Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
My concern is the unlimited A/S status they have other than that it looks great
Yes, clearly. I think this will be at least a double by Christmas.
I read their latest filing. They have a lot of business coming in, and from people who are not small time. I think this business is definitely a growing future business as ocean exploration just never stops growing.
I totally agree. And the CEO has been consistent in his guidance that second half of the year is going to be significant.
I feel good about this one. Its a solid industry to be in as there is always a need for their products. Money for their product is kind of certain since so many agencies that use them get government money.
I’m in and holding. Actually, I’ve added some shares in recent days. I think the company is solid and making the right moves for growth and success. Personally, I think that will be apparent before Christmas.
Anyone still following this or holding? I almost got in a while back when it was .54 but its just gone down since.
Traders trimming down ahead of the final quarterly figures being filed later this week
Preliminary results are net loss and revenues down almost 50% compared to Q1 of 2020
Lots of people will only read that far
spec
No dilution at this time. They are getting all the paperwork and process out of the way in order to be ready when capital is needed.
Maybe this: https://sensortechcanada.com/the-autonomous-compass-project/
Every stock I love , loves dilution...MFKR
Kraken Announces $2.2 Million of Subsea Batteries and Sonar Contracts & Project Funding
https://krakenrobotics.com/kraken-announces-2-2-million-of-subsea-batteries-and-sonar-contracts-project-funding/
spec
This is going to be a wild day, overseas markets gobbling up KRKNF
Premarket up 25% already
finally getting noticed, 3 month target $1.25, 12 month $1.85
spec
Sorry thats t212 trading platform.
Yes on Reddit and will be on 212 tomorrow, buckle up.
There’s some solid buzz on Twitter. I’ll do some digging tonight.
Haha, I’m here. Enjoying the run up today. But wondering why. Can’t be just the news the other day of the 3.5 million contract.
Closed near HOD up 18%
Kraken is released!
spec
BOOM! Someone finally lit the fuse on Kraken!
KRKNF up 15% on big volume
spec
Release the Kraken!
.45 usd - multiple from here in 2021
spec
Fat finger trade at .78 really messes up the charts
no doubt it got corrected but sheesh, it makes a mess
spec
No reason for the pullback, IMO
Kraken should run on earnings and operational updates with contracts and partnerships
spec
Now .45c yikes
Glad I sold half in the 80s. But I would think this offering will
Work out at 67c. Let's see what he does with the cash.
Took a beating on sp today after the announcement of 10M CAD cash raise at .67 CAD (.5035 USD)
spec
PNG...get ready to rumble....break .88c then we head to dolla land!!
PNG.V headed to 88c...stock is not overbought at this point, MAKERS want you to believe so!!
There are no convertible debts currently, nor are any likely
They have a $1.5M revolver and small amounts of long term tease liabilities
Anyone can read the filings on SEDAR and see the cash flow and contract awards are more than sufficient to fuel the growth for the near term
The current challenge is only their ability to scale up and deliver on the contracts in hand
There are analyst reports as well
Looks very promising to me and I have a significant position that I acquired far below current SP
spec
This is a dilutive play. Look at their debt! Huge debt conversion coming. I would avoid
The market is finally waking up to this little gem
spec
PNG.V here we go....my hometown gem is about to shock and destroy!!
NEWS: $KRKNF Government of Canada Expresses Support for Kraken's Defence Export Sales
ST. JOHN'S, Newfoundland, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is very pleased to acknowledge the support and recognition of the Government of Canada regarding its recent mine countermeasures system contract booki...
Find out more KRKNF - Government of Canada Expresses Support for Kraken's Defence Export Sales
PNG.V getting ready to blow up. It so deserves a big run!
PNG.V the time has come for this to retest the the previous high and beyond to 98c!!
News; $KRKNF Kraken to Supply Minehunting Systems to Polish Navy
ST. JOHN’S, Newfoundland, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that on September 1st, it signed a contract to supply minehunting systems to the Polish Navy. As part of this contract, ...
