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Arpana Verma

According to allegations of mismanagement and self-dealing against Jim Phillips, the former NanoMech CEO committed the financially struggling company to a Dallas office lease in 2015 and furnished the space with expensive furniture and extravagant artwork, some of which is now missing. Estimated cost of the lease obligation and furnishings to house two employees: Nearly $1 million.
Banking & Finance / Insurance / Legal

NanoMech Investors Pursue Claims of Self-Dealing, More

Accusations of corporate mismanagement against the former CEO of NanoMech, Jim Phillips, have intensified into allegations of self-dealing and securities fraud. read more >

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NanoMech’s global campus in Springdale
Investments / Legal / Manufacturing

NanoMech Files for Chapter 11 Reorganization

The Springdale nanotechnology firm estimates both its debts and its assets as between $10 million and $50 million. Documents say the company has struggled through continual losses from operations together with slow revenue growth. read more >

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NanoMech CEO Jim Phillips, NanoMech founder Ajay Malshe and UA Chancellor David Gearhart unveil a plaque recognizing the company’s R&D 100 award in 2013.
Banking & Finance / Legal / Manufacturing

Investor Angst Boils at NanoMechLock Icon

If Jim Phillips had a New Year’s resolution to get NanoMech’s financial house in order during 2019, that aspiration didn’t survive the first day. And now a key creditor has implied it wants Phillips gone as chairman and CEO of the lubricant manufacturer. read more >

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