In the last year of financials (website -about us -financials) available to us NNLX had gross revenue of over 119k- and only 75 dollars of royalties (not necessarily to Bret)-so it does not appear anybody is getting rich off royalties
but Bret had loaned 100,500 to NNLX at a given time in said financials to keep it going during the hard times all startups (esp biotech and mining) experience
I see nothing untowards in the financials-without Brets loans and cost cutting (amidst very modest dilution for a startup) its very possible NNLX would not have survived the difficult transition all such companies face- bio tech is known for taking forever-everybody who invests in it should know that
Bret and everybody else answers to the board-fiduciary responsibilities-which come into play when you are dealing w other peoples money -are the highest responsibilities in the law and one of the very few things the bar strictly enforces
NNLX has had a strong board of directors comprised of doctors etc and Gwen- a patent attorney who had a medical doctorate or PHD also-does somebody want to post Gwens credentials?
Gwen -the patent attorney until recently- her fiduciary duty-which she would be well aware of as a lawyer- as a board member - was to NNLX - not to Bret
what is my background for saying these things- 1 of my undergraduate degrees as top student at my university was a full accounting degree (also received J.D. degree there) and I was President of a corp in my 20's and 30's educating the board on their fiduciary responsibilities before retiring from that due to national responsibilities
As others have pointed out but been ignored by some:
April 30, 2013
Company Update
The past fifteen months have been highly successful for NanoLogix as it continues to develop new products and new markets. In that time, the company has advanced in a number of important areas, including development of new technologies, increasing sales and customer bases, and garnering substantial recognition in published research on NanoLogix products and techniques. We are excited by these developments and by additional new opportunities.
New Technologies
The technological developments at NanoLogix are revolutionary. Besides improving on existing BNP and BNF products and protocols, the Company has gained great success in the market for its Extended-Life Petri dishes and BNP diagnostic kits that are vacuum-packed in gas charged FlatPacks.The FlatPack technology – exclusively licensed by NanoLogix – represents a major breakthrough in supply-chain management for these products. ... Customers to date include independent laboratories and hospital laboratories, defense contractors and Federal agencies. NanoLogix products are at present being used on six classified Federal government projects, with expanded use expected this year. Those projects are funded by the United States Department of Defense and the Environmental Protection Agency.
In the past year we and our collaborators in research and development have made significant refinements to our existing technologies and have also developed one additional rapid test. The new test has been named the N-Assay. The N-Assay is a unique ELISA multiwell machine-readable assay that provides results for bacteria identification and antibiotic sensitivity in less than one hour with high sensitivity and specificity. Indications to date are that the N-Assay will provide rapid results for any bacteria for which an antibody exists. We at NanoLogix and the researchers using the N-Assay are very excited at this new development. The N-Assay is projected to provide a premier platform for Point-of–Care rapid diagnostics. N-Assay patent filings were made in 2013.
but Bret had loaned 100,500 to NNLX at a given time in said financials to keep it going during the hard times all startups (esp biotech and mining) experience
I see nothing untowards in the financials-without Brets loans and cost cutting (amidst very modest dilution for a startup) its very possible NNLX would not have survived the difficult transition all such companies face- bio tech is known for taking forever-everybody who invests in it should know that
Bret and everybody else answers to the board-fiduciary responsibilities-which come into play when you are dealing w other peoples money -are the highest responsibilities in the law and one of the very few things the bar strictly enforces
NNLX has had a strong board of directors comprised of doctors etc and Gwen- a patent attorney who had a medical doctorate or PHD also-does somebody want to post Gwens credentials?
Gwen -the patent attorney until recently- her fiduciary duty-which she would be well aware of as a lawyer- as a board member - was to NNLX - not to Bret
what is my background for saying these things- 1 of my undergraduate degrees as top student at my university was a full accounting degree (also received J.D. degree there) and I was President of a corp in my 20's and 30's educating the board on their fiduciary responsibilities before retiring from that due to national responsibilities
As others have pointed out but been ignored by some:
April 30, 2013
Company Update
The past fifteen months have been highly successful for NanoLogix as it continues to develop new products and new markets. In that time, the company has advanced in a number of important areas, including development of new technologies, increasing sales and customer bases, and garnering substantial recognition in published research on NanoLogix products and techniques. We are excited by these developments and by additional new opportunities.
New Technologies
The technological developments at NanoLogix are revolutionary. Besides improving on existing BNP and BNF products and protocols, the Company has gained great success in the market for its Extended-Life Petri dishes and BNP diagnostic kits that are vacuum-packed in gas charged FlatPacks.The FlatPack technology – exclusively licensed by NanoLogix – represents a major breakthrough in supply-chain management for these products. ... Customers to date include independent laboratories and hospital laboratories, defense contractors and Federal agencies. NanoLogix products are at present being used on six classified Federal government projects, with expanded use expected this year. Those projects are funded by the United States Department of Defense and the Environmental Protection Agency.
In the past year we and our collaborators in research and development have made significant refinements to our existing technologies and have also developed one additional rapid test. The new test has been named the N-Assay. The N-Assay is a unique ELISA multiwell machine-readable assay that provides results for bacteria identification and antibiotic sensitivity in less than one hour with high sensitivity and specificity. Indications to date are that the N-Assay will provide rapid results for any bacteria for which an antibody exists. We at NanoLogix and the researchers using the N-Assay are very excited at this new development. The N-Assay is projected to provide a premier platform for Point-of–Care rapid diagnostics. N-Assay patent filings were made in 2013.
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