Got this from KRKNF - Kraken to Supply Minehunting Systems to Polish Navy
Up +20% on 5X normal volume with 30 min till closing bell
Still at only ~$60M market cap and with the recent growth trajectory and multiple long-term military contracts, I expect it to trade over $1 before EOY
spec
Kraken to supply mine hunting systems to Polish Navy
https://krakenrobotics.com/2060-2/
ST. JOHN’S, NEWFOUNDLAND, September 8, 2020 /GLOBE NEWSWIRE/ — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that on September 1st, it signed a contract to supply minehunting systems to the Polish Navy. As part of this contract, Kraken will deliver its KATFISH™ towed Synthetic Aperture Sonar, Tentacle® Winch and Autonomous Launch and Recovery System (ALARS) in the second half of 2021. Kraken’s equipment will be integrated onboard the Polish Navy’s new KORMORAN II Mine CounterMeasure (MCMV) vessels in Gdansk, Poland.
Kraken CEO Comments
Karl Kenny, Kraken President and CEO noted: “We are very pleased to sign this contract to supply our KATFISH™ and ALARS systems for the Polish Navy’s new minehunting vessels. Kraken is honoured to be working with such a strong NATO ally. Due to confidentiality reasons, Kraken cannot disclose specifics about the contract – other than to say that it is significant and that we expect it to be a strong enabler within other NATO nations. Should the Polish Navy be successful in exporting its new KORMORAN II MCMVs to other countries, we could see additional KATFISH™ and ALARS sales opportunities in these international markets.”
Figure 1: KATFISH™and ALARS – Storage Position
Polish Navy Comments
Captain Piotr Sikora, Chief, Naval Warfare Systems Branch, Armament Division, Polish Navy Inspectorate noted: “The building of new capabilities and acquiring the most advanced equipment is necessary to counter the naval mine threat in the difficult Shallow Water and Very Shallow Water zones. This was our goal during long and complex trials of our first ship, ORP KORMORAN. Kraken’s KATFISH™ has met all our requirements, as evidenced by our tests at sea. The unique capabilities of this system will provide us with much greater efficiency and will allow us to build strength for the 21st century. We are convinced that with such an advanced Synthetic Aperture Sonar onboard, our new MCM Vessels under the Polish and NATO flag will make a huge contribution to build both national and international security at sea as we face the naval mine challenges of the 21st century.”
Figure 2: KATFISH™and ALARS – Deployed Position
Figure 3: Polish Navy KORMORAN II MCMV
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Toronto, Ontario; Bremen & Rostock, Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.
spec
The Royal Danish Navy contract was announced previously but this is the PR on the signing and finalization of the deal.
The contract with the Polish Navy is brand new today
spec
News; $KRKNF Kraken Signs $36 Million Danish Navy Contract
ST. JOHN'S, Newfoundland, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is very pleased to announce that today it has signed a contract with Danish Ministry of Defence, Acquisition and Logistics Organization (DALO) to supp...
In case you are interested KRKNF - Kraken Signs $36 Million Danish Navy Contract
Kraken Announces $3 Million of Government of Canada Funding for ThunderFish® XL Development
ST. JOHN’S, Newfoundland, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that it will receive a $2,909,891 non-refundable financial contribution from the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP). The funding will be received over a 26-month project period and will be used to support the development of Kraken’s seabed resident ThunderFish® XL Autonomous Underwater Vehicle (TFXL AUV).
Building from the previous development efforts of the ThunderFish® Alpha AUV, the ThunderFish® XL AUV will be larger and with an increased depth rating, have a larger payload capacity and have longer mission endurance. Most importantly, the ThunderFish® XL will have key capabilities that are lacking with similar underwater vehicles in the industry today. These include: 1) the ability to transition from high-speed survey mode to “zero” speed hovering mode in-mission; 2) through-the sensor acoustic, laser and optical target detection, image recognition and inspection; and, 3) using onboard sensors to improve vehicle navigational accuracy.
