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Shares of KULR are extremely difficult to borrow right now and the lack of trading volume alone should give firms pause in allowing account holders the ability to sell KULR shares short. Given the relatively high % of short daily volume witnessed over the past couple of months, the logical short seller candidates are the market makers, who have been known to manipulate low volume and low priced stocks by short selling (see post #464 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157548462). I also believe these market makers have been front running many trades and have used many "hidden orders" in the process.
As I've mentioned in a previous post, it does appear that short sellers are taking a bit of a breather at these lower price levels, due to greater risk and difficulty in exploiting weak-handed shareholders. I think this past Wednesday's NASA press release really helped our cause and believe these market makers will eventually get burned. Stay tuned...
Over the last month or two short sellers (market makers) have been steadily putting in price ceilings at lower and lower prices to induce selling and profiting from shareholders bailing out on the trade.
Short volume has represented a rather large % of daily volume. Below is data showing daily short volume, total volume, and % short volume.
Date Short Volume Total Volume Short Percent
2020-08-26 19,405 58,854 32.97%
2020-08-25 18,400 63,066 29.18%
2020-08-24 19,290 52,105 37.02%
2020-08-21 2,343 45,008 5.21%
2020-08-20 38,071 137,830 27.62%
2020-08-19 17,061 52,539 32.47%
2020-08-18 42,613 109,125 39.05%
2020-08-17 15,900 37,050 42.91%
2020-08-14 3,425 12,733 26.9%
2020-08-13 29,144 64,165 45.42%
Last 5 days short percent 27.32%
Last 10 days short percent 32.52%
Last 20 days short percent 38.29%
Last 50 days short percent 51.65%
Data Source: FINRA
Note at these lower price levels, it's become less profitable (even potentially a losing trade) with greater risk on the part of market makers shorting the stock. This is reflected in the decline in daily short volume over time with the stock now trading at it's lowest levels since the price rally in mid to late June 2020.
If shareholders are less likely to sell at current price levels, the market makers cannot profit. Additionally, market makers cannot hold onto naked short positions indefinitely and are required to cover any short positions within T+4 days (SEC Rule 204.
Stay the course. I believe KULR's growth will bear out (as indicated by CEO's statements in the shareholder call) as the Company achieves new customer acquisition and makes progress into key market verticals in the energy storage, E-mobility, and 5G infrastructure spaces. These are all high growth industries.
NASA choosing to utilize KULR's PPR solutions (i.e. TRS and ISC technologies) for future manned and unmanned space applications is a big endorsement as to the efficacy of the Company's technologies. This is a great selling point for KULR as it continues to engage prospective customers and commercialize its products!
KULR Technology Group Awarded by NASA Marshall Space Flight Center to Build 3-D Printed Battery Systems for Manned and Robotic Space Applications
Development of new 3D technology may enable future space missions to print spare battery packs on demand and en route therefore reducing the cost of transport and reserving cargo capacity
SAN DIEGO, CA / ACCESSWIRE / August 26, 2020 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR") today announces that NASA's Marshall Space Flight Center (MSFC) has awarded the Company a dual-use technology development agreement to build 3D printed battery systems for manned and robotic space applications. KULR's passive propagation resistant (PPR) and internal short circuit (ISC) technologies will be used to develop 3D printed battery systems that meet the JSC 20793 Revision D safety standard created by NASA for crewed space missions.
"NASA employs highly rigorous assurance and safety standards, especially for our man-rated technologies. KULR's PPR design solution for future manned and unmanned space missions is an ideal fit for mass design, flexibility and cost, all the while maintaining this safety rigor through battery risks such as thermal runaway," said NASA MSFC Deputy Chief Technologist John Carr.
Only a handful of groups are working to adapt 3D printing for space application, and NASA's MSFC is at the forefront of engineering excellence for 3D printing technology. MSFC's 3D printing expertise, combined with KULR's proficiency in designing PPR battery packs, establishes the pinnacle in safe battery power systems manufactured in outer space. KULR's PPR solution demonstrated its efficiency when it was used by NASA to transport and store batteries aboard the International Space Station last year.
"Through our partnership with KULR, we will now have the incredible ability to build space-optimized battery pack systems in-orbit," said Brandon Lewis, Human Landing System Cross Program Analysis Coordinator. "We take the safety of our astronauts very seriously. KULR's technologies will enable us to build safer battery packs that prevent dangerous thermal runaway propagation and protect our most valuable assets."
The ability to 3D print in space has numerous advantages, including the potential to make human space exploration less costly; allowing for extended missions; and reserving cargo capacity for other valuable items and/or equipment.
"The optionality to repair and replace battery packs in space with parts 3D printed in space is a complete game changer," said Dr. Timothy Knowles, co-founder and chief technology officer of KULR. "3D printing of KULR's PPR battery design will help lower the costs associated with battery pack transportation for the upcoming Artemis missions, where NASA will build sustainable elements on and around the moon in preparation for an eventual human mission to Mars."
About KULR Technology Group, Inc.
KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://finance.yahoo.com/news/kulr-technology-group-awarded-nasa-130000542.html
Right. The HYDRA TRS is KULR's patented carbon fiber + aqueous (thus HYDRA) solution technology, which can be incorporated into a battery enclosure/pack, bag, etc and isn't necessarily a standalone product. However, TRS prevents a condition known as thermal runaway propagation, which is to say that it does prevent an explosion. TRS also serves the key purpose of venting flammable gases that are emitted when a battery goes into a thermal runaway event.
