LINDON, UT--(Marketwired - February 02, 2017) - ZYTO Corp (OTC PINK: ZYTO) (www.ZYTO.com).
ZYTO Corporation announced today that after acquiring Kailo Energy, it has divested itself of its health and wellness business. The health and wellness subsidiaries were acquired by Sunflower Health, LLC pursuant to a stock purchase agreement. The ZYTO name and branding will follow the health and wellness business to Sunflower Health while the public company will seek a name change to Kailo Energy Inc. Sunflower Health is controlled by Dr. Vaughn R Cook, the former Chief Executive Officer of ZYTO Corporation. "I look forward to leading the ZYTO health and wellness operation going forward," said Dr. Cook.
Pursuant to the change in business focus, Kami Howard announced that she will be stepping down as President and from the board of directors of the public company old ZYTO/Kailo Energy and will accept the position as President of Sunflower Health LLC/new ZYTO. According to Ms. Howard, "The transition through this corporate reorganization and buyout will be seamless and unnoticed by our customers."
Ryan Shepherd, the Chief Executive Officer and new board member of Kailo Energy (the ZYTO Corporation public company), said "The renewable energy business is growing rapidly. I look forward to vitalizing shareholder value in both the short and long term." Dr. Cook and Hammad Shah will remain on the board of directors of Kailo Energy.
If you have any questions about the transaction, you may contact Adam Ford 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.