ThunderFish® XL will be depth rated to 6,000 metres and carry an array of sensors and custom payload modules, including Kraken’s AquaPix® Synthetic Aperture Sonar, SeaVision® 3D laser profiler, SeaThrust® rim-driven thrusters and SeaPower® pressure tolerant batteries. All of these will be integrated with advanced artificial intelligence algorithms onboard the vehicle. In addition, the modular design will allow for rapid sensor reconfiguration and battery replacement. Finally, Kraken will develop a conceptual design for a robust and autonomous multi-modal docking solution allowing TFXL to function as a seabed resident AUV that can run a wide variety of missions from its underwater docking station.
It should be noted that the ThunderFish® XL is significantly different from the more common “long endurance” AUVs that are prevalent today. Notable differences include:
A much longer period of time in water;
Period of deployment involves multiple missions;
Vehicle may be completely shut down between missions;
Typically utilizes a subsea docking structure for safety; and
Typically involves charging and/or data download/communications while at dock.
Kraken CEO Comments
Karl Kenny, Kraken’s President and CEO said, “The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) has been an invaluable partner to Kraken for many years. We sincerely appreciate their commitment to help us further develop our ThunderFish® XL AUV. AUVs have evolved from an emerging, niche technology to a viable solution and an established part of underwater operations in both military and commercial applications. By combining our advanced sensor technologies with cutting edge artificial intelligence algorithms, it is our objective to deliver a cost-effective AUV solution that is truly autonomous as opposed to being simply automated. TFXL is a rectangle shaped, hovering AUV being developed for subsea resident applications. In the AUV space, Kraken is focused on using our in-house developed AUVs and procured AUVs to build a fleet of vehicles capable of providing Robotics as a Service rather than having a primary focus on selling AUVs. We expect that this will provide Kraken with a unique and valuable market position.”
https://www.globenewswire.com/news-release/2020/08/31/2085956/0/en/Kraken-Announces-3-Million-of-Government-of-Canada-Funding-for-ThunderFish-XL-Development.html
Including federal funding to be received for our OceanVision™ project, at quarter end Kraken had $4.9 million in previously awarded funding to draw upon from government This amount is not recorded in our financial statements until the cash is received.
I think it all looks good with big things on the horizon, wish it would have popped more today.
A little lighter on the revenue second quarter than I had hoped. But it would appear that third-quarter is going to be significant, as well as the entire second half of the year.
https://krakenrobotics.com/kraken-reports-q2-2020/
Q2 2020 Financial Highlights
Revenue for the quarter was $2.3 million compared to $1.3 million in the year ago quarter. Q2 revenue was driven by the sale of subsea batteries to a military customer, the delivery of MINSAS 60 LW sensors for man-portable vehicles to the U.S. Navy under its Foreign Comparative Test Program, the sale of a SeaVision® 3D underwater laser system to a defense contractor as well as Robotics- as-a- Service (RaaS) and Data Analytics for an offshore energy customer. Revenue for the 1H, 2020 was $8.7 million, compared to $2.7 million in the prior year, an increase of 220%.
Adjusted EBITDA* in the quarter was positive at $0.4 million, a 15.6% Adjusted EBITDA margin* compared to an Adjusted EBITDA* loss of $1.4 million in the year ago quarter. Adjusted EBITDA* for the first half of the year was $1.6 million, a 19.0% Adjusted EBITDA margin*, compared to an Adjusted EBITDA loss of $1.6 million in 1H, 2019.
Net loss in the quarter was $0.1 million compared to a net loss of $1.8 million in the year ago quarter. Share-based compensation expense in the quarter of $0.2 million compared to $0.1 million in the prior year.
Net working capital at the end of Q2, 2020 was $8.8 million, up $1.5 million from year end 2019.