Here is a video of the Americase bag in a thermal runaway test:
Yes, KULR has a lot of competitors in the PPR space for lithium batteries.
Don't know why. Perhaps it died on the vine?
No problem SF. I suspect that Brimstone's bag was used as an added layer of protection with TRS doing the real heavy lifting. I also think Brimstone is deathly afraid of becoming obsolete if and when KULR's containment bag tech really takes off and they decide to go after their market space. It's also worth noting that Brimstone provides heavy duty containment bags that are quite pricey to manufacture. KULR recently partnered with Americase, who makes one time use packaging (bags) for shipping. The cost of these bags are ultra cheap compared Brimstone's solutions, yet with KULR's tech the job gets done. If KULR is capable of commercializing in this space, imagine what they could do in Brimstone's space on pricing alone. KULR offers a superior product at a much much lower cost point.
Also, it is interesting to note that Brimstone made their press release soon after KULR's PR, so it's likely that they did so out of fear of losing customers. KULR is going after many markets, and focusing on much bigger markets than containment bags for the airline industry (Brimstone's bread and butter). This is just my opinion, but I honestly don't think Brimstone is much more than an afterthought to KULR right now. Their focus is on much bigger game and are hard at work to accomplish their goals.
Good question SF and great find. Thanks for bringing this to my attention.
KULR closed on a deal with Americase to supply packaging or containment bag that utilizes the Company's core PPR technologies including TRS, which was used to ship to and store batteries aboard the ISS. Americase, America's largest lithium battery packaging provider for shipping damaged, defective, or recalled batteries, works with virtually all major electronics manufacturers and handles 70% of this type of business.
On the subject of Brimstone:
1) Brimstone's press release occurred on September 24, 2020 after KULR's press release dated September 3, 2020. The the 2nd and 3rd pictures (and perhaps all of them) shown in this press release, which Brimstone claims is their bag, is in fact KULR's bag with TRS technology inside. I have notified KULR and I'm sure they will contact Brimstone to cease and desist from using KULR's images. I do not know in what specific regard Brimstone's bag was used for this mission, but I do know that KULR's TRS was the core technology used, not Brimstone.
An abstract of an evaluation study performed by NASA regarding the containment bags used for this mission and the results can be found here.
2) Brimstone and KULR's press releases both quote from Daniel Barineau, Senior Project Manager at Leidos regarding this mission.
Barineau Brimstone quote:
"Lee, and his team at Brimstone, have supported our needs for fireproof Lithium Ion battery stowage bags for the International Space Station with rapid delivery, frequent consultation and readily offered historical expertise. They have modified their off-the-shelf designs to meet our needs and have shown a willingness to go above and beyond to make our efforts a success under a compressed schedule." said Daniel Barineau, Senior Project Manager, at Leidos. “In my role as a manager supporting hardware development projects related to the International Space Station and Space Shuttle over the last 30 years, I have had the chance to work with many subcontractors and suppliers. In all those years, I have never come across a company that was as responsive, customer focused, and easy to work with as Brimstone.”
There's no real substance to this quote and noted in bold above, Brimstone "modified their off-the-shelf designs to meet our (Leidos) needs". I don't know for certain but perhaps this means that KULR's TRS had to be utilized in conjunction with Brimstone's containment bag? From the quote we can gather that Brimstone had a built in working relationship with Leidos. However, sounds like to me that KULR's TRS technology was the vital part of this specific mission. This is also evidenced by the fact that Brimstone used KULR's images and the more meaty quote from Barineau below.
Barineau KULR quote:
“KULR has provided a key component to the efficiency of the thermal management solutions we are developing for NASA,” said Daniel Barineau, Senior Project Manager, at Leidos. “KULR’s thermal management technology should have applicability beyond this one implementation, both on the ISS and future destinations. Thermal management solutions are crucial to the safety and security of all missions, and we are pleased to see another effective use of KULR’s technology. The TRS is being flight certified now and the bags will fly on a resupply mission to the ISS on NG-12 in October 2019.”
Note that no statement was made about Brimstone's technology being a key component of the mission and that relative to the quote for KULR, Brimstone's is more a puff piece, perhaps more to do with politics than anything else. Until a safer and more cost-effective solution can be made or that high energy density battery technology evolves to the point where potential thermal runaway issues are solved at the level of the battery itself, in my opinion, KULR's passive propagation technologies are the future of safe battery enclosure technology.
In closing, I provide a quote from Dr Eric Darcy, head of NASA Johnson Space Control battery division:
"KULR’s solution is the lightest weight battery heat sink option NASA has evaluated to date that has excellent promise to prevent thermal runaway propagation with the highest energy density COTS Li-ion cell designs,” said by Dr. Eric Darcy, NASA Johnson Space Control lead battery principal. “To date, NASA has not found a design solution with as much promise for preventing Li-ion battery TRP with as positive temperature margins on the adjacent cells while also being very lightweight.”
