Parkersburg, WV, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Parkersburg, WV - September 3, 2024 - Kronos Advanced Technologies, Inc. (OTC:KNOS), a leading technology company specializing in advanced air purification and innovative technology solutions, announced today that its Board of Directors has declared a cash dividend for its shareholders.
The Board has approved a cash dividend of $0.00001 per share on the Company's outstanding shares of common stock. The dividend is payable on December 18, 2024, to shareholders of record as of September 18, 2024.
Greg Rubin, CEO of Kronos Advanced Technologies, commented on the decision, stating, "This dividend reflects our commitment to delivering value to our shareholders. While the dividend amount is modest, it represents an important step in returning value to our investors, and we look forward to further enhancing shareholder value as we execute on our growth strategy."
Kronos Advanced Technologies is committed to maintaining transparency and delivering consistent value to its shareholders. This dividend announcement marks the latest in a series of strategic decisions aimed at strengthening the company's financial health and supporting its long-term objectives.
As announced recently, Kronos Advanced Technologies entered into a Letter of Intent (LOI) for the purpose of acquiring Suarez Industries, Inc. This acquisition, if successful, will not dilute existing shareholders, ensuring that they continue to benefit from the company's future growth.
About Suarez Industries
Founded by Ben Suarez in 1968, Suarez  Industries has evolved from a mail-order startup into a leader in direct marketing and product innovation. From its modest beginnings, the company achieved profitability by 1973 and saw a 100% increase in sales by 1988, leading to the establishment of a state-of-the-art headquarters. Known for its rigorous standards and unique in-house approach to product development, Suarez Industries now offers a diverse range of products, including the EdenPURE™ air purifiers and heaters. The company's commitment to quality is backed by a 100% money-back guarantee and a strong philanthropic presence.
Strategic Partnership with Kronos
Suarez Industries has entered a pivotal phase with a proposed acquisition by Kronos Advanced Technologies. This strategic move is supported by a new agreement with major suppliers, ensuring a steady product supply and enabling Suarez Industries to focus on aggressive advertising and expansion. The partnership aims to significantly boost customer acquisition and re-enter the retail market, positioning Suarez Industries to reach $100 million in annual sales within the next 12 to 36 months.
Future Outlook
With Kronos's backing, Suarez Industries is set to enhance its market presence, expand internationally, and achieve substantial growth. The acquisition, pending financial and regulatory approvals, is expected to close within the next 90 days.
For more information, visit www.Edenpure.com.
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 ...