Kraken exited the quarter with a cash balance of $3.4 million, compared to $2.1 million on year-end 2019.
Including federal funding to be received for our OceanVision™ project, at quarter end Kraken had $4.9 million in previously awarded funding to draw upon from government This amount is not recorded in our financial statements until the cash is received.
Subsequent to the quarter, notification was received that the complaint process regarding the Royal Danish Navy’s mine hunting upgrade program had been finalized, ruling in the Navy’s position on all points. The total contract value to Kraken is expected to be between C$35-$40 million, with the majority of that received over a 2-year equipment acquisition phase. The contract is expected to be finalized and start during Q3,2020.
Also subsequent to the quarter, NSP Maritime Link Inc. (NSPML) joined Kraken’s OceanVision™ project. NSPML is an indirect wholly owned subsidiary of Emera Inc., a multi-national energy company. OceanVision™ is a cross-sectoral pilot project designed to advance subsea technology and RaaS capability. Along with providing expertise and knowledge of critical subsea infrastructure, NSPML will contribute over $0.5 million during the term of the project.
Kraken has been named by Marine Technology Reporter to the MTR100 2020 – a list of the 100 most influential companies in the international marine technology marketplace. This is the eighth year in a row that Kraken has been selected. In addition to being named to the MTR 100, Kraken was listed 4th as one of the top 7 “Ocean Influencers” in the marine technology industry.
CEO Comments
“We are looking forward to commencing the Royal Danish Navy contract, which is a major competitive win for Kraken. We anticipate additional significant military orders over the balance of the year and further notable developments within our Robotics-as-a Service and Data Analytics business in the offshore energy sector. We have added significant depth to our team over the last year as we focus on continued innovation in the marine technology sector and now start to ramp on larger contracts and programs,” said Karl Kenny, Kraken’s President and CEO.
https://healthwriteups.com/2020/08/06/a-step-forward-atlantic-project-aims-to-trace-marine-movements-with-ocean-aware-project/
Atlantic Project Aims To Trace Marine Movements With Ocean Aware Project
August 6, 2020
The new Canadian Atlantic Project is trying to create techniques for tracking fish that could affect researchers and businesses around the globe. Hence, they introduced the new Ocean Aware Project.
The Ocean Aware Project
Recently, with the involvement of other partners, Canada’s Ocean Supercluster introduced the Ocean Aware project. The Ocean Aware project will create and popularize world-class answers for tracking the health of fishes, their movements, the environment, and supporting both beneficial and economical ways in the ocean. The Ocean Aware project is worth 29 million dollars.
Innovasea is conducting this project, alongside Dartmouth Ocean Technologies, Ocean Choice International, Xeos Technologies, Irving Shipbuilding, and Emera. Innovasea designs the most developed and up-to-date aquatic solutions to track fish and fish farming.
Mark Joliemore explains that this is a huge chance with broad authenticity to identify the health of marine creatures. He is the current president of Innovasea.
Ocean Aware looks to grow new advancements to screen fish health and development, strengthen stock assessments, and accurate fishing. Subsequently, it means to more readily screen marine life around fixed structures that are present underwater.
Analysis
This is the second project supported under the SuperCluster Technology Leadership Stream. The first was $20 million for a progressed undersea planning project headed by St. John’s-based Kraken Robotics. As per Jollymore, Innovasea and other companies assemble the new innovation and later chip away at the tools to put up them for sale to the public.
He additionally plans to prepare existing staff over the span of the project and include new openings in different territories to develop the local marine innovation sector.
In the wild fishery, Jollymore said improved techniques will prompt better information for working with different universities and the Canadian Fisheries and Marine Association to assemble stock evaluations.
Zingao, a researcher at the Fisheries and Oceans Research Institute at the Newfoundland Memorial University, said he was thrilled for the Ocean Aware program in light of the fact that the information produced by the new tools is “exceptionally important” for assessment of resources.
