Cymat Technologies Ltd. (OTC:CYMHF) Stock On Watchlist After Latest Commercial Order
The news about the first commercial order for a company’s product is almost always seen as positive and leads to more interest from investors. Hence, this morning it could be a good move to take a look into Cymat Technologies Ltd. (OTC:CYMHF). On April 3, the company entered the news cycle after it announced that it had bagged the first commercial order from Cymat Technologies’ customer Nobel Sport for its SmartMetal Stabilized Aluminum Foam (SAF) cylinders.
The product is meant for non-lethal bullets. In this regard, it should be noted that Nobel Sport is a France-based company involved in the law enforcement specialty manufacturing space and offers a variety of ammunition as well as ancillary products for law enforcement, sports, and military clients. The first order had been placed on behalf of the French Armed Forces. Nobel Sports placed the order for 21,000 cylinders, and the total contract value was $200,000, the company noted in its news release.
On November 29, 2019, Cymat Technologies sent out a press release in which it announced that the French Armed Forces had certified the utilization of non-lethal bullets, which deployed the company’s SmartMetal. Thorough testing of the bullets showed that they were safer, far more accurate, and less harmful when compared to the current competing products on the market.
Non-lethal bullets are generally used in order to manage and control crowds. These bullets also act as deterrents in those situations in which it is decided that the best course of action would be to use non-lethal force. Traditionally, rubber bullets have been used in these situations; however, over the years, the use of those bullets has also led to serious injuries, fatalities, and physical harm. It could be a good time for investors to keep an eye on Cymat stock today.
