1000% disagree - as I said in a previous post - NNLX has the potential for multiple revenue streams. Here is one currently that is bringing in revenue:
NanoLogix Sells Certain Medical Test-Kit Patents And Extends Licenses on Others
SHARON, Pa., Jan 25, 2006 (BUSINESS WIRE) -- NanoLogix, Inc. (Pink Sheets:NNLX) today announced that it has signed a definitive agreement to sell part of its Medical Test Kit patent portfolio and license other key patents to Nutra Pharma Corp. (OTCBB:NPHC), a Boynton Beach, FL-based biotechnology company. According to the terms of the agreement, NanoLogix will sell eleven key test-kit patents to Nutra Pharma in consideration for that company's entire NanoLogix common stock holdings, approximately 4.5 million shares, plus a 6% royalty on the gross sales of the subject products. Based upon NanoLogix's closing price on Tuesday of $.14, total consideration dollar value for the sold patents is a minimum of $630,000.00 USD. The terms also include a license back, relative to NanoLogix's current pursuits.
Additionally, NanoLogix has agreed to license eighteen other key test-kit patents to Nutra Pharma in consideration for a 6% royalty on the gross sales of the products based on the licensed technology and an option to purchase 1 million options of Nutra Pharma restricted common at $.20 per share.
The agreement, finalized on Tuesday, enables NanoLogix to continue its use of its retained patents for all future technology development unrelated to medical diagnostic test kits, and successfully returns approximately 4.5 million shares to the company's treasury.
Their Hydrogen patented tech is revolutionary and if the test results are good we will see $1.00+ very, very quickly. I will feel sorry for those not in.
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