Jin Gao is a scientist at the Fisheries and Oceans Research Institute at Memorial University. She said she needs to bring issues to light about what’s going on in the different environments. This is going to help them spot, when, and how much fish is present in the sea.
At the point when Innovasea builds up their innovation, Gao said a group of three researchers will label distinctive fish species to gather new information. A superior comprehension of where various species show up can help organizations get fish and other marine life and diminish fuel costs as they can target their objectives in a more efficient manner.
What the other companies have to say
Atlantic salmon were found during the 2018 fish health assessment of the Department of Fisheries and Oceans in BC. As indicated by Sullivan, this is to make wild fisheries available to people in the future.
As per Jollymore, the health checking highlight permits marine organizations to know the status of their assets. This means it helps them to know where Atlantic salmon are passing in the sea.
However, for marine sustainable power sources, for example, flowing turbines, new tools help shield structures from obstructing with wild fish.
Additionally, it diminishes the function of machines as dangerous species travel through the region. Fish and marine life need to securely go around the hydropower plants. Moreover, they can concentrate on the objective and different machines.
Ocean Aware costs about $13.71 million from Supercluster. This is worth $15.7 million from industry associates. They have around 20 other projects under the agreement. However, it will take a couple of long breaks before the final announcement.
Kraken Announces Addition of Cathy Bennett to Board of Directors
6:00 AM ET 8/4/20 | Dow Jones
Kraken Announces Addition of Cathy Bennett to Board of Directors
ST. JOHN'S, Newfoundland and Labrador, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada's Ocean Company, is pleased to announce that Cathy Bennett, has joined the Company's Board of Directors.
Ms. Bennett brings more than 25 years of experience as an entrepreneur, business executive, and corporate director across private, public and non-profit entities. Her experience crosses multiple sectors including the government, energy, manufacturing, mining, restaurants, telecom, and technology sectors. Ms. Bennett was a Member of the House of Assembly of Newfoundland and Labrador from 2014 to 2018 as well as Minister of Finance and the Status of Women. A seasoned corporate director, Ms. Bennett holds an ICD.D designation from the Institute of Corporate Directors and currently sits on the Boards of Business Development Canada (BDC) and SheEO, a non-profit supporting and financing female innovators. Her previous public company Directorships include Bell Alliant and New Millenium Iron Corp.
"We welcome Cathy to our Board as a new independent director and look forward to the leadership she will bring," said Karl Kenny, Kraken President and CEO. "We were looking to add expertise to the Board and Cathy brings extensive operational and strategic leadership across a breadth of sectors. We are thrilled to be welcoming her perspective during our period of rapid growth."
"I am excited to join Kraken as the market for marine robotics is on a strong growth curve," said Ms. Bennett. "The Kraken team has put together an impressive array of industry leading products and formed significant partnerships to propel the company forward. I look forward to contributing to the ongoing development and execution of the Company's strategy."
The Board of Directors has approved the issuance of 300,000 options to Ms. Bennett. These options have an exercise price of $0.51 and have a three-year term.
At the Company's annual general and special meeting of shareholders held on June 26, 2020, an amended and restated stock option plan (the "2020 Plan") was approved by 99.54% of votes cast by shareholders. The 2020 Plan contains the following amended provisions: (i) an amendment to permit a ten (10) business day extension of the expiry date for an incentive stock option (an "Option") where the expiry date would otherwise fall during a Blackout Period (as defined in the 2020 Plan); (ii) amendments allowing for the immediate vesting of previously issued Options upon the occurrence of certain events constituting a Change of Control (as defined in the 2020 Plan) and certain other events; and (iii) certain clerical amendments to align provisions of the Company's previous stock option plan with current policies of the TSX Venture Exchange (the "TSXV") and the terms of the 2020 Plan. The 2020 Plan remains subject to final approval by the TSXV.
