NanoLogix Inc (NNLX)

[Omar8]

How did these work out ?






"Dec. 20, 2016

NanoLogix is pleased to announce the following Update:

The Company has narrowed its selection of buildings to use as a larger production facility in northeast Ohio. Two existing buildings are now under consideration to house NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic. The projected expenditure for establishing N-Assay production and increasing petri plate production is roughly $900,000 for production equipment, $125,000 for the construction of two separate 70' X 30' production cleanrooms, and $40,000 for additional equipment such as forklifts.

This expansion is projected to result in market share increase for petri plate sales due to markedly improved economies of scale, and position NanoLogix with a significant production capability for the new N-Assay modified ELISA comprehensive bacteria diagnostic kit. The Company expects the expansion will result in ten additional jobs starting with the delivery and setup of the production equipment in 2017 and another ten positions upon expansion of N-Assay sales.

Over the coming six months we expect to finance the expansion through a combination of increasing revenue from sales of both product lines and fundraising through our current SEC Regulation D, Rule 506 offering for private placement sales of shares.

Any share issuance financing for this expansion is being structured primarily, but not solely, through a series of equity tranches and stock warrants. Using this method, the Company hopes to keep stock dilution to a minimum and will proceed with the interests of the shareholders in mind, including extending the timeline for expansion as necessary if equity costs are not favorable to NanoLogix.

The Company is preparing to seek licensees in Europe and Hong Kong for production of FlatPack Petri Plates under the recent EU FlatPack patent approval.

In response to queries coming to our office regarding our customization of the N-Assay for a multibillion medical technology company: we have sold 600+ of the N-Assay to them and will be supplying more in addition to further customization for other bacteria in 2017. As our arrangement with the client is CONFIDENTIAL, we will not be releasing their name.

Merry Christmas from Carol, Debby, Kim, Travis, Bret and all.


Dec. 6, 2016

NanoLogix is pleased to announce the following Update:

The Company is currently searching for a larger production facility in northeast Ohio. In the past three weeks NanoLogix management and production staff have viewed, toured, and measured four separate sites to ascertain site suitability for relocating and expanding NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic.

The new sites being surveyed range from 10,000 square feet to 22,000 square feet, three to seven times the size of our current facility. All sites viewed offer additional square footage for further expansion as required.

NanoLogix is also in the process of specifying and ordering new equipment for the production of both petri plates and the new N-Assay.

The two petri plate filling machines that have been configured for order are both OnlineEngineering MultiDish Model 968 with ancillary equipment. The Model 968 is capable of filling 9,600 plates per hour, so the two machines should be capable of meeting production needs for the forseeable future. Further information on the equipment can be found at: www.online-engineering.com

The N-Assay equipment currently being researched and specified are automatic pippetting machines for application of antibodies, etc., to the ELISA plates used for this revolutionary rapid bacteria diagnostic technology.

The two technologies will be housed in separate modular cleanrooms in order to comply with specific FDA requirements for manufacturing of each product.

The projected timeline for delivery and assembly of modular cleanrooms, the OnlineEngineering equipment, and the automated pippetting machines is sometime in the second quarter of 2017, while configuration of whichever of the candidate sites is chosen is projected to begin in the first quarter of 2017.

Petri plate production is currently in Hubbard, Ohio, while N-Assay production is in Houston, Texas. N-Assay production in Ohio is projected to begin in the second quarter of 2017.