KULR Technology Group to Present at the LD 500 Virtual Conference
Company to discuss new patents, partnerships, and supply agreements for its thermal management technologies
LOS ANGELES, CA / ACCESSWIRE / August 20, 2020 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR"), a leading developer of thermal management technologies for batteries and electronics, announced today that it will be presenting at the 12th Annual LD 500 Conference on Wednesday, September 2, 2020 at 4:20 PM ET. Michael Mo, CEO of KULR, will present virtually to an online audience.
Michael Mo will provide an overview of the Company and discuss key milestones including being recently awarded a patent for its Thermal Runaway Shield (TRS), a passive propagation resistant solution designed and successfully tested to reduce the hazardous risks associated with thermal runaway in lithium-ion battery packs. It was also awarded
a patent on its Fiber Thermal Interface (FTI), a highly flexible and compressible high performance thermally conductive carbon fiber material developed for a variety of different applications, including the space, automotive and electronics industries, as well as for industrial applications.
Register here: https://ld-micro-conference.events.issuerdirect.com/
Webcast link: https://www.webcaster4.com/Webcast/Page/2019/36694
"We have been waiting for this moment all year long. Due to COVID, it has been nearly impossible for physical conferences to even take place. I want to show the world that you can still learn, have a great time, and see some of the most unique companies in the capital markets today. All without having to step foot outside. For the first time, LD Micro is accessible to everyone, and we are honored to welcome you to one of the most trusted platforms in the space," stated Chris Lahiji, Founder of LD.
The LD 500 will take place on September 1st through the 4th.
View KULR Technology Group's profile here: http://www.ldmicro.com/profile/KULR
Profiles powered by LD Micro - News Compliments of Accesswire
About KULR Technology Group, Inc.
KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
About LD Micro
Back in 2006, LD Micro began with the sole purpose of being an independent resource to the microcap world.
What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space.
The upcoming "500" in September is the Company's most ambitious project yet, and the first event that is accessible to everyone.
For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.
KULR Technology Group Discusses Second-Quarter Results
Revenues increase 257% on new customer growth and service projects
SAN DIEGO, Aug. 20, 2020 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of next-generation thermal management technologies, has made its Second Quarter 2020 shareholder update and management's discussion of the recently filed financial results, conducted at 4:30pm EDT on August 18, 2020, available for replay at https://kulrtechnology.com/category/presentations. Some of the topics covered include:
Second Quarter 2020 Summary Achievements:
Increased revenues by 257%, driven by two-fold increase in customer transactions
Reduced monthly operating expenses by 20%
Raised $758,000 from the issuance of common stocks, net of issuance expenses
Awarded patents on its NASA-grade Fiber Thermal Interface (FTI) and Thermal Runaway Shield (TRS) solutions
Established new partnerships and supply agreements to implement proprietary thermal heat technology into electric vehicles, energy storage and other commercial applications
Operational Highlights:
KULR was awarded a patent on its Fiber Thermal Interface (FTI), a NASA-grade high-performance thermally conductive carbon fiber material developed for a variety of different applications, including space, automotive and electronics.
KULR was also awarded a patent on its Thermal Runaway Shield, which reduces hazardous risks associated with thermal runaway in lithium-ion battery packs.
The Company partnered with Silicon Valley-based Drako Motors to use FTI for the thermal management system of Drako GTE, a new ultra-high-performance electric supercar.
Dave Harden, former Chief of Strategic Prioritization at the Pentagon, joined KULR’s advisory board.
Signed an agreement with Volta Energy Products to provide passive propagation resistant (PPR) technology for implementation in stationary energy storage modules from the grid.
Launched a PPR battery design solution for space applications, including both trigger and production cells, for lithium-ion battery testing and safety.
Its innovative carbon fiber thermal management solution was used on the Mars 2020 Perseverance Rover SHERLOC instrument.
Partnered with Hazmat Safety Consulting to work with industry and regulatory leaders on PPR battery safety technology due to increased focus and concern on improving public safety from battery fires.
Announced licensing agreement with Americase for use of KULR’s PPR technology and supply of core materials for Americase’s patent-pending battery bag.
Regarding the first shareholder conference call conducted by the Company, KULR CEO Michael Mo stated, “I would like to thank our investors who joined the call and sent in their questions. The purpose of this call and others like it moving forward is to allow for a greater degree of transparency between KULR and its investors. We would like to encourage interested parties to continue to send in questions and communicate with our entire investor relations team.”
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://www.globenewswire.com/news-release/2020/08/20/2081296/0/en/KULR-Technology-Group-Discusses-Second-Quarter-Results.html
A transcript and audio recording of yesterday's shareholder Q&A call is available here: https://kulrtechnology.com/kulr-technology-group-second-quarter-shareholder-update-call/
Hindsight is 20/20 with chart or "technical" analysis and in my opinion is like fortune telling.
"Technical analysis is also chronically open to interpretation. For example, two technical traders can look at a chart and tell two different stories and see two different patterns. The chart's interpretations are in the eye of the beholder. Not all signals and patterns work."
"Technical analysis was developed for short-term traders. There is little value in assisting investment decisions, if any, for institutional money managers."
Source: https://seekingalpha.com/article/59187-why-technical-analysis-is-nonsense
To prove this point, here is an example of a stock that was in a downtrend for about two years and trading at decade+ lows before breaking out and achieving all-time highs this year.
