One: Term Sheet -- Really, why does it say "Joint Development Agreement Dated May 13, 2015" on top?
Two: The JDA listed it's own schedule, to which the "Complete and Definitive Agreements and PPA" would be complete by July 31, 2015.
Three: If CRQE/Cat Cay had entered into a Definitive Agreement and PPA, it would have been a material event. We would know about it.
Four: While the "market" may be small, it is still the market for CRQE.
You may think it is good, but I don't.