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Our February Activity Report
announcing the Licensing Auction for our electric-generator systems, many
potential investors and partners requested Due Diligence. We gave them access
to needed documents, after which the lawyers of 20 companies completed the
reviewing process three weeks before the Auction (a few of the lawyers are
still reviewing the documents).
- Several companies (approximately 5 percent)
asked for the know-how documents and we declined their request, as these are
proprietary, trade-secret materials. All other interested companies and
investors were completely satisfied with the information we provided, and we
continue working with them after the February presentation.
- We have moved the date of the Auction to April
from February due to the fact that all participants requested additional time
for questions and reviewing.
- We received about 1,200 applications for
participation in the auction.
- 730 applicants were not approved as they did
not submit IDs and other necessary materials.
- Among the remaining 470 applications, there
were 26 from Hong Kong, 19 from Singapore, 17 from the Netherlands, and 14 from
Great Britain, among many other nations.
- The majority of the participants-bidders
requested additional time for their witnesses and technical experts to inspect
an SH-box prototype. We granted permission to inspect the box after the NDA was
signed by those parties.
- We are processing dozens of agreements, and we
have hired two additional lawyers to manage this particular task.
- About 60% of our applicants are potential
distributors or agents. Even though we do not need their services (and we have
notified them) we are willing to work with them.
- The remaining 40% of applicants consisted of
two government representatives, venture funds, private investors, and numerous power
2. Here is the list of specifications we
demonstrated to the participants who signed the NDA. We showed a prototype of
an SH-box (rated at 5.2 volts and 1.3 amps), which consisted of twenty cells
(100x100 mm length and 6 mm thickness). The prototype was under the load of a
fan and LED bulb (5 volts and 1.5 amps). In compliance with NDAs, the
technicians could measure the temperature of the cells within a period of 6
hours, along with measuring voltage and current, and detecting alpha and other
types of rays. They were given an opportunity to heat the cell up to 100 C and
within 30 minutes to measure voltage and current. We also demonstrated short
circuit of one cell in comparison to a short circuit of a regular battery.
3. All technical specialists requested a
larger SH-box (rated at 1 kW/hour and 0.125 cubic meters). We are getting ready
to demonstrate a 600W SH-box in accordance with the specifications announced. Along
with working on a 600W Box, we are in negotiations for selling Licenses to
various countries. We have reached significant progress with the Philippines,
Malaysia and several other countries. The company has decided not to sell a License
to Vietnam and will instead invest its own money into this country.
4. We are grateful to all applicants and participants
for drafting mutual legal and technical documents.