SOURCE: Nano Mobile Healthcare Inc

Nano Mobile Healthcare Inc

June 07, 2016 08:30 ET

Nano Mobile Healthcare 3rd Quarter Business Update

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.

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/.

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.

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. 

About Nano Mobile Healthcare, Inc.

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 View, CA. For more information, please visit us at http://nanomobilehealthcare.com/.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include, among other things statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. Such forward-looking statements may also include statements, among other things, concerning the efficacy, safety and intended utilization of Nano Mobile Healthcare's product candidates, the conduct and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and plans regarding partnering activities. Factors that may cause actual results to differ materially include, among others, the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, trials may have difficulty enrolling, Nano Mobile Healthcare may not obtain approval to market its product candidates, or outside financing may not be available to meet capital requirements. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee.

For a further list and description of the risks and uncertainties the Company faces, please refer to the Company's most recent Annual Report on Form 10-K and other periodic and other filings Nano Mobile Healthcare files with the Securities and Exchange Commission and are available at http://www.sec.gov/. Such forward-looking statements are current only as of the date they are made, and Nano Mobile Healthcare assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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