Neah had quite the list of deals pending... it would be great if we could get more details than the last shareholders NOV 3rd letter which was rather brief... there would much more support with statement as to the status of pending issues from prior shareholder letters...
What is the status of Shorai Acquisition
Status of the Shorai Acquisition
Due to the lack of transaction financing, we have decided to postpone the Shorai Acquisition until a larger financing can be closed.
Business Update:
The work related to DOE grant has started, and we have been exchanging various information with Argonne National Laboratory. We will continue to update as we make progress on this.
We are negotiating with groups in India to license the non-battery technologies for certain market rights in India. This is still in early stage, and we continue to maintain dialog. The group that we eventually partner with would also be instrumental in negotiating the licensing with the DRDO.
We are getting interest from multiple parties from the consumer to the defense sector on the battery. We continue to maintain dialog with these groups while we strive to complete the capitalization of the Company.
Thank you for your continued support, and best regards,
Chris D'Couto
President & CEO
Detail from the March 2016 shareholder letter could use a follow up statement....
Business update:
NEAH was invited to participate in the White House briefing on Feb 17. We have had various commercialization and capitalization discussions occur based on the networking at that event. As a direct result of attending the White House conference on Climate Change, we have been invited to attend three USTDA Reverse Trade Missions Focused on Energy Storage. The delegates are senior officials from South Africa, Jordon, Brazil, Colombia, India, the Philippines, Turkey and Vietnam.
I recently visited the United Arab Emirates (UAE) to explore certain licensing relationships to implement manufacturing and other partnership agreements. There is tremendous interest with the entities I met with to develop UAE into a renewable energy focused hub. We continue to explore and to finalize a mutually beneficial business relationship here.
We are in discussions with the Economic Development Authority of State in the USA regarding relocating to that State to enable their focus on renewable energy and battery storage. We expect this to get finalized in Q2 2016.
We continue to make progress on the previously announced MOU with a South Africa entity. We are in almost daily discussions with them, and are targeting an agreement with them by end of Q2 2016. This will provide a key production pathway for meeting our customer needs.
We have been negotiating a licensing agreement with an entity in India for the BuzzBar Suite and the Formira HOD products. India has been identified as one of the fastest growing markets for off-grid power, and this relationship can enable NEAH products to serve this region.
We have been negotiating a Formira HOD licensing with a group in Taiwan for the Greater China Region. Similar to India, the demand for off-grid power is significant, and continuing to grow in this region. This licensee partner is expected to visit us in the near future which will enable us to complete the anticipated transaction.
Our discussions with the DRDO are ongoing, and we expect to schedule a visit in Q2 2016.
We plan to submit for two separate grants for certain DOE funding with a National Laboratory in the US during the next 30 days.
Finally, the PowerChip® Battery continues to get tremendous interest from consumers and commercial entities. We are negotiating preliminary orders for this product, and due to the outsourced manufacturing model, we believe we can manufacture this very capital efficiently
And we wold all like a Sales Update
Customer Sales / Licensing Discussions
The Company is also actively engaged in the following sales and licensing initiatives which are expected to deliver results and sales revenues in the near term:
We have a non-binding MOU for a strategic Joint Venture with a South African Consortium comprised of a Provincial Government and Platinum Mining Conglomerates regarding the sale and transfer of a license to produce NEAH Power’s fuel cell products for sale in Africa and the Middle East. Said JV is expected to generate significant revenues, as well as provide a preferred source of raw materials for the production of NEAH Power fuel cells and reformers. This JV is expected to generate short term revenue and ongoing royalty payments creating significant long term value for the Company. We are finalizing dates to visit, and to potentially execute final documents during the visit, for this initiative.
Our Teaming Agreements with Clear Path Technologies, Tectonica (Pvt) Ltd, S4W Technologies, Silent Falcon and Black-I Robotics, to integrate NEAH Power’s power generation and energy storage technologies in mature product lines with established customer bases, while rapidly and cost-effectively developing global markets for its products. Some of the licensing agreements under negotiation, discussed in Part I, developed from these Teaming agreements. Anticipated sales revenues under these teaming agreements is expected to reach $20mm in three years.
We are discussing a strategic Joint Venture with a Street Furniture/Outdoor Advertising company regarding the sale and integration of NEAH Power’s remote power solutions for long-term operation of public advertising displays to be installed under existing municipal contracts. Anticipated sales revenues under this JV is expected to reach $6mm in two years.
Thank you for your continued support, and best regards,
AI
