UV Flu Technologies, Inc. (OTCBB: UVFT) (“UVFT”) has signed a letter of intent with a distribution partner for the exclusive rights for retail distribution of UVFT’s FDA-cleared ViraTech™ UV-400 air purifier that kills more than 99% of airborne bacteria. The distributor has paid a non-refundable $25,000 deposit and the distribution agreement is expected to close by April 21st.
Highlights of the proposed distribution agreement include:
“The closure of this deal will be the culmination of months of work and will powerfully launch UVFT into its next stages of growth,” stated Michael Ross, CEO for UV Flu. “The distributor will be making a major commitment to the marketing of our product to achieve steady sales, support increased production and drive large-scale growth.”
Ross noted, “Bringing the ViraTech UV-400 to mass market took considerable effort from many parties. Working closely with our manufacturer, GFL Lighting, we have been able to bring the manufacturing cost of the UV-400 down 30 percent making it more attractive to distributors and a mass-market consumer. Adding the RX300 will further enhance our product line. The majority of the development of the RX300 unit was completed over the last two years and we were looking to secure a distribution agreement prior to bringing it to market. We have already identified a partner interested in assisting in the funding of the RX300 tooling phase.”
Ross stated, “Over the past months as the new CEO, three of my major goals have been to reduce UVFT’s cash burn by 70 percent, eliminate debt and bring the company’s flagship product to market. This deal would complete all three of those goals.”
Kills greater than 99% of bacteria on a first-pass basis. Changes the very air you breathe.LEARN MORE