PALM BEACH GARDENS — Nanotech firm Sonavation has defied the rules of commerce by surviving for years in startup mode, with no revenue.
Has that approach run its course? Sonavation‘s landlord has sued the company, saying it has missed rent payments on its facilities in Palm Beach Gardens.
In two suits filed in Palm Beach County court, landlord John C. Bills Enterprises says Sonavation has missed lease payments.
A Sonavation official says the dispute already has been settled.
In the larger lease, Sonavation pays John C. Bills $17,133 a month for 17,133 square feet of office and lab space at 3920 RCA Blvd., according to court documents. In a second lease, Sonavation pays John C. Bills $2,686 a month for 2,149 square feet of garage space at 357 Hiatt Drive.
Sonavation has spent a decade and tens of millions of dollars developing what CEO Karl Weintz calls “the world’s smallest ultrasound imaging sensor.” Unlike the rudimentary fingerprint readers in today’s phones, he says, Sonavation’s security device can scrutinize the nerve endings and capillaries under the skin of your fingertip.
The company has been hoping for a big deal with Apple, Samsung or another smartphone maker.