LAS VEGAS, July 26, 2005 (PRIMEZONE) -- 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."
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.