Dais Analytic Announces $2,000,000 in Financing - Secured note is paid clearing the way for additional investment
TAMPA, Fla., July 19, 2012 /PRNewswire/ -- Dais Analytic Corporation (OTC.BB: DLYT - News) announced today it has obtained $2,000,000 of financing from a long-time shareholder of the Company. Financing proceeds were used to repay, in full, an outstanding secured promissory note held by Platinum-Montaur Life Sciences, LLC with the remainder being used for the Company's working capital needs.
The Company and the funder are working with a well-respected firm in the HVAC industry to create a strategic relationship focused around Dais' ConsERV™ product line designed to create greater revenues and market penetration for this product in 2012 and beyond.
Tim Tangredi, President & CEO of Dais, said that, "The Company is thankful to Platinum-Montaur Life Sciences, LLC for their past and continued support. The Dais team is excited by the opportunity this strategic relationship will offer. We expect wider exposure in the sales channel will provide the Company greater depth to grow revenues within all of its innovative Aqualyte™ materials-based applications."
Applications for its Aqualyte™ materials include Dais' award-winning ConsERV™ product, its water-based air conditioning NanoAir™ system, its water cleaning NanoClear™ process, and its industry altering ultra capacitor for energy storage - NanoCap™.
About Dais Analytic Corporation
Dais Analytic Corporation (OTC.BB: DLYT - News) is commercializing its innovative Aqualyte™ family of nano-structured materials and processes focusing on evolutionary or disruptive air, energy and water applications. .
The uses include:
- ConsERV™, 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™, a beta-stage water-based, no fluorocarbon producing refrigerant cooling cycle useful to 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;
- NanoClear™, a beta-stage method for treating contaminated water (sea, waste, industrial) to provide 1,000 times cleaner potable water; and;
- NanoCap™, which holds promise to use the Aqualyte™ family to form a disruptive non-chemical energy-storage device (an ultra capacitor) when completed for use in transportation, renewable energy, and 'smart grid' configurations.
Each use demonstrates the diversity of Dais' core product - Aqualyte™ - 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/, and to learn more about ConsERV please visit www.conserv.com.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For example, statements about the future sales volume are forward looking and subject to risks. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Dais Analytic Corporation
Phone: 727-375-8484 x 223
SOURCE Dais Analytic Corporation