Market Overview

Applied DNA Announces $1.65 Million Private Placement of Secured Convertible Notes


DNA Sciences
Inc., (NASDAQ:APDN, "Applied DNA" or the "Company")),
the leader in large-scale PCR-based DNA manufacturing, today announced
the closing in the amount of $1.65 million of secured convertible notes
(the "Notes") by way of a non-brokered private placement with accredited
investors and certain members of its management team and Board of
Directors, led by its Chairman, President and Chief Executive Officer.
The Company expects to use the proceeds for general corporate purposes.

"This investment enhances our balance sheet and supports our pursuit of
pre-commercial revenue opportunities in the synthetic textile,
pharmaceutical and legal cannabis markets that we believe will further
diversify our revenue streams beyond our core cotton market. Having
demonstrated success in penetrating large and developing markets with
substantial issues with supply chain security, such as the U.S. cotton
supply chain, our growing penetration of non-commodity markets offer a
path to revenue growth," said Dr. James A. Hayward, chairman, president
and chief executive officer of Applied DNA. "I want to thank the
participating members of the management team, Board of Directors and
outside investors for their very strong vote of confidence in the
Company's vision, growth strategy and market opportunity."

The Notes were issued on August 31, 2018, mature on August 30, 2021,
and, carry a coupon of 6.00%, payable semi-annually either in cash, or
in kind. Each Note, including interest, is convertible at the option of
the holder at any time prior to maturity into shares of Common Stock at
a conversion price of $2.50 per share. The Company has the right to
require the holders of the Notes to convert the Notes, including
interest, into shares of Common Stock at a conversion price of $2.50 per
share in the event that the Company's closing share price exceeds $3.50
for 20 consecutive trading days. The Notes will be secured by
substantially all assets of the Company.

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply
chain security, anti-counterfeiting and anti-theft technology, product
genotyping and DNA mass production for diagnostics and therapeutics.

Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help protect
products, brands, entire supply chains, and intellectual property of
companies, governments and consumers from theft, counterfeiting, fraud
and diversion. The proprietary DNA-molecular based "CertainT®"
platform can be used to identify, tag, test, and track products, to help
assure authenticity, origin, traceability, sustainability and quality of
products. SigNature® DNA describes the core technology
ingredient that is at the heart of a family of uncopyable, security and
authentication solutions such as SigNature® T and fiberTyping®,
targeted toward textiles and apparel, BackTrac™ and DNAnet®,
for anti-theft and loss prevention, and digitalDNA®,
providing powerful track-and-trace. All provide a forensic chain of
evidence, and can be used to prosecute perpetrators. Applied DNA
Sciences is also engaged in the large-scale production of specific DNA
sequences using the polymerase chain reaction.

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The Company's Common Stock and warrants are listed on the NASDAQ Capital
Market under the symbols APDN and APDNW, respectively.

Forward Looking Statements

The statements made by Applied DNA in this press release may be
"forward-looking" in nature within the meaning of the Private Securities
Litigation Act of 1995. Forward-looking statements describe Applied
DNA's future plans, projections, strategies and expectations, and are
based on assumptions and involve a number of risks and uncertainties,
many of which are beyond the control of Applied DNA. Actual results
could differ materially from those projected due to our history of
losses, limited financial resources, limited market acceptance, shifting
enforcement priorities of US federal laws relating to cannabis, and
various other factors detailed from time to time in Applied DNA's SEC
reports and filings, including our Annual Report on Form 10-K filed on
December 28, 2017 and our subsequent quarterly reports on Form 10-Q
filed on February 8, 2018, May 3, 2018 and August 13, 2018, which are
available at
APDN undertakes no obligation to update publicly
any forward-looking statements to reflect new information, events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events, unless otherwise required by law.

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