NanoLogix Issues Shareholder Information
SHARON, PA -- NanoLogix, Inc. (PINKSHEETS: NNLX) is pleased to issue the following update in an effort to provide its shareholders with greater understanding of its business plan and its corporate strategy over the coming year.
Dear NanoLogix Shareholders,
It is with great pleasure that I provide you with an update on NanoLogix’s business development initiatives. We believe we have reached a juncture where our efforts are being crystallized into decisions and actions, which will pave the way for the success all shareholders are anticipating can be achieved.
Here is a brief introduction to and progress on our many initiatives
-- The status of our beta operation at Welch’s plant in North East, Pa.
continues to provide positive results and significant research data which
will enable NanoLogix to expand by installing a hydrogen bioreactor at
other locations throughout the World.
-- The Company is currently engaged in a number of strategic
negotiations, as it has proactively pursued opportunities to establish a
strong product line of medical products.
-- The Company’s goal to expand its product development to include the
conversion of gas powered engines to utilize hydrogen was achieved and our
first sale was recently made. I am pleased to report these efforts have
laid a foundation for solid revenue growth for the future.
-- We are pleased to announce after many meetings and providing
supporting data, a U.S. Congressional Representative has introduced our
concept to the Department of Energy for further evaluation.
-- Our sales and marketing efforts are beginning to show significant
opportunities in the European markets. A major winery has indicated an
interest in utilizing NanoLogix technology to create hydrogen from grape
residue. Additionally, we are in active discussions to joint venture for
various hydrogen projects throughout Europe.
-- The Company’s Board of Directors underwent a substantial
reorganization such that it now includes 5 members. I am pleased to welcome
Mr. Bret Barnhizer and Mr. Dana Allen to NanoLogix’s Board of Directors.
-- In January we retained an accounting firm that is reviewing all of our
books and will assist us in organizing our financial documents, all of
which will allow NanoLogix to file the appropriate documents with the
Securities and Exchange Commission and become a fully reporting company.
-- On February 12th we held an information meeting with shareholders in
Sarasota, Florida. I am pleased to announce we had a positive turnout and
received many emails and telephone calls regarding NanoLogix.
The Company is committed to increase its position in its respective market segments, broaden the clinical pipeline in infectious diseases, and enhance the international marketing and distribution network to fully capitalize on the commercial potential as related to the benefits of hydrogen.
In short, while there’s much more to be done, much also has been accomplished and the momentum toward success is building. We believe more strongly than ever that your patience will be rewarded as the results of our efforts unfold in the period ahead.
On behalf of the Company’s Senior Management team, Board of Directors and employees, I would like to thank you for your continued support at this time of tremendous growth and opportunity for NanoLogix.
Mitchell Felder, M.D.
Chairman of the Board & CEO
About NanoLogix, Inc.:
NanoLogix is an industry innovator in the research, development and commercialization of nano-biotechnologies, applications and processes. The Company owns or has the rights to 32 patented technologies. The Company is currently focused on the production of hydrogen from agricultural feedstock, industrial wastewater and municipal waste streams to create new sources of energy. NanoLogix is presently operating a hydrogen bioreactor at Welch’s Food and has recently signed an agreement with the City of Erie Wastewater Treatment Plant for a prototype bioreactor installation. Additionally, NanoLogix develops and markets diagnostic test kits for use in early detection of infectious human diseases such as cancer, cystic fibrosis and AIDS, and owns a patent for the non-toxic induction of apoptosis (’cell suicide’) for the treatment of cancer. For more information on the Company, visit http://www.nanologix.net.
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of NanoLogix, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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