NanoLogix Inc. Provides Financial Update, Appoints Bert Pharis as New Director
HUBBARD, Ohio, April 8, 2008, /PRNewswire-FirstCall via
COMTEX/ -- 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
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.
________________________________________
Contact:
NanoLogix, Inc.
Investor Relations
Bret Barnhizer, CEO
Telephone: 330-534-0800
E-mail:
Bret@nanologixinc.com
