The weight of a human, CE Marking, and the rest

The fake battery-powered Nanox.Arc 1.0 body scanner can withstand a human, according to a photo shown in June 2020 Haaretz article.

 

Nanox CEO and founder Ran Poliakine, January 15, 2020.source: Haaretz/LUZ Corporate Photography

So, what did the CEO tell the Israeli publication:

"The Nanox.ARC was distantly inspired by the sickbay of the 1960s television series Star Trek, where “Bones” McCoy would swipe a device over a patient to get a complete instant medical picture."  OK, so Nanox.Arc is fiction?

"On a practical level, the research and development was born of a failed project at the Japanese company Sony to develop LED screens."  Not OK - it was a failed project, but nothing to do with LED (light-emitting diodes)

"compared to just $10,000 and 70 kilos for the Nanox"  Not OK.  Nanox is now saying tens of thousands of dollars, and weight is no longer discussed.

"The company has applied for permits to the U.S. Food and Drug Administration, Europe’s CE and Israeli regulators."  Really, really not OK!!! There are no such "permits."  Nanox is now saying it has not submitted for FDA 510(k) clearance of the magic device, and that it has not submitted for CE Marking, and that means that it cannot register with the Israeli Ministry of Health.  

"Nanox is readying to install a device at Jerusalem’s Hadassah Medical Center to be used for developing novel early-detection and screening protocols to promote global preventive healthcare practices. Research is scheduled to begin the first quarter of 2021."  Not OK.  It is not happening.

"A [Sony] team worked on the idea [for a novel LED screen] for seven years at a cost of more than $1 billion. The project never yielded the screen because Sony canned it after Panasonic got to the market with a similar, lower-cost device. But along the way the team designed tiny silicon chips capable of creating consistent and exacting screenshot images, Poliakine said."  Not OK at all.  The story is quite a bit different, there was no $1 billion, and there are no such chips "creating consistent and exacting screenshot images."

"X-ray technology was developed at the end of the 19th century and to this day uses the same basic technology, based on heating a metal filament to 2000 degrees Centigrade."  Not OK.  The metal filament thing was invented in 1913 by General Electric (the former employer of Nanox Advisory Board chair).  Until then, X-ray technology used Nanox, that is cold-cathode, technology.

"The filament emits electrons that collide with an anode to create x-rays. The process uses a lot of electricity to keep the device cool."  Not OK.  Nanox process needs just as much electricity to keep the device cool.

"Nanox uses a proprietary silicon chip embedded with 100 million microcones that generate x-rays There are no moving parts, no need for cooling and no need for lots of electric power."  Not OK.  Nanox proposed tube performs exactly the same and uses the same power as a cheap Chinese tube unsuitable for medical imaging.  And, nope, Nanox does not have a novel tube that can be used in a commercial device. 

"Nanox ... employs 60 people, 38 in its Israel R&D center ad the rest at production facilities in Japan, the U.S. and South Korea."  Not OK.  Nanox has no production facilities anywhere.

Update March 25, 2021:  The original $1 billion thing seems to come from the June 2019 press release by Nanox predecessor (the current Nanox was incorporated in December 2018 but did not start "operations" until September 2019, per prospectus)

Update September 28, 2021: The April 2020 Hadassah press release says:

Over $1 billion and 15 years of development have been invested in revolutionizing the X-Ray source...

So, 7 years at Sony and 8 years at Nanox and Nanox predecessor?  Nope.  First, all Sony did was to send 6 "engineers" to the offices of Candescent to "learn" about the tech after it signed an agreement with it in November 1998 - there is no evidence that any independent devlopment.  Second, NanoX Imaging (Nanox predecessor) was "a multinational start-up established in 2012," but it was developing x-ray detectors not sources!

Opinions by opinion leaders

Money blinds and corrupts.  It makes some radiologists say stupid or untrue things.

 

So, here they are, in order of appearance.

Dr. Pelc

The father of modern radiology, according to some, says that hot cathodes were invented by Coolidge in 1917.  Nanox own tech white paper says that happened in 1913.  Who are we to believe?

Dr. Dawson

A top British radiologist praises "nano tubules," failing to realize that there are no such "tubules" in the fake Nanox source, which was supposed to use brilliant "nano cones" instead of the crappy CNTs.

Dr. Samei

A top academic radiologist claims that Nanox technology provides us the opportunity "to move the source in two directions." ONLY in two directions?  Maybe, if the source is fake.  Of course, in the real world, the source can be moved in nearly infinite number of directions.

Dr. Rubin

Another top academic radiologist says that a cold-cathode tube, like the one used by Roentgen, does not generate the same level of heat as a hot-cathode tube.  We need to cool the cathode then?  The fact is that nearly 100% of the heat in any decent hot-cathode x-ray tube is generated in the anode.  

He also insists that no one dare consider adding three sources, four sources, or even more [in a CT imaging system].  What did he do while attending RSNA 2019?  How come he missed that one exhibiting company dares considering 16 to 24 sources?  Maybe because the Chinese NanoVision did not pay him, while the Israeli Nanox.Vision did.

updated: January 22, 2021

Update April 30, 2021:   Dr. Pelc was on the Advisory Board of Theranos, the fraud.  He is also on the board of Izotropic, an obvious scam (a copycat of Koning).  He is the winner of the 2013 RSNA Outstanding Researcher award and many still consider him a credible authority in the field.