Three Year Overstock Chart
That said, for those who believe in the merits of technical analysis, it's important to understand that price data or volume prior to June 2020 is meager at best, with many zero volume days. KULR's volume was relatively non-existent until recent times. So if one considers collective market participants (shareholders) as a "voting machine", data prior to June 2020 is far less meaningful. IMO, this is only the beginning of a long road ahead for KULR. I believe Company fundamentals is far more meaningful than chart analysis. One should pay closer attention to the business of KULR and potential for growth and not so much to the charts.
Good advice Badge.
KULR isn't cut from the same cloth as most of these "emerging" stage OTC companies. It's technologies have real potential to capture significant market share within the electronics and battery thermal management space. Hopefully tomorrow's call serves to allay shareholders concerns about the sharp drop in the stock's price and provides a clearer picture about the future. Although I have obvious biases (as a shareholder), I've done rather extensive homework on the Company and have confidence KULR will prevail. Hang tight guys!
For those of you who may have questions for KULR management, KULR will hold a shareholder call this Tuesday @ 4:30 PM EST. Instructions for emailing in questions and listening in on the call are in today's press release.
Released at 4:15 pm EST.
KULR Technology Group Inc. Reports Second-Quarter Results and Announces Shareholder Update Call
Revenues increase 257% on new customer growth and service projects
SAN DIEGO, CA / ACCESSWIRE / August 14, 2020 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR"), a leading developer of next-generation thermal management technologies, today announces its financial results for the second quarter ended June 30, 2020, and provides a summary of operational achievements for the first half of 2020, despite macro headwinds.
"We are pleased to have built a solid and extensive network of strategic business partnerships that are integral in the long-term value proposition of our business. These government, military and corporate partners have the resources, budgets and depth of business interests that we believe will be resilient against this current business environment," commented KULR Chief Executive Officer Michael Mo. "Given the challenges presented by the COVID-19 pandemic, we are pleased to report a strong quarter of revenue growth and remain cautiously optimistic about our opportunities for growth in the coming year."
Second Quarter 2020 Summary Achievements
*Increased revenues by 257%, driven by two-fold increase in customer transactions
*Reduced monthly operating expenses by 20%
*Raised $758,000 from the issuance of common stocks, net of issuance expenses
*Awarded patents on its NASA-grade Fiber Thermal Interface (FTI) and Thermal Runaway Shield (TRS) solutions
*Established new partnerships and supply agreements to implement proprietary thermal heat technology into electric vehicles, energy storage and other commercial applications
Second Quarter 2020 Financial Results
Revenues: KULR generated revenues of $201,128 in the second quarter ended June 30, 2020, an increase of 257% compared to revenues of $56,310 reported in the year-ago period. The increase in revenue was mainly due to a number of new customers who came on stream or ramped up their level of business in the second quarter.
KULR had sales transactions with ten customers in second quarter 2020, more than double the number of customer transactions for the comparable quarter of 2019. The increase reflects management's commitment to build new customer relationships through a growing pool of referrals and business development leads.
The Company's service revenues, which increased to $129,998 in second quarter 2020 from $4,000 in second quarter 2019, include certain R&D contracts and onsite engineering services, were not hampered by restrictions arising from working under COVID-19 shelter-in-place regulations. Product sales during these periods included sales of its component product, CFV thermal management solution, and ISC battery cell products.
Selling, General and Administrative (SG&A) Expenses: To effectively navigate current economic conditions, the Company reduced its payroll, consulting, travel, rent and outside services expenses, which resulted in a 20% decrease in SG&A expenses to $424,865 in the second quarter of 2020 compared to SG&A expenses of $534,262 reported in the comparable quarter of 2019. The Company also reduced its second-quarter 2020 R&D to $57,991 compared to $114,547 reported in the year-ago period.
Operating Loss: As a result of progress in revenue development and expense management, operating loss improved by 48%. The Company reported a loss of $323,141 for the three months ended June 30, 2020, compared to a loss of $621,049 for the comparable quarter of 2019.
Cash Position: Cash and cash equivalents and short-term deposits were $767,906 as of June 30, 2020, compared with $108,857 as of Dec. 31, 2019. Effective Feb. 27, 2020, the Company entered into a 24-month Standby Equity Distribution Agreement ("SEDA") with an investor, pursuant to which the Company may, at its discretion, sell up to an aggregate value of $8 million in shares of the Company's common stock at a price equal to 80% of the lowest daily volume-weighted average price for the five days immediately following the date the Company delivers notice requiring the investor to purchase the shares under the SEDA. Additionally, the Company applied for, and in April 2020 received, a loan of $155,226 under the government Small Business Administration ("SBA") sponsored Payroll Protection Program ("PPP") to support continuing employment during the COVID-19 pandemic.
Net Loss: Net loss for the three months ended June 30, 2020, decreased to $(428,985), or $(0.01) per share, compared to a net loss of $(621,049), or $(0.01) per share, for the comparable three months ended June 30, 2019.
Operational Highlights
*KULR was awarded a patent on its Fiber Thermal Interface (FTI), a NASA-grade high-performance thermally conductive carbon fiber material developed for a variety of different applications, including the space, automotive and electronics.
*KULR was also awarded a patent on its Thermal Runaway Shield, which reduces hazardous risks associated with thermal runaway in lithium-ion battery packs.
