technologies related to the remote detection of assault firearms and suicide bombs concealed on the person or a carry bag. Plymouth Rock focuses on detection methods without the need for a checkpoint or the compliance of the suspect who is being screened. Plymouth Rock’s technologies encompass the very latest radar techniques for quickly detecting, locating and identifying the presence of threats.”
Market Cap Comparison:
Patriot One – $310 Million (after removing $70 Million in cash)
Plymouth Rock – $17 Million (based upon 32M shares outstanding)
Patriot One (PAT:TSXV $2.70) has a market cap of $380 Million. They had negligible revenue in 2018 but they do have approx. $70 Million in the bank after raising $46 Million in November at $2.50. The valuation is abnormally high when they have no revenue, but investors are willing to pay a significant premium for (potential) future revenue. Patriot has a covert weapons detection system that uses microwave technology from a wall or ceiling mounted box to scan within a few metres for concealed weapons. It was very well marketed / promoted so they managed to get a lot of traction and a very high valuation.
By comparison, PRT is VERY unknown as they are an American based company and to date (although this will begin to change), they have been non-promotional. But fundamentally when compared against PAT, PRT is very impressive.
Plymouth Rock went public through a reverse takeover mid 2018 and started trading November 1st. The market has ignored them, and I had also never heard of them – until this past week when they issued news that they had locked down new shoe-scan technology.
There is no doubt, this is impressive technology with enormous market potential. And it piggybacks on further security technology they announced mid February.
The folks running this are equally impressive. Very strong tech backgrounds and their advisory board includes:
1) Jason Elwood – 37 years with Raytheon and retired as Global VP of Operations for Raytheon Integrated Defense (2013 to 2018)
2) Douglas Smith – Former Assistant Secretary for the U.S. Department of Homeland Security. He has tremendous experience in national security, artificial intelligence, and public speaking. Not to mention his contacts in Washington.
Liquidity is good in the 0.50’s where the market cap is below $20 Million CDN – 1/18th that of Patriot One.
I was an early investor in Patriot near 25 cents (unfortunately sold too early) and I followed them through MicroCap.com in 2016. Although, I missed the big run – lack of patience on my part (plus I didn’t understand the high valuation).
So, I am very familiar with Patriot’s technology and I can tell you that what I see with Plymouth is equally impressive. They just don’t have the audience (yet).
Plymouth’s strategy is to have several “irons in the fire” (cutting edge security technology) and advance them to a point where they can be integrated with, or licensed to, a large International company that has significant market penetration.
This cuts down on the huge amount of capital required for marketing (and the stock dilution that occurs when you finance that growth), while providing the potential for a long-term income stream or the outright buyout of the technology – or the company as a whole.
Go through their website for due diligence and here is their latest corporate presentation:
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