SANTA CLARA, Calif., Aug. 8 /PRNewswire-FirstCall/ -- NanoSensors, Inc.
(OTC Bulletin Board: NNSR.OB), a nanotechnology development company that
develops instruments and sensors to detect explosives, chemical and
biological agents announced today that it has entered into three-year
employment agreements with Dr. Ted Wong, its Chief Executive Officer and
Joshua Moser, its newly appointed Vice President - Chief Operating Officer.
Dr. Wong is a founder and the CEO of the Company and Mr. Moser has been
engaged as a consultant to the Company since November 2005. During this
time Dr. Wong and Mr. Moser developed a new business plan for the Company
and worked closely on closing the Company's recent private placement.
"By entering into these agreements, the Company has decided to give our
two key people a strong vote of confidence and to endorse their plans to
aggressively pursue key technology licenses and business developments,"
said Robert Baron, the member of the Company's Board of Directors who was
responsible for negotiating these agreements on the Company's behalf. "We
feel that the compensation packages provided for by these agreements fairly
reward these two individuals for their efforts to date as well as properly
incentives them to execute on the Company's business plan," added Mr.
Dr. Wong is a founder of the Company and has been its Chief Executive
Officer and a director since its inception in December 2003. Dr. Wong has
over thirty years of U.S. and international business experience spanning
the operational functions of research and development, sales, finance, and
general business. Dr. Wong holds a B.S. and a Ph.D. in Chemical Engineering
from the University of Utah.
Mr. Moser has extensive experience in finance, restructuring and
operating troubled companies and managing assets in the technology,
manufacturing and service industries. Prior to working with NanoSensors,
from September 1999 to October 2000, Mr. Moser was the Director of Business
Development at GCN, Inc., an online market research company. From October
2000 to September 2002, Mr. Moser was a research analyst at Tufan, Inc.,
where he analyzed and managed investments in privately-held software,
semiconductor and technology service companies. From September 2002 through
February 2005, Mr. Moser was employed as a Vice President with Sherwood
Partners, Inc., a business and financial advisory consulting firm that
assists commercial lending institutions and venture capital firms in
managing and structuring corporate turnarounds. Thereafter, Mr. Moser has
been providing management consulting services, including serving as Interim
Chief Financial Officer at Chuckwalla, Inc., a privately-held software
company. Mr. Moser is 35 years of age and graduated from Denison University
in 1994 with a B.A. in History.
About NanoSensors, Inc.
NanoSensors, Inc. (www.nanosensorsinc.net) was incorporated in December
2003 and is a nanotechnology development company based in Santa Clara,
California. The Company's principal business is the development,
manufacturing and marketing of sensors and instruments to detect explosive
(X), chemical (C) and biological (B) agents ("XCB"), along with the
management of intellectual property derived there from that will enable
NanoSensors to create nanoscale devices.
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and are
subject to the safe harbors created thereby. These forward-looking
statements involve known and unknown risks, uncertainties and other facts
that could cause the actual future results of the Company to be materially
different from such forward looking statements. These forward-looking
statements are made only as of the date hereof, and we disclaim any
obligation to update or revise the information contained in any such
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE NanoSensors, Inc.