Technology

ATMOFIZER TECHNOLOGIES INC. ANNOUNCES HVAC MARKET DEVELOPMENT AND THIRD QUARTER 2022 FINANCIAL RESULTS

VANCOUVER, BC, Nov. 29, 2022 /PRNewswire/ – Atmofizer Applied sciences Inc. (the “Firm” or “Atmofizer“) (CSE: ATMO) (Frankfurt: J3K) (OTCQB: ATMFF) is happy to announce its latest progress in creating its know-how for the HVAC market and its monetary outcomes for the quarter ended September 30, 2022. All quantities are expressed in United States {dollars} except in any other case famous.

FORCED AIR (HVAC) MARKET DEVELOPMENTS

The Firm continues to transition the enterprise to its most dear addressable market to combine the agglomeration know-how into current pressured air programs. The Firm is able to concentrate on the third goal of our strategic plan: 1 – Show it, 2 – Shield it, 3 – Put it on the market.

PROVE IT

The Firm has been working intently with an HVAC service supplier in the USA. The Firm has validated the product market match and helped to develop the ultimate manufacturing design which may be put in in lower than quarter-hour by any HVAC service technician and promote for lower than different related equipment available in the market. The Firm has accomplished testing on the HVAC answer with nearly speedy agglomeration at air speeds constant or superior to most HVAC functions, significant enchancment of filter efficiency and enhance HVAC efficiency. The final section of complete third-party laboratory checks to independently certify the outcomes of this new product vary is scheduled for January 2023. The design may be simply tailored to develop past the residential HVAC market to service business, industrial and agricultural functions.

PROTECT IT

The Firm efficiently obtained its second US patent, its agglomeration know-how for built-in and HVAC functions. On August 23, 2022, the Firm introduced that the USPTO issued a Discover of Allowance for brand new claims associated to the Firm’s air and water purification know-how. This was adopted by a proper patent issuance on October 25, 2022. (U.S. Patent No. 11,478,742). The allowed patent utility, titled, “Extremely-Fantastic Particle Aggregation, Neutralization and Filtration” (US Patent Software No. 11,291,939) offers broad safety for vital points of Atmofizer’s air purification know-how. The Discover of Allowance from the USPTO is directed to a brand new design that delivers ultra-fine particle agglomeration and nanoparticle discount efficiency in bigger air ducts with faster-moving air, utilizing much less components.

PROMOTE IT

The HVAC answer has been designed to scale to different HVAC functions with an asset gentle technique that may goal current HVAC suppliers and producers with current distribution and scale. The Firm will look to accomplice to execute its asset gentle, know-how first method to license its patented know-how for top margin licensing alternatives. The Firm is within the closing levels of distribution discussions with a accomplice in the USA to launch its HVAC answer, to be introduced in the end.

CORPORATE DEVELOPMENTS

On August 23, 2022, the Firm introduced that the USPTO issued a Discover of Allowance for brand new claims associated to the Firm’s air and water purification know-how. The allowed patent utility, titled, “Extremely-Fantastic Particle Aggregation, Neutralization and Filtration” (US Patent Software No. 11,291,939) offers broad safety for vital points of Atmofizer’s air purification know-how. The latest Discover of Allowance from the USPTO is directed to a brand new design that delivers ultra-fine particle agglomeration and nanoparticle discount efficiency in bigger air ducts with faster-moving air, utilizing much less components. The Firm plans to market this patent to be licensed by air purification gadget producers, HVAC suppliers and repair firms. This was adopted by a proper patent issuance on October 25, 2022. (U.S. Patent No. 11,478,742). The allowed patent utility, titled, “Extremely-Fantastic Particle Aggregation, Neutralization and Filtration” (US Patent Software No. 11,291,939) offers broad safety for vital points of Atmofizer’s air purification know-how.

On August 25, 2022, the Firm introduced the most recent testing carried out by a third-party laboratory on Atmofizer ONE know-how demonstrated a larger than 4-log discount ( > 99.99%) in particularly focused microorganisms, together with gram-positive micro organism, gram-negative micro organism, and enveloped virus. The Atmofizer ONE is now marketed topic to the U.S. Meals and Drug Administration’s “Enforcement Coverage for Sterilizers, Disinfectant Gadgets, and Air Purifiers Through the Coronavirus Illness 2019 (COVID-19) Public Well being Emergency” (March 2020).