*The Company partnered with Silicon Valley-based Drako Motors to use FTI for the thermal management system of Drako GTE, a new ultra high-performance electric supercar.
*Dave Harden, former Chief of Strategic Prioritization at the Pentagon, joined KULR's advisory board.
*Signed an agreement with Volta Energy Products to provide passive propagation resistant (PPR) technology for implementation in stationary energy storage modules from the grid.
*Launched a PPR battery design solution for space applications, including both trigger and production cells, for lithium-ion battery testing and safety.
*Its innovative carbon fiber thermal management solution was used on the Mars 2020 Perseverance Rover SHERLOC instrument.
*Partnered with Hazmat Safety Consulting to work with industry and regulatory leaders on PPR battery safety technology due to increased focus and concern on improving public safety from battery fires.
*Announced licensing agreement with Americase for use of KULR's PPR technology and supply of core materials for Americase's patent-pending battery bag.
"We are well positioned to grow in 2020 despite the current economic climate," said Mo. "Today, we are engaged in contracts with strategic customers including NASA, Department of Transportation, U.S. Air Force, and other government agencies in projects that are critical to national interest and which have a high degree of funding commitments that do not otherwise exist in today's isolated business marketplace. During the last three months we have gained significant awareness of our activities and the value our advanced carbon fiber cooling solutions bring to the E-mobility and energy storage industries. We will continue this momentum going forward to create value for our shareholders."
The Company has filed its Form 10-Q reporting its results for the three months and six months ended June 30, 2020.
The Company has scheduled a shareholder update call for 4:30 PM EDT on Tuesday, August 18th, 2020.
To access the call:
Dial-In Number: 1-857-232-0157
Access Code: 422095
Michael Mo, KULR's CEO, will answer questions and provide a business update for the Company. He stated, "I am excited to have the opportunity to engage with our shareholders and look forward to receiving their questions as well as share our recent accomplishments and progress moving forward in 2020."
Interested parties may submit questions concerning the Company prior to the call to Stuart Smith at SmallCapVoice.Com, Inc. via email: ssmith@smallcapvoice.com by 12:00 PM EDT on Monday, August 17th, 2020. Mr. Smith will compile a list of questions and submit them to the Company prior to the conference call. Which questions will be addressed will be based on the relevance to the shareholder base, and the question's appropriateness in light of public disclosure rules.
For those unable to participate in the live conference call, a replay will be available at https://www.smallcapvoice.com/kulr/ shortly after the call has concluded. An archived version of the webcast will also be available at https://kulrtechnology.com/category/presentations/
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
About SmallCapVoice.com, Inc.
SmallCapVoice.com, Inc. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies, small cap and micro-cap stocks build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, podcasts, as well as its clients' financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks in which they are interested. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC Markets. To learn more about SmallCapVoice.com and its services, please visit https://www.smallcapvoice.com/small-cap-stock-otc-investor-relations-financial-public-relations/.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://www.morningstar.com/news/accesswire/601834msn/kulr-technology-group-inc-reports-second-quarter-results-and-announces-shareholder-update-call
I have no idea what will happen after the earnings announcement SF.
I think 80 cent is a great entry price. Keep in mind with the lack of volume and I believe selling pressure induced by short sellers, there's bound to be bouts of volatility and wild price swings. I would play this long-term removing market noise out of the equation. Give it time to let the Company fundamentals prevail. In the end, however, it's up to you.
End of this week or early next week.
This article posted yesterday at the EE Power website (www.eepower.com). It more or less reiterates the press release that KULR Technology (OTCQB: KULR) made recently regarding it's partnership engagement with Drako Motors. The author of this article notes that the Drako partnership provides KULR with a well publicized entry into the EV space. Additionally, in an older Company presentation from July 2019, the Appendix shows the Company had a developmental partnership with a global automaker for battery pack development. I know that designing into next-generation EVs can take several years or more and there are no guarantees, but it would be a game changer if KULR is able to convert on a contract with a major automaker. Drako is great and validates KULR's technologies, but a globally recognized automaker would be amazing.
KULR Technology to Expand into the Luxury EV Space
one day ago by Shannon Cuthrell
KULR’s thermal interface material will be added to Drako Motors’ all-electric luxury supercar.
Drako Motors’ new GTE supercar will be equipped with carbon fiber thermal interface material developed by KULR Technology Group, a San Diego-based supplier of thermal management technologies used in NASA space missions.
KULR Technology to Expand into the Luxury EV Space Fig2
The Drako GTE is an all-electric quad-motor luxury sportscar. (Image courtesy of Drako Motors)
The company’s power management technology recently made headlines for its use in NASA’s Mars 2020 Rover Mission, launching in late-July. Since its founding in 2013, KULR has established a footprint in the space market with more than 30 contracts with NASA. Its lithium-ion battery storage products have also been used in the International Space Station.
KULR is now working to expand its target market beyond space applications. In an investor presentation in June, the company said that today it is working towards “commercializing our space-qualified electronics and battery cooling technologies across a diverse array of mass-market consumer-facing applications.”
In addition to aerospace and defense, KULR’s other target areas include high-demand markets such as battery safety and testing, electric mobility, utility-level energy storage, 5G, cloud computing, consumer devices, and shipping and logistics.
