Nano Chemical: big ad, little substance
Nano Chemical, the company that took out a full-page New York Times ad last week seeking investors, is making news for all the wrong reasons. The company’s newly appointed CEO, Alexander H. Edwards III, payed $50,000 in 2003 to settle civil fraud charges with the SEC. And its investment banker, Robert Esposito, used to run nightclubs and was arrested for selling cocaine. According to a report in Barron’s, Nano Chemical actually makes spray wax sold in discount stores.