Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Advance Nanotech Sells Singular ID Stake for $1.19 Million

Abstract:
Advance Nanotech, Inc., (BULLETIN BOARD: AVNA) , a leader in next generation chemical detection, announced today that it has sold its 8.8% share of Singapore-based Singular ID Pte Ltd., manufacturer of the Enxure integrated brand security system, for $1.19 million. The transaction was concluded on December 28, 2007 and represents a gain of approximately 500% on the Company's original investment in 2005. The buyer of Singular ID Pte Ltd., is Bilcare Singapore Pte Ltd.

Advance Nanotech Sells Singular ID Stake for $1.19 Million

New York, NY | Posted on January 3rd, 2008

As was announced on December 27, 2007, Advance Nanotech, Inc., plans to refocus its business primarily on the growing chemical detection industry. In doing so the Company plans to redirect its efforts away from the development of early-stage nanotechnologies in order to become an operating company dedicated to the continued commercialization of its next generation chemical detection products. The Company's sale of Singular ID represents the divestiture of a non-core asset, in furtherance of this objective.

"The sale of our Singular ID stake represents the conclusion of a very successful investment for the Company. In little over two years, Advance Nanotech played a significant role as an active investor in Singular ID during which Singular ID launched a pivotal product. The Enxure product enabled Singular ID to broaden its range of customers to include the automotive, fashion and pharmaceuticals markets with precision tagging and ID capabilities. The investment gain Advance Nanotech has achieved is testament to the returns that are possible from early stage technology investment given judicious selection and continuous oversight," commented Magnus Gittins, Chairman of Advance Nanotech Inc. "With the conclusion of our recent financing, together with the monetization of Singular ID, we have secured approximately $7.7 million in new capital for the Company which we believe will be sufficient to carry us to both positive cash flow and profitability during the second half of calendar 2008."

####

About Advance Nanotech, Inc.
Advance Nanotech is an operating company focused on next generation chemical and biological detection technology. Its proprietary technologies, developed at the University of Cambridge, are, uniquely, silicon based so offering miniaturization and wireless communication capabilities. Such advantages permit real-time precision analytics which, in turn, leads to the potential prevention of ensuing issues, concerns and dangers. Through its majority owned subsidiary, Owlstone Nanotech, Advance Nanotech has one recently awarded patent and eighteen patent pending applications.

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments and other factors could cause actual results to differ materially from the Company's expectations. Advance Nanotech's Annual Report on Form 10KSB, recent and forthcoming Quarterly Reports on Form 10QSB, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect Advance Nanotech's business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For more information, please click here

Contacts:
Yvonne Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

MEMS & Sensors Technology Showcase: Finalists Announced for MEMS Executive Congress US 2014 October 23rd, 2014

Nanoparticle technology triples the production of biogas October 23rd, 2014

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

Chemistry

Iranian, Malaysian Scientists Study Nanophotocatalysts for Water Purification October 23rd, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Non-Toxic Nanocatalysts Open New Window for Significant Decrease in Reaction Process October 19th, 2014

QD Vision Wins Prestigious Presidential Green Chemistry Challenge Award from the U.S. Environmental Protection Agency October 16th, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Announcements

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE