Shares of Kontrol Energy (CSE: KNR) (OTCQB: KNRLF) rallied 57% today hitting a high of $1.42 per share on news that the Company has received positive lab results for its new Covid-19 technology called “BioCloud Analyser”. These developments stem from the recent news on August 5th 2020 which stated that Kontrol Energy was entering the COVID-19 space with new technology to detect and alert that Covid-19 is present in the air! Kontrol has potentially developed a real-time airborne viral threat detection system. In addition to the news on August 5th, KNR also received approval for a $50,000 government grant from the National Research Council of Canada for the advancement of this new technology.
Today, KNR announced that it has received initial positive results from lab testing of the BioCloud Analyser technology. This is a major step forward for the company as it embarks on receiving positive results from the National Research Council of Canada. KNR states that the current testing was limited to a controlled environment with a detection mechanism and not with the complete operation. The next step for KNR will be to undergo testing of its BioCloud Technology in a controlled environment with the live Covid-19 virus in the lab, and the company anticipates to complete its testing in the next 2-3 weeks. Once testing is completed in the next 2-3 weeks, the company will announce the real-time results from its lab testing and a final report will be submitted to the National Research Council of Canada for a review.
CEO of KNR Mr. Paul Ghezzi stated "We are pleased to announce that our detection mechanism, previously announced on August 5th, 2020, has completed its initial proof of concept test results. We have now validated that our detection mechanism can detect COVID-19 specific components in air samples under a controlled experiment”. In addition, the VP of KNR Mr. Gary Saunders stated "As we continue testing, we have also started the process of establishing procurement and supply chain solutions for the potential production of the BioCloud and we remain in discussions with the National Research Council of Canada for their continued support”. With these statements, this tells us that KNR is very confident in their technology as they are currently looking at supply chain solutions to get its BioCloud technology to market.
Being able to detect airborne particles of COVID-19 is a huge deal as the application for this new technology is universal and could become in very high demand as business begin to resume operations and countries look to open up their economies again. If successful, KNR could have its Biocloud Analyser in schools, offices, retirement homes, casinos, airports, office buildings, daycares, hotels, government buildings, hospitals and even manufacturing plants, like the current partnerships KNR has with Toyota Tsusho and Beyond Meat!
One of our top coronavirus stocks has been Sona Nanotech, a life sciences company that has developed rapid testing technology which can detect if a person is infected with COVID-19 in 10-15 minutes with 96% accuracy. We alerted investors of SONA back in March at $0.51 cents and since then, shares of SONA soared over 3,000% since our alert and hit a high of $16.04 just in a few months! Now, if you missed the run on SONA, you might be in luck!
We believe that KNR will be successful in the testing of its BioCloud Analyser and once granted approval from the NRC, the trading activity may replicate those of SONA when the company received validation testing of its rapid testing kit. It’s important to note that KNR has half of the shares outstanding then SONA and approximately 44% of the company’s shares are held by insiders of the Company. This would leave only ~17M shares that are tradeable. With its tight float, increasing revenues and promising new technology, we believe that shares of KNR can move dramatically higher once it receives positive results from the National Resource Council of Canada and large purchase orders may follow suit shortly after!
Forward Looking Statements: This article may contain "forward-looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections as of the date of the content is published on this website. Wherever possible, words such as "anticipate", "believe", "expects", "intend" and similar expressions have been used to identify these forward- looking statements. Information in this article has been furnished for your information only, is accurate at the time of posting, and may be superseded by more current information. Except as required by law, we do not undertake any obligation to update the information, whether as a result of new information, future events or otherwise. This article should not be considered as personal financial advice. Full Disclosure: None of the companies mentioned in the article are clients of EquityInsight.ca. Directors of the parent company of Equity Insight may buy, hold or sell the securities before during or after this publication