The full text of the 2020 Plan is filed on www.sedar.com as a schedule to the Company's management information circular dated May 19, 2020.
https://www.cantechletter.com/2020/06/kraken-robotics-is-a-buy-says-beacon-securities/amp/
Kraken Robotics is a buy, says Beacon Securities
Picture of author,
By Nick Waddell
2 months ago
June 6, 2020
Home All posts
Kraken Robotics
It’s been a strong, profitable start to 2020 for Kraken Robotics (Kraken Robotics Stock Quote, Chart, News TSXV:PNG), says Beacon Securities analyst Gabriel Leung, who reviewed Kraken’s first quarter results in an update to clients on Monday. Leung said the company’s pipeline of opportunities should make PNG an attractive name to own over the next year.
St. John’s, Newfoundland’s Kraken is a marine technology company supplying sensors and underwater robotic systems for military and commercial uses. As detailed in its quarterly report on Monday, Kraken hit $6.4 million in revenue for its first quarter ended March 31, 2020, up from $1.4 million a year earlier, and adjusted EBITDA of $1.3 million compared to a loss of $0.3 million a year earlier.
CEO Karl Kenny called the quarter well-balanced, with input from the delivery of the company’s second Katfish sonar system to US defence company ThayerMahan, delivery of subsea batteries to a military customer as well as services to military and offshore energy companies.
Naval Undersea Warfare Center AUV with Kraken’s AquaPix®
At the same time, management noted that while currently not experiencing major impacts from the COVID-19 crisis, there could be impacts on Kraken’s supply chain, customers and operations which may affect contracts going forward.
“I am very proud of our team which has been executing extremely well in a challenging operating environment,” said Kenny, in a press release. “We have many high value projects we are pursuing which will continue to drive growth and value for shareholders.”
Looking at the quarter’s results, Leung said the $6.4-million top line was equal to his $6.3-million forecast while the $1.3-million in EBITDA was better than his $772,000 estimate. The analyst noted that gross margins were up to 45.7 per cent versus 43 per cent a year earlier but down from 51.4 per cent for the previous quarter.
Leung noted Kraken’s end-of-quarter cash of $2.1 million against debt of $419,000 and remarked that while management declined to give guidance, the upcoming Q2 is likely to be supported by previously announced contracts, with Leung forecasting revenue around $4.5 million.
“As we look into H2 2020, we believe there remains a large pipeline of opportunities, which could drive significant growth in Q4 2020 and 2021 including: additional navy wins (we understand Kraken is in the midst of finalizing another mid-sized contract); additional battery orders from Ocean Infinity, along with Katfish orders for its new Armada initiative; additional Katfish orders from maritime technology company ThayerMahan (recall the CEO of ThayerMahan Vice Admiral Michael J. Connor is also on the Board of Kraken); and the finalization of previously announced contracts,” Leung wrote.
Kraken
With the update, Leung has reiterated his “Buy” rating and $1.35 per share target, which at press time represented a projected 12-month return of 125 per cent.
Looking ahead, Leung thinks Kraken will generate fiscal 2020 revenue and EBITDA of $20.9 million and
$2.6 million, respectively, and fiscal 2021 revenue and EBITDA of $40.0 million and $8.4 million, respectively.
Kraken’s share price rose by over seven per cent in trading on Monday, with the stock now sitting at even year-to-date.
—————
spec
Kraken Robotics on twitter
Looking forward to tomorrow's announcement!
— Kraken Robotics (@KrakenRobotics) July 27, 2020
Through the @CanadaOSC Technology Leadership Program, Kraken has been able to accelerate the timeline for #OceanVision™ and there’s no doubt this project would still be in its infancy stage without the support of the OSC. https://t.co/GM37xmylxE
Have you been to the fabrication and assembly facility on this one?
just wondering if there is a noticeable surge in activity with the newly announced contracts
spec
Followers
|
38
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
560
|
Created
|
09/12/17
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |