High Wire Networks Inc (HWNI)

[tykundegex]

I misspoke. It is Lafarge who doesn't appear willing to put up more money, hence this part of the filing where it's implied the EU grant is the company's primary hope to continue into Phase 4. I admit it was speculation on my part -- should the EU grant not go through, Lafarge may well still foot the bill. It just doesn't sound that way.

A second integrated research and development project will study carbon dioxide conversion to alternative chemical products by electrochemical reduction, with a focus on catalyst materials and lifetime. This project has, for the past two years, been our only source of revenue. From Phases 1 to 3 (lasting from September 2013 to September 2015), we received approximately CDN$611,125. The Phase 3 review occurred in September 2015 and tentatively approved for advancement into Phase 4. The timeline and structure of Phase 4 will depend upon the results, expected in October 2015, of a large-scale funding application submitted to the European Union in June 2015.