KULR Technology Group, Inc. (OTCQB:KULR) shareholder update call for 4:30 PM EDT from Tuesday, November 17th, 2020. Michael Mo, KULR’s CEO, answers questions and provide a business update for the Company.

Third Quarter 2020 Financial Highlights: Third Quarter 2020 vs. Second Quarter 2020

Raised $2,300,000 of gross proceeds from issuance of notes payable, net of commitment fees, of which $375,000 was subsequently repaid;

Raised $1,395,000 of gross proceeds from the issuance of common stock;

Increased cash balance by over $2 million to $2,809,656 at September 30,2020 from $767,906 at June 30, 2020;

Increased shareholder equity by $417,779 since June 30, 2020; and

Revenues of $136,849 declined from $201,128 in the previous quarter as a result of supply chain delays in sourcing and delivering materials.

Third Quarter 2020 and Recent Operational Highlights

Partnered with a global electronics and battery manufacturer to build Internal Short Circuit (ISC) battery testing technology and to license KULR’s thermal runaway shield (TRS) technology to the partner in a commercial phase.

Provided the Federal Aviation Administration (FAA) with ISC technology to evaluate passenger lithium-ion battery malfunctions that can cause fire and smoke incidents aboard aircrafts.

Partnered with Airbus Defense and Space for use of KULR’s passive propagation resistant (PPR) solutions for research into lithium-ion battery safety and testing in flight applications.

Awarded contract to supply NASA with fireproof storage solutions for the Microsoft Surface Pro 5 hybrid notebook computers used aboard the International Space Station.

Signed a dual-use technology development agreement with NASA’s Marshall Space Flight Center (MSFC) to build 3D-printed battery systems for manned and robotic space applications.

Awarded two patents by the U.S. Patent and Trademark Office:

Patent no. 10727462 for the Company’s TRS technology, which reduces hazardous risks associated with thermal runaway in lithium-ion battery packs

Patent no. 10734302 for the Company’s fiber thermal interface (FTI) technology, a NASA-grade high-performance thermally conductive carbon fiber material developed for a variety of applications, including space, automotive and electronics

Partnered with Silicon Valley-based Drako Motors to use FTI fiber cooling technology for the Drako GTE, a new ultra-high-performance electric supercar.

Former Chief of Strategic Prioritization at the Pentagon, Dave Harden, joined KULR’s advisory board

Signed an agreement with Volta Energy Products to provide passive propagation resistant (PPR) technology for implementation in stationary energy storage modules from the grid.

Active participation in setting industry safety standards, with increasing involvement and collaboration with regulators and industry trade groups.

Participation in U.N. Working Group on lithium-ion classification

Partnership with Hazmat Safety Consulting

Membership with Outdoor Power Equipment Institute

Financial Results: Third Quarter 2020 vs. Third Quarter 2019

Revenues: KULR generated revenues of $136,849 in the third quarter ended September 30, 2020, a decrease of 74% compared with revenues of $526,722 reported in the year-ago period. The decrease in revenue was mainly due to a large DOD contract of about $355,000 received during the three months ended September 30, 2019. The customer has pushed the next shipment of product to 2021.

In spite of the reduction in sales this quarter, we are pleased to have new customers and partners such as Airbus, Drako Motors and Volta Energy, which we expect to contribute revenue by 2021. These additions reflect management’s commitment to build new customer relationships through a growing pool of referrals and business development leads.