Trans-Pacific Aerospace Company Inc. (fka TPAC)

[legaltips]

ZACKS report on TPAC

http://zolmax.com/trans-pacific-aerospace-company-given-neutral-rating-at-zacks-tpac/2938086/38086/

My guess, China will still Fund the money.

Trans-Pacific Aerospace Company, Inc. Qualifies for $2.2 Million Development Grant from China

* Reuters is not responsible for the content in this press release.
Wed Jan 19, 2011 9:00am EST

Trans-Pacific Aerospace Company, Inc. Qualifies for $2.2 Million Development Grant from China


Trans-Pacific Aerospace Company, Inc. (OTCBB: TPAC) announced today that its China enterprise has confirmed its eligibility to receive a 15 million yuan ($2.2 million) business development grant from China.

"We're delighted and appreciative that the Ministry of Science and Technology thinks so highly of us," said Bill McKay, Trans-Pacific Aerospace CEO. “Our company is now recognized as a domestic China bearing manufacturer and a high value company in Guangzhou’s Technology Development Zone. As soon as we finish our test parts and get certified by the U.S. Navy, we’ll continue discussions on the grant.”

Should Trans-Pacific Aerospace receive the $2.2 million grant, it will be permitted to use the funds for business development, including but not limited to new product R&D, the purchase of machinery and equipment, and building a global sales pipeline. The expectation is for grant funds to be paid out in the fourth quarter of 2011.