HUBBARD, Ohio, April 8, 2008 /PRNewswire-FirstCall/ -- NanoLogix, Inc. (OTC Pink Sheets: NNLX) a nano-biotechnology company announces publication of 2007 financial data and a director appointment.
NanoLogix has posted 2007 unaudited financials. 2007 expenditures were reduced by 42% over 2006, while funding for 2007 Research and Development was increased by 19%. The information can be accessed at: http://www.nanologixinc.com/financials.html
NanoLogix welcomes Bert Pharis to the Board of Directors. Mr. Pharis was formerly President and CEO of Sygnet Wireless, a Cellular Telephone Company in Northeastern Ohio and Western Pennsylvania, from the mid-Eighties until Sygnet's 1998 sale to Dobson Communications. Mr. Pharis then served as a Director of Dobson Communications, sitting on both the Audit and Compensation Committees, through the 2007 sale of Dobson to AT&T. He was President and CEO of Logix Communications, a Competitive Local Exchange Carrier operating primarily in Texas and Oklahoma, from 1999 through 2001. Following that he spent two years as President and CEO of Ortheon Medical, a Medical Device Company in Orlando, Florida.
Bret Barnhizer, CEO of NanoLogix stated, "Bert Pharis is a welcome addition to our new Board of Directors, bringing extensive corporate business expertise in addition to experience with the processes involved in obtaining FDA approval for medical devices."
About NanoLogix, Inc.
NanoLogix is a leading innovator in the research, development, and commercialization of nano-biotechnologies, applications and processes. The Company has 31 granted Patents and multiple Patents Pending for bioreactor- based Hydrogen Production, revolutionary rapid medical testing technologies, and bioremediation. Information on NanoLogix is available at http://www.nanologixinc.com .
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.
Bret Barnhizer, CEO
|SOURCE NanoLogix, Inc.|
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