NanoLogix will hold an informational meeting in Sarasota, Florida on February 12, 2007. Although the company has distributed proxies to NNLX shareholders, the company intends to utilize the February meeting solely to increase shareholder understanding of the company. The company is considering a spin-off of its medical technology into a separate company. However, this and other matters will be further clarified and voted upon at a second meeting, which will be announced at a later date.
Mitchell S. Felder, M.D., CEO of NanoLogix, Inc. stated, "With a new year upon us, now is an excellent time to update our valued shareholders on the progress of the company to date, as well as on future growth opportunities. In 2006, the company reached significant milestones in the development and proprietary design of the hydrogen bioreactors. As an extension of our production of hydrogen from wastewater, we will begin offering conversion of gasoline- or diesel- powered engines to operate cleanly and efficiently on hydrogen gas (H2), through our relationship with Precision Performance Co. of Ohio. We also are working on a number of patent applications for the conversion of gasoline/diesel engines to hydrogen. This year, NanoLogix plans to pick up the pace of project management, research and development, and sales and marketing as management pursues its growth strategy to create a thriving business. With the demand for energy solutions growing, NanoLogix' focus should help to create substantial value for shareholders in 2007."