KRONOS ADVANCED TECHNOLOGIES RELEASES 2-YEARS OF AUDITED FINANCIALS AS A MAJOR STEP TOWARDS UPLISTING
Los Angeles, CA, Nov. 30, 2020 (GLOBE NEWSWIRE) — Los Angeles, CA, November, 30, 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 is pleased to announce that its PCAOB Auditors, Weinstein International CPA, have completed and signed off on the audit of its financial statements for fiscal years ending 2019 and 2020.
These audited statements for 2019 and 2020 have been posted on the OTC Markets website. This is a significant step towards qualifying for the OTCQB or a higher market once other benchmarks have been met. The uplisting would require approval by OTC Markets should management take this step before meeting and seeking higher listing standards on more prestigious exchanges.
In February of 2020, the Company developed its Pandemic and Post-COVID Corporate Strategy for 2020-21. One of the key milestones outlined in this strategy was to conduct an independent audit of its financial statements to provide investors and shareholders with increased transparency and confidence. This initial milestone having been satisfied, KNOS will accelerate our remaining milestones to expand operations while increasing revenues in order to grow shareholder value substantially.
“The receipt of a clean Independent PCAOB audit is one of the most significant accomplishments for 2020. This milestone will provide invaluable access to capital and enable the Company to leverage our strategic visions and prior investments to gain market share exponentially. We now will be positioned to reward our investors and show the market we can deliver,” said Joseph Florence, COO of Kronos.
Consistent with the 2020-2021 Corporate Strategy, the Company is moving forward to complete the acquisition of a privately held manufacturing facility that is currently under contract. It is the intent to complete this acquisition by the end of the calendar year 2020. This facility includes 85,000 square feet located on a 9 acres campus in West Virginia. It is currently owned and used by our COO and his partners for product design and R&D, resulting in several near-ready for manufacture products that will become part of the KNOS product line. The acquisition and exploitation of this manufacturing facility is the first step in our “Transition To America” Initiative and is projected to add tens of millions of dollars in annual revenues. Perhaps more important, this acquisition will be the cornerstone of the new Kronos Brand of USA-made Products, intended to provide security and comfort to our customers in not only today’s turbulent times but in the Post-COVID future as well.
“Now that we have completed the audits as a step to become a fully reporting company, both investors and shareholders are invited to witness the Company’s projected expansion moving forward,” said Michael Rubinov, Director and Business Development Officer. “The Company foresees exponential growth post-acquisition, and shareholders can expect to hear about significant contracts with large enterprise customers regularly.”
KNOS continues to make significant progress in expanding its core business beyond air purification solutions for homes, cars, individuals, and businesses while adding new product lines and technologies such as IAQ (Indoor Air Quality) monitor soon to be released to the public.
Kronos will continue to keep its shareholders informed at each critical stage of progress.
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About Kronos Advanced Technologies, Inc.
Kronos Advanced Technologies, Inc. began operations in 2002 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
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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)