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Prdponce
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KRONOS ADVANCED TECH INC (U-KNOS) - News Release
Kronos Commercial Air Purification Device Passes Initial Clinical Trial for Certification in Russia

2006-10-03 08:15 ET - News Release


BELMONT, Mass., Oct 3 /PRNewswire-FirstCall/ -- Kronos Advanced Technologies, Inc. , announced today that the Tree(TM) air purification device, designed and manufactured by Kronos' strategic partner in Russia, EOL LLC, has passed the first of two clinical trials required by the Russian Research Institute of Medical Equipment for certification in order for the device to be sold and used in hospitals and healthcare clinics throughout Russia.

The trial, conducted at the Pulmonary Department of Municipal Hospital #2 in Korolyov by the staff of the Accredited Research Laboratory Center affiliated with the Center for Hygiene and Epidemiology in compliance with the Sanitary Rules and Standards of the USSR Ministry of Healthcare, concluded that the Kronos-powered device was effective in decontaminating a hospital room against various airborne bacteria, mildew and yeast. The Report further concluded that the Tree(TM) air purification device is safe to use while patients are present.

"We believe this testing demonstrates that the Kronos-powered EOL device is extremely effective in eliminating airborne germs and preventing on-site and in-hospital infections, which are serious issues for healthcare facilities," stated Kronos President and Chief Executive Officer Daniel R. Dwight. "We are achieving our mutual objective with EOL to bring a viable air purification product to the Russian market; a product which we believe has the capability to improve people's health while decreasing healthcare costs."

"We have initiated the marketing and sales process by providing demonstration devices to select medical facilities and expect multi-unit, multi-site sales at the outset with private hospitals in Russia and its neighboring countries," stated EOL President E. V. Dvorkina. "Our marketing plan then calls for expanding our marketing and sales to health clinics and government hospitals followed by schools and other facilities where there is a need to improve air quality and decrease the transmission of airborne disease."

The trial tested the Tree(TM) air purification device for the reduction of air microbial inoculation; including the bacteria Staphylococcus aureus (S. aureus) which recently has become known as a major cause of hospital-acquired infections. S. aureus can cause skin lesions such as boils and furunculosis and more serious infections such as pneumonia and meningitis.

The first trial conducted at the Municipal Hospital #2, Pulmonary Department, demonstrated:

1. The pilot model of the electrostatic air purifying device Tree(TM)
developed by EOL LLC meets the Draft Technical Conditions and the
Passport.

2. The results of the laboratory testing done at the treatment and
prevention facility in the city of Korolyov, Moscow region, show the
effectiveness of the electrostatic air purifying device Tree(TM) and
the possibility of its application in treatment and prevention
facilities to disinfect the air in order to:

-- prepare rooms for use when there are no people present; and
-- prevent an increase in the microbial air inoculation with people
working in the room during the entire working shift.

3. Ozone concentration in the air of the room being treated while the
electrostatic air purifying device is being used according to the
recommended modes is much lower than the single maximum acceptable
ozone concentration in the ambient air.

4. The electrostatic air purifying device Tree(TM) can be recommended to
disinfect the air in treatment and prevention facilities.

The results showing the effectiveness of the Tree(TM) air purification device on the decontamination of S. aureus in a special procedures room, a patient room with no patients present and a patient room with patients and medical staff present are provided below:

Room Room Duration of Staphylococcus Effectiveness of air
Volume type operation (per 1 m(3)) disinfection with
(m(3)) (hours) the Tree(TM),
% reduction of
Staphylococcus
(per 1 m(3))
Before
operation 120 -
0.5 80 34%
Special 1 40 67%
83 m(3) procedures 2 32 74%
room 6 16 87%
24 12 90%
48 0 100%
72 0 100%

Before
Patient operation 80 -
room 0.5 22 73%
66 m(3) with no 1 12 85%
patients 2 10 88%
present 3 0 100%

Before
Patient operation 118 -
Room 1 16 87%
66 m(3) with patients 2 16 87%
& medical 3 32 74%
staff present 4 12 90%
5 0 100%

In addition to the clinical trials, the process of obtaining certification by the Russian Research Institute of Medical Equipment also requires testing of the Tree(TM) air purification device in an experimental chamber. Under the direction of Research Institute of Medical Equipment, the Disinfection Research Institution Laboratory of the Russian Academy of Medical Sciences tested the Tree(TM) device in a chamber infected with S. aureus and Bacillus cereus (B. cereus). The Disinfection Research Institution is the same laboratory that successfully tested the Kronos technology in December 2005 and May 2006.

