LINDON, UT--(Marketwired - January 16, 2017) - ZYTO Corp (OTC PINK: ZYTO) (www.ZYTO.com).
ZYTO Corporation announced today that it intends to follow its acquisition of Kailo Energy with a new business focus on solar energy. ZYTO also announced that it has entered discussions with Sunflower Health LLC, a Utah limited liability company controlled by Dr. Vaughn R Cook, the former Chief Executive Officer of ZYTO, regarding the sale of substantially all of its health and wellness related businesses. Dr. Cook is the founder of ZYTO Corp and holds the patent key to its most valuable health and wellness products.
New ZYTO Chief Executive Officer, Ryan Shepherd, said, "As we pivot into the exciting and fast growing solar energy and energy storage businesses, it makes sense to divest ourselves of the alternative health and wellness business. We hope to reach terms favorable to our shareholders with Dr. Cook shortly."
ZYTO Corp's solar division, known as Kailo Energy, has developed a solar rechargeable mobile power storage unit and is developing a complete smart home energy solution which will allow home owners to fully control the collection, storage and use of their electricity. Kailo Energy systems will allow home owners to decide from which source they collect their energy (solar, grid or any other energy source) and how they manage and use their electricity. Kailo Energy's proprietary electronics and high-tech software system will take advantage of the booming solar energy market. More information about Kailo can be found at www.kailoenergy.com.
If you have any questions about this transaction, you may contact Adam Ford, ZYTO general counsel, at 801-224-7199. You may also send an e-mail to info@ZYTO.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to marketing and sales activities by ZYTO's marketing partners, ZYTO product development launches, future growth and research, and enhanced value for ZYTO's stockholders are forward-looking statements. Such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time. ZYTO disclaims any obligation or intention to update any forward-looking statement contained in this release.