New Update from the company
Due to ongoing shareholder requests NanoLogix is providing the following information as a company update:
Re: The earlier mentioned project to configure the N-Assay for one of the World's two largest medical technology companies has reached its final stages. NanoLogix has received two of three development funding payments from our client for the diagnostic kit configuration for the first target bacteria. After a 90-day development process at a third-party lab, we have received the antibody serum necessary to complete the kit configuration. What remains to be done are established proprietary steps to finalize what we will provide. These steps are necessary in the case of the initial bacteria chosen by our client PRECISELY because there were no existent antibodies available commercially. The entire process should be complete within a month to the point where NanoLogix then will furnish a small number of the N-Assay kits to the client for their own in-house testing. At that time NanoLogix will invoice for the third tranche payment. Upon successful completion of testing by our client we anticipate two events to occur. These are: (1) purchase of kits (thousands) for the the first bacteria and (2) an additional, and expanded, development agreement from the client for configuration of the N-Assay for at least two additional target bacteria.
NanoLogix is also in the final N-Assay configuration stages for detection of E-coli 0157 at the request of, and for use by, a US Federal Agency. A number of the assays will be sent to the agency within three weeks for their testing evaluation.
We receive queries pertaining to the N-Assay asking why bacteria and yeast detection and identification testing results are not posted on our website. Regardless of how stunning in speed, accuracy, and sensitivity the N-Assay results are over ANY existing commercial tests, the simple answer is we are not permitted to post the results prior to publication of our research studies in a peer-reviewed scientific/medical journal. We have been informed that doing so would constitute publication ahead of the journal. Rather than risk jeopardizing journal publication to satisfy the desires of a few over the long term interests of many, we will refrain from posting of test results until journal publication.
