KRONOS ADVANCED TECHNOLOGIES INC ANNOUNCES THE FISCAL YEAR 2021 AUDITED FINANCIAL RESULTS; QUALIFIES AS PENNY STOCK EXEMPT
Kronos Advanced Technologies (KNOS) reported a remarkable financial year ending June 30, 2021, with total revenue soaring over 1200% to $504,000 and gross profit climbing 660%. The company's net tangible assets increased to $3,159,453, solidifying its position as a Penny Stock Exempt entity on OTC Markets. CEO Michael Rubinov highlighted successful strategic execution aimed at profitability and enhancing shareholder value. Kronos continues to innovate in air purification technology, emphasizing high efficiency and low maintenance costs across its product range.
- Revenue increased by 1200% to $504,000.
- Gross profit rose by 660% year-over-year.
- Net tangible assets reached $3,159,453.
- Qualified as Penny Stock Exempt, improving stock status.
- None.
Parkersburg, WV, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Parkersburg, WV (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) ("KNOS" or the "Company") innovation-driven product development and production company that has significantly changed the way air is moved, filtered, and sterilized announced today its audited financial results for the full fiscal year ended June 30, 2021.
Year over year, total revenue increased more than
Gross profit increased by
Company assets increased to
KNOS now qualifies to be recognized as "Penny Stock Exempt" on the OTC Markets in accordance with rules defined by the Securities and Exchange Commission ("SEC"). Specifically, according to OTCmarkets.com, Penny Stock Exempt status means that KNOS stock is now exempt from the limitations that accompany any security defined as a "Penny Stock" according to the SEC under Rule 240.3a51-1 because it meets the third of three recognized, qualifying tests: that the issuer has Net Tangible Assets in excess of
Mr. Michael Rubinov, Kronos CEO and President commented, "KNOS completed a challenging year with positive full-year financial results that exceeded our expectations. I am proud of our management team's ability to execute strategies for an upcoming profitable year upon completing our business transition in 2021. We will continue to leverage our electronic manufacturing facility and IP platforms with the goal of developing a robust pipeline for innovative air purification products. The entire KNOS team is focused on the planning and delivery of the Company's strategic growth plan with the goal of significantly increasing shareholder value."
Kronos is supporting the global public health community's work to keep people safe and informed during the coronavirus public health crisis and beyond. We are working to address the long-term impacts by supporting industries in need and making it easier for people to find and offer help in their communities.
Kronos sells the world's most efficacious, patented air purifiers that are also much quieter compared to HEPA air purifiers. The noise level ranges from 22dB (sleep mode) to 57dB (turbo mode) and averages at 34dB, which is half of traditional air purification systems while far more effective. This is as quiet as a soft hum which only increases substantially when the unit detects, neutralizes, and purifies the air of pollutants, smoke, odors, gases, viruses, mold, and allergens that should be removed from the atmosphere.
We also offer a personal air purifier for outdoor activity -FIT AIR that is wearable on your arm.
Kronos products for safer indoor air quality include Model 3, Model 5, and Model 8 (also marketed as Airdog® products). The Company offers a unique air purifier, Tesla Air, to keep the air in your car the safest.
MODEL 3 (MSRP
This Space-age Technology allows Model 3 to actively collect particles 6 times smaller than other air purifiers!
Kronos® three layers of Washable Filters equate to zero dollars in maintenance cost while eliminating up to
MODEL 5 (MSRP
MODEL 8 (MSRP
Kronos also supplies advanced US-manufactured face masks (including high-tech invisible masks) to better protect employees, customers, students, and teachers nationwide.
COVID-19 DISCLAIMER:
Kronos uses a variety of methods to test the functionality of our air purification products. Customers should evaluate their specific application and environmental conditions when making an assessment regarding the technology's potential benefits. Our customers should also use reasonable safety precautions to prevent the transmission of pathogens, including SARS-CoV-2. While our products provide significant advantages, you cannot rely solely on our products to contain Covid or prevent its spread. It is important to comply with all applicable public health laws and guidelines issued by national, federal, state, and local authorities, including guidance published by the Centers for Disease Control and Prevention (CDC), including but not limited to social distancing, hand hygiene, cough etiquette, and the use of face masks.
About Kronos Advanced Technologies, Inc.
The Company was 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.
The Company supports KronosFoundation.org, which encourages people to make positive change while it helps others to breathe safe air by donating air purifiers locally and nationwide through campaigns that make an impact.
Kronos published research about the effectiveness of Kronos Patented technology on air disinfection n (e.g., microorganism destruction) by demonstrating the high efficacy of Kronos® Technology-based air purifiers in capturing and destruction of various types of microorganisms (including Corona Viruses) in different environmental settings back in 2008. Results of this research showed that Electrostatic Air Filtration and Purification systems based on Kronos technology demonstrated high capturing and destruction efficiency for different types of microorganisms, bacteria, and viruses, and can be successfully used for disinfection of air in real word environmental settings, including hospital facilities both with and without the presence of people.
BusinessWeek called Kronos air purifiers "VIRUS KILLER" in 2005.
Kronos is the first publicly traded Company that accepts Dogecoin as a form of payment for its products, as well as other cryptocurrencies.
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 Parkersburg, WV.
Shopping portal: https://www.1800safeair.com
Follow KNOS on Twitter: https://twitter.com/kronosati
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Follow KNOS on Youtube: https://www.youtube.com/channel/UCdtrQDt1R26Ulh8v-S-EpJg
Follow KNOS on Reddit: https://www.reddit.com/user/Kronos_ATI
Follow KNOS on LinkedIn: https://www.linkedin.com/company/kronos-advanced-techngologies-inc
Contact us via info@kronosati.co or visit https://www.kronosati.co or https://www.1800SafeAIR.com
Disclaimer
This news release does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Kronos Advanced Technologies Inc or any other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, nothing in this press release is intended to provide tax, legal, or investment advice, and nothing in it should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal, or tax situation.
Social Media Disclaimer and Forward-Looking Statements.
Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), through press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above.
We encourage our investors and others to monitor and review the information we make public in these locations, as such information could be deemed to be material information. Please note that this list may be updated from time to time.
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)
FAQ
What are the financial results of Kronos Advanced Technologies for the fiscal year 2021?
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