Dais Initiates Strategic Changes for Growth, Enters Into License and Supply Agreement
December 05, 2019 09:00 ET | Source: Dais Analytic Corporation
Company Completes Reverse Stock Split, Nears Agreement with Debtholders to Deleverage Balance Sheet and Forges Strategic Relationship Focused on Industrial/Consumer Food Packaging
ODESSA, FL, Dec. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Dais Corporation (“Dais” or the “Company”) (OTC: DLYT-D), is executing on plans to grow revenues from product sales which embody the Company’s disruptive advanced nanomaterial platform. The products created by the platform are focused on profitably securing the future of key resources for life, and economic stability – Air, Energy, Food, and Water.
Strategic Changes
Dais today announced:
· The formation of a ten (10)-year exclusive, royalty bearing License and Supply Agreement (“LSA”) with Oxnard, CA-based American Alupack Corporation, LLC (“AAPI”), a fast-growing, privately held manufacturer of food packaging solutions for the industrial and consumer markets.
The LSA covers the rights for AAPI to sell products into the food packaging industry, throughout North America and India, that potentially yield up to a 300% improvement in the lifetime of certain foods by taking full advantage of the special features incorporated into Dais’s platform of advanced nanomaterial. The companies may, over time, choose to develop a broader line of consumer products using Dais’s flexible intellectual property.
Commenting on the agreement, AAPI CEO Manny Thakkar stated, “It is our belief, as a growing international player in the food packaging industry there is considerable and expanding interest for creative package solutions, which better address food preservation. The USDA estimates domestic food waste at between 30-40 percent of the food supply, which corresponded to approximately $161 billion in 2010. AAPI believes the product we plan to offer, using Dais's unique polymer-based technology, will translate into reduced costs for retailers and consumers totaling well over $1 billion annually.”
“This exciting new arrangement underscores the power of Dais’s advanced material platform to creatively expand into newer verticals with strong partners – such as AAPI - having robust and growing access to a diverse customer base in their industry, seeking next-gen packaging solutions,” said Tim Tangredi, Dais’s President and CEO. "Our team looks to roll out the first product with AAPI in 2020, and then potentially collaborate with Manny and his colleagues to create more innovative products benefiting countless consumers improving the entire food storage ecosystem."
Dais is exploiting strategic opportunities, such as with AAPI, for innovative uses of its advanced nanomaterial platform designed to significantly drive new recurring revenue growth and to improve the Company’s stock performance.
· The Company and its convertible noteholders are finalizing the implementation of a 100-day moratorium or “standstill” agreement effective immediately and pursuant to which all convertible noteholders will stop all trading in the securities of DLYT, stop instructing any other persons or entities to trade securities of DLYT, and agree to not create synthetic transactions that would impact DLYT trading or its share price during a period in which the Company will work to complete other planned corporate initiatives in support of Dais’s growth and profitability plans.
· Effective today, Dais is executing a previously approved 1 for 2000 reverse stock split of its equity traded on the OTC Markets Exchange for shareholders of record as of December 5, 2019.
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