Update

Dais Corporation Eliminates Short Term Debt, Positioning the Company for Long Term Growth

Addressing Climate Change with Products Built Around a Proven Nanomaterial Platform

ODESSA, FL, Nov. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Dais Corporation (“Dais” or the “Company”) (OTC: DLYT), selling proven Climate Change reducing products enabled by its Aqualyte Platform of Nanomaterial, today announced the Company has removed $2.12M of convertible, variable debt from its balance sheet. 

The elimination of this debt improves the Company’s balance sheet and will ease the path to obtaining needed resources to generate new revenues and foster future growth.

Since 2017, the Company entered into Convertible Note Holder agreements totaling $2,107,414 as of May 31, 2021 (including fees, interest, and principal). In June 2021 the Company and its Convertible Note Holders agreed to a plan where the Convertible Noteholders agreed to exchange the $2,107,414 of debt for shares of Common stock and Warrants in the Company. The Exchange was completed by the end of July 2021.  The Company issued 7,036,668 Common shares, and 3,576,733 Warrant shares in this transaction. Details of this transaction may be found in a Form 8-K filed with the SEC (www.sec.gov).

During this time the Company received over $500,000 in initial financing led by a consortium of institutional investors. Use of these proceeds include:

•  Bringing the Company’s SEC filings current.
•  Completing certifications for a more powerful, price competitive addition to the Company’s ConsERV Energy Recovery Ventilation product line.
•  Expanding the Company’s management and marketing team, and sales channels for its ConsERV product.
•  Building an inventory of long lead time product components mitigating key worldwide supply chain challenges instilling investor confidence and providing higher level of customer satisfaction. 

The Company’s focus in the coming two years is to significantly increase sales and revenues in two key areas. First is organic revenue growth driven by the release of a new, improved ConsERV product line through an expanding network of independent sales partners. Second is increased sales of its Aqualyte advanced nano-polymer material, which will be marketed to qualified OEMs wishing to create differentiated products.