Kronos Advanced Technologies Inc. (OTC: KNOS) has announced its decision to accept Shiba Inu (SHIB) cryptocurrency as a payment method for its air purifiers.
Kronos is engaged in the development, manufacturing, and distribution of advanced air purification and filtration systems. The company, founded in 1980, aims to address air quality issues by providing devices that eliminate allergens, bacteria, viruses, and other contaminants from indoor air. Their product line includes air purifiers and personal protective equipment like self-sterilizing graphene air purification devices.
Kronos has received FDA 510(k) Class II medical device clearance for certain products, ensuring their effectiveness in reducing airborne pathogens. The company markets its products directly through its website and independent sales representatives, focusing on both residential and commercial markets.
Despite a relatively small market capitalization and low revenue, Kronos operates in a growing market driven by increasing awareness of air pollution and its health impacts. The company has experienced significant stock price volatility and has undergone shareholder dilution in the past year. Recent innovations include a wearable bio-aerosol real-time sensor and air purifiers tailored for specific environments such as Bitcoin mining farms.
According to the a recent press release issued by the firm, this move makes it “the first public company to accept the SHIB token.” Kronos states that, as of 2024, there are approximately 1.38 million Shiba Inu wallet holders.
In its announcement, Kronos Advanced Technologies describes SHIB as a decentralized cryptocurrency that has gained a significant following. The company says it recognizes the potential of this payment method and wants to offer its customers a new way to purchase its products. Kronos reports that this decision is part of its effort to adapt to the digital age and provide what it calls a seamless and secure transaction experience.
Greg Rubin, CEO of Kronos Advanced Technologies Inc., is quoted as saying the company is “thrilled” to be the first public company to accept SHIB as a form of payment for its air purification products. In his statement, Rubin suggests this move demonstrates the company’s commitment to new technologies and caters to demand for alternative payment options.
To mark this announcement, Kronos Advanced Technologies says it will offer a promotional 10% discount for customers who choose to pay with SHIB. The company describes this as a limited-time offer, without specifying the duration of the promotion.
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