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Los Angeles, CA, March 22, 2021 (GLOBE NEWSWIRE) -- Los Angeles, CA, March 22, 2021 (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) ("KNOS" or the "Company"), product development and production company that has significantly changed the way air is moved, filtered and sterilized announced today the first-ever of its kind, Special Purpose Acquisition Company (SPAC), that allows Dogecoin (CRYPTO: DOGE) holders to acquire DogeSPAC LLC interests. The new DogeSPAC focuses on expanding our existing air purification and digital health improvement technology development and is actively searching for acquisitions in this field. Kronos will maintain a 20% interest or 4,000,000 units. DogeSPAC LLC plans to raise approximately $100 million worth of Dogecoin by offering up to 20 million units at an exchange rate of 100 Dogecoin for 1 unit or 2000 Dogecoin Cash (Crypto: DOG) for every 1 unit of the DogeSPAC, LLC.
According to SPAC Insider, in 2020, 247 newly formed SPACs raised $83 billion in capital through initial public offerings. In 2019 and 2020, more SPACs were created in those two years than in the prior 18 years combined. SPACs have already raised more than $38 billion in 2021, with an average of $296 million for 128 SPAC IPOs.
The money raised through SPACs in January 2021 alone surpassed that of all of 2019.
"Dogecoin started as a meme cryptocurrency poking fun at Bitcoin but now has a market capitalization of over $7 billion with an army of supporters. Tesla CEO Elon Musk won't stop tweeting about Dogecoin. Snoop Dogg placed online a mock album image named "Snoop Doge." Gene Simmons, a co-founder of the rock band Kiss, calls himself the "God of Dogecoin," said Kronos President Michael Rubinov. "After continued interest and support from the Dogecoin community in our AirDoge and other Kronos products and increased popularity of DogeCoin, we're excited to launch our dedicated DogeSPAC team."
The newly formed DogeSPAC team will initially take the indication of interests from Dogecoin owners that qualify as accredited investors and/or non-USA persons. After exhausting these interests, DogeSPAC LLC intends to go through the highly regulated process of SEC registration known as S-1 in order to reach a broader audience and will update investors and shareholders via www.dogespac.com periodically. Any inquiries should indicate both the size of interest and whether ownership in DogeSPAC would be preferred in the more traditional units of certificates or in units that will be posted on the Binance Blockchain where they will eventually be tradeable on PancakeSwap -the decentralized exchange for swapping BEP-20 tokens. Once DogeSPAC has raised sufficient amounts of Dogecoin, we will endeavor to close our first acquisition utilizing Dogecoin as the preferred form of payment or investment.
Those interested should request further information via firstname.lastname@example.org.
Purchases of our revolutionary clean air products can be purchased utilizing US Dollars, Dogecoin as well as other cryptos by visiting our shopping portal: https://www.1800safeair.com.
Should You Invest in a SPAC? (Forbes.com)
While the following information quoted from Forbes is more relevant to traditional SPACs, it may be of general interest:
"As with any investment decision, there are pros and cons to investing in a SPAC. Investing in a SPAC IPO amounts to a bet on the sponsors, their reputation, and whether a successful deal will happen within two years. Rather than researching a company's financials, as you should when investing in an individual stock, you'll need to instead research who is behind the SPAC and what industry they may be targeted for acquisition.
"If, after doing your due diligence, you decide to buy into a SPAC, keep a few things in mind:
"While SPACs do offer a guaranteed return of your investment if they don't acquire or merge with a company within two years, they aren't without risk.
"First, though most SPACs start out with share prices of around $10, this price can rise substantially due to the fame of those behind them or the announcement of their target acquisitions. If you end up paying more than the initial offering price of a SPAC, you could stand to lose more than your initial investment if no deal materializes since you'd only recoup the $10 per share price, minus expenses.
"Next, even if you bought in at the initial price, you have lost opportunity cost to contend with, Jablonski says, as your initial investment is tied up in low-paying Treasury bonds for up to two years when that money could have been invested elsewhere.
"And if your SPAC does successfully acquire a company, it becomes just as risky as any other single stock, if not riskier. Remember: While some startups offer incredible returns on investment, most fail or offer submarket returns.
"Consider this: In between SPAC IPO and merger (or SPAC liquidation, if no deal happens), the average return for SPAC investors has been 9.3% per year since 2010, according to figures from a January 2021 Goldman Sachs report. This isn't bad, especially if you consider SPACs essentially bonds given their guarantee of principal if things fail—but it is about 24% worse than the S&P 500 during the same period. What's perhaps more concerning, though, is that this pattern continues in the year following the acquisition, when SPACs no longer contain their return of principal guarantee. In their first year, SPAC-acquired stocks still underperform the broader market by 24% on the whole, according to Goldman Sachs.
"What's more, these numbers are in aggregate. Chances are you aren't going to buy the hundreds of individual SPAC shares necessary to achieve these smooth returns. You'll be buying one or two. Yes, you might get lucky and pick a winner. In 2019, SPAC Switchback Energy Acquisition (SBE) saw a 323% share price increase in just its first few months, for instance. But as with stock picking in general, it's hard, if not impossible, to root out the winners from the losers.
"That's why you might opt for a SPAC-focused ETF if you're dead set on SPACs or want to add them to your portfolio for diversification. 'It gives people exposure to the growing SPAC space in lieu of betting on one deal because not every one of them is going to be a winner,' Jablonski says.
"Regardless of returns, though, one thing seems apparent: SPACs are more than just a fad. Two months into 2021, nearly 180 SPACs have filed IPOs, totaling more than $54 billion, according to SPACInsider. 'Perhaps it will cool down if there aren't enough companies to bring public out there,' Jablonski says. 'But as long as we see these innovative disruptors and there's demand from retail traders, I think SPACs are here to stay.'"
What Is Dogecoin? (CoinMarketCap.com)
"Dogecoin (DOGE) is based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin."
About Kronos Advanced Technologies, Inc.
The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the Company moved into the consumer air purification business. It began operations 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.
Recently, the Company filed for a provisional 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 offices are located in Los Angeles, California.
Shopping portal: https://www.1800safeair.com
Follow KNOS on Twitter: https://twitter.com/kronosati
Follow KNOS on Facebook: https://www.facebook.com/kronosati
Follow KNOS on Instagram: https://www.instagram.com/kronos_ati/
Follow KNOS on Youtube: https://www.youtube.com/channel/UCdtrQDt1R26Ulh8v-S-EpJg
Follow KNOS on Reddit: https://www.reddit.com/user/Kronos_ATI
Follow KNOS on LinkedIn: https://www.linkedin.com/company/kronos-advanced-techngologies-inc
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 Kronos Advanced Technologies Inc or any other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, nothing in this press release is intended to provide tax, legal, or investment advice, and nothing in it should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal, or tax situation.
Social Media Disclaimer and Forward-Looking Statements.
Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), through press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above. 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 statement 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.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
Phone inquiries: 1-800-SAFE-AIR (option #4)