Atmofizer ONE Efficiency Replace

Atmofizer Efficacy Claims:

  • 99.99% discount of Klebsiella Aerogenes [gram-negative bacteria]

  • 99.99% discount of Staphylococcus Dermis [gram-positive bacteria]

  • 99.99% discount of Phi-6 Bacteriophage [enveloped virus, Surrogate for SARS-CoV-2]

Atmofizer SARS-CoV-2 Particular Efficacy Claims

  • Atmofizer reduces airborne SARS-CoV-2

  • Atmofizer destroys over 99.99% SARS-CoV-2 with out a filter

  • Atmofizer destroys SARS-CoV-2 by over 99.99% in 45 minutes

These outcomes are based mostly on third-party laboratory checks at 180 minutes of steady gadget operation. The FDA has not evaluated Atmofizer know-how. Atmofizer ONE has not been reviewed or authorised by the FDA. SARS-CoV-2 knowledge is predicated on Third-Social gathering Testing of Phi-6 Bacteriophage, a surrogate microorganism for SARS-CoV-2.

As of the 9 months ended September 30, 2022, the Firm had issued 46,791,500 widespread shares within the licensed share construction of the Firm (“Widespread Shares“) with gross proceeds of C$2,338,580 underneath the “at-the-market” fairness distribution program pursuant to a prospectus complement dated February 26, 2022 (the “ATM Program“).

FINANCIAL HIGHLIGHTS FOR QUARTER ENDED SEPTEMBER 30, 2022

For the three months ended September 30, 2022, the Firm generated nil income in comparison with $23,585 in income and a gross revenue of $6,810 (28.87%) in the course of the three months ended September 30, 2021.

Our preliminary launch of the transportable gadget utility which leveraged our patented agglomeration know-how to bunch collectively small particles and improve the affect of business ultra-violet know-how to neutralize viruses and micro organism by absorbing extra warmth. Regardless of the efficiency outcomes achieved by the know-how to ship and the elevated demand associated to the COVID-19 pandemic, the Firm was confronted with provide chain disruptions that had extreme impacts on aggressive market pricing the place conventional decrease value units, regulatory advertising and marketing declare uncertainty and lack of client data of revealed ends in the sector that severely impacted revenues. The 2 core gadget distributors had been affected by the beforehand reported provide chain disruptions highlighted in our second quarter MD&A which affected their skill to transform their gross sales pipeline into income. Demand for air air purifier units has softened because the decline in COVID-19. In gentle of the poor gross sales efficiency from the Firm’s foremost distributor, USA Tech Direct, the Firm and USA Tech Direct have determined to section out their distribution relationship.

As well as, the Firm was profitable in securing a further US patent on its agglomeration know-how inside an HVAC utility. On August 23, 2022, the Firm introduced that the USPTO issued a Discover of Allowance for brand new claims associated to the Firm’s air and water purification know-how. This was adopted by a proper patent issuance on October 25, 2022. (U.S. Patent No. 11,478,742). The allowed patent utility, titled, “Extremely-Fantastic Particle Aggregation, Neutralization and Filtration” (US Patent Software No. 11,291,939) offers broad safety for vital points of Atmofizer’s air purification know-how. The latest Discover of Allowance from the USPTO is directed to a brand new design that delivers ultra-fine particle agglomeration and nanoparticle discount efficiency in bigger air ducts with faster-moving air, utilizing much less components. The Firm plans to market this patent to be licensed by air purification gadget producers, HVAC suppliers and repair firms. The Firm expects that the applying of its agglomeration know-how within the HVAC market is a bigger market alternative than the air air purifier market in the USA. Merchandise can be out there for this market alternative within the first quarter of 2023.

Through the 9 months ended September 30, 2022, the Firm generated income of $210,000 with a gross revenue of $60,293 (28.71%) in comparison with $76,585 with a gross revenue of $27,298 (35.64%) in the course of the 9 months ended September 30, 2021.