The Institution concluded that the Tree(TM) device could be used for the highest levels of disinfection, which means it would be suitable for operating rooms or other areas in which surgical procedures are conducted, and safe to operate while humans are present. The results showing the effectiveness of the Tree(TM) air purification device on the decontamination of S. aureus and B. cereus in an experimental chamber are provided below:


Effectiveness of Air Disinfection during Artificial
Air Inoculation in a 30m(3) room

Sequence of Room Air
Sampling S. aureus

Inoculation Disinfection
CFU/m(3) Effectiveness
(%)
After Suspension Spray 2.9x10(4)
Room Air 15 minutes later 1.4x10(4) 95.2
Room Air 30 minutes later 4.4x10(3) 99.5
Room Air 45 minutes later 16 99.99
Room Air 60 minutes later 0 100.0
Air Sample from the
Current Immediately Behind the
Device After Suspension Spray 0 100.0


Effectiveness of Air Disinfection during Artificial
Air Inoculation in a 30m(3) room

Sequence of Room Air
Sampling B. cereus

Vegetative Form Spore Form

Inoculation Disinfection Inoculation, Disinfection
CFU/m(3) Effectiveness CFU/m(3) Effectiveness
(%) (%)
After Suspension
Spray 3.4x10(4) 2.1x10(4)
Room Air 15
minutes later 5.2x10(3) 84.7 8.5x10(2) 96.05
Room Air 30
minutes later 2.9x10(2) 99.2 1.1x10(2) 99.5
Room Air 45
minutes later 17 99.95 20 99.9
Room Air 60
minutes later 6 99.99 0 100
Air Sample from
the Current
Immediately
Behind the
Device After
Suspension Spray 8 99.99 0 100

About Kronos Advanced Technologies, Inc.
Through its wholly-owned subsidiary, Kronos Air Technologies, Inc., Kronos Advanced Technologies has developed a new, proprietary air movement and purification system that utilizes state-of-the-art high voltage electronics and electrodes to silently move and clean air without any moving parts. Kronos is actively commercializing its technology for standalone and embedded products across multiple residential, commercial, industrial and military markets. Kronos' technology is versatile, energy- and cost-efficient and exhibits multiple design attributes, creating a broad range of applications. The Company's business strategy includes a combination of building internal capabilities, establishing strategic alliances and structuring licensing arrangements. Kronos Advanced Technologies is located in Belmont, MA. More information about Kronos Advanced Technologies is available at www.kronosati.com.

About EOL, LLC

EOL is a Russian corporation formed for the purpose of manufacturing, marketing and distributing air purification products based on technology licensed from Kronos Air Technologies, Inc. EOL is owned and operated by Dvorkina Evgenia. Dr. Dvorkina is an entrepreneur who has extensive production, marketing and sales experience with commercial products in Ukraine and the Russian Federation. EOL is financed by Sberbank (the largest Bank in Central and Eastern Europe) - www.sbrf.ru/eng/. More information about EOL is available at www.tree-air.ru.

Safe Harbor Provision

This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future financial performance, market growth, capital requirements, new product introductions and acquisitions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, managements, including management's own knowledge and assessment of the Company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms; acceptance by customers of the Company's products; substantial expansion of international sales; reliance on key suppliers; the potential need for changes in long-term strategy in response to future developments; and competitive factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-KSB for the year ended June 30, 2006. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

PR Contact: IR Contact:
Patty McDonough Kennedy Ron Stabiner
Kennedy Spencer The Wall Street Group, Inc.
212-899-5150 212-888-4848

Kronos Advanced Technologies, Inc.


