RYMM - .0191 x .022 10k out today. Love the letter of intent with LaFarge North America. Love the insider financing convertible at .05 plus a warrant at .10. Very smart, imo, for a startup to let a major corporation like LaFarge develop their technology in exchange for royalties. Avoids having to deal with toxic financing like so many other startups. This one very heavily insider held with shares and warrants. An excerpt from the LOI:
"During the term of the Letter of Intent, the Company and Lafarge have agreed to do the following:
a) Lafarge has agreed to provide the time and expertise of Steve Butler, a Lafarge technician, to assist the Company in the commercialization of the Technology, for up to 50 hours per month, for a period expiring December 31, 2014. In addition, Lafarge has agreed to provide sufficient lab facilities and equipment to Mr. Butler and cover all of the expenses related to Mr. Butler’s services, including, but not limited to, salary, benefits and reasonable travel costs.
b) In exchange for Mr. Butler’s services, the Company has agreed to grant an exclusive right to Lafarge to exploit the Technology, subject to certain royalties, at 28 coal fired power generation stations under contract with Lafarge, up to 7 additional stations to be identified by Lafarge, and at facilities where Lafarge stores its coal by-products.
c) The Company has agreed to develop a business plan for the commercialization of the Technology and present it to Lafarge no later than January 31, 2015."
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