Advanced Nanotech, Inc (AVNA.OB) Set to Restructure Expenses, Board of Directors Following Share Exchange
Advanced Nanotech, Inc (OTCBB: AVNA) announced Friday that it has bought shares back from the founding members and management of its subsidiary, Owlstone Nanotech, Inc. The company will now move forward and finalize new operational efficiencies at the corporate level and repopulate the board of directors. Owlstone Nanotech is involved in the commercial applications of nanotechnology-based chemical detection products. The Owlstone Detector is a dime-sized sensor that can detect a wide range of chemical agents in extremely small quantities. Advanced Nanotech's silicon-based proprietary technologies are developed at Cambridge, University, England. It currently has 18 patent-pending applications and one recently awarded…