u/DrWu20

My sense is the buying stemmed (at least initially) from the Navy Leaders conference. Kraken got alot of visibility - both on the floor with demos and in several speaking engagements.

This is a monster of a conference with ~7000 attendees spanning three days. So, some of the buying prob came from attendees at the conference liking what they saw and heard (including new orders chatter - this is real). Investors are also getting repositioned in time for:

• May 27 earnings - prob with some update on Katfish/Sea Power/SAS orders
• The Covelya closure target June 30
• Updated combined co guidance when Covelya closes
• Significant combined co order momentum in the second half (this is when the stock really starts moving)
• Related to that, the Anduril U.S. Navy CAMP contract for UUAVs is expected soon - $$$
• News on TSX uplisting which is also expected in the second half
• Anduril news has been pretty positive lately. Lots of new order momentum. Also a few huge privates announced public listings soon (SpaceX, Open AI). Expect same from Anduril in time, which will highlight our strong relationship
• Hang on fellow Krakheads - the next six months are going to be fun as the fundamental story strengthens...

Largest marine and naval conference/2200 attendees/80 nations/220 exhibitors. Prime time for signing additional contracts. Kraken likes to sign and announce contracts at major exhibitions - latest was the March 17 announcement at Oceanology for Katfish, SeaPower and SAS across mutiple clients including the Polish Navy. By the way, so does Covelya!

1. Q1 Earnings (May 28) - keep in mind smallest quarter of the year. Revenue grows in future quarters

2. AGM (June 24) - further management commentaries. Virtual meeting.

3. Covelya Closure (by June 30).

4. Updated Guidance (in conjunction with Covelya closure)

5. U.S. Navy CAMP contract details for Anduril, Boeing, etc - all have Kraken/Covelya products (granted on March 12th) - expect more details within 4 months of Dive XL demonstration). Likely very material contract award.

6. Further announcements of Kraken and Anduril global contract wins (again material size - keep an eye on this)

7. TSX Uplisting (expected by Q4)