Growth Company NanoSignal Corporation Announces Biomedical Distribution Company Acquisition Negotiations
7/26/2005 2:58:03 PM
LAS VEGAS, Jul 26, 2005 (PRIMEZONE via COMTEX) -- NanoSignal Corp, an OTC Pink Sheets fully reporting company (Pink Sheets:NNOS), announced today that further negotiations are underway to acquire a privately held biomedical products distribution company (http://www.nanosignalcorp.com). This announcement was made by President and CEO, James Wolfe.
The biomedical company being considered has been in business for over 15 years, has produced consistent annual revenues averaging $6,000,000 with profits of approximately 20% to the bottom line. The company owns over $5,000,000 in net tangible assets and operates a distribution center in South Florida.
NanoSignal, in collaboration with BBX, has signed a new agreement with Cell Robotics International, Inc. (Pink Sheets:CRII), a company engaged in the development, manufacture and marketing of a laser-based medical device with applications that address the blood sample and collection markets. See the corporate web site (http://www.cellrobotics.com) for more information. The agreement is pending Board of Directors approval.
Mr. Wolfe stated that "we have reviewed the Research and Development program of our MRI enhancement technology, SLICES, and we will continue to advance that program while we seek out acquisitions of cash flow generating companies in our core biomedical business sector."
SOURCE: NanoSignal Corp., Inc.
Princeton Research, Inc. (for NanoSignal)
Mike King
702-650-3000
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