NanoLogix Inc (NNLX)

[Omar8]

jshdn........



If this is one of the partners...it seems partial funding is by those below(, was the rest by the company) ? And the word of ENLISTED the service is used. I was hoping a partner would be one who was paying for this or a large percentage of it. Does enlisting someone elses' services make them a partner ? No real definition of partner is defined by the company is there ?




"Oct. 5, 2020

NanoLogix Covid-19 Detection Test Update

Partial Funding received from NanoLogix Directors Options Exercise

NanoLogix has enlisted the services of a company with an advanced diagnostic platform that can deliver lab-quality results at point-of-care (POC). That company will perform an initial feasibility assessment of our COVID-19 viral assay on their rapid POC system. Partial funding for the first phase of the feasibility assessment is being provided through NanoLogix Director and Chief Medical Officer Dr. Jonathan Faro and Director Dr. Sebastian Faro exercise of options for 3 million shares. Those exercised shares are restricted from trading for a period of one year from issuance

The Directors' action reflects their belief in the NanoLogix rapid viral detection technology and its potential.

Independent laboratory work in Houston on a separate phase and aspect of the testing technology will begin after initial results from the above-mentioned work.