SHARON, Pa., Jan. 18 /PRNewswire-FirstCall/ -- NanoLogix, Inc. today announced that the company will retain the services of a PCAOB registered accounting firm. It is the Company’s intent to become a reporting entity on the NASD Bulletin Board exchange. Once the auditors have completed the necessary audits, the company’s legal counsel, the law firm of Randall S. Goulding & Associates, will prepare and file a 10-SB with the SEC with the intent of switching exchanges.
CEO of NanoLogix, Dr. Mitch Felder, commented, “Considering our short history and modest capital resources, our accomplishments have been nothing short of spectacular. We always believed that as soon as the cornerstones of real potential economic value were in place, namely NanoLogix’s patent portfolio, and our ongoing capital needs had been secured, it would be necessary to take the next steps in terms of complete transparency and public disclosure in order to reward our existing shareholders and attract new ones.” Dr. Felder continued, “The retention of the appropriate professionals, as well as the recent additions to our Board, is another major step for NanoLogix in its growth plan.”
As previously announced, NanoLogix has added David F. Rivers to its Board of Directors. Mr. Rivers was with Pfizer, for 34 years. He was Vice President, in charge of the Research, Development, and Engineering operations for the Schick & Wilkinson Sword Group since 1993. In this position, he was responsible for all new product and process activity for the business worldwide. Mr. Rivers worked in the Fisher Body Division of General Motors’ in Engineering, Quality, and Manufacturing operations before joining Pfizer. He began his career at Pfizer in 1969 as a Production Superintendent, in the Schick Operations and held increasingly responsible positions in the Schick and Consumer Products groups in both Manufacturing, Engineering and Research and Development. He retired from Pfizer in October 2003 to become CEO of the Patriot Lift Company. Patriot Lift Company (www.patriotlift.com) manufactures and sells the exclusive technology for Pneumatic automation of landing gear and stabilizers for the Trucking Industry.
Randall Goulding, NanoLogix corporate counsel, stated, “From the outset of our relationship with the company we recognized not only the potential for NanoLogix’s economic successes but also the benefit the Company’s products could have on society at large. It was a combination of the two that compelled us to conserve the company’s cash position and instead be retained solely for restricted stock.” He continued, “There is an inherent global socio-economic benefit that is at stake here. The fact that such a small Company could create market-leading disease detection capabilities while developing a technology capable of generating a high-grade of clean burning fuel from waste products is truly amazing. Their endorsement by a major company like Welch’s(R) demands recognition and, as citizens of the world, their achievements demanded our call-to-action. We are honored to be assisting the Company take this next critical step in its growth.”
About NanoLogix, Inc.
NanoLogix is a nanobiotechnology company that engages in the research, development, and commercialization of technologies for the production of bacteria, disease testing kits, alternative sources of fuel, cancer therapy, and remediation of toxic materials. The Company’s patents span the identification and antibiotic sensitivity testing of 34 disease-producing bacteria, including M. tuberculosis (TB), Mycobacterium avium-intracellulare (MAI), pseudomonas, and nocardia. These bacteria are cited as prominent causes of morbidity and mortality in patients with cancer, cystic fibrosis, and AIDS. Additionally, NanoLogix owns a patent for the nontoxic induction of apoptosis (a method for inducing a genetically based induction of “cell suicide”) in cancer cells utilizing hydrophobic hydrocarbons. NanoLogix is currently implementing a technology application for biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable, environmentally-friendly energy sources.
Forward-Looking Statements
This press release contains statements, which may constitute “forward- looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of NanoLogix, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, go to the Company’s website at: http://www.NanoLogix.net
NanoLogix, Inc.
CONTACT: Brass Bulls Corp., +1-866-342-2700, for NanoLogix, Inc.
