Addressing Climate Change with Products Built Around a Proven Nanomaterial Platform
ODESSA, FL, Nov. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Dais Corporation ("Dais" or the "Company") (OTC: DLYT), selling proven Climate Change reducing products enabled by its Aqualyte™ Platform of Nanomaterial, today announced the Company has removed $2.12M of convertible, variable debt from its balance sheet.
The elimination of this debt improves the Company's balance sheet and will ease the path to obtaining needed resources to generate new revenues and foster future growth.
Since 2017, the Company entered into Convertible Note Holder agreements totaling $2,107,414 as of May 31, 2021 (including fees, interest, and principal). In June 2021 the Company and its Convertible Note Holders agreed to a plan where the Convertible Noteholders agreed to exchange the $2,107,414 of debt for shares of Common stock and Warrants in the Company. The Exchange was completed by the end of July 2021. The Company issued 7,036,668 Common shares, and 3,576,733 Warrant shares in this transaction. Details of this transaction may be found in a Form 8-K filed with the SEC (www.sec.gov).
During this time the Company received over $500,000 in initial financing led by a consortium of institutional investors. Use of these proceeds include:
- Bringing the Company's SEC filings current.
- Completing certifications for a more powerful, price competitive addition to the Company's ConsERV™ Energy Recovery Ventilation product line.
- Expanding the Company's management and marketing team, and sales channels for its ConsERV™ product.
- Building an inventory of long lead time product components mitigating key worldwide supply chain challenges instilling investor confidence and providing higher level of customer satisfaction.
The Company's focus in the coming two years is to significantly increase sales and revenues in two key areas. First is organic revenue growth driven by the release of a new, improved ConsERV™ product line through an expanding network of independent sales partners. Second is increased sales of its Aqualyte™ advanced nano-polymer material, which will be marketed to qualified OEMs wishing to create differentiated products.
Tim Tangredi, CEO of Dais Corporation, is conducting a series of interviews over the next several months hosted by CEO Roadshow. The first interview in the series was held live on Friday, November 19, 2021 at 11am ET, and may be viewed by accessing the following webcast link: https://ceoroadshow.com/dais-webinars/.
About Dais Corporation
Dais Corporation is a nanotechnology business producing a versatile platform of nanotechnology membrane materials (called Aqualyte™) addressing evolutionary and disruptive air, energy, and water applications. These proven products are characterized by offering Climate Change emission and energy reductions, longer lifetimes, and competitive pricing in the HVAC, Water, and Energy industries. Current commercial revenues come from selling:
- Advanced Aqualyte™ nanomaterials to a wide range of OEMs wishing to create new or highly differentiated products which embrace the moisture management features of the product.
- ConsERV™, a commercially available HVAC engineered energy recovery ventilation system that uses energy in exhaust air to precondition the temperature and moisture content of incoming fresh air. ConsERV™ typically saves energy, reduces CO2 emissions, and allows the overall HVAC system to be safely downsized. ConsERV™ introduces fresh ventilation air, resulting in higher productivity and sharper decision-making skills of building occupants, lowers triggers for allergies and asthma, and offers strong protection against key pathogens, including COVID-19 and most aggressive forms of bacteria.
The Company envisions advances in the following products using its technologies to join Dais' current commercial offerings:
- A revolutionary approach to cooling towers and evaporative condensers useful in HVAC and power generation which prevents the release of dangerous microbes, such as Legionella, and opening new markets for reduced-maintenance evaporative cooling systems.
- An Industrial Wastewater treatment process for contaminated industrial wastewater and creating ultra-pure potable water. These systems will have efficiencies at equal or reduced capital and operating costs than other technologies.
- A consumer and commercial product which extends the shelf-life of a wide range of foods, fruits, vegetables, meats, and other organics. This extension results in reduced spoilage creating economic savings and lowering the key driver of Climate Change (CO2)
The proven benefits of these products support the Company's claims of using Aqualyte™ in products leads to evolutionary or industry product changes resulting in (to list a few) financial savings, reductions in CO2 emissions, and improved functionality and lifetime of products.
Each use of the Aqualyte™ platform of nanostructured polymers and engineered processes focuses on minimizing consumption of irreplaceable natural resources and ending the degradation of our environment. To learn more, please visit www.daisanalytic.com.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes, "estimates," or the negative of these words and/or similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For example, statements about future revenues and the Company's ability to fund its operations and contractual obligations are forward looking and subject to risks. Several important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the inability to raise capital to support the Company through its growth stage, the Company's inability to generate projected sales and trade relations between the United States and China. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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