KRONOS ADVANCED TECHNOLOGIES INC FILES QUARTERLY FINANCIAL RESULTS HIGHLIGHTING OPERATIONAL IMPROVEMENTS AND REVENUE GROWTH
Los Angeles, CA, Nov. 23, 2020 (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC., (OTC MARKETS: KNOS) ("KNOS" or the "Company"), a revenue-generating, product development and production company that has significantly changed the way air is moved, filtered and sterilized reported financial results on November 20, 2020, for the Company's first quarter ended September 30, 2020.
YTD Financial Highlights:
Calendar 2020 YTD Revenue increased to $187,183.00
Fiscal Q1 2020 Reported Revenue of $134,837.00
First Quarter, September 30, 2020, Results Increased more than 400% Over June 30, 2020, Year-End Revenues.
Kronos filed for provisional US patent protection for a new antibacterial face mask with cellphone radiation protection features.
Kronos launched an independent sales rep program across the USA.
Kronos became an authorized supplier for Walmart.com.
Kronos increased inventories and announced new products.
Kronos Advanced Technologies, Inc reported financial results for the three and nine months ended September 30, 2020. Over the past two quarters, the Company has expanded its online sales and marketing efforts and signed agreements with leading industry partners to introduce new product lines that will allow the Company continued revenue growth in 2021. During the pandemic, the Company had increased efficiency, adapted and established new policies that the Company anticipates to be more profitable and scalable, setting up for a promising 2021, expecting a vast improvement over pre-pandemic economy levels.
"The challenges of this pandemic of 2020 have been very difficult. Our Corporate leadership and advisors have continued to focus on developing sustainable ways to improve our current market positioning. In addition, we launched a new strategic supply chain initiative that we believe will increase shareholder value. We expect a positive increase in sales this upcoming holiday season. We look to become a leading smart air purifier manufacturer and distributor nationwide once our infomercials starring Kevin Harrington begin to air," said Michael Rubinov, Kronos President.
About Kronos Advanced Technologies, Inc.
Kronos Advanced Technologies, Inc. began operations in 2002 as a product development company that invented and significantly changed the way air is moved, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company's proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half of a 60-watt light bulb. Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled-down for air purification in cars or scaled-up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types -to move, sterilize and filter air, including removing allergens down to 14.6 nanometers, passing through our patented technology -replacing expensive outdated passive HEPA and other filtration type systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and the cabins of automobiles and commercial aircraft.