Now we know

Now we know why Nanox issued that misleading press release on January 11. 

We also know why Nanox management held a hastily-arranged virtual briefing for its Korean audience on January 14, where the same old lies were repeated, but nothing of substance was announced.  Amir Ben-Shalom, Ph.D., described as the former(?) Chief Science Officer of Nanox, and whose name pops up in all the scams concocted by the former CEO Poliakine, reportedly opined:

it will not be long before FDA approval.

Here is why:

In a pre-market 6-K submission filed yesterday, Nanox revealed that its June 510k submission to the FDA was withdrawn on January 12.  With the withdrawal, Nanox effectively admits that the complaint in the class-action lawsuit had merit, that is, Nanox failed to disclose in June that

(i) Nano-X's 510(k) application for the Nanox.ARC was deficient;  (ii) accordingly, it was unlikely that the FDA would approve the 510(k) application for the Nanox.ARC in its current form;  (iii) as a result, Nano-X had overstated the Nanox.ARC's regulatory and commercial prospects

As a result, the stock hit a new all-time low of $10.70 yesterday.

On a side note, as an example of the nonsense that went on at the Korean briefing, let's take a look at two images:

Nanox still insists its Nanox.SOURCE chip is a FED:

But the 20-F filed by Nanox clearly states that the FED is a type of a failed display, not a chip or a cathode (page 59):

Our technology has its roots in field emission display (“FED”) technology. FED technology was originally developed by Sony with other technology partners, for television screens and monitors, offering a novel way of lighting screen pixels compared to traditional cathode-ray tubes that were based on a one-source electron gun beam. The field emission display innovation used multiple nano-scale electron guns to achieve a much higher quality image with significantly reduced motion blur effects. In 2009, after having invested substantial resources in the development of this technology for over a decade including through a joint venture called Field Emission Technologies, Inc. (“FET”), Sony ceased development of the project.

Since when is Nanox in the display business?

Here is another interesting image, supposedly comparing a phantom chest image generated by "existing x-ray" (top) with that by Nanox.ARC (bottom).  It exposes Nanox as a fraud.

How so?  First, if the bottom image is not from an "existing x-ray," then it follows Nanox.ARC does not exist.  Second, it shows that Nanox didn't even bother to license the cheap DICOM software used to show the images, and is instead using a "fully functional trial version."  Third, the timestamp of the "existing x-ray" chest image, "10/10/2021 17:31:15," exactly matches the timestamp of the supposed tomosynthesis image of a pelvis phantom generated by Nanox.ARC shown in a video from the RSNA 2021 deck, indicating that Nanox is using tampered DICOM files.

Update:  Dr. Ben-Shalom disappeared from Nanox "leadership" roster by mid August 2021.

Update:  In November 2019, Poliakine told a consultant that the "FDA approval" was expected in early 2020.  Oh, and 

Aiming to have 15,000 systems deployed globally by 2022.

Nanox is panicking

After the stock price hit an all-time low of $11.79 yesterday, the CEO of Nanox has decided that enough is enough and issued a misleading press release this morning.

The press release is titled:

Nanox Announces Issuance of American Medical Association New Category III CPT® Code for Its Coronary Artery Calcium Population Health Solution

It turns out, however, that the new CPT code has nothing to do with Nanox AI or detecting any coronary artery calcium.  Here is the long description of the code:

Quantitative computed tomography (CT) tissue characterization, including interpretation and report, obtained with concurrent CT examination of any structure contained in the concurrently acquired diagnostic imaging dataset (List separately in addition to code for primary procedure)

It is a generic experimental code for quantitative, not necessarily AI, analysis of CT images (remember, those expensive and hard-to-get images that Nanox.ARC is supposed to replace worldwide by "democratizing imaging" and "propelling the universe").

The pdf file with the new code was created on December 17, modified on December 28 (per metadata), and finally published on AMA's website on January 1 (per official schedule).

So that was more than a week ago.  Why wait until this morning to issue the press release?

All this in the middle of a formal SEC investigation for fraud.  

Very brave of the new CEO!  Or not.

How x-rays are generated

Here is how x-rays are generated, according to Korean-based Nanox promoters on Yahoo and Twitter:

We inform investors of Nanox who want to democratize global medical care with innovative technology. Flowchart of how to make an X-ray

1. Substance (object)

2. Apply heat, light, impact, etc. to the material (object) 

3. Heat, light, impact, etc., emit electrons from the received material (object) (electron emission or field emission)

4. When the protruding electron collides with an object, x-rays are emitted. depending on what 1 is here

※Double metal (mems) such as Nanox molybdenum or gallium

※Other company's carbon nanotubes (cnt)

Note that the above algorithm is written in English - it is not a translation. Here is it with a specific object, such as a cucumber:

1.  Cucumber

2.  Apply heat, light, impact, etc. to said cucumber

3.  Heat, light, impact, etc., emit electrons from the received cucumber

4.  When the protruding electron collides with another cucumber, x-rays are emitted.

Now you know how x-rays are generated, Gangnam style.

Update:  Steve @Yahoo makes a good point about the heat, and asks:

Are you finally admitting that the Nanox cold tube isn't cold after all? You're using the word "heat" when describing how to make x-rays, yet one of the values of the Nanox tube is that it's a cold tube and doesn't make any heat to make an x-ray beam. So are you admitting that the company has been lying this whole time?

Nanox investors were never told that a cold cathode can get quite hot.  A cold cathode simply emits more electrons than can be supplied by thermionic emission alone.

Update:  The author of the above algorithm has offered further clarification:

X-ray X-ray When electrons collide with an object, radiation with strong penetrating power (electromagnetic wave) is emitted. This radiation is called x-ray. Usually, a flow of high-speed electrons collides with a material, and at this time, short-wavelength electromagnetic waves are generated, which are called x-rays. It was first discovered by Wilhelm Roentgen in 1895 and is also called the Roentgen ship.

So, now we further learn that:  

1. You don't need high voltage to generate x-rays (just a few volts potential should provide enough energy for the electrons to generate x-rays when smashing into an object, such as a cucumber)
2. A Roentgen ship is a thing.

Update:  The author's rebuttal to my understanding of his x-ray generating algorithm is as follows, verbatim:

If you go to the RxR blog, 1. There are psychopaths in the world who compare objects (substances) to cucumbers. Is this common sense? RxR is not a citizen of a country with a public education. It cannot distinguish between conductors, insulators, and semiconductors.

저가 RxR과 대화해본 결과 결론은 RxR은전기전자의 기초를 전혀 모릅니다. 도체.부도체.반도체.전자방출.전계방출.전자.원자.핵 전기전자 기초를 모릅니다. 속지마세요 가짜냉음극도매상 이거나 무식한 공매도 하수인 입니다.

Update January 2, 2022:  Jeremy @Yahoo points out, correctly, that, 

if you apply enough heat and light to the cucumber you will surely get x-rays, also from protruding electrons hitting the relativistic cucumber. See xkcd's relativistic baseball.

I had foolishly failed to consider a cucumber that had been accelerated to relativistic speed prior to step 1, or the use of a small nuclear explosive device in step 2.  In either case, of course, Nanox.ARC becomes a single-use disposable device, and the patient never returns for another annual diagnostic check-up.