Los Angeles, CA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Los Angeles, CA, December 15, 2020 (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC., (OTC MARKETS: KNOS) ("KNOS" or the "Company"), a revenue-generating, product development and production company that has significantly changed the way air is moved, filtered and sterilized announced today that the Company applied for a tier upgrade to the OTCQB® Venture Markets.
OTCQB® Venture Market is operated by the OTC Markets Group, Inc. and is designed for early-stage and developing U.S. and international companies, offering companies the opportunity to build visibility, expand liquidity and diversify their shareholder base. To be eligible for quotation on the OTCQB®, companies must meet certain SEC or alternative reporting requirements, maintain annual financials audited by a PCAOB qualified accountant, post initial and annual verifications and management certifications. Companies must also meet a minimum bid price test and other conditions. The OTCQB® is recognized by the Securities and Exchange Commission (SEC) as an "established public market" for determining the public market price, allowing broker-dealers and their customers to more easily trade stocks and invest in a variety of OTCQB traded companies.
"Uplisting to the OTCQB® Venture Market will provide us with greater recognition amongst the investment community as well as our shareholders as we continue to execute on our business plan and reach expansion milestones," said Michael Rubinov, President of Kronos. "A listing on the OTCQB® Venture Market significantly broadens the exposure to potential investors. Historically, companies that have uplisted to the OTCQB® tier have experienced increased investor awareness and visibility of their common stock as well as an increase in shareholder value. Kronos' management is also in the process of preparing an S-1 registration statement in order to become an SEC reporting public Company allowing us to increase transparency and improve credibility with shareholders more greatly. This way, Kronos will further increase (beyond OTCQB) its exposure to institutional investors and attract further direct investment through the open markets and therefore meet another important (beyond audits) qualification for uplisting to a more prestigious exchange when certain additional hallmarks are met."
About Kronos Advanced Technologies, Inc.
The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed the way air is moved, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company's proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half of a 60-watt light bulb. Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled-down for air purification in cars or scaled-up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types -to move, sterilize and filter air, including removing allergens down to 14.6 nanometers, passing through our patented technology -replacing expensive outdated passive HEPA and other filtration type systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and the cabins of automobiles and commercial aircraft.
Recently, the Company filed for a provisional patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company's CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Company offices are located in Los Angeles, California.
Shopping portal: https://www.1800safeair.com
Follow KNOS on Twitter: https://twitter.com/kronosati
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Contact us via info@kronosati.co or visit https://www.kronosati.co or https://www.1800SAFEAIR.com
Forward-looking statements:
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products.
The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
Phone inquiries: 1-800-SAFE-AIR (option #4)