CONTACT: PR Contact, Patty McDonough Kennedy of Kennedy Spencer,
+1-212-899-5150, or IR Contact, Ron Stabiner of The Wall Street Group,
Inc., +1-212-888-4848


Web site: http://www.kronosati.com/

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cpeed
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I agree, if you look at the chart, it is due for a nice bounce
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Prdponce
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Bid

building up

.02 x .021

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Prdponce
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Bid Building up... watch for volume

.02 x .021

4 x 1

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Prdponce
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getting some volume
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Prdponce
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.
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dollar13
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BID 0.011 /ASK 0.013


[Eek!] [Eek!] [Eek!]

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dollar13
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NICE 0.013 PRINTING
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dollar13
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2 MM LEFT AT 0.013
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dollar13
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0.015 ALMOST GONE
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dollar13
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FINALLY THIS POS, MOVE A BIT
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dollar13
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ASK 0.015 AGAIN ....
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dollar13
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GO

KNOS

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dollar13
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PRINTING 0.017
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dollar13
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[Big Grin] [Big Grin] [Big Grin] [Big Grin] [Big Grin]
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dollar13
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WATCH OUT
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cactus33
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wow, nice..
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stocktrader22
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Damn...was in this at like .0063 not long ago! Too bad I sold for a modest gain a while back.

--------------------
Disclaimer: Not accountable for anything I say

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dollar13
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0.019 PRINTING
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stocktrader22
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Wow...

--------------------
Disclaimer: Not accountable for anything I say

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dollar13
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ONE MORE MM LEFT

0.02

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dollar13
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2 MM AT 0.02 NOW

LET'S GOOOOOOO

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dollar13
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quote:
Originally posted by cactus33:
wow, nice..

DOH NOT VERY NICE WHEN YOU SOLD TOO EARLY ......


LOL

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dollar13
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HERE WE GO NOW
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dollar13
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BID BUILDING AT 0.019


WTF

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dollar13
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WATCH OUT "KNOS"
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dollar13
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0.019 ONE MORE LEFT
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dollar13
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0.02 LAST CALL


LOL

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dollar13
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0.026 X 0.028 2X2
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dollar13
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YESTERDAY AFTER HOURS NEWS.


Kronos Enters Into Funding Agreement for Up to $18 Million in New Funding With An Initial Advance of $4.2 Million
Tuesday June 19, 5:32 pm ET


BELMONT, Mass., June 19, 2007 (PRIME NEWSWIRE) -- Kronos Advanced Technologies, Inc. (OTC BB:KNOS.OB - News) announced today that it has entered into a Funding Agreement with a group of lenders providing for a loan, at the discretion of the lenders, in the aggregate amount of up to $18,159,000. At the initial closing, the Company received an initial advance of $4,259,000. After payment in full of the amounts due under an outstanding convertible debenture issued to Cornell Capital Partners and settlement agreement obligation to HoMedics and the expenses of the transaction, the remainder, estimated at approximately $1.1 million, will be used for working capital purposes.



The new lenders are: (i) AirWorks Funding LLLP, a newly-formed limited partnership of which Compass Partners, L.L.C., a company controlled by Richard E. Perlman, serves as general partner. Mr. Perlman currently serves as Chairman of the Board of TurboChef Technologies, Inc., and from August 2000 until its sale in October 2003, served as Chairman of the Board of PracticeWorks, Inc.; (ii) Critical Capital Growth Fund, L.P. and various Sands Brothers Venture Funds, all of which are affiliates of Laidlaw and Co. (UK) Ltd. and (iii) RS Properties I LLC, a New York-based private investment company.

``We welcome the investment from our new financial partners, AirWorks Funding LLLP, RS Properties, Sands Brothers Venture Capital Funds, and Critical Capital Growth Fund, L.P., and recognize it as a strong vote of confidence in Kronos and its proprietary technologies,'' stated Daniel Dwight president and Chief Executive Officer of Kronos. ``This funding will help us begin shifting our business model from licensing and development to product development and manufacturing. We believe that this funding will potentially enable the Company to successfully conclude negotiations with new customers that are targeting the residential marketplace. Certain of these prospective customers have been seeking Kronos' development and manufacturing of finished air purification products on their behalf, but have been concerned with Kronos' financial position.''

