NanoLogix Inc (NNLX)

[Omar8]

Yman,


No telling what really went down, but here are a couple things put out. below.....couple things to note look at the shares by the Faros.....why would they appear to be idle when having so many shares ? Is it the tech isnt attractive to any one ?


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.


https://www.tribtoday.com/news/local-news/2020/11/rapid-virus-test-gets-patent/

......"Doing so broadens the geographic and technological scope of the rapid enzyme-based test NanoLogix introduced publicly in early May.

Patent-pending status was granted in mid May and in June, the test later was fast-tracked through a U.S. Patent and Trademark Office pilot program that gives priority to applications covering a product or process related to viral pandemic.

First reported in May, the test, according to the company, provides rapid and accurate identification of the virus’s spiked protein, but another “essential capability” is the test’s ability to rapidly detect a neutralizing antibody, “a quality that can determine both the need for vaccination and the effectiveness and longevity” of the antibodies.

Results are ready within an hour compared to three to five days with other tests. Development work, however, shows potential for detection times of 20 minutes or less, according to the company...."