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BioMedNanoTech Inc. Chapter 11 Petition Filed

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According to documents filed with the U.S. Bankruptcy Court, privately-held BioMedNanoTech Inc. (BMNT) filed for Chapter 11 protection in the Eastern and Western District of Arkansas. The Company, based in Little Rock, AK and Raleigh, NC, is a medical laboratory providing fast turnaround test results.

The Company’s Chapter 11 petition, submitted by President and Owner, Zakir Hossain MD, indicates total assets between $1 and $10 million and liabilities bellow $1 million. Court-filed documents include a Restricted Appraisal Report “for certain machinery and equipment items” by Robert Brumbaugh & Associates. The Rounded Fair Market Value as of August 12, 2015 of all assets contained in the report is $3,179,000. The list of creditors holding the largest claims includes Simmons’ First National Bank: $650,000, Muhammad Husain, MD: $55,000 and BioFire Diagnostics, LLC: $25,000.

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