Peak Insanity

I would say we are at peak insanity.

Nanox gave away free shares to Johnson & Johnson months ago because Nanox AI failed its milestones, and all the promoters celebrate it yesterday.

Johnson & Johnson waited for months, until yesterday, to report the December 29, 2022 gift, just like it waited for about a year to report the previous, January, 2022 gift. Johnson & Johnson has never bought a single Nanox share.

But even the fact that the stock of a complete fraud like Nanox trades above $0 is pretty insane - a profitable vehicle for many, just like in any Ponzi scheme - until no greater fools are found.

Now, where and when can I get a scan of my muscles with the fake ARC? Neither Hadassah, nor Shamir, nor UGMC has a working (operational) one - these are hospitals located in Israel and Ghana that Nanox and the promoters like to throw around.

As of today, no working ARC has ever been made, and Nanox has absolutely no intention of delivering a working ARC anywhere.

How long do we think this will stay a secret?

Update May 15, 2023: Muammar Qadhafi offered a detailed timeline, which I include here verbatim below, but I disagree with his comments about transaction costs or divestiture - most-likely J&J ownership was constantly diluted due to stock option issuance to employees and/or contractors.

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Jun 2018: J&J is a minor investor in Zebra (source https://techcrunch.com/2018/06/07/zebra-medical-vision-gets-30m-series-c-to-create-ai-based-tools-for-radiologists/)

Nov 2021: Nanox buys Zebra in an all-stock transaction and issues 3.25M shares to Zebra shareholders.

"On November 4, 2021, the Company consummated its purchase of 100% of the equity of Zebra Medical Vision Ltd... At closing, the Company issued 3,249,142 ordinary shares of the Company" (source Nanox 20-F page 48 https://investors.nanox.vision/node/7636/html)

J&J gets 192K of these shares, therefore their stake in Zebra was 5.92%. (Source JNJ 13F https://johnsonandjohnson.gcs-web.com/node/49671/html -- holding 192,429 shares)

Note: Some of the Nanox issued shares went to transaction costs which means J&J's stake might be around 6%.

Jan 2022: Nanox issues another 89K shares to ex-Zebra shareholders.

"In addition, on January 19, 2022, we issued 89,286 additional ordinary shares to the former shareholders of Nanox AI due to partial achievement of a milestone that occurred post-closing." (source Nanox 20-F as above)

J&J gets some of these shares but doesn't report till their filing for end-2022. (Source JNJ 13F https://johnsonandjohnson.gcs-web.com/node/51171/html -- holding 196,228 shares)

Note: Oddly J&J should have gotten over 5200 shares based on their stake, but they only reported +3799. Did they divest?

Dec 2022: Nanox issues another 2.65M shares to ex-Zebra shareholders.

"On December 29, 2022, the parties entered into a settlement with respect to any additional amount that could be granted under the Zebra Merger Agreement, according to which the Company issued Nanox AI’s former shareholders an additional 2,648,424 ordinary shares."

(source Nanox 20-F as above)

Note that another $100M - $9.33M = $90.67M worth of shares were to be issued upon Zebra hitting milestones, which didn't materialize. At end-Dec 2022 prices this would have been around 13M shares.

J&J reports their stake increased by 121K shares for Q1 2023 as the shares were likely paid out in Jan. (Source JNJ 13F https://johnsonandjohnson.gcs-web.com/node/51741/html -- holding 317,704 shares)

The problem here is based on their initial stake of 5.92% they should have reported +156,851. Therefore they sold off around 35K of Nanox shares in Q1.

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