Kronos Advanced Technologies declares special cash dividend of $0.00001 per share
From GlobeNewswire: 2024-09-03 03:18:00
Kronos Advanced Technologies, Inc. declared a cash dividend of $0.00001 per share on outstanding shares, payable on December 18, 2024. CEO Greg Rubin highlighted the company’s commitment to delivering shareholder value through this dividend. Kronos aims to strengthen its financial health through strategic decisions like acquiring Suarez Industries, Inc., without diluting existing shareholders. Suarez Industries, founded by Ben Suarez in 1968, has since become a leader in direct marketing with a diverse product range including EdenPURE™ air purifiers and heaters. The Company achieved profitability by 1973 and grew rapidly, leading to a state-of-the-art headquarters. Strategic acquisitions like the proposed one by Kronos Advanced Technologies position Suarez Industries for significant growth and market expansion. With Kronos backing, Suarez Industries anticipates reaching $100 million in annual sales within 12 to 36 months. The acquisition is subject to financial and regulatory approvals and expected to close within the next 90 days. Kronos Advanced Technologies Inc., founded in 2002, began as a product development company focused on air purification technology. Its patented technology revolutionized air movement and sterilization by developing products that can move, filter, sterilize, and purify air while reducing energy consumption. Kronos based products are versatile and capable of serving various markets, including IAQ, healthcare facilities, and vehicles. Kronos Advanced Technologies has a history of research demonstrating the high efficacy of its air purifiers in capturing and destroying microorganisms, including viruses. This led to FDA clearance in 2023 for its Model 5 Air Purifier as a Class II Medical Device, validating the technology’s ability to eliminate harmful airborne particles. Now, with FDA clearance, Kronos can deploy its medical-grade air purification and disinfection technology in various settings, including hospitals, healthcare facilities, and businesses. The Company is also an exclusive distributor and licensee of the latest generation of air purifiers, which are marketed under the Airdog® and KRONOS® brands. All Kronos products come with a satisfaction guarantee. For more information, visit KronosAIR.com.
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