SEATTLE--(BUSINESS WIRE)--Know Labs, Inc. (OTCQB: KNWN), an emerging leader in non-invasive medical diagnostics, through its patented and patent pending electromagnetic energy technology platforms, announced today that it intends to list on a major national exchange, either NASDAQ or the NYSE, and is beginning the listing application process. Additionally, the Company highlighted recent accomplishments and issued its first public statement on the activities of its subsidiary corporation, Particle, Inc. which has, until now, been in stealth mode.
Uplist to a Major Exchange
The Company has begun the process for an uplisting on a major national exchange; either NASDAQ or the NYSE. Listed companies must meet financial and liquidity requirements and satisfy corporate governance and disclosure requirements on both an initial and continuing basis.
The listing of the Company's common shares on a national exchange is subject to exchange approval and the ability of the Company to satisfy all applicable listing and regulatory
requirements. While the Company intends to satisfy all of the applicable listing criteria, there is no assurance that a national exchange will approve the Company's application or that the
Company will complete the listing as proposed.
Know Labs management believes uplisting to a national exchange will:
- Provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally;
- Increase the visibility of the Company, its growth strategy, accomplishments and results to date;
- Enable an aggressive growth strategy;
- Increase liquidity of the Company's common shares; and
- Raise the Company's overall profile and ultimately enhance shareholder value.
"Today's announcement is a significant milestone in our efforts to build Know Labs’ patented platform technology into an industry-leading provider of the next generation of continuous, real-time, non-invasive health monitoring solutions to address the unmet needs of millions of people facing challenging health conditions,” said Ron Erickson, Chairman and Founder of Know Labs. "In addition to increasing our visibility in the marketplace, the uplisting should improve the liquidity of our stock, broaden our institutional shareholder base, and augment long-term shareholder value."
Company Highlights
- Received foundational patent on its Bio-RFID™ technology (US Patent No. 10,548,503 B2, entitled “Health Related Diagnostics Employing Spectroscopy in Radio/Microwave Frequency Band”) and continued work to expand its IP portfolio. Currently, the Company has more than 30 patents pending in their core focus on the use of electromagnetic energy to accurately identify and measure a broad range of in vivo biomolecules in the advancement of real-time, continuous health monitoring.
- Closed a $5.7 million financing on favorable terms to support the advancement of the Company’s efforts to bring non-invasive glucose monitoring to the marketplace.
- Developed relationships with internationally recognized clinical research institutions to perform laboratory-based validation testing to confirm internal test results.
- Continued work on miniaturization of the Know Labs UBAND™ technology, internal testing and refinement of the use of its trade secret algorithms for exacting determination of blood glucose levels.
- Formed the Particle, Inc. subsidiary to further expand and monetize Know Labs intellectual property.
- Secured a team and resources to advance the Particle, Inc. commercialization activities.
Particle, Inc.
Formed in May 2020 and built upon the intellectual property of Know Labs, the independent team at Particle, Inc. has worked for the past 9 months to bring to market a disinfecting light bulb that can screw into existing fixtures in your home, office, or business. The Particle™ bulb is a hybrid light bulb that emits warm white light for everyday use and can kill viruses, bacteria, and germs, without harm to you or your family.
Through internal preliminary testing, Particle, Inc. has confirmed the bulb’s efficacy in disinfecting common germs such as E. coli and Staphylococcus. A world renowned, CDC-regulated biosafety level-4 laboratory is currently testing the Particle bulb’s ability to deactivate SARS-CoV-2, the virus that causes COVID-19.
“Particle is the world’s first hybrid light bulb that blends everyday light with disinfecting power, giving it not just a pleasing aesthetic but also valuable utility, opening the door to a cleaner life.” - Phil Bosua
Phil Bosua, Know Labs CEO and the inventor behind the first smart light bulb stated, “I had previously developed a light bulb that kills viruses and bacteria. When the coronavirus pandemic swept the world, we decided the time was right to truly revolutionize lighting as we know it. All of the internal testing we have conducted has been extremely positive and we expect results from an independent laboratory in the coming weeks. We brought together a talented team that is excited to introduce the Particle bulb to the market. It is the first of several products from Particle that I believe will make the space you inhabit safer for you and your family.”
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade under the stock symbol “KNWN.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent pending technology makes it possible to effectively conduct analyses that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The Company’s first product will be the non-invasive UBAND™ Continuous Glucose Monitor (CGM). Those wishing to stay up to date on the developments at Know Labs can subscribe to the Company’s YouTube channel at this link. For more information, visit the company’s website at www.knowlabs.co.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Know Labs, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of products. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Know Labs, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2020, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at www.knowlabs.co. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
