NanoLogix Inc (NNLX)

[Emerald Isle]

Just saw this update:

Update On Petri FlatPack International Patent Status

Pursuant to NanoLogix' International Patent Offering

NanoLogix is pleased to announce payment yesterday (18 April 2018) of annuities for the FlatPack petri plate extended-life packaging patent in the EU and other granting countries. These annuity payments were made possible through a long time shareholder's efforts and the resulting receipt of funds by the Company from a new investor. The importance of the annuity payments cannot be overstated for the development of Nanologix --- sale and/or licensing of the FlatPack Patents internationally is projected to provide funding for the Company's expansion of agar-filled petri plate production in the USA and to complete development and pursue marketing of both the N-Assay modified ELISA rapid bacteria diagnostic test and its associated Pre-test.

Without the potential to monetize the international patent assets the Company's development would depend upon domestic organic growth only, a process that while steady, would not meet NanoLogix' needs for rapid expansion.


EI