NNOS - John wish I had added on the dip today. Should be up a bunch tomorrow on contract news. You in? Jim
LAS VEGAS, Mar 8, 2004 (BUSINESS WIRE) --
NanoSignal Corp. (formerly MicroSignal Corp.) (OTCBB:NNOS) announced today that it has entered into a joint venture agreement with a Swiss based investment company to sell SLICES(TM) in Europe and the Mid-East. The JV agreement will be similar to a value added reseller's agr
eement, however, ownership will be shared equally among the parties.
Scott A. Ervin, CEO stated 'the joint venture agreement with our Swiss partner calls for a $500,000 commitment with an initial order for 4 SLICES(TM) units within the next 30 days. The SLICES(TM) units will be configured by our engineering team based upon European specifications. We have initiated discussions with radiology practices groups through out Europe. Placement of the SLICES(TM) units in the field will be scheduled as early as the May 2004 following site surveys. A field representative will be traveling to Europe at the end of this month with scheduled stops in Paris, Brussels and Munich.
We have learned through successful beta testing of SLICES(TM) that the best way to sell SLICES(TM) units is by putting them into the field. We believe SLICES(TM) will prove itself to be fully compatible in the European market since there is a short list of MRI manufacturers. Further, with the strong Euro versus the U.S. dollar the purchase of SLICES(TM) units is a bargain. Moreover, Europe has a more socialized approach to medicine and patient care with the emphasis on cost containment. With demonstrated savings in 'pass through time,'SLICES(TM) saves money versus older MRI software programs. We project that cost recapture on SLICES(TM) is from 12-18 months depending on frequency of usage. When added to increased image clarity and user friendly management tools, SLICES(TM) provides a dynamic system upgrade.'
Additional information regarding SLICES(TM) technology can be viewed at www.nanosignalcorp.com.
This press release contains 'forward-looking statements'within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in 'Looking Forward.' These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statements.
SOURCE: NanoSignal Corp.
Princeton Research Inc. Michael King, 702-650-3000
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