Business
Nano Mobile Healthcare 3rd Quarter Business Update
Nano Mobile Healthcare 3rd Quarter Business Update.
About this update from Nano Mobile Healthcare, Inc.
[{"type":"text","content":"\n \n \n Nano Mobile Healthcare 3rd Quarter Business Update\n \n \nNano Mobile Healthcare 3rd Quarter Business Update\n \n NEW YORK, NY--(Marketwired - Jun 7, 2016) - Nano Mobile Healthcare Inc., (OTCQB: VNTH), (\"Nano Mobile\" or the \"Company\") has announced a business update for its 3rd fiscal year quarter. \n The Company recently filed its form 10-Q for the period ending March 31, 2016. Operating expenses were reduced for the third consecutive quarter. The Company is also working to reduce its convertible debt obligations and increase its working capital. The complete 10-Q report is available on http://www.sec.gov/.\n Given the increase of marijuana legalization and decriminalization efforts by a growing number of states, the Company has made the development of its law enforcement sensor the short-term priority. There is a growing need on the part of law enforcement across the country for a portable sensor to detect marijuana abuse and impaired driving. The Company also plans to incorporate alcohol detection along with the marijuana sensing capability in one device so that law enforcement can have the capability to detect both alcohol (DUI breathalyzer) and marijuana abuse -- without having to use two separate devices. Finally, the pathway for revenue is shorter in the law enforcement sector then with healthcare screening, as there is not the time and expense required to complete human FDA trials. \n Our sublicense for the use of NASA technology has been extended by three years such that the exclusivity of the underlying patents now ends in 2021, providing us with the additional time we need to advance the healthcare applications when the law enforcement breathalyzer enters the marketplace. \n About Nano Mobile Healthcare, Inc.\n Nano Mobile Healthcare -- a mobile health technology company -- is developing personalized and point-of-care screening using Apps based upon chemical sensing residing within a Bluetooth device that works with any smartphone, tablet or laptop. With its foundations in advanced nanotechnology, the Company's first product, the Nano Mobile Health Sensor, which is in development, is the convergence of nano-electronics, bio-informatics, and wireless technology to create the next generation mobile health application. The Company has offices in New York City and Mountain V...