Applied UV, Inc. Announces Non-Binding Letter of Intent to Acquire the Airocide™ System for Airborne Pathogen Reduction

Mount Vernon, NY, November 4, 2020 – Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), an infection prevention technology company that applies the power of ultra violet C (“UV-C”) light utilizing its patented devices to destroy pathogens, including bacteria and viruses, safely, thoroughly, and automatically, today announced that in addition to its exclusive Joint Distribution and Licensing Agreement with Akida Holdings LLC, a privately-held corporation in Jacksonville, Florida (“Akida”) that was announced in a press release on September 8, 2020, it has signed a non-binding letter of intent (the “LOI”) to explore the possibility of acquiring  certain key assets of Akida, including Akida’s rights to the manufacture and sale of the Airocide™ System  of patented, air purification technologies, which may aid in the reopening of the global economy with applications in the hospitality, hotel, healthcare, nursing homes, grocer, wine, commercial buildings and retail sectors, for up to an estimated $12,000,000 of Applied UV stock which will likely include agreements to lock up such stock for a yet to be determined period of time.

Akida has agreed to cooperate with Applied UV’s due diligence process and not actively pursue parallel alternative sale or financing alternatives for the earlier of the executive of a definitive agreement and March 2, 2021.  

The Airocide™ system, originally developed for NASA by the University of Wisconsin, is an airborne pathogen killing technology that uses a patented combination of UVC and a proprietary, titanium dioxide based photocatalyst. The Airocide™ technology is clinically proven and field tested to kill/remove/eliminate airborne pathogenic and non-pathogenic microorganisms, allergens, odors and harmful VOC’s in a variety of applications and industries including healthcare, hospitality, grocery chains, wineries, commercial real estate, schools, dental offices, cannabis, and homes.  Airocide™ has been featured on “CNN”, “Fox News Networks”, “Maxim” and “The Ellen Show”.  The Airocide™ technology is widely accepted and is currently used by nationally recognized brands such as “Whole Foods”, “Delmonte”, “Dole”, “Chiquita”, “Opus One” “Sub-Zero Refrigerators” and “Robert Mondavi Wines” to name a few.  

The potential acquisition is exploratory and is subject to, among other things, the completion of due diligence, approval of the two companies’ boards, the negotiation and execution of a definitive agreement providing for the transaction, and satisfaction of any conditions negotiated therein. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.

About Airocide and Akida Holdings LLC

Akida Holdings LLC, headquartered in Jacksonville, Florida, owns the exclusive world-wide rights to a unique NASA developed air purification technology, Airocide™.  The Airocide™ technology has been clinically tested by the University of Wisconsin, Texas Tech University, and Texas A&M University.    Airocide’s patented technology has been proven to eliminate greater than 99.99%of certain biological contaminants that enter its system   Additional information can be found at www.airocide.com. Applied UV makes no representations with respect to the accuracy of the information on such website.

About Applied UV

Applied UV is focused on the development and acquisition of technology that address infection prevention in the healthcare, hospitality, commercial and residential markets. Our products utilize disinfection technology that applies the power of UVC to destroy pathogens safely, thoroughly, and automatically. The Company’s SteriLumen technology was tested at an independent laboratory that found the SteriLumen Disinfection System to be greater than 99.99% effective in killing the OC43 human coronavirus, a strain of human coronavirus that is genetically similar to SARS-CoV-2. According to the independent laboratory, it is expected that SARS-CoV-2, the virus that causes COVID-19 will be killed in a similar manner to OC43. The Company has two wholly owned subsidiaries; SteriLumen and Munn Works, LLC (“Munn Works”). SteriLumen develops disinfection devices and technology that combat hospital acquired infections (HAIs). We formed a team to solve and patent a product and process to neutralize pathogens providing a compelling solution for the hospitality space and a solid path to entering the healthcare market. MunnWorks manufactures fine mirrors specifically for the hospitality industry. Our goal, at Munn Works, is to contribute to the creation of what our design industry clients seek: manufacturing extraordinary framed mirrors. 

For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/ https://sterilumen.com/ and, https://munnworks.com/.

Forward-Looking Statements

The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.

Applied UV Investor Relations

TraDigital IR 
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

Disclaimer

This website is a wholly owned subsidiary of SCD Media, LLC, herein referred to as Smallcaps Daily. Our publications are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. We may receive compensation for this article on a PPC basis as an affiliate. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The disclaimer is to be read and fully understood before using our services, joining our site or our email/blog list as well as any social networking platforms we may use. PLEASE NOTE WELL: Smallcaps Daily and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever.Release of Liability: Through use of this website viewing or using you agree to hold Smallcaps Daily, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Smallcaps Daily encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and Smallcaps Daily makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provided herein. Instead Smallcaps Daily strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. Smallcaps Daily is compliant with the Can Spam Act of 2003. Salesparq, LLC does not offer such advice or analysis, and Smallcaps Daily further urges you to consult your own independent tax, business, financial and investment advisors. Investing in micro-cap and growth securities is highly speculative and carries and extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results.In preparing this publication, Smallcaps Daily, has relied upon information supplied by its customers, publicly available information and press releases which it believes to be reliable; however, such reliability cannot be guaranteed. Investors should not rely on the information contained in this website. Rather, investors should use the information contained in this website as a starting point for doing additional independent research on the featured companies. Smallcaps Daily has not been compensated for this article. The advertisements in this website are believed to be reliable, however, Smallcaps Daily and its owners, affiliates, subsidiaries, officers, directors, representatives and agents disclaim any liability as to the completeness or accuracy of the information contained in any advertisement and for any omissions of materials facts from such advertisement. Smallcaps Daily is not responsible for any claims made by the companies advertised herein, nor is Smallcaps Daily responsible for any other promotional firm, its program or its structure. Smallcaps Daily is not affiliated with any exchange, electronic quotation system, the Securities Exchange Commission or FINRA.