New Update Today "Update On Petri FlatPack Inte
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Posted On: 04/19/2018 11:43:19 AM
New Update Today
"Update On Petri FlatPack International Patent Status
Pursuant to NanoLogix' International Patent Offering
NanoLogix is pleased to announce payment yesterday (18 April 2018) of annuities for the FlatPack petri plate extended-life packaging patent in the EU and other granting countries. These annuity payments were made possible through a long time shareholder's efforts and the resulting receipt of funds by the Company from a new investor. The importance of the annuity payments cannot be overstated for the development of Nanologix --- sale and/or licensing of the FlatPack Patents internationally is projected to provide funding for the Company's expansion of agar-filled petri plate production in the USA and to complete development and pursue marketing of both the N-Assay modified ELISA rapid bacteria diagnostic test and its associated Pre-test.
Without the potential to monetize the international patent assets the Company's development would depend upon domestic organic growth only, a process that while steady, would not meet NanoLogix' needs for rapid expansion."
I guess this means they were successful in securing the $30,000 mentioned in last week's update. That is good to know. The last paragraph says it all. They need the international funds to fund major growth, without the annuities that would not have been done.
Scott
"Update On Petri FlatPack International Patent Status
Pursuant to NanoLogix' International Patent Offering
NanoLogix is pleased to announce payment yesterday (18 April 2018) of annuities for the FlatPack petri plate extended-life packaging patent in the EU and other granting countries. These annuity payments were made possible through a long time shareholder's efforts and the resulting receipt of funds by the Company from a new investor. The importance of the annuity payments cannot be overstated for the development of Nanologix --- sale and/or licensing of the FlatPack Patents internationally is projected to provide funding for the Company's expansion of agar-filled petri plate production in the USA and to complete development and pursue marketing of both the N-Assay modified ELISA rapid bacteria diagnostic test and its associated Pre-test.
Without the potential to monetize the international patent assets the Company's development would depend upon domestic organic growth only, a process that while steady, would not meet NanoLogix' needs for rapid expansion."
I guess this means they were successful in securing the $30,000 mentioned in last week's update. That is good to know. The last paragraph says it all. They need the international funds to fund major growth, without the annuities that would not have been done.
Scott
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