The testimony at RSNA 2020 that disappeared

This testimony was removed after briefly appearing in a longer video on Nanox' RSNA 2020 virtual booth on November 29, 2020 (days ahead of the live presentation). Per Nanox prospectus:

In addition, we signed an agreement with a President of SK Telecom, Dr. Ilung Kim, dated December 16, 2019, for the provision of consulting services to us. Under the agreement, we granted Dr. Kim options to purchase 1,206,290 of our ordinary shares at an exercise price of $2.21 per ordinary share. 301,572 of the options vested as of the grant date and the remaining 904,718 options will vest in equal monthly installments over a period of three years from the vesting commencement date. In case of an initial public offering or certain other events, all unvested options will fully accelerate immediately prior to the closing of the initial public offering. The vested options are exercisable until the earlier of (a) the second anniversary of termination of the engagement between us and Dr. Kim or (b) the tenth anniversary from the date of grant.

So why did it disappear?  High-cost of tubes, not ready for mass production, anything else?

Update March 30,2021:  

Well, turns out Dr. Kim was a marketing SVP and GM of Samsung Memory from 1999 to 2008, according to a recent press release announcing his joining MCE's advisory board.  Turns out, a Dr. Kim, vice president of marketing for the memory division at Samsung, agreed to plead guilty to a single count of price fixing in 2007. Dr. Kim was later sentenced to pay a fine of $250,000 and to "a period of incarceration of fourteen months."  And who claims to be working as a Marketing Managers for MCE?  Eli Reifman, the convicted felon.  Both Lydia Edwards, who is President, USA at Nanox, and Bruce Edwards, who is Nanox’s VP of Business Development used to work with Mr. Reifman.  

And one more thing:  He was on the list of Nanox representatives at the November 2020 Berenberg "CEO" conference.  

Thanks to Steve @ Yahoo and MuddyWaters' report for the hints.

Update March 31, 2021:  The draft registration statement filed on January 14, 2021 had the date of Dr. Kim agreement as October 28, 2019.  Apparently, Nanox had forgotten that the agreement with Dr. Kim had been modified on December 16, 2019 to allow for full vesting of the options prior to the IPO...

Update August 1, 2021:  Dr. Kim, a convicted felon who swindled SK Telecom into investing in Nanox and therefore received the most generous consulting fee from Nanox, has "left" SK Telecom two months ago, and joined Nano-X Korea Ltd. full-time in July ("Responsible for Korean Fab Operation, X ray Tube R & D and AP area sales and marketing", per his linkedin profile).  I first learned it from a June 30 MCE "article", which refers to him as a "former President SK Telecom."  The promotional piece appears authored by Eli Reifman, a convicted felon who claims to be Marketing Manager at MCE.  Reifman may still have an email address at Nanox (according to an email verification service), and may be affiliated with A-Labs (A-Labs supposedly denies it), which provided "consulting services" in connection "with various transactions, such as a private placement [and] ... initial public offering."  For example, A-Labs touted nine months ago the Monolith, the "world's first full-screen smartphone designed by Eli Reifman, founder of Emblaze Ltd. in 2001 with R&D initiated in 2004 which is 3 years before Apple's steve jobs introduced the first iPhone in 2007." 

Here is an August 2020 Israeli article explaining (google translate):

The Emblaze consulting firm cuts millions of dollars in coupons in Nanox and INX offerings

Eli Reifman is not officially affiliated with A-Labs, one of the biggest beneficiaries in the Nanox IPO • The company is owned by Doron Cohen, former vice president of technology company Emblaze, along with Roni Lieberman, who briefly served as VP of product at Emblaze

Gali Weinreb 23.08.2020

Eli Reifman.  Affair that began with his conviction in 2011 / Photo: Tamar Mitzpi, Globes  

A-Labs, which served as a consultant for the Nanox IPO , is one of the biggest beneficiaries of the move. As recently revealed in "Globes", this is a company founded by the graduates of the technology company Emblaze by Eli Reifman , and according to market estimates, Reifman is significantly involved in it. A-Labs itself admittedly denied that Reifman was officially associated with her, but the company's CEO and founder, Doron Cohen, noted that Reifman is a friend and sometimes advises him in a friendly manner.

Under the consulting agreement between the companies, A-Labs received a 2.5% success fee from the issue amount - approximately $ 4 million, an additional payment of $ 1 million due to the issue itself, and another 160,457 options at an exercise price of $ 16 (compared to $ 18 per issue), equivalent to At the time of the IPO, another $ 300,000. A-Labs advises in a similar format to other Israeli companies, and it was recently announced that it is expected to pocket millions of additional dollars from the issuance of the crypto company INX in the USA ( see separate article ).

Reifman is not officially affiliated with A-Labs. The company is owned by Doron Cohen, formerly vice president of the technology company Emblaze, together with Roni Lieberman, who briefly served as VP of product at Emblaze. Its vice president of operations, Raviv Pablo, also previously worked at Emblaze. 

Clues to the fact that Reifman is involved in the company can be found, for example, in the fact that Scratch Alter, who was defined in the court document as "Reifman's relative" in the matter of providing a guarantee for him, is the head of the life sciences department in the company. In addition, the company's offices are located in Kadima, where Reifman also lives.

Recent issues involving A-Labs have included issues of Israeli companies in Canada: Zoomd, which provides website search engine technology, and Else, which has developed a vegan baby food compound.

Eli Reifman is the founder of the technology company Emblaze, which has developed technology in the field of digital video. In the past, Reifman was considered a "child prodigy" in Israeli high-tech, however, he became involved in crime and accumulated debts in the gray market.

In 2011, Reifman was convicted of forgery and fraud and sentenced to four years in prison and compensation to the complainants against him. Following an appeal he filed, the Supreme Court dismissed his appeal and he went to jail, from which he was finally released a year and a half before the end of his full sentence.

Reifman founded Emblaze in 1994. The company was issued in London in 1996, and its value rose from $ 160 million at the time of the IPO to about $ 8 billion at its peak. Reifman sold tens of millions of dollars worth of shares in the company, and became one of the most prominent high-tech rich in the economy before the dot.com bubble burst.