The Firm incurred $4.5 million in bills in the course of the three months ended September 30, 2022, in comparison with $2.1 million in the course of the three months ended September 30, 2021. The rise of $2.4 million improve in bills was pushed primarily by a rise in share-based funds of $2.5 million, a rise in amortization of $0.2 million and impairments of inventories and receivables of $0.4 million and a rise in salaries and wages of $0.2 million. There have been vital decreases over the earlier quarter in administration charges ($0.4 million), consulting charges ($0.3 million) {and professional} charges ($0.2 million). The Firm has centered on lowering working bills and excluding amortization bills, impairments of inventories and receivables and share-based funds, working bills had been lowered by $0.8 million in the course of the quarter ended September 30, 2022. As well as, in the course of the three months ended September 30, 2022, the Firm acknowledged an impairment of receivables of $0.1 million and impairment of inventories of $0.3 million. No such impairment was acknowledged in earlier 12 months.

The Firm incurred $16.1 million in bills in the course of the 9 months ended September 30, 2022, in comparison with $5.9 million in the course of the 9 months ended September 30, 2021. The rise of $10.2 million in bills was pushed primarily by share based mostly funds of $9.3 million and $1.6 million in gross sales and advertising and marketing expense of which $1 million was paid by issuing the Widespread Shares. There have been vital decreases over the earlier 12 months in consulting charges ($1.1 million), administration charges ($0.9 million) and analysis and improvement bills ($0.5 million). The Firm has centered on lowering working bills and excluding amortization bills, impairments of inventories and receivables and share-based funds, working bills had been lowered by $1.4 million for the 9 months ended September 30, 2022.

Through the three months ended September 30, 2022, the Firm recorded internet lack of $4.6 million in comparison with a internet lack of $2.1 million for the three months ended September 30, 2021. The largest contributors to the rise within the internet lack of $2.5 million had been share-based funds of $2.5 million, salaries and wages of $0.2 million, impairment fees of $0.4 million and amortization of $0.2 million, which had been offset by a lower in administration charges ($0.4 million), consulting charges ($0.3 million) {and professional} charges ($0.2 million).

Through the 9 months ended September 30, 2022, the Firm recorded internet lack of $16.1 million in comparison with a internet lack of $5.9 million for the 9 months ended September 30, 2021. The largest contributors to the rise within the internet lack of $10.2 million had been share-based funds of $9.0 million, gross sales and advertising and marketing of $1.3 million, salaries and wages of $0.8 million, impairment fees of $0.9 million and amortization of $0.7 million, which had been offset by a lower in administration charges ($0.9 million), consulting charges ($1.1 million) and analysis and improvement ($0.5 million).

“The Firm achieved a variety of vital know-how improvement milestones in the course of the second quarter of 2022. Our science workforce continued to make vital developments to show and productize our know-how to attain our final purpose of delivering cleaner air, vitality financial savings and improved effectivity in the course of the quarter. We’re doing this by increasing past our equipment enterprise and into the multi-billion greenback HVAC business. We not too long ago obtained a Discover of Allowance for brand new claims associated to the Firm’s air purification know-how from the USPTO. The latest Discover of Allowance from the USPTO is directed to a brand new design that delivers ultra-fine particle agglomeration and nanoparticle discount efficiency in bigger air ducts with faster-moving air, utilizing much less components,” mentioned Atmofizer CEO, Olivier Middle. “The Firm plans to market this patent to be licensed by air purification gadget producers, HVAC suppliers and repair firms. Our first precedence is to leverage our sturdy relationships with HVAC distribution companions to commercialize our nano particle agglomeration know-how by means of licensing. With respect to our equipment enterprise, we skilled head winds from each provide chain associated points in addition to regulatory points. We see ourselves now in a greater place to work with our distributors underneath the FDA’s Air Air purifier Coverage and ship equipment gross sales in addition to having extra equipment stock readily available to promote by means of. We proceed to comply with our asset gentle goal of creating new clear know-how and licensing or partnering with business leaders to scale sooner and capital effectively.”