The loan is secured by all of the Company's assets and is convertible into shares of the Company's common stock at a conversion price of $0.0028 per share, subject to adjustment under certain circumstances. Future installments under the Funding Agreement, up to $13.9 million, may be advanced at the discretion of the lenders, even if not requested by the Company. Under the Funding Agreement and related notes, the Company pays interest at the rate of 12% per annum. Of the total amount of the initial advance, interest is paid monthly starting July 1, 2007 on $859,000, which principal amount is due and payable December 31, 2007. Such amount may be converted into Kronos common stock at the option of the holder at the $0.0028 conversion price only if not paid in full by December 31, 2007. With respect to all other loan amounts, interest is paid quarterly starting January 1, 2008 and outstanding principal is due and payable June 19, 2010, unless earlier converted at the option of the lenders. Assuming payment when due of the $859,000, that the maximum loan amount is advanced under the Funding Agreement and related notes and that the lenders convert the entire amount of the loan into Kronos common stock at the noted conversion price, the lenders would own approximately 93.3% of the Company's total equity on a fully diluted, as converted basis.

Kronos' Board of Directors engaged an investment banking firm prior to the closing to render an opinion as to whether the transaction was fair to Kronos' stockholders. On June 18, 2007, such investment banking firm delivered its opinion to Kronos' Board of Directors to the effect that, as of that date and subject to the qualifications set forth in its opinion, the transaction was fair to Kronos' stockholders.

In connection with the transaction, Kronos' Board of Directors approved a new employee stock incentive plan with up to 100 million shares, options for 61 million of which were issued to certain executive officers and employees as of the closing of the Funding Agreement transaction.

Also in connection with the Funding Agreement, several Kronos option and warrant holders delivered standstill agreements pursuant to which such holders agreed not to exercise their options or warrants before December 31, 2007. Several stockholders also entered into Voting Agreements with the lenders pursuant to which they agreed to vote, if and when proposed to shareholders, in favor of: a slate of directors of the Company's board of directors as proposed by AirWorks; adjusting the size of the Company's board of directors such that upon the election of the slate of directors proposed by AirWorks, such directors hold a majority of the seats on the Company's board of directors; approving an amendment to the Company's articles of incorporation to increase the Company's authorized common stock to a number of shares necessary to allow the lenders to convert the entire amount of the financing into shares of common stock of the Company as provided in the Notes and the Funding Agreement; reincorporating the Company in Delaware; a reverse stock split proposed by AirWorks or the Company's board of directors; and against any action or transaction that may reasonably be expected to impede, interfere with, delay, postpone or attempt to discourage the consummation of any of the foregoing. Such standstill and voting agreements, combined with the conversion into Kronos common stock of a sufficient amount of the initial advance under the Funding Agreement, would give the lenders voting control of the Company.

The Funding Agreement also gives the lenders the right to designate a majority of the members of the Company's Board of Directors. Such right has not yet been exercised. The Funding Agreement also contains usual and customary representations and warranties and covenants that prohibit the Company from undertaking certain actions without the consent of AirWorks Funding LLLP.

About Kronos Advanced Technologies, Inc.

Through its wholly owned subsidiary, Kronos Air Technologies, Inc., Kronos Advanced Technologies has developed a new, proprietary air movement and purification system that utilizes state-of-the-art high voltage electronics and electrodes to silently move and clean air without any moving parts and with high energy efficiency. Kronos is actively commercializing its technology for standalone and embedded products across multiple residential, commercial, industrial and military markets. Kronos' technology is versatile, energy and cost efficient and exhibits multiple design attributes, creating a broad range of applications in large markets. The Company's business strategy includes a combination of building internal capabilities, establishing strategic alliances and structuring licensing arrangements. Kronos Advanced Technologies is headquartered in Belmont, MA. More information about Kronos Advanced Technologies is available at http://www.kronosati.com.

The Kronos Advanced Technologies, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1888

Forward-Looking Statements

With the exception of historical information contained in this press release, this press release includes forward-looking statements and comments. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond the Company's control. Forward-looking statements, by their nature, involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. Other risks are summarized under the caption ``Certain Business Risk Factors'' in the Company's Annual Report on Form 10-KSB for the year ended June 30, 2006 as filed with the Securities and Exchange Commission.


Contact:
Kronos Advanced Technologies, Inc.
Richard F. Tusing, Chief Operating Officer
617-364-5089


--------------------------------------------------------------------------------
Source: Kronos Advanced Technologies, Inc.

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