ODESSA, FL, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Dais Analytic Corporation (OTCQB: DLYT), a commercial nanotechnology materials business selling industry-changing nanomaterial technology into the worldwide water, air and energy markets, announced today that it has repaid and satisfied all obligations under three convertible notes on its balance sheet as of September 30, 2017.
With proceeds from a non-convertible note from an affiliate, Dais was able to repay the three variable rate convertible notes on its balance sheet that had a combined balance of $371,424.
"We are very pleased to announce that we have repaid these convertible debt obligations, which avoids additional dilution to our stockholders that would occur if the Notes were converted," said Timothy Tangredi, Chairman and CEO of Dais. "We have made great progress in closing strategic business agreements, and plan to then use this momentum to open opportunities for our water and HVAC products. We believe our future revenues will bear out this progress."
About Dais Analytic Corporation
Dais Analytic Corporation (OTCQB: DLYT) is a nanotechnology business producing a versatile family of membrane materials -- called Aqualyte -- focusing on evolutionary or disruptive air, energy and water applications. The uses include:
- NanoClear™, a commercialized system treating contaminated water (notably most all forms of industrial waste), to provide pure potable water;
- ConsERV™, a commercially available engineered energy recovery ventilator (an HVAC product) useful for efficient management of ventilation air's temperature and moisture content using the energy found in the outgoing 'stale' air stream to pre-condition the incoming fresh air often saving energy, CO2, and allowing for equipment downsizing;
- NanoAir™, an early beta-stage water-based, no fluorocarbon producing refrigerant cooling cycle which can replace the existing gas based compression cooling cycle in most all forms of air-conditioning and refrigeration saving a projected 50% in energy and CO2;
Each use demonstrates the diversity of Dais' core product - Aqualyte™ - the family of nano-structured polymers and engineered processes having a focus on minimizing consumption of irreplaceable natural resources, and ending the degradation of our environment. To find out more about Dais 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," and 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. A number of 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, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
212 658 0458
Source: Dais Analytic Corporation