"Nearly two years ago, we set into motion a strategic plan to transform Kronos from a marketing and fulfillment company, positioned within the fragmented market space of Air Purification, into a globally dominant consumer product design and manufacturing Company. Our vision is for Kronos to become a household recognized, customer-centric design and manufacturing company providing products that improve the Human Condition by enhancing the air we breathe, the Water we drink, the Food we eat, and the Environment we live in. This acquisition is a key foundational milestone in our transformation", said
"We have invested significant capital and management resources finding the right location for our first design and manufacturing campus. The job possibility is enormous for the community of
"This acquisition includes a 10-acre campus, containing both warehouses and a 62,000 square foot manufacturing facility having all infrastructure and equipment to begin contract assembly immediately, as well as the manufacturing of Kronos owned products. The acquired manufacturing campus is located within a day's drive of 1/2 of the
The new facility will become the Company's first manufacturing plant in the
This acquisition was for a total amount of
Also, the
Corporate Headquarters Credit:
Companies that relocate their corporate headquarters to
High-Tech Manufacturing Credit:
Businesses that manufacture certain computers and peripheral equipment, electronic components, or semiconductors and which create at least 20 new jobs within one year after placement of qualified investment into service can receive a tax credit to offset 100% of the corporate net income tax and personal income tax on certain pass-through income for 20 consecutive years.
Manufacturing Investment Credit:
A tax credit is allowed against up to 60% of corporate net income tax and based on qualified investment in eligible manufacturing property, with no new job creation required.
Sales Tax Exemption for Certain E-Commerce Businesses:
Some computer-related sales of tangible personal property and services are exempt from the consumer sales and services tax.
Monies for employee training and onboarding assistance.
In Summary,
To support or further validate our strategic plan, one can look to the recent
https://www.whitehouse.gov/briefing-room/statements-releases/2022/02/24/the-biden-harris-plan-to-revitalize-american-manufacturing-and-secure-critical-supply-chains-in-2022/
One of the key points of the plan is to Bolster the American manufacturing of critical goods through new reforms under the Buy American Act.
About
Kronos is focused on next-generation wellness consumer electronics products and PPE solutions. The Company was founded in 2002 and funded by the
The Company supports KronosFoundation.org, which encourages people to make positive change while it helps others to breathe safe air by donating air purifiers locally and nationwide through campaigns that make an impact.
Kronos published research about the effectiveness of Kronos Patented technology on air disinfection (e.g., microorganism destruction) by demonstrating the high efficacy of Kronos® Technology-based air purifiers in capturing and destroying various types of microorganisms (including Corona Viruses) in different environmental settings back in 2008. Results of this research showed that Electrostatic Air Filtration and Purification systems based on Kronos technology demonstrated high capturing and destruction efficiency for different types of microorganisms, bacteria, and viruses and can be successfully used for disinfection of air in real word environmental settings, including hospital facilities both with and without the presence of people.
BusinessWeek called Kronos air purifiers "VIRUS KILLER" in 2005.
Kronos was the first publicly traded Company that accepted Dogecoin as a form of payment for its products, as well as other cryptocurrencies.
Recently, the Company filed for a utility patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company's CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Company Corporate offices are located in
Shopping portal: https://www.1800safeair.com
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Contact us via info@kronosati.co or visit https://www.kronosati.co or https://www.1800SafeAIR.com
Disclaimer
This news release does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by
Social Media Disclaimer and Forward-Looking Statements.
We encourage our investors and others to monitor and review the information we make public in these locations, as such information could be deemed to be material information. Please note that this list may be updated from time to time.
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any information that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products.
The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
COVID-19 DISCLAIMER:
Kronos uses a variety of methods to test the functionality of our air purification and PPE products. Customers should evaluate their specific application and environmental conditions when making an assessment regarding the technology's potential benefits. Our customers should also use reasonable safety precautions to prevent the transmission of pathogens, including SARS-CoV-2. While our products provide significant advantages, you cannot rely solely on our products to contain Covid or prevent its spread. It is essential to comply with all applicable public health laws and guidelines issued by national, federal, state, and local authorities, including guidance published by the
SOURCE:
Phone inquiries: 1-800-SAFE-AIR (option #4)
Source:
2022 GlobeNewswire, Inc., source