Nano Magic Inc. responds to securities trading suspension

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DETROIT, Michigan, May 06, 2020 (GLOBE NEWSWIRE) — Nano Magic Inc. (OTCMKT: NMGX), , announced today, in a cease trading order issued on April 30, 2020 by the Securities and Exchange Commission (“SEC”), that neither the company nor its officers or directors were the source “of information in the market claiming that the company holds a patent for a disinfectant that kills ‘coronavirus’” mentioned in the order imposing a 10-day suspension of trading in the company’s securities that the SEC has described as being in the public interest and the protection of investors. The Company believes that the “information” referred to by the SEC is information that may have been posted by third parties on Internet bulletin boards.

The Company cautions investors to rely only on information published by the Company in its current and periodic reports filed with the SEC, and in press releases that the Company may issue from time to time. The Company has a strict policy of not communicating on message boards and a policy of not communicating with individuals seeking Company information outside of public records and official Company statements.

The SEC in 2013 issued an investor warning that the Internet allows individuals and businesses “to communicate with a broad audience…by…posting a message on an online bulletin board, entering into a discussion in a live chat room or sending mass emails… But it is almost impossible for investors to tell the difference between fact and fiction. Accordingly, persons interested only in accurate and up-to-date information about the Company should consult public filings with the SEC and official Company statements. The Company fully warrants the accuracy of its public filings with the SEC and its official statements.

The Company has at no time and in any medium communicated or published information claiming that “the Company holds a patent for a disinfectant that kills the ‘coronavirus'”. The Company has no knowledge of the source of this information entering the market. It is the Company’s practice to cooperate with non-public investigations conducted by regulators.

The Company holds four issued patents – two issued in April 2017, one issued in November 2018 and one issued in October 2019 – relating to the Company’s work in the field of disinfectants. The tests on the Company’s formulations for the four patents all took place before the filing in 2015 of the patent applications. There is no reference to the specific strain of coronavirus that is currently the subject of popular and widespread interest and possible solutions in any of the four patent applications, as the new strain of coronavirus was unknown at the time of the applications. patent.

The Company looks forward to the resumption of trading in its securities, at which time investors should rely only on information published by the Company.

The Company has retained the services of experienced outside counsel to answer any questions the SEC may raise regarding the 10-day suspension from trading in the Company’s securities. The SEC imposed a 10-day trading suspension; the SEC has not brought any civil action against the Company or any of its officers or directors. The Company is actively pursuing its business activities.

About Nano Magic Inc.

Nano Magic Inc. (OTCMKT: NMGX) is a leader in creating and bringing to market advanced nanotechnology applications formulated and packaged in the United States with particular expertise in liquid products to be applied to surfaces such as glass, porcelain and ceramics. Consumer products include lens care, electronics hygiene and protection, anti-fog solutions (sports and safety), as well as home care and automotive protection. Other applications include indoor/outdoor billboards, touch screens, glass screens and displays, windshields, solar panels, glass counters and display cases, porcelain, china, glassware , toilets, sinks, shower doors and more. Nano Magic also develops and sells printable inks and pastes and graphene sheets. Nano Magic’s Innovation and Technology Center in Austin, Texas engages in contract research and development for government and private customers. Nano Magic focuses on innovative and advanced product solutions harnessing the magical power of nanotechnology to create a safer, more socially responsible and more successful world.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, many of which are beyond our control, regarding our business, products and financial results. Actual results may differ materially from results discussed. Further information about our business, revenue and financial results is included in our Annual Report on Form 10-K for the year ended December 31, 2018, and in subsequent reports we have filed with the Securities and Exchange. Commission (“SEC”).

All documents are available through the SEC’s Electronic Data Collection, Analysis and Retrieval (EDGAR) system at www.sec.gov or our website listed above. All forward-looking statements speak only as of the date hereof. We hereby disclaim any obligation to publicly update the information provided above, including any forward-looking statements, to reflect subsequent events or circumstances, except as required by law.

Contact details

Jeanne Rickert, Esq., General Counsel
[email protected]
(844) 273-6462

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