Pindi Products, Inc., a Reno company that's developing non-invasive scanning technology, has filed for protection while it reorganizes under Chapter 11 of the federal bankruptcy code.
The privately held company filed a petition for reorganization in U.S. Bankruptcy Court in Reno on Dec. 4.
The petition lists 35 creditors and about 350 shareholders. It was filed by Pindi President and Chief Executive Officer Guy Williams.
Representatives of the company didn't respond to calls after the filing.
The company had drawn favorable press and lots of investor interest in the past five years as it initially worked to develop technology that could monitor glucose in diabetes patients without requiring them to
prick a finger to draw blood.
Later, it shifted its focus to the use of similar scanning technology in security applications.
In an interview two years ago, the company's executives said they'd spent $1.6 million on the initial development of products and were looking to raise another $2.2 million to finish product prototypes.
Stephen Harris, a Reno attorney, represents Pindi.
