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Spartan Trading



Disseminated on behalf of FendX Technologies Inc. (FendX)


FendX – $FDXTF

This communication is not an offer to buy or sell securities nor is it to be construed as personal investment advice. Nothing contained in this communication should be relied upon as a promise or representation as to future performance.


FendX Technologies Inc ($FDXTF) stands at the vanguard of nanotechnology innovation, aiming to revolutionize pathogen control on surfaces. Leveraging groundbreaking research from McMaster University, FendX’s mission is to address the pressing global challenge of pathogen transmission, offering a paradigm shift in surface protection. FendX’s lead product, REPELWRAP™ film, is poised to enter commercial production in late 2024.

Given the rising concern over healthcare-associated infections and the inadequacies of current disinfecting practices, FendX’s technology may address a critical market need, tapping into a global Anti-Microbial Coating Market that is estimated to be worth $4.43 billion in 2024 and reach $6.42 billion by 2029, growing at a CAGR of over 7.5% between 2024-2029.

Investors seeking exposure to the burgeoning field of nanotechnology-driven pathogen protection control could benefit from FendX’s compelling investment proposition – potentially capitalizing on an early stage company who are positioning themselves for growth and market leadership.

Spartan’s Technical Analysis

Fendex Technologies Inc (OTCQB: FDXTF; CSE: FNDX)

  • Float: 59.03M
  • Shares Outstanding: ~72.56M
  • Strategic Investors & Management Ownership: ~34%
  • Market Cap: 24.67M (USD) 30.84 (CAD)
  • Idea: Long $FDXTF $0.30 – $0.36
  • Spartan’s 1st Target Area: $0.45
  • Spartan’s 2nd Target Area: $0.56
  • Stops: $0.20
  • Idea: Long $FNDX.CN $0.40 – $0.44
  • Spartan’s 1st Target Area: $0.52
  • Spartan’s 2nd Target Area: $0.62
  • Stops: $0.30

$FDXTF | $FNDX.CN Long Idea.
Range break setup off the lows here, steady grind higher with room for continuation. IMO this can make a move in the short term.


Market Opportunity

The Problem
The rampant spread of pathogens presents a formidable challenge, with conventional disinfection methods falling short in controlling transmission and bacteria increasingly becoming resistant to antibiotics. As a top 10 frequent cause of death in the United States,1 the US Center for Disease Control and Prevention notes that ~1.7 million hospitalized patients acquire health care-associated infections (HCAIs) annually while being treated for other health issues. With more than 1 in 17 patients dying2 from HCAIs, it is estimated to cost the U.S. an astonishing 28 billion per annum.3

Market Size
The global Anti-microbial coatings market size is estimated at $4.43 billion (USD) in 2024 and is expected to reach $6.42 billion (USD) by 2029, growing at a CAGR of more than 7.5% during the forecast period.4

The global nanocoatings market size was estimated at $13.51 billion (USD) in 2024 and is projected to reach 59.3 billion by 2031, growing at a CAGR of 22.4% from 2024-2021.5

In my opinion (IMO) this presents a major market opportunity heading into the future whereas even if $FDXTF is able to capture a small portion of the market share it could still represent a significant amount of revenue and future opportunity.

Innovative Technology: 
At the forefront of $FDXTF product portfolio is REPELWRAPTM film, a potential game-changing innovation designed to safeguard high-touch surfaces. Leveraging groundbreaking research rom McMaster University, FendX’s patent pending nanocoating’s have exhibited unparalleled efficacy in repelling pathogens in lab settings, demonstrating a >98% reduction in adhesion of a COVID-19 like virus, E. coli, B. subtilis and MRSA.

Currently in pilot manufacturing runs, the commercial production of REPELWRAPTM film is anticipated to begin in late 2024, with future launches  in Canada, followed by expansion into the U.S. and other global markets.

Expanding Market Applications: 
The potential for REPELWRAPTM film and follow-on FendX spray to be used in numerous industries may create a broad market base. IMO, one of the most exciting opportunities for $FDXTF would be its application of nano-coated catheters in development to reduce infections and blood clots. Nano-coated catheters have shown a >96% reduction in the attachment of E. coli after 48 hours of exposure and a >95% reduction in blood / fibrin networks after 24 hours of whole blood flow exposure in McMaster’s lab.

