Yman,
From one of Ant's post.....
"Despite the fact that the company has been voided in Delaware since 2018 the company through its CEO and directors have authored and published glowing Press Releases about its technologies; potential research, distribution and fund raising agreements with multinational firms that never came to be. As an example, one press release reported that the only two directors exercised options on millions of shares which provided the company with the funds to continue the development of the N Assay technology and suggested that it “reflects their belief in the NanoLogix rapid viral detection technology and its potential”. Not surprisingly over the following days after that PR was released the price per share and volume significantly increased. As the company has refused to provide even the minimal financial information there is no way to know if the exercise of the options albeit in a voided company every took place although one of the directors recently disclosed they only owned “a couple hundred thousand shares”.
That release...
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.
What is interesting is that the PPS peak to about 18 cents about a month and 1/2 after release before it eventually dropped to where it is today. Seems their release may have been what fueled that run up ?
So is what Ant posting what he was told correct about a couple hundred thousand shares ? So where did those shares go ? Did they sell them ? Did that even happen ? Forward looking statements is one thing but a release that states something that didnt happen is another thing, I think ? But who knows that the truth is ?
