Kulr Technology (otc: Kutg)

Discussion in 'Penny Stocks' started by supernova23, Jul 20, 2018.

  1. supernova23

    supernova23 Active Member

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  2. supernova23

    supernova23 Active Member

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    KULR Technology Partners With Lockheed Martin to Provide Thermal Management Solutions
    CAMPBELL, Calif., May 14, 2019 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KUTG), (the “Company” or “KULR”), today announced it will provide its space-developed thermal technology for a purpose-built phase change (PCM) heat sink to leading aerospace and defense company Lockheed Martin (NYSE: LMT).

    The PCM developed by KULR delivers concentrated heat capacity from phase change, utilizing the company’s proprietary carbon fiber core to provide tailored thermal conductivity and proven durability in a light-weight package. The PCM device may serve as a structural element in the system and either absorb or release heat according to the application. This fully passive device offers a cost-effective alternative to more complex cooling methodologies.

    Details on how Lockheed Martin will use the customized PCM heat sinks was not disclosed, nor were specific terms of the agreement. Company leaders did highlight the importance of their partnership in developing and using the best thermal management technologies for crucial aerospace, defense and other systems.

    “In nearly every advanced technology, heat is a killer. And the more advanced, the more precise something has to be, the more important it is to isolate and redirect heat away from the source – and that’s what we do,” said Michael Mo, CEO of KULR. “We are very proud to be working with Lockheed Martin to design and deliver thermal management solutions to their demanding specifications – solutions that allow Lockheed Martin to meet and exceed the needs of their customers,” he said.

    KULR’s PCM solutions are expected to be delivered through 2019.

    About KULR Technology Group, Inc.

    KULR Technology Group, Inc., through its wholly-owned subsidiary KULR Technology Corporation ("KULR"), develops and commercializes high-performance space-used thermal management technologies for electronics, batteries, and other components across an array of applications such as electric vehicles and autonomous driving (collectively as E-Mobility), AI/Cloud computing, energy storage, and 5G communication technologies. KULR's proprietary, core technology is a carbon fiber material with roots in aerospace and defense that provides superior thermal conductivity and heat dissipation in an ultra-lightweight and pliable material. By leveraging this break-through cooling solution and its longstanding development partnerships with NASA, the Jet Propulsion Lab and others, KULR makes E-Mobility and other products safer and cooler. https://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 parent entity’s Form 10-K filed on April 17, 2018. 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. 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: http://www.globenewswire.com/news-r...-to-Provide-Thermal-Management-Solutions.html
     
  3. supernova23

    supernova23 Active Member

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    KUTG 10-Q (Q1 2019) is out:

    https://www.sec.gov/Archives/edgar/data/1662684/000114420419026023/tv520650_10q.htm

    For 3 months ended March 31, 2019 KUTG generated $194,952 in revenue for a gross profit of $133,435 (Gross margin: 68%). Total Operating Expenses of $698,683 or loss from operations of $565,248.

    Some Key Takeaways from 10-Q:

    1) By leveraging our proprietary cooling solutions and that have been developed through longstanding partnerships with NASA, the Jet Propulsion Lab and others, our products and services make E-Mobility products and other products safer and more stable. Our management believes that the E-Mobility industry has created and will create significant new opportunities for the application of our technology and know-how.

    2) After strenuous testing, we believe we have developed heat management solutions that significantly improve upon traditional heat storage and dissipation solutions and that improve upon their rigidity and durability. We also believe that the traditional solutions are not equipped to handle the evolving marketplace. However, through a combination of custom design services and provision of proprietary hardware solutions, our products reduce manufacturing complexity and provide a lighter weight solution than traditional thermal management materials and, we believe, can meet the heat management demands of components and batteries being designed into the newest mobile technologies and applications.

    3) Our customers and prospective customers are large organizations with multiple levels of management, controls/procedures, and contract evaluation/authorization. Furthermore, our solutions are new and do not necessarily fit into pre-existing patterns of purchase commitment. Accordingly, the business activity cycle between expression of initial customer interest to shipping, acceptance and billing can be lengthy, unpredictable and lumpy, which can influence the timing, consistency and reporting of sales growth.
     

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