KRONOS ADVANCED TECHNOLOGIES TO PAY 1 DOGESPAC LLC UNIT FOR EACH 1 SHARE HELD ON THE RECORD DATE OF JUNE 15, 2021
Kronos Advanced Technologies (KNOS) announced a pro-rata distribution of 1 unit of DogeSpac LLC for each share held on June 15, 2021. DogeSpac intends to raise funds for advanced air purification products and has acquired 600 million Dogecoin Cash. KNOS is the first publicly traded company to accept Dogecoin as payment for products, promoting its air purification technology. The dividend will not be SEC-registered but will offer holders a chance to convert interests into tradeable crypto units in the future. Updates on DogeSpac will be provided on its website.
- Announced distribution of DogeSpac units to shareholders, potentially enhancing shareholder value.
- First publicly traded company to accept Dogecoin for products, aligning with cryptocurrency trends.
- DogeSpac aims to fund advanced air purification technology, which may lead to future growth.
- The recent major sell-off in major cryptocurrencies could affect investor sentiment.
- Dividend not registered with the SEC may limit liquidity and marketability for shareholders.
Los Angeles, CA, May 25, 2021 (GLOBE NEWSWIRE) -- (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) ("KNOS" or the "Company"), an innovation-driven product development and production company that has significantly changed the way air is moved, filtered, and sterilized announced today that the Company has resolved to distribute to all shareholders, pro-rata, 1 unit of DogeSpac LLC for each share of KNOS held on June 15, 2021.
DogeSpac currently owns 600,000,000 (www.dogecoincash.org) Dogecoin Cash (Crypto: DOG) and is designed as a Special Purpose Acquisition Corporation (SPAC) to raise funds to invest in advanced air purification products development. Once DogeSpac has achieved this fund-raising goal, it will provide a first right of refusal for Kronos Advanced Technologies to accept funding at favorable rates over its competitors. DogeSpac is also primarily designed to attract Dogecoin owners as its investors.
Kronos is history's first publicly traded Company in the stock market to accept Dogecoin for its products and continues to encourage Dogecoin owners to purchase our revolutionary clean air products as the Company continues to foresee upside potential holding the popular meme coin and has profited substantially from making this calculated bet, although it, along with other major cryptocurrencies, suffered a major sell-off recently.
While the dividend will not be registered with the SEC and therefore restricted, on a yet to be determined date in the future, unitholders will have the option to convert their LLC interests into Crypto units that will be tradeable on various Decentralized Cryptocurrency Exchanges such as Uniswap (Ethereum) and Pancakeswap (Binance)
Updates on DogeSpac will be available at: www.dogespac.com
Customers may purchase our revolutionary air purification products utilizing U.S. Dollars, Dogecoin as well as other cryptos by visiting our shopping portal: https://www.1800safeair.com
What Is Dogecoin? (CoinMarketCap.com)
"Dogecoin (DOGE) is based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin."
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.
Kronos is the first publicly traded Company that accepts DOGE coin 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 Los Angeles, California.
Shopping portal: https://www.1800safeair.com
Follow KNOS on Twitter: https://twitter.com/kronosati
Follow KNOS on Facebook: https://www.facebook.com/kronosati
Follow KNOS on Instagram: https://www.instagram.com/kronos_ati/
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 is the DogeSpac LLC distribution by Kronos Advanced Technologies?
How does Kronos Advanced Technologies utilize Dogecoin?
What is the purpose of DogeSpac LLC?
What potential impacts does the DogeSpac distribution have on KNOS shareholders?
What limitations are associated with the DogeSpac dividend?