The new Drako Motors partnership allows KULR a well-publicized entry into the EV space. Competing with the likes of Tesla’s Model S P100D, Drako’s four-motor, 1,200-horsepower electric sports car is capable of reaching a top speed of 206 mph, with a battery designed to output 1,800 continuous amps and 2,200 peak amps. The Drako GTE is currently priced at $1.25 million.
In announcing the partnership on July 23, KULR Technology Group CEO Michael Mo wrote that the move allows the company to demonstrate “a reference design platform for the highest performance EV supercar in the world.”
Shiv Sikand, co-founder and executive vice president of Drako Motors, also stated in the announcement that the battery cooling technology used in NASA’s most demanding applications “enables us to safely push the limits of electric vehicle performance on both road and track.”
Source: https://eepower.com/news/kulr-technology-to-expand-into-the-luxury-ev-space/
The following are fairly recent excerpts about fines imposed by the SEC on short sellers and an article about Citadel (CDEL) being fined for front-running trades. The OTC space can be a dirty beast.
9/16/19: Vandham Securities: https://www.sec.gov/litigation/admin/2019/34-86970.pdf
“Vandham routinely executed a series of short sales throughout the day for its own account in the stocks being sold by the other firms on behalf of their customers, and then later purchased those shares at a lower price from the other firms, also in its own account, to cover Vandham’s short positions, thereby realizing a trading profit on each short sale.”
3/20/20: Wilson-Davis & Co., Inc., et al
https://www.finra.org/sites/default/files/2020-03/Disciplinary_Actions_March_2020.pdf
“The sanctions were based on findings that the firm engaged in short selling in violation of Rule 203(b)(1) of Regulation SHO of the Securities Exchange Act of 1934 (Reg SHO) because it failed to find locates for short transactions effected in low-priced stocks. The findings stated that the short sales were effected to carry out a speculative trading strategy implemented by a former registered representative and did not involve bona fide market making.”
4/24/20: Biltmore International: https://www.sec.gov/litigation/admin/2020/34-88744.pdf
“Biltmore claimed an exception to the locate requirement based on bonafide market making activities when, in fact, it did not meet the requirements for that exception.”
7/20/20: US regulator fines Citadel Securities over trading breach:
https://www.ft.com/content/dc3f8fb5-62e7-4774-98bb-28db801589ee
https://financefeeds.com/finra-fines-citadel-securities-trading-ahead-inactive-otc-customer-orders/
“Market-maker traded ahead of customer over-the-counter orders over 2-year period”
I think with time we'll see earnings growth based on the CEO's comments and recent customer engagements. However, the Company has reported that lumpiness in revenues is to be expected until they can secure more consistent volume customers. Although much progress has been made, we still haven't seen a hugely significant customer acquisition. Such an announcement would be incredible!
Short sellers are market makers who are for the most part profiting intraday. Today, short interest data on 7/31/2020 was made available at https://otce.finra.org/otce/equityShortInterest. The short interest on KULR as of this date was 14,550 shares. However, intraday market makers are potentially short many tens of thousands of shares having an obvious bias towards shorting and creating price ceilings.
They have really done a number on the stock with their short selling antics throughout July and early August having taken advantage of the relative lack of volume. I've also believe there has been a lot of front running on trades on the part of market makers, which is highly illegal. Need to be wary of this before entering into the stock. In the end Company fundamentals shall prevail!
https://www.sec.gov/investor/pubs/regsho.htm
After obtaining more hard data, I"m considering lodging a complaint with the SEC.
Welcome aboard SF.
Agreed! Additionally, KULR needs to show meaningful progress on the product commercialization front. In the last quarterly report the CEO stated "Some of our more mature product development engagements are on track to transition into consistent volume production customers in 2020 and 2021."
In addition to their focus in the energy storage (utility/residential), E-Mobility, and 5G verticals, in the past they've reported Tier 1 company engagements within the medical device and power tool industries. I think an announcement of a big deal with mass market commercialization potential will shake the shorts off and generate significant buying interest.
I will talk to the Company about your suggestion for hiring an additional IR firm(s).
The following daily short volume data was taken from
https://www.otcshortreport.com/company/KULR
Note that “short volume” measures the number of shares that have been shorted over a given period of time (in this case daily). This differs from “short interest” (or naked short) which represents the number of shorted shares that have yet to be closed out or covered. I am still looking for a good resource on daily short interest data.
Date Volume ,Short Volume, % of Vol Shorted
Aug 06 60,779, 21,372, 35.16
Aug 05 121,798, 35,889, 29.47
Aug 04 24,356, 9,117, 37.43
Aug 03 125,110, 77,198, 61.70
Jul 31 99,214, 25,787, 25.99
Jul 30 249,965, 104,022, 41.61
Jul 29 93,276, 55,660 59.67
Jul 28 118,019, 57,823, 48.99
Jul 27 116,296, 54,443, 46.81
Jul 24 146,687, 67,750, 46.19
Jul 23 316,570, 183,912, 58.10
Jul 22 164,874, 70,645, 42.85
Jul 21 76,738, 22,855, 29.78
Jul 20 69,483, 51,369, 73.93
Jul 17 75,011, 54,203, 72.26
Jul 16 47,085, 20,993, 44.59
Jul 15 40,658, 32,062, 78.86
Jul 14 66,374, 20,289, 30.57
Jul 13 112,537, 66,733, 59.30
Jul 10 131,092, 66,258, 50.54
Jul 09 137,616, 75,792, 55.07
Jul 08 148,339, 70,296, 47.39
This site shows what the short interest (naked short position) based on specific reporting dates: https://otce.finra.org/otce/equityShortInterest
For example, the latest report as of this writing shows on 7/15/20 KULR short interest was 6,614.
