Shrink Nanotechnologies, Inc. ("Shrink") (OTC Bulletin Board: INKN), an innovative technology company developing products and licensing opportunities in the alternative energy industry, medical diagnostics and sensors, and biotechnology research and development tools businesses, received investment through the purchase of restricted common stock for $.17 per share. The Company moved its corporate offices to the Tech Portal office in Irvine on the campus of the University of California at Irvine. Shrink also secured a reduction in its monthly administration commitments, effectively reducing its administrative operating costs by nearly 50%.
Shrink CEO Mark L. Baum stated, "In anticipation of transitioning from the development stage with our StemDisc and NanoShrink products, we are streamlining our operations and making certain that we have the resources we need to be successful as we launch our first products in the coming months. We are pleased to have received a six figure commitment of new investment capital at a price which is at a premium to our current trading price, and to have moved our corporate office to the Tech Portal at UCI where much of our development work is now being handled."
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