“Our technology offers huge advantages in the areas of fuel consumption and environmental impact. The Chinese immediately grasped the potential opportunities for our flagship product. The executive branch of AMEC wishes to explore these advantages and we are very excited at the prospect of advancing our technology to another level,” commented Mr. Michael Rouse, CEO of Turbine Truck Engines, Inc. “AMEC has the capital resources, experience, and engineering expertise required to rapidly advance our technology to satisfy real-world applications,” he added.
Looks like the Chinese are not to interested in grasping their flagship technology. As the story once again returns to the US. How many years did the China story last 3? Every JV has failed.
Par the 10Q "The Company has begun discussions with Alpha Engines, Inc to negotiate both a reduction of the accrued royalty payments and future financial considerations related to the Company's exclusive licensing agreement with Alpha Engines, Inc. for the Detonation Cycle Gas Turbine (DCGT) engine. Additionally, the Company has begun early stage discussions with a North American based entity to re-initiate research and development of the DCGT engine technology.
If the Company can successfully demonstrate a highway truck engine using the technology, the Company intends to form a joint venture with a major heavy duty highway truck manufacturer to manufacture, market, and sell turbine truck engines for use in heavy duty highway trucks throughout the United States."
Alpha engine? They are negotiating with Scraggs which is now headed into its 2nd month. Not sure why this takes so long as Scragg's is not formally educated and has no working engines to his credit, yet TTEG and 236 want to pay for his trade secrets. I find it interesting that Rouse and Scragg's are the original architects of this little adventure called TTEG. As well as TTEGs unbending resolve to continue to negotiate with Scragg's and debate the royalty rate for an engine that doesn't work. It simply doesn't make sense. This story line has been repeated for years with no resolution.
"On January 23, 2013 the Company entered into a Letter of Intent with BluGen, Inc., a California corporation ("BluGen") for the purpose of setting the basis for the joint development of a natural gas to Methanol technology ("GTM Technology"). Under the terms of the Agreement, BluGen will work with the Company, and the inventor, Robert Scragg to recreate and expand upon the original designs created by Mr. Scragg and to re-develop a lab version and control system, among other things. These items are to be completed under a timetable that has been agreed upon by the parties."
BluGen exists only on paper as there is no record of anything. No physical plant, no employees, no products. Much like TTEG it is a shell. Try looking up Alpha engines, BluGen (which is a clever name ripoff of the real BlueGen), Fujian Xinchang Leather Company Limited, ETS Energy Technology Services Co., Ltd, Dr. Chang and his new Company ZHENG YU CO. (ZYC), or 2367416 Ontario, Inc.
We will be dependent upon the 236 Loan Agreement, our existing cash, together with anticipated net proceeds from any public offering and future debt issuances and private placements of common stock and potential license fees, to finance our planned operations through the next 12 months.
This is a collection of people as one can't call them scientists because no one has a formal education in anything related to science, that are pushing a green story that to date has consumed 19 million dollars. There is nothing to show as the DCGT still needs to be redesigned, and the HPBS has yet to be built. The last effort failed because of a faulty control value which in turn caused TTEG to loose 300k dollars to ETS. Now they are going to go out and buy the technology and team up with BluGen another shell company to perpetuate the story. Stay tuned because the penny letter will trumpet these accomplishments as reasons to buy, but buyer beware nothing will actually be accomplished as that is the name of the game.
AI
