November 27, 2012
Nuvonyx, Inc. Announces Immediate Closing of Manufacturing Operations and Liquidation of Assets.
After several months of seeking either an acquisition or additional capital, Nuvonyx, Inc. today announces it can no longer operate and is selling remaining assets to pay outstanding salaries to non executives and tax liabilities. CEO and largest shareholder, William Mountanos said "with over $2.1 million in liabilities and the end of any revenue streams, the common stock no longer has any value".
"The impact of a tough economy and ever increasing costly government regulations has dramatically changed out business climate. It was clear this was recognized in the investment community as well and impacted our ability to raise requisite additional capital. Efforts to sell the company failed to materialize as well."
Depending on the outcome of collecting on receivables and sales of any inventories etc. debtors will share in any remaining assets.
Nuvonyx, inc has set up correspondence address for all future communications.
Please mail correspondence to:
4262 Blue Diamond Dr Suite 102-349
Las Vegas, NV 89139