Investor Information OEM Licensing Deal
Not only are we positioning ourselves for growth into a new and exciting market, but we are doing so in a way that generates revenue early on and further monetizes the tech assets we now own as a result of our RS2D acquisition in early 2020. Although we can’t release details of this deal for strategic reasons at this point, we expect this to be an ongoing story that investors will learn more about as the months and quarters progress.
100 MHz Device
Our new 100MHz device has been a complex piece of hardware to develop. Covid and complex temperature control issues have combined to delay the project. I should highlight the complexity/difficulty added when R&D teams are not in the physical office – only so much work can be done through computer modelling and not having access to a physical device and produce alternate prototype pieces on the SMC machine or 3D printer slows development time significantly – which is obviously covid-related. Our head of R&D is a man possessed and that has built a fascinating level of devotion that seems to drives dedication and innovation that our competitors are likely to find difficult to replicate… especially larger corporations. Maximizing 100MHz deliveries in Q4 are not the central focus although we do have ~20 at various stages of manufacturing at present.
MRI Press Release Highlights
I would like to highlight the fact that this grant to our EU subsidiary does three important things:
1. Repays almost the entire cash outlay of the acquisition (meaning we only effectively paid for RS2D in ~$1.2M in shares valued at ~$0.60)
2. Affirms our plan to leverage existing tech into the imaging space
3. RS2D products expand our product portfolio into high-field NMR as well as into the MRI space, really rounding out our business offerings and maximizing the utility of the Chameleon4 board which is central to the RS2D technology platform
Collaborations and Projects
Bosch – We continue to work with Bosch in planning for the development of an NMR device to analyze bunker fuel for shipping vessels. R&D for the device is expected to begin in the coming months and closer collaboration is expected to resume once covid travel restrictions are reduced.
LKA – Our devices is in the mobile police lab and the project continues to be successful and gather data. Additional software development is being considered pending project results in the coming weeks and months. Nanalysis expects to be able to sell similar projects to other security forces around the world once the project has enough data to build a compelling use case and in-person sales activities can resume.
Sartec – Sartec and Nanalysis have developed tests/experiments for five points in the refining process where it is believed the NMR analytical process can add value through contributing additional information allowing for reduced waste and optimized feedstock monitoring and the. Before Italy was locked down, Sartec successfully sold a beta trial to a Japanese refinery group that is currently in the initial stages of their own beta trial for process optimization. Sartec expects the sales process to resume once travel restrictions are lifted.