PArkersburg, West Virginia, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Parkersburg, WV - August 27, 2024 - Kronos Advanced Technologies Inc. (OTC: KNOS), a leader in advanced air purification and innovative technology solutions, today announced it has entered into a non-binding Letter of Intent ("LOI") to acquire Suarez Corporation Industries, and affiliated companies through a strategic acquisition aimed at revitalizing the legacy of this well-established direct marketing giant. The acquisition, outlined in a recently signed Letter of Intent, represents a pivotal moment for both companies, combining their strengths to drive substantial growth in the coming years.
About Suarez Corporation Industries: A Legacy of Success
Suarez Industries, founded by Ben Suarez in 1968, has grown from a humble mail-order business to a powerhouse in direct marketing. With a steadfast commitment to innovation and quality, the company has become a leader in the industry, known for its diverse product offerings and rigorous standards. From its early days of operating out of the Suarez family home, the company quickly expanded, achieving profitability by 1973. By 1988, Suarez Industries had experienced a remarkable 100% increase in sales, leading to the establishment of a state-of-the-art International Headquarters. What sets Suarez Industries apart is its unique approach to product development and marketing. All aspects of the creative process—from product conception to fulfillment—are handled in-house, allowing the company complete control over the quality and success of its offerings. This integration has fueled the company’s growth, making it one of Stark County’s largest employers and a trusted name in households across the nation. Today, Suarez Industries markets hundreds of products worldwide, ranging from jewelry and collectible coins to innovative home products like the EdenPURE™ air purifiers and heaters. The company’s commitment to customer satisfaction is evident in its 100% money-back guarantee, ensuring that every product meets the highest standards before reaching consumers.
Suarez Industries is not just a business; it's a community-minded organization. The company and its associates are known for their philanthropic efforts, supporting causes like breast cancer research, disaster relief, and numerous local charities. This spirit of giving, combined with a relentless pursuit of excellence, continues to drive Suarez Industries forward, making it a leader in the direct marketing industry., Suarez Industries has been a trailblazer in the manufacturing and distribution industry, known for its innovative product lines and commitment to excellence. With a rich history spanning nearly five decades, the company has consistently delivered high-quality products to a global market, earning a reputation for reliability and customer satisfaction.
Under the visionary leadership of its founder, Mr. Ben Suarez, the company has navigated through various economic climates, always emerging stronger and more resilient. Suarez Industries has made significant strides in technology, adapting to the ever-changing market demands while maintaining its core values of integrity and innovation.
Today, Suarez Industries stands as a testament to hard work and ingenuity, continuing to expand its influence in the industry and setting new benchmarks for quality and service. With a strong foundation and a forward-thinking approach, the company is poised for continued success and growth in the years to come. The company operates out of 160,000 square feet facility located in Stark County, Ohio.
For more information, please visit www.Edenpure.com
Strategic Partnership with Kronos: A New Era of Growth
The proposed acquisition by Kronos Advanced Technologies comes at a crucial time, as Suarez Industries has recently secured a pivotal agreement with its major suppliers. This agreement ensures an unlimited supply of products without the need for upfront payments, allowing Suarez Industries to reallocate resources towards aggressive advertising and expansion strategies.
With additional capital, Suarez Industries plans to significantly enhance its customer acquisition efforts and re-enter the retail market. These initiatives are expected to generate substantial additional sales and position the company for continued growth.
Future Projections: A Path to $100 Million in Sales
The revitalization efforts spearheaded by Suarez Industries will be supported by Kronos, are expected to propel Suarez Industries to $100 million in annual sales within the next 12 to 36 months. This surge in sales is anticipated to yield significant net profit, with the company also planning to expand its marketing efforts and explore international licensing opportunities.
Closing the Deal: A Strategic Acquisition
The acquisition is contingent upon the resolution of key financial obligations and securing the necessary capital to fully execute this revitalization strategy. Kronos and Suarez Industries are poised to finalize the acquisition within the next 90 days, pending due diligence and regulatory approvals.
About Kronos Advanced Technologies Inc.
The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Kronos Advanced Technologies Inc. filed about 50 patent applications in the past and had total of 25 issued patents. These patents encompass a range of technologies primarily focused on air movement, filtration, and purification systems. The company, known for its innovations in air movement and filtration technologies, has an extensive patent portfolio that reflects its focus on advanced consumer electronics and medical-grade air purification products. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed how 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 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.
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!
Since our inception in 2002, Kronos Advanced Technologies has been at the forefront of innovation, revolutionizing the way air is moved, filtered, and sterilized. Our patented technology has been instrumental in various sectors, including indoor air quality, automotive, and healthcare.
Kronos Advanced Technologies, Inc. (OTC MARKETS: KNOS) announced in 2023 that the U.S. Food and Drug Administration (FDA) had granted 510(k) clearance to the company’s manufacturer, classifying its Model 5 Air Purifier as a Class II Medical Device. This clearance is a significant achievement, validating Kronos' patented High Voltage Field air disinfection technology, proven to eliminate 99.9% of harmful airborne particles, including allergens, bacteria, fungi, and viruses like COVID-19.
With FDA clearance, Kronos can now deploy its medical-grade air purification and air disinfection technology in hospitals, home health-care settings, schools, healthcare facilities, businesses, hotels, and government agencies. This milestone underscores Kronos' commitment to improving Indoor Air Quality (IAQ) and providing healthier and safer air environments.
As we embark on this new chapter with Kronos Advanced Technologies Inc., we remain committed to our mission of enhancing the health and well-being of individuals worldwide. We are proud to be pioneers in accepting cryptocurrencies, including Dogecoin,and Shiba Inu coins as a form of payment for our products, reflecting our dedication to embracing emerging technologies.
Our dedication to customer satisfaction remains unwavering, and we invite you to explore our products and offerings through our online shopping portal and social media channels.
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, West Virginia.
Shopping portal: www.KronosAIR.com
TikTok shop https://www.tiktok.com/@kronosair
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/@KronosAdvancedTechnologies
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.kronosAIR.com
Disclaimer
This filing 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), 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
Tel: (716) OTC-KNOS (716) 682-5667 accepts text messages only
