Nano Magic Profile
Nano Magic Inc. (Nano Magic) develops, commercializes, and markets nanotechnology powered consumer and industrial cleaners and coatings to clean, protect, and enhance products for peak performance. Consumer products include lens and screen cleaners and coatings, anti-fog solutions, and household and automotive cleaners and protective coatings sold direct-to-consumer and in big box retail.
Nano Magic also sells branded and private label cleaners and coatings into the optical, safety, and industrial channels. The company's focus is to expand its direct-to-consumer sales through e-commerce and to grow sales to big box retailers. The company continues to sell its consumer products directly to opticians and ophthalmologists and small optical retailers.
Effective May 31, 2022, the company sold a 70% interest in the company's subsidiary, Applied Nanotech, Inc. (ANI). The company retains a 30% interest in ANI that is recorded as an equity investment.
The company's revenue is based on the retail and institutional sale of specialty products utilizing nanotechnology to deliver unique performance attributes. The company works to understand surfaces at the nano scale, and the company's products for surfaces can be used on a wide variety of substrates. The company's consumer products are sold as liquids, gels, foam and as wet and dry towelettes. Institutional coating products are typically sold in liquid form enabling application by a variety of common commercial techniques. The company relies on intellectual property, including trade secret formulations to protect the company's proprietary technology.
The company has multiple product technology platforms that offer solutions to common surface problems, such as the ease of cleaning, preventing fogging, preventing accumulation of dirt or grime, improving resistance to scuffing and wear and surface protection.
The company's consumer products are primarily customized cleaning and protection solutions. With respect to the company's consumer products, the company strives to create segment leading brands for solutions that are sustainable, of high quality, and that are both easy and safe to apply. The company emphasizes convenience, such as its product that combines antifog and cleaning into one product for convenience for the company's users. This, and other products can be used on eyeglasses, safety goggles and glasses, extreme sport glasses, goggles and visors. The company's solutions are also packaged for use on electronic screens, windows, mirrors, shower doors, and other similar clear surfaces along with the cleaning of everyday household surfaces. The company has also expanded into the auto care sector with Force Field windshield protection. This product creates a non-stick, super water repellent protective barrier - like a force field - to protect the windshield against rain, bugs, and salt. The coating solution is easy-to-apply and improves visibility and safety while driving.
Industrial surface treatment products include a family of coating liquids that create nano-thin, strongly-bound, invisible, 'forcefield'-like coatings on glass and ceramic surfaces and a series of clear coatings for plastics incorporating submicron sized particles to improve abrasion resistance and wear resistance without sacrificing transparency. The company manufactures its formulations internally to protect its technology and strive to maintain the highest quality for the products that the company and its commercial partners bring to the marketplace.
The company's surface treating products include:
Liquid and towelette formulations packaged for retail sale to consumers for cleaning and protecting clear surfaces - such as electronic touchscreens, windshields, windows, mirrors, shower doors, eyeglass and sunglass lenses.
Liquid formulation packaged for retail and industrial sale for cleaning surfaces.
Anti-fogging liquid and towelette formulations packaged for retail sale to consumers for safety glasses, protective eye wear, including face shields, and sporting goggles.
Anti-fogging towelettes for sale to the military and first responders for safety, anti-fogging and conditioning of lenses, masks, head gear and other applications, such as head's up displays,
Mar-resistant and stain-resistant coatings for high end vitreous china tableware used for heavy duty, usage situations, such as restaurants, cruise ships, casinos.
Clear protective coatings used on display panels and touch screens to make it easy to remove fingerprints. Applications include automotive and hand-held devices.
Protective and water-repelling coatings on interior and exterior glass and ceramic surfaces to make it easy to clean and prevent scale and grime encrustation.
Coatings for ceramic insulators used in transit and underground subways systems to prevent caking of metal dust and greases on surfaces to reduce maintenance and current leakage losses.
Marketing and Distribution
The company sells its Nano Magic branded consumer products directly to consumers and retailers in the United States and through a distributor in Canada. Direct-to-consumer sales are through the company's website, nanomagic.com, on Amazon and other online marketplaces. The company also has products in pharmacies, and big box retailers. Sales to big box retailers also include private label products under the retailers' names. Some of the company's products are incorporated into its customer's branded products. The company continues direct sales to opticians and ophthalmologists.
The company's industrial coating products are sold directly to institutional and industrial customers.
Research and Development
For the year ended December 31, 2022, the company's research and development expenses were $16,777.
Compliance with Laws and Regulations
The company's operations must satisfy governmental safety standards. Applicable safety standards are established by the U.S. Occupational Safety and Health Administration ('OSHA'), pollution control standards by the U.S. Environmental Protection Agency ('EPA') and other state and local regulations, including foreign regulation for products manufactured or shipped outside the U.S. The company takes these requirements into account in product development.
History
The company was formerly known as PEN Inc. and changed its name to Nano Magic Inc. in 2020 and then to Nano Magic Holdings Inc. in 2021. Further, the company changed its name to Nano Magic Inc. in 2022.