The nanocoated catheter is currently in prototype development, and if successful, $FDXTF could be in a unique position to be able to offer a product that could potentially reduce, for example, Foley catheter-associate infections, affecting an estimated 1 million people a year in the United States.6

Path to Success

Strong Partnerships: 
$FDXTF collaborations with well established manufacturers like Dunmore International Corp. and nanoComposix LLC are instrumental in leading to potentially scalable production of the film and spray technologies, respectively. Utilizing these strong alliances with industries leaders will not only help to expediate the advancement of their film and spray technologies but are expected to support a seamless transition from R&D to commercialization. With a clear roadmap and established alliances, FendX is well positioned to deliver its innovative solutions broadly in the future.

Robust Intellectual Property Portfolio: 
FendX is building a strong intellectual property portfolio to safeguard its technological advancements in multiple jurisdictions. With pending patents covering nanoparticle and surface formulations for both the film and spray technologies, and catheter coatings, $FDXTF is building a formidable barrier to entry for competitors. This intellectual property fortification bolsters FendX’s market position and underscores its commitment to innovation.

Growth Strategy: 
FendX’s growth trajectory is anchored in innovation and expansion, utilizing a capital-light business model by relying on contract manufactures for production, licensing to 3rd parties to sell and market their future products and maximize their capital with non-dilutive funding. The company is poised to explore additional applications of its nanotechnology, potentially unlocking new revenue streams and market opportunities. Furthermore, $FDXTF aims to capitalize on in-licensing and acquisition prospects to augment its product pipeline and intellectual property portfolio. Expansion into global markets, particularly the U.S. and globally, represents a pivotal milestone in FendX’s growth strategy, enabling widespread adoption of its disruptive technology.

Proven Management Team: 
$FDXTF is guided by a seasoned management team with a wealth of experience across various facets of the pharmaceutical and biotech industries. Led by Dr. Carolyn Myers, Andrea Mulder, and Rose Zanic, FendX’s leadership brings a potent combination of entrepreneurial acumen, technical expertise, and financial prowess. This formidable team has significant experience in developing and launching product, as well as M&A and licensing positioning them to steer FendX towards success and with the goal of delivering substantial value to investors.

Regulator & Market Acceptance: 
As with all early-stage companies there are inherent risks to investors. FendX must navigate regulator approvals which ensuring market acceptance for its products. This may require additional financing to support its operations and product launches. That said, given the potential market opportunity, strong partnerships and robust intellectual property portfolio I feel that FendX has made good strides towards mitigating their risk at this stage.


Potential Disruptor: 

$FDXTF represents a compelling investment opportunity in the nanotechnology and healthcare sectors. The company’s innovative products in development are anticipated to address a significant market need for effective pathogen control on surfaces, with broad applications across various industries. Coupled with a solid strategic growth plan and an experienced management team, FendX is well-positioned for substantial growth and potential value creation for investors.

Investors seeking exposure to the burgeoning field of nanotechnology-driven pathogen protection control stand to benefit from FendX’s compelling investment proposition. With a goal to move into commercial production of REPELWRAP™ film by the end of 2024, establishing strategic alliances with manufacturers and building of a robust intellectual property portfolio, $FDXTF has the opportunity to enter into a growing billion dollar anti-microbial market opportunity that innovative surface protection solutions may provide.

As FendX embarks on its journey to disrupt the status quo and develop innovative solutions to pathogen control on surfaces, investors have the opportunity to join forces with a visionary company who’s goal is to positioning themselves for growth and market leadership. Together, we believe we can shape a safer, healthier future for generations to come, while unlocking potentially significant value for shareholders.

  • Idea: Long $FDXTF $0.30 – $0.36
  • Spartan’s 1st Target Area: $0.45
  • Spartan’s 2nd Target Area: $0.56
  • Stops: $0.20
  • Idea: Long $FNDX.CN $0.40 – $0.44
  • Spartan’s 1st Target Area: $0.52
  • Spartan’s 2nd Target Area: $0.62
  • Stops: $0.30

Range break setup off the lows here, steady grind higher with room for continuation on the Canadian Side into that all time high area of .52. IMO this can make a move in the short term.

Current Idea is a long on $FDXTF | $FNDX.CN
More information on FendX, including their most recent presentations can be found here.
Best Regards,
Spartan (aka ‘Chris’)

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