Dais Repays Existing Convertible Notes
9:31 am ET December 14, 2017 (Globe Newswire) Print
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(TM), a commercialized system treating contaminated water (notably most all forms of industrial waste), to provide pure potable water;
-- ConsERV(TM), 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(TM), 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(TM) - 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
