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Thursday, 10/20/2016 7:24:51 PM

Thursday, October 20, 2016 7:24:51 PM

Post# of 10295
Did you read the 8-k out for JPEX today? I see big $$ in this deal!
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11640333

Environmental Technologies, Inc is going to install patented equipment and technology for waste gasification at the JPEX 's facilities in Rosarito, Mexico for the benefit of the Company.


- IET has developed and patented certain technology described in United States Patent Number 6,439,135 (“Patent”), which, along with related know-how, manuals and other information pertaining to the use of the technology (collectively with the Patent, the “Technology”), is used to operate a municipal waste gasification system (“System”).


Mr. Caywood contracted to purchase the Equipment for an aggregate of $29,000,000 in six payments as follows:

1. The first payment (10% of the purchase price) $2,900,000 shall be paid to IET within (5) days upon the release of funds from the lender, IET will use these funds as a mobilization fee and during the next 60 days after receiving this payment, IET will submit all plans and engineering to purchaser for final review and approval. After the final engineering and plans are received by purchaser, the purchaser will have 10 days to review all plans and to either approve or request in writing any changes or clarification to said plans.

(Note: on the date that IET’S final plans are approved by the purchaser, IET will begin to reference that date for scheduling purposes and reference it as day 1 of the projects construction.

2. The second payment of $7,250,000. (25% of the Purchase Price) shall be paid to IET upon Mr. Caywood’s certification and acceptance of the shop drawings and other engineering work relating to the installation of the Equipment. This payment will be due to IET 70 Days from the day of the initial funding of 10% is received. (or proportionally earlier if purchaser approvals plan sooner than the allotted schedule above) IET will apply this payment towards all materials and to commence with the construction of the plant at the Tulsa facility, as well as for deploying a team of IET engineers and workers to assist with the purchaser’s site preparations.

3. The third payment of $7,250,000 (25% of the Purchase Price) shall be paid to IET 160 days from day 1 IET's will delivery to Mr. Caywood a certification that the erection of the steel framework of the plant has been completed, and initial testing of the plant shall commence at the Tulsa facility.

4. The fourth payment of $5,800,000 (20%) of the purchase price) shall be paid to IET 205 Days from day 1 and upon the final check out, testing and approval of the plants operation by Mr. Caywood. This testing and inspection will take place at the Tulsa factory. At the time of approval, IET will initiate the disassembling of the plant and commence with the shipping of the plant to the purchasers site.

5. The fifth Payment of $2,900,000 (10% of the purchase price) shall be paid to IET 235 Days from day 1 and upon additional Engineers and the equipment’s initial arrival at the Rosarito, Mexico site.

6. The sixth and final payment of $2,900,000 (10% of the purchase price) shall be paid to IET 295 Days from day 1 and upon the time that the systems operational abilities commence as contracted, at the site in Rosarito, Mexico.

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