As families and friends gather to celebrate Thanksgiving this year, remember to exercise caution when cooking because Thanksgiving is the most dangerous day for cooking fires, followed by the day before Thanksgiving, Christmas and Easter, according to the National Fire Protection Association (NFPA). While cooking fire is always a risk, it is especially so during the holidays.
Cooking equipment, reported the NFPA, "was involved in almost half of reported home fires and home fire injuries." Cooking fire is the leading cause of household fire across North America. It is the leading cause of fire injuries and results in more than $1 billion in direct property damage each year.
Pioneering Technology Corp. (PTE:TSX.V) is working to solve the issue of cooking fires. It owns disruptive technology and products that are designed to help stop cooking fires from happening in the first place. Since 2008, its patented temperature limiting control technology has been installed in more than 250,000 households across North America without a single cooking fire being reported. From 2013 through 2016, Pioneering Technology has had a compound annual growth rate of 69%.
Pioneering Technology's SmartBurner already meets a new UL 858 standard for cooking fire prevention that will become mandatory for all electric stoves in April 2019.
In October, Pioneering announced the completion of largest purchase to date, for about 20,000 four-burner SmartBurner kits from one of North America's largest suite-hotel companies. The company stated that this hotel chain has now "ordered and installed SmartBurner in approximately 74,000 hotel rooms in more than 600 of its hotel properties."
Analyst Russell Stanley with Echelon Wealth Partners, in an Oct. 4 report, stated that the firm continues "to view PTE as an undervalued, underfollowed play on new safety requirements that should drive strong demand growth for the company's cooking fire prevention products."
"Echelon has a Speculative Buy recommendation on Pioneering and a 12-month target price of $1.60 per share. The stock is currently trading at $0.71."
He views the completion of the hotel order "positively as it reflects strong follow on demand from the hotel chain market. . .This market segment (hotel/motel chains and corporate housing with fully-equipped kitchens) represents an attractive market opportunity for Pioneering, and we expect the Company to pursue additional customers in this space."
Echelon has a Speculative Buy recommendation on Pioneering and a 12-month target price of $1.60 per share. The stock is currently trading at $0.71.
Nick Hodge, writing on Oct. 5 in Early Advantage, noted that "revenue for 2017 is on a C$10 million run rate. So far this year sales are 71% higher than at the same point in 2016."
Hodge explained that "less than 1% of the existing electric coil stoves in North America have been retrofitted. So many orders are still to come, in my opinion. Equally as exciting are the new UL stove standards that go into effect in April 2019. To pass, a pot of oil is placed on the stove and the burner turned to high. If the oil ignites within 30 minutes, the stove fails. If it doesn't catch fire, the stove passes. Pioneering remains the only company that can pass this test."
"The stock 'is a buy under $1.10.' – Nick Hodge"
"April 2019 is right around the corner," Hodge noted. If the major appliance manufacturers "want to meet the new standard in time, they are going to have to act soon. Pioneering's technology being incorporated into new stoves on the factory floor becomes likelier and likelier with each passing day." Hodge wrote that the stock "is a buy under $1.10."
Technical analyst Clive Maund of CliveMaund.com noted in May that Pioneering has "developed a unique technology around cooking implements and equipment that prevents kitchen fires, the biggest cause of home fires, and thus promises to save insurance companies billions of dollars. This technology is in its way as revolutionary as catalytic converters were for the auto industry many years ago, which at a stroke largely eliminated the smog problem in Los Angeles and other big cities, and there is a good chance that the government will mandate the use of the company's products—if that happens this stock will go ballistic."
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Disclosures from Echelon Wealth Partners, Pioneering Technology Corp., Oct. 4, 2017
Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.
ANALYST CERTIFICATION: Company: Pioneering Technology Corp. | PTE: TSXV
I, Russell Stanley, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.
Is this an issuer related or industry related publication? Issuer.
Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? No
Does the Analyst or household member serve as a Director or Officer or Advisory Board Member of the issuer? No
Does Echelon Wealth Partners Inc. or the Analyst have any actual material conflicts of interest with the issuer? No
Does Echelon Wealth Partners Inc. and/or one or more entities affiliated with Echelon Wealth Partners Inc. beneficially own common shares (or any other class of common equity securities) of this issuer which constitutes more than 1% of the presently issued and outstanding shares of the issuer? No
During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes
During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes
Has the Analyst had an onsite visit with the Issuer within the last 12 months? No
Has the Analyst been compensated for travel expenses incurred as a result of an onsite visit with the Issuer within the last 12 months? No
Has the Analyst received any compensation from the subject company in the past 12 months? No
Is Echelon Wealth Partners Inc. a market maker in the issuer’s securities at the date of this report? No
This research report was prepared by Echelon Wealth Partners Inc., a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. This report does not constitute an offer to sell or the solicitation of an offer to buy any of the securities discussed herein. Echelon Wealth Partners Inc. is not registered as a broker-dealer in the United States. The firm that prepared this report may not be subject to U.S. rules regarding the preparation of research reports and the independence of research analysts.
Disclosures from Nick Hodge, Early Advantage, Oct. 5, 2017
Nick Hodge owns shares of Pioneering Technology. He is not paid by the company nor is it a sponsor or advertiser.
Disclosures from Clive Maund, Clive Maund.com, May 22, 2017
Clive Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. Mr. Maund does not own securities of Pioneering Technology.