From Dec. 2016 Ray, NanoLogix is pleased to ann
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Posted On: 10/10/2017 5:57:24 PM
Re: rayludwiczak #3923
From Dec. 2016 Ray,
NanoLogix is pleased to announce the following Update:
The Company has narrowed its selection of buildings to use as a larger production facility in northeast Ohio. Two existing buildings are now under consideration to house NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic.
The projected expenditure for establishing N-Assay production and increasing petri plate production is roughly $900,000 for production equipment, $125,000 for the construction of two separate 70' X 30' production cleanrooms, and $40,000 for additional equipment such as forklifts.
This expansion is projected to result in market share increase for petri plate sales due to markedly improved economies of scale, and position NanoLogix with a significant production capability for the new N-Assay modified ELISA comprehensive bacteria diagnostic kit. The Company expects the expansion will result in ten additional jobs starting with the delivery and setup of the production equipment in 2017 and another ten positions upon expansion of N-Assay sales.
Over the coming six months we expect to finance the expansion through a combination of increasing revenue from sales of both product lines and fundraising through our current SEC Regulation D, Rule 506 offering for private placement sales of shares.
IMO procurement of a production facility let alone N-Assay production should have been done and begun by now if all went according to plan. Don't think NNLX was even close to getting the $900k, thus the patent sales offer. Have to agree with the other post that at this point success hinges on the patent sales. If that doesn't pan out then hopefully a partnership, as a last ditch effort, will be made to get this into mass production...even though the terms of the partnership won't be in the best interest of shareholders something is better than nothing or taking it private. JMHO
Scott you have any thoughts on this?
NanoLogix is pleased to announce the following Update:
The Company has narrowed its selection of buildings to use as a larger production facility in northeast Ohio. Two existing buildings are now under consideration to house NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic.
The projected expenditure for establishing N-Assay production and increasing petri plate production is roughly $900,000 for production equipment, $125,000 for the construction of two separate 70' X 30' production cleanrooms, and $40,000 for additional equipment such as forklifts.
This expansion is projected to result in market share increase for petri plate sales due to markedly improved economies of scale, and position NanoLogix with a significant production capability for the new N-Assay modified ELISA comprehensive bacteria diagnostic kit. The Company expects the expansion will result in ten additional jobs starting with the delivery and setup of the production equipment in 2017 and another ten positions upon expansion of N-Assay sales.
Over the coming six months we expect to finance the expansion through a combination of increasing revenue from sales of both product lines and fundraising through our current SEC Regulation D, Rule 506 offering for private placement sales of shares.
IMO procurement of a production facility let alone N-Assay production should have been done and begun by now if all went according to plan. Don't think NNLX was even close to getting the $900k, thus the patent sales offer. Have to agree with the other post that at this point success hinges on the patent sales. If that doesn't pan out then hopefully a partnership, as a last ditch effort, will be made to get this into mass production...even though the terms of the partnership won't be in the best interest of shareholders something is better than nothing or taking it private. JMHO
Scott you have any thoughts on this?
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