Milestones Estimated Timeline Estimated Cost
Obtaining Use Permit (1) January 2015 $ 5,000
Obtaining FAA Clearance (2) May 2015 $ 12,000
Completing Final Engineering (3) May 2015 $ 500,000
Completing Construction Contract (3) August 2015 N/A
Obtaining Power purchase Agreements (4) August 2015 N/A
Obtaining Interconnect to Grid (5) September 2015 $ 50,000
Commencing Construction (6) November 2015 N/A
(1) The Use Permit will be handled by the Company and its local counsel in Arizona. It requires two formal hearings before the City of San Luis, Arizona. The Development and Protected Development Rights Agreement insures the issuance of the Use Permit, subject to zoning regulations.
(2) The Company will pursue the FAA permit through a professional consulting firm which specializes in obtaining such permits.
(3) Final engineering and final contract negotiations will be conducted directly between the Company, its local counsel in Arizona and the general contractor.
(4) In order to acquire the Power Purchase Agreements, the Company has retained an advisor to assist the Company.
(5) The Company has engaged an expert consulting firm to pursue the interconnection to the electrical grid.
(6) Construction is estimated to take approximately 30 months; however the Company is budgeting for 36 months.
We estimated that the total cost of completing the above milestones would be approximately $600,000. Although we have a letter of intent with National Standard Finance, LLC who conditionally agreed to invest and co-own the project, there is no guarantee such financing will be completed; and even completed, there will be enough funds to complete the project. If we cannot obtain the financing in a timely fashion, it may delay or impair the project and materially affect our plans of operation.
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