LAS VEGAS--(BUSINESS WIRE)--Feb. 11, 2004--NanoSignal Corp. (formerly Microsignal Corp.) (OTCBB:NNOS) reported today the highly successful and industry significant completion of the first phase of beta testing of SLICES(TM) software technology for MRI devices at Desert Radiology in Las Vegas, NV.
Dr. Lawrence Madoff, President of NanoSignal, reported that "the beta test results at Desert Radiology are historic not only for NanoSignal but for the MRI industry as a whole. With the help of Dr. Jeffrey Taft, Ph.D., who is the inventor and founder of SLICES(TM), we have been able to prove-up our technology in the field. We are no longer a start-up company, but a real contender for a share of the multi-million dollar MRI industry.
"Working with a standard 1.5 Tesla General Electric MRI scanner at Desert Radiology, we used SLICES(TM) to maintain signal noise and resolution in less than 50% of the usual scanning time while at the same time producing clear images suitable for radiological interpretation. This achievement is industry historic since it demonstrates that SLICES(TM) software not only works but works in half of the time. This means that patient pass through is increased resulting in medical cost savings and greater human comfort since time in the tunnel can be greatly shortened."
Our engineering team will continue beta testing at Desert Radiology over the next several weeks on both GE and other MRI devices manufactured by the leading companies in the business. Our objectives will be to increase resolution and improve image quality on all MRI devices, both tunnel configuration and the highly popular open MRI's. Testing of SLICES(TM) integration with DICOM compatible PACS systems is progressing with a high degree of satisfaction. Significantly, our technical "White Paper" will include both the beta test results for SLICES(TM), a marketing plan, financial forecasts and statistical data for health insurers proving the cost benefits of SLICES(TM). We will be assisted by Ali Noshirvani, who has been selected to head-up sales and marketing, as previously announced in our Business Wire press release dated Feb. 5, 2004. We further anticipate ramping up a recruitment program for additional software engineers and installation technicians.
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With beta testing near completion, our message to the MRI industry is that up-grading MRI devices with the new SLICES(TM) software versus the capital outlay for costlier MRI equipment is now a real choice. Given the size and depth of the MRI industry, we are open to multiple distribution channels such as direct sales, co-branding, sub-licensing and strategic alliances with MRI manufacturers. The best thing for our shareholders is to make SLICES(TM) the software of choice for all MRI manufacturers to replace the outdated image processing methodologies that is decades old. Everyone knows how successful "red eye" reduction has been to the camera and film industry. Now with SLICES(TM), MRI facilities have a one stop purchase to reduce artifacts and ghosting on images with increased productivity that pays for the software outlay.
The company has been in negotiations with multiple investment banking firms to meet its anticipated funding needs for national and international sales and marketing in 2004-2005. In order to concentrate on the beta testing and the medical applications of SLICES(TM), Dr. Madoff will continue as President of NanoSignal with the additional title of Chief Operating Officer. The Board of Directors and majority preferred shareholder have unanimously selected Scott Ervin to take on the responsibilities of Chief Executive Officer. Scott is a welcome member of the NanoSignal team and he will be instrumental in meeting the global demand for SLICES(TM).
Scott Erwin has enjoyed an impressive career in real estate management, finance, mergers-acquisitions and leasing with a number Fortune 500 caliber companies including the First Boston Corporation, Fisher Brothers, and Rockefeller Center, Inc. In November 2003, Mr. Erwin became President and CEO of Micro Bio-Medical Systems, Inc., a position which he will continue to hold indefinitely.
ill be baaaaaaaaaaaack.matt wants to play the delete 100 alias game......again.
