Applied UV Declares Monthly Preferred Stock Dividend

Applied UV, Inc. (NasdaqCM:AUVI) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, today announced its Board of Directors has authorized the cash dividend to holders of Applied UV's 10.5% Series A Cumulative Perpetual Preferred Stock

Holders of the 10.5% Series A Cumulative Perpetual Preferred Stock (Nasdaq:AUVIP) shall receive a cash dividend equal to $0.21875 per share.

The preferred dividend will be paid on or about February 15, 2022, to respective holders of record at the close of business on February 4, 2022.

About Applied UV

Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. ("SteriLumen") and Munn Works, LLC ("Munn Works"). SteriLumen's connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company's Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices' proximity. The Company's patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location. SteriLumen's Airocide® products for air purification, developed for NASA and FDA Cleared as class II medical devices, utilize a proprietary photo-catalytic bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous pathogens, destructive VOCs and biological gasses into harmless water vapor without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, and homes.

For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; https://www.airocide.com https://kesscience.com; https://scientificairmanagement.com and, https://munnworks.com/.

Forward-Looking Statements

The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.

For additional Company Information:

Applied UV Inc.
Max Munn
Applied UV Interim CEO
m.munn@sterilumen.com

Applied UV Investor Relations
Kevin McGrath

TraDigital IR
+1-646-418-7002
kevin@tradigitalir.com

SOURCE: Applied UV Inc.

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Applied UV NCM:AUVI Emerging Tech Investing

AUVI

Applied UV's Airocide® and Lumicide Address CDC's Recommendation for Handling Environments Contaminated by Monkeypox

Applied UV, Inc. (NasdaqCM: AUVI ) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically affirms that its pathogen killing technology SteriLumen's Airocide® and Lumicide are highly effective, differentiating solutions for addressing recent recommendations from the Centers for Disease Control (CDC) for cleaning and disinfecting settings that may be contaminated with Monkeypox and other orthopoxviruses.

In a recent publication, available here , the CDC provided considerations for disinfecting settings that may be contaminated with Monkeypox virus and highlighted the virus' sensitive to UV light, disinfectants and household cleaners in a tweet available here .

News Provided by Business Wire via QuoteMedia

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Applied UV Declares Monthly Preferred Stock Dividend

Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light (“UVC”) for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, today announced its Board of Directors has authorized the cash dividend to holders of Applied UV’s 10.5% Series A Cumulative Perpetual Preferred Stock.

Holders of the 10.5% Series A Cumulative Perpetual Preferred Stock (Nasdaq: AUVIP) shall receive a cash dividend equal to $0.21875 per share.

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Applied UV, Inc. and Subsidiaries Unaudited Condensed Consolidated Balance Sheets As of June 30, 2022 and December 31, 2021

	2022			2021
Assets
Current Assets
Cash and cash equivalents	$	3,122,761		$	7,922,906
Restricted cash		120,750			845,250
Accounts receivable, net of allowance for doubtful accounts		1,970,542			986,253
Costs and estimated earnings in excess of billings		443,572			—
Inventory, net		4,677,894			1,646,238
Vendor deposits		497,154			992,042
Prepaid expense and other current assets		482,310			419,710
Total Current Assets		11,314,983			12,812,399

Property and equipment, net of accumulated depreciation		1,228,127			196,611
Goodwill		3,722,077			4,809,811
Other intangible assets, net of accumulated amortization		18,093,270			18,976,556
Right of use asset		2,648,441			1,730,615
Total Assets	$	37,006,898		$	38,525,992

Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable and accrued expenses	$	2,410,980		$	1,642,108
Contingent consideration		—			1,460,000
Billings in excess of costs and earnings on uncompleted contracts		772,363			—
Deferred revenue		1,476,270			788,776
Due to landlord (Note 2)		201,640			—
Warrant liability		56,546			68,263
Financing lease obligations		4,178			7,671
Operating lease liability		1,528,886			389,486
Note Payable		97,500			97,500
Total Current Liabilities		6,548,363			4,453,804
Long-term Liabilities
Due to landlord-less current portion (Note 2)		514,740			—
Note payable- less current portion		60,000			60,000
Operating lease liability-less current portion		1,138,298			1,346,428
Total Long-Term Liabilities		1,713,038			1,406,428
Total Liabilities		8,261,401			5,860,232

Stockholders' Equity
Preferred stock, Series A Cumulative Perpetual, $0.0001 par value, 19,990,000 shares authorized, 552,000 shares issued and outstanding as of both June 30, 2022 and December 31, 2021		55			55
Preferred stock, Series X, $0.0001 par value, 10,000 shares authorized, 2,000 shares issued and outstanding as of both June 30, 2022 and December 31, 2021		1			1
Common stock $.0001 par value, 150,000,000 shares authorized; 12,930,674 shares issued and 12,817,189 shares outstanding as of June 30, 2022, and 12,775,674 shares issued and outstanding as of December 31, 2021		1,294			1,278
Treasury stock at cost, 113,485 shares as of June 30, 2022 and 0 shares as of December 31, 2021		(149,686	)		—
Additional paid-in capital		44,370,056			42,877,622
Accumulated deficit		(15,476,223	)		(10,213,196	)
Total Stockholders' Equity		28,745,497			32,665,760
Total Liabilities and Stockholders' Equity	$	37,006,898		$	38,525,992

Applied UV, Inc. and Subsidiaries Unaudited Condensed Interim Consolidated Statements of Operations For the Three and Six Months Ended June 30, 2022 and 2021

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Net Sales	$	5,907,646		$	1,884,320		$	9,263,736		$	4,196,935
Cost of Goods Sold		4,603,854			1,351,091			6,810,845			2,739,440
Gross Profit		1,303,792			533,229			2,452,891			1,457,495

Operating Expenses
Research and development		82,049			9,763			141,363			53,408
Selling, general and administrative expenses		4,031,215			2,698,482			7,132,441			4,299,999
Loss on impairment of goodwill		—			—			1,138,203			—
Total Operating Expenses		4,113,264			2,708,245			8,412,007			4,353,407

Operating Loss		(2,809,472	)		(2,175,016	)		(5,959,116	)		(2,895,912	)

Other Income (Expense)
Change in Fair Market Value of Warrant Liability		(32,111	)		10,948			11,717			(300,452	)
Interest expense		(49,020	)		—			(53,076	)		—
Loss on change in Fair Market Value of Contingent Consideration		—			—			(240,000	)		—
Gain on Settlement of Contingent Consideration (Note 2)		—			—			1,700,000			—
Other Income		1,948			25,837			1,948			25,182
Total Other Income (Expense)		(79,183	)		36,785			1,420,589			(275,270	)

Loss Before Provision for Income Taxes		(2,888,655	)		(2,138,231	)		(4,538,527	)		(3,171,182	)
Provision from Income Taxes		—			—			—			—
Net Loss	$	(2,888,655	)	$	(2,138,231	)	$	(4,538,527	)	$	(3,171,182	)

Net Loss attributable to common stockholders:
Dividends to preferred shareholders		(362,250	)		—			(724,500	)		—
Net Loss attributable to common stockholders		(3,250,905	)		(2,138,231	)		(5,263,027	)		(3,171,182	)
Basic and Diluted Loss Per Common Share	$	(0.26	)	$	(0.23	)	$	(0.41	)	$	(0.35	)
Weighted Average Shares Outstanding - basic and diluted		12,665,385			9,407,367			12,799,783			9,102,677

Applied UV Declares Monthly Preferred Stock Dividend

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