SUBSEQUENT EVENTS

On November 4, 2022, the Firm offered a property based mostly in Mississauga, Ontario (the “Mississauga Property“) for C$575,000 to an actual property developer (the “Purchaser“). The Firm obtained $150,000 instantly upon closing and agreed to offer the Purchaser a six-month 7.5% first rating vendor-take again mortgage towards the Mississauga Property for the steadiness of the proceeds of $425,000. The mortgage matures on Could 1, 2023. The Mississauga Property was a non-core asset of the Firm, which two of its subsidiaries acquired title to pursuant to a legacy possibility settlement for nil consideration instantly previous to the sale transaction.

About Atmofizer Applied sciences Inc.

Atmofizer’s client and industrial options are based mostly on its patent-protected and patent pending know-how for ultrafine particle agglomeration and neutralization. This functionality creates a revolutionary and extra environment friendly methodology for addressing the wide selection of harmful nano-scale particles, viruses and micro organism which are too small to be successfully managed by typical HEPA filters and ultraviolet lights. Atmofizer plans to disrupt the air remedy business by enhancing air security and purification effectivity whereas reducing clients’ operational prices.

Atmofizing air refers back to the technique of utilizing ultrasonic acoustic waves to agglomerate (cluster collectively) small particles into a bigger goal that’s then radiated by ultraviolet gentle to neutralize their dangerous properties, making the air you breath much less hazardous to your well being. Utilizing models that atmofize air in tandem with excessive effectivity particulate air (“HEPA“) filters could make the HEPA filters work extra effectively, allow the usage of a less-powerful filter and lead to a cleaner and longer-lasting filter that reduces working prices and is much less of a well being hazard to scrub or exchange.

Atmofizer is patent-pending and patent-protected sole supply of know-how to atmofize air and is making use of its proprietary know-how in client and industrial air purification merchandise at present manufactured underneath the Atmofizer model, in addition to in retail and business units produced by different firms that combine Atmofizer know-how into their very own merchandise underneath license. Atmofizer’s owned and licensed product strains embrace wearable, transportable and cellular use for private air remedy, in addition to bigger programs to deal with larger air volumes for business, industrial, institutional and residential functions.

Ahead-Wanting Info

This press launch incorporates “forward-looking data” inside the that means of relevant securities legal guidelines. All statements contained herein that aren’t clearly historic in nature might represent forward-looking data. In some instances, forward-looking data may be recognized by phrases or phrases akin to “might”, “will”, “anticipate”, “possible”, “ought to”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “consider” or the unfavourable of those phrases, or different related phrases, expressions and grammatical variations thereof, or statements that sure occasions or circumstances “might” or “will” occur, or by discussions of technique. The forward-looking data contained herein consists of, with out limitation, the enterprise and strategic plans of the Firm.

By their nature, forward-looking data is topic to inherent dangers and uncertainties which may be normal or particular and which give rise to the likelihood that expectations, forecasts, predictions, projections or conclusions won’t show to be correct, that assumptions will not be right and that aims, strategic objectives and priorities won’t be achieved. Quite a lot of components, together with recognized and unknown dangers, a lot of that are past our management, may trigger precise outcomes to vary materially from the forward-looking data on this press launch together with, with out limitation: the Firm’s skill to adjust to all relevant legal guidelines and governmental rules referring to its business merchandise; the flexibility of the Firm to guard its mental property; impacts to the enterprise and operations of the Firm as a result of COVID-19 pandemic; the battle in japanese Europe; having solely a restricted working historical past, the flexibility of the Firm to entry capital to satisfy future financing wants; the Firm’s reliance on administration and key personnel; competitors; adjustments in client developments; overseas forex fluctuations; and normal financial, market or enterprise circumstances.

Further threat components may also be discovered within the Firm’s steady disclosure paperwork, which have been filed on SEDAR and may be accessed at www.sedar.com. Readers are cautioned to think about these and different components, uncertainties and potential occasions fastidiously and to not put undue reliance on forward-looking data. The forward-looking data contained herein is made as of the date of this press launch and is predicated on the beliefs, estimates, expectations and opinions of administration on the date such forward-looking data is made. The Firm undertakes no obligation to replace or revise any forward-looking data, whether or not on account of new data, estimates or opinions, future occasions or outcomes or in any other case or to elucidate any materials distinction between subsequent precise occasions and such forward-looking data, besides as required by relevant legislation.

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SOURCE Atmofizer Applied sciences Inc.

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