LAS VEGAS, May 9, 2005 (PRIMEZONE) -- The NanoSignal (Pink Sheets:NNOS) Board of Directors has suspended negotiations with the United Indian Credit Union. The initial value of the deal was two million five hundred thousand dollars. The agreement could not be finalized due to the 4 million dollars of outstanding debt, from claims and other sources resulting from the original shareholders and some of the outstanding debt of the company. Upon the completion and retirement of the 4 million dollars of debt reduction. Management will finalize financing agreements for SLICES funding and completion of its highly Advanced MRI Technology for dicom compatibility to existing systems said James Wolfe CEO.
This press release contains "forward-looking statements" within the meaning of Private Securities Litigation Reform Act of 1995. Such statements can be identified by 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.