PIONEERING TECH ANNOUNCES APPROVAL OF ITS MICROWAVE FIRE PREVENTION DEVICES
This is by far the best news issued by Pioneering Tech since its existence. This already profitable small cap will now offer fire prevention devices for microwaves, which can be offered immediately within its impressive channel established for its cook top range fire prevention devices.
Their current customers are universities, the military, senior's facilities and medical centres across North America. But not everybody has a spiral cook top range, because many people/organizations have ceramic top or gas burners. BUT ALMOST EVERYBODY ON THE PLANET HAS A MICROWAVE, and just imagine if Condos and apartment buildings impose a request on their tenants to install such devices to reduce the risks, or if insurance companies request it or offer rebate to those who install them, much like anti-theft devices on cars.
The potential for this application is significant to say the least, and the company should eventually benefit from the exposure.
This company originally had Scott Paterson as a principal shareholder, the former Chairman of the Canadian Venture Stock Exchange and former Vice Chairman of the TSX. Needless to say, Mr. Paterson is probably salivating right now...
Here are important extracts of the press release:
" Safe-T-sensor for Microwave Ovens in High Demand - First Production Order Sold-Out "
"...To date, orders are coming from universities, the military, senior's facilities and medical centers across North America."
" ...The product is a natural line extension to Pioneering's Safe-T-element cooking system engineered to prevent electric stove top cooking fires. Safe-T-sensor will be packaged and sold as an accessory item and will also be made available to large retail channels (wherever microwave ovens are sold) later this year. Management anticipates that the Safe-T-sensor will deliver significant contribution to the Company's bottom line going forward. "
"According to the Association of Home Appliance Manufacturers (AHAM), there are 90 million households in the U.S. with microwaves and the number of households that own more than one unit is growing. In addition, microwave ovens are present in college dorms, offices, hospitals, senior's facilities, restaurants, convenience stores and more. Approximately 14 million new microwaves are sold each year representing a $1.4 billion market annually. According to the National Fire Protection Association (NFPA), microwave ovens are involved in 2,100 home structure fires per year and are responsible for more emergency room injury visits than any other cooking device. "
The full press release is below:
http://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DV%2EPTE%26newsid%3D7828961 The above is simply my personal understanding and not to be construed as investment advice. I’m not a broker, promoter, director, manager or employee of the aforementioned company, just a shareholder. Do your own due diligence. Typos could have occurred.
