May 25 2015
The directors and management of N1 Technologies Inc. announced today that the company will partially spin-off it's R&D subsidiary NanoSave Technologies Inc. as a stand alone public company pending regulatory-legal review.
NanoSave Technologies Inc. a Florida corporation has been the long standing research and development arm of parent company N1 Technologies Inc. NanoSave Technologies Inc. has provided R&D for many of the company's nano based products, such as the NanoSave N1 Motor Oil line, Tungstalon Advance Nano plastics, and NanoBolt Lithium Tungsten Battery to name just a few. "We see this partial carve out as a great opportunity to unlock under utilized value and tap new capital resources for future innovation," stated Steve Lovern CEO. The company has begun talks with its attorneys and accountants to list NanoSave Technologies Inc. as a stand alone public company. The company is looking at structuring an IPO (Initial Public Offering) of $50 million dollars U.S. offering up to 40 percent of the company's shares to investors. The capital proceeds will be used to fund a number of existing projects including an advanced video camera system called Osiris Optium, that has Military and Satellite Imaging capabilities www.OsirisOptical.com and the company's patented Velocitron Engine, an advanced electric generator built into current gas engines eliminating the need for an external generator. www.VelocitronEngine.com N1 Technologies Inc. will retain a 60% stake in the newly minted public company benefiting from any new discoveries made by NanoSave Technologies Inc. The company expects to have the listing completed by the end of the 3rd quarter of 2015.
Source: http://www.N1Technologies.com