Dais Analytic is in default under $3 million convertible promissory

By Devika Patel

Knoxville, Tenn., Jan. 26 - Dais Analytic Corp. is in default on $3 million in convertible promissory notes it sold in a private placement, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company said in the filing that the notes matured in December and January, but that Dais Analytic was unable to pay the amounts due.

It also said that certain investors are asserting their rights to be paid.

The company is proposing the holders either convert their notes into shares in exchange for additional warrants or extend the maturity of the notes and continue to accrue interest.

Dais Analytic is based in Odessa, Fla.

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