NanoLogix Inc (NNLX)

[Emerald Isle]

Sadpepe,

After some research I found the CEO made comments on Facebook and LinkedIn about a CBS News and Wall Street Journal article dealing with Theranos, an apparently fraudulent technology company that appears to have swindled nearly a billion US from some very smart people who should have known better. The text of his comment is:

“When Theranos first announced their technology I received numerous calls and emails from concerned investors in NanoLogix who were worried that our work on bacteria diagnostics was useless, since in using Theranos’ claimed technology it could all be done better, cheaper, and faster than anything we could hope to market. Nothing I could say mattered, as all one had to do was look at the impressive credentials of those on the BOD and all the positive press Theranos received on their “miraculous” technology. I have to wonder how many other small biotechnology companies’ potential pool of investment capital shrank due to the truly unbelievable claims of Theranos and the associated disillusionment of the investing public relative to legitimate diagnostics development. Theranos has probably cast a cloud over investment in small alternative biotechnology companies for years to come”

It makes eminent sense. The Journal article is also great and worth a read.

EI