KULR Technology Group Announces Issuance of U.S. Patent for Compressible Thermal Interface Material
Wednesday, August 5, 2020 1:15 PM
Issuance of United States Patent Number 10734302 Further Bolsters Intellectual Patent Portfolio
SAN DIEGO, CA / ACCESSWIRE / August 5, 2020 / KULR Technology Group, Inc. (OTCQB:KULR), (the "Company" or "KULR"), announced today that the United States Patent and Trademark Office has awarded it a patent on its Fiber Thermal Interface (FTI) - a highly flexible and compressible high performance thermally conductive carbon fiber material developed for a variety of different applications, including the space, automotive and electronics industries, as well as for industrial applications.
The Company's FTI technology is a carbon fiber solution that is part of KULR's space-proven thermal architecture, offering superior thermal conductivity, ultra-lightweight and flexible mechanical properties designed for space exploration and applications where efficient cooling and size and weight restrictions are paramount. Variations of KULR's FTI technology have been used by NASA on multiple missions including the recent Mars Perseverance Rover mission launched on July 30th. More recently, Silicon Valley based EV manufacturer, Drako Motors, announced it will utilize KULR's proprietary FTI as part of the thermal management system in the Drako GTE, a quad motor 1,200 horsepower, 206 mph luxury electric supercar.
"This patent issuance continues to advance our research and development of products helping battery packs run more efficiently," said Dr. Timothy Knowles, co-founder and Chief Technology Officer of KULR. "We are very pleased with the development of our growing patent portfolio. This new issuance expands the breadth and depth of our cost-effective cooling solutions."
In a detailed analyst report by Litchfield Hills Research last month, which report should be read in its entirety, the firm estimated that KULR's technologies have an addressable market of $8 billion. The analyst further expounds: "KULR's high performance thermal interface materials can be used to accelerate 5G communications development due to its material's core properties: high thermal conductivity, light weight, and low contact pressure. 5G is one of the biggest opportunities going forward for transportation technology."
The patent, issued as #10734302, was awarded on August 4th, 2020.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://www.accesswire.com/600417/KULR-Technology-Group-Announces-Issuance-of-US-Patent-for-Compressible-Thermal-Interface-Material
This is an edited re-post about short-selling of KULR stock from 7/30/20 (in response to a question posted on that same day):
The following is my opinion based on price action and daily tracking of the stock over time. I am investigating and looking into validating and quantifying the following statement:
I strongly believe short sellers/market makers (i.e. AEXG) have manipulated and actively shorted KULR stock exploiting opportunities to profit by buying back from weaker hands cutting losses. I don't yet know who's behind this and to what extent (price level) short sellers/market makers will continue this game, but they will get burned.
KULR is working on capturing meaningful market share in multiple verticals (E-Mobility, utility, industrial, and residential level energy storage, 5G, and consumer devices). If and when evidence of this process becomes tangible and market participants/buyers enter in greater numbers, upward price momentum will kill much of the short selling.
Although volume has increased substantially in recent times, KULR is still fairly thinly traded so there is undoubtedly price risk. As previously stated, short selling in this type of price environment has been exploited fueled by weak-handed selling and reticence on the part of buyers. At the end of the day, market makers cannot profit from short selling if retail investors don't sell and buying interest drives prices higher.
I believe as long as you're long-term minded, you'll be fine at these price levels. Company fundamentals will prevail. The bright side of the recent price collapse is that short sellers have created a buying opportunity at more favorable price levels. However, you may need to weather the storm in the short-term. The Company is still in it's early days and I believe we'll see meaningful progress with commercialization translate into substantial, growing revenues streams. Short sellers will be caught with their proverbial "Elon short shorts" down (https://www.cnn.com/2020/07/06/business/tesla-short-shorts/index.html).
Understood. You're referring to the SEDA with Yorkville Advisors. Yes, this is a possibility. That said, the SEDA provides short sellers more confidence to sell short. I don't know that KULR would draw on the SEDA at these levels though. Hope you're right.
Cheers,
Tom
Got it. Thanks. You're referring to the 30,858 shares of Series B preferred stock from Nov. 2018. I respectfully disagree with your opinion.
Hi CC. Where did you get this info? Thanks.
AEXG with false ask size at $1.38. Don't know where short sellers are going to draw the line in the sand to the upside. Wouldn't surprise me if we chop back and forth at these levels until we see needle moving news hit the wire. For the time being, doesn't appear shorts are as eager to pressure stock lower from these levels. Hang tight.
Agreed!
Stock has risen from lows. Short sellers may potentially reload at higher price levels after the run down in price. Look for false or hidden ask sizes that are difficult to penetrate as a sign of potential short selling.
