Dais Corporation (DLYT)

[LexTrader]

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.”