Kontrol Technologies Corp. a leader in smart buildings and cities through IoT, Cloud and SaaS technology is providing an update to its previously announced financial covenants breach as at September 30, 2022 (see press release dated November 14, 2022). The Company is in discussions with the relevant financial institution to request a waiver with respect to the breached covenants.
“The business of Kontrol continues to deliver energy savings, emission monitoring and reduction, HVAC integration and indoor air quality solutions to our blue-chip customer base. We are focused on getting through this challenging period and are firmly committed to the long-term success of the Company.”
“We are working closely with our lender and reviewing a number of potential solutions,” says Paul Ghezzi, CEO of Kontrol Technologies. “The business of Kontrol continues to deliver energy savings, emission monitoring and reduction, HVAC integration and indoor air quality solutions to our blue-chip customer base. We are focused on getting through this challenging period and are firmly committed to the long-term success of the Company.”
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Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
SOURCE: Business Wire