There appears to be an attempt at short covering happening right now. False market maker bid sizes at $1.27 level (OTCX and GTSM). Any selling may simply offset short sellers positions.
No problem. I share the same concerns. Personally, I think KULR will be better off uplisting to the Nasdaq. Hopefully the Company will take measures to do so before long.
Tom
NBC Los Angeles News
This CEO Played a Key Role in Sending the NASA Rover Perseverance to Mars
Michael Mo, the CEO of San Diego-based KULR Technology, dishes on how his company partnered with NASA to play a vital role in the current mission sending the Mars rover Perseverance to the red planet.
https://www.nbclosangeles.com/lx/this-ceo-played-a-key-role-in-sending-the-nasa-rover-perseverance-to-mars/2405023/
The following is my opinion based on price action and the limited information available on short interest. I'm currently looking to obtaining more real time daily short interest information and will get back to you on my findings.
I believe short sellers/market makers (i.e. AEXG) have actively shorted KULR stock exploiting opportunities to profit by buying back from weaker hands cutting losses. I don't know to what extent (price level) short sellers/market makers will continue this game, but I believe they will eventually get burned. KULR is working on capturing meaningful market share in multiple verticals (E-Mobility, utility, industrial, and residential level energy storage, 5G, and consumer devices). If and when evidence of this process becomes tangible and market participants/buyers enter in greater numbers, upward price momentum will kill much of the short selling.
Although volume has increased substantially in recent times, KULR is still fairly thinly traded. Short selling in this type of price environment has been exploited fueled by weak-handed selling and reticence on the part of buyers. At the end of the day, market makers cannot profit from short selling if retail investors don't sell and buying interest drives prices higher.
In my opinion, as long as you're long-term minded, you'll be fine at these price levels. The bright side of the recent price collapse is that short sellers have created a buying opportunity at more favorable price levels. However, you may need to weather the storm in the short-term. The Company is still in it's early days and I believe we'll see meaningful progress with commercialization translate into substantial, growing revenues streams. Short sellers will be caught with their proverbial "Elon short shorts" down (https://www.cnn.com/2020/07/06/business/tesla-short-shorts/index.html).
Patent Covering Risk Minimization of Fires and Explosions in Lithium-Ion Battery Packs
Issuance of United States Patent Number 10727462 Further Bolsters Intellectual Patent Portfolio
SAN DIEGO, July 29, 2020 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR), (the “Company” or “KULR”), announced today that the United States Patent and Trademark Office has awarded it a patent on its Thermal Runaway Shield (TRS) – a passive propagation resistant solution designed and successfully tested to reduce the hazardous risks associated with thermal runaway in lithium-ion battery packs. This is the second patent the Company has been granted on its TRS technology.
The Company’s TRS is a sleeve-like shield that surrounds and separates individual cells in multi-cell packs and contains carbon fiber core and liquid coolant. The unique combination and configuration of the shield passively draws intense heat of cell failures away from nearby cells while dousing the failed area in a cooling and fire-prevention liquid. The TRS product is used by NASA to transport to and store batteries aboard the International Space Station.
“Securing this patent is a substantial leap forward in our research and development of products that make batteries safer,” said Dr. Timothy Knowles, co-founder and Chief Technology Officer of KULR. “We are very pleased with the development of our patent portfolio. This new issuance expands the breadth and depth of our battery safety technology covering catastrophic battery failures.”
In a comprehensive analyst report by Litchfield Hills Research last month, the firm estimated that KULR technology has an addressable market of $8 billion. The analyst further expounds: “Both the growth of electric-motor based transportation and demand for increased safety of lithium-ion batteries are key drivers for KULR,” continuing, “KULR has what we believe to be better and lighter materials for thermal management.”
“Battery safety is a global concern across many large and rapidly growing markets such as electric vehicles, battery storage, 5G infrastructure, and space exploration.” said Michael Mo, CEO of KULR. “We continue to work with government agencies, regulators and commercial customers across the world to deploy our technology.”
The patent, issued as #10727462, was awarded on July 28th, 2020.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://www.globenewswire.com/news-release/2020/07/29/2069558/0/en/KULR-Technology-Group-Announces-Issuance-of-U-S-Patent-Covering-Risk-Minimization-of-Fires-and-Explosions-in-Lithium-Ion-Battery-Packs.html
KULR Technology Group CEO To Be A Guest on CNN First Move with Julia Chatterley
SAN DIEGO, July 28, 2020 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc (the “Company” or “KULR”) CEO, Michael Mo, has been invited to join CNN First Move with Julia Chatterley as an interview guest on Thursday, July 30th, 2020 at approximately 9:20am Eastern Time. The interview will coincide with the launch of NASA’s Mars Perseverance Rover, set for earlier Thursday.
KULR’s phase change material (PCM) solution is used on the Rover’s SHERLOC (Scanning Habitable Environment with Raman & Luminescence for Organics & Chemicals) instrument. The interview may touch upon the Company’s recent announcements of EV Supercar battery thermal management solution and space-proven battery safety design for the energy storage market.
Mr. Mo was previously a guest on CNN First Move in October, 2019, to discuss KULR’s battery storage solution for lithium-Ion laptop batteries on the International Space Station. A copy of the upcoming interview will be posted to the KULR Technology Group website.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: globenewswire.com