It's ALIVE!!! .... $PTOI News:
Negotiating key strategic partnerships.
In July 2017, we announced the signing of a new memorandum of understanding (MOU) with a potential partner regarding the licensing of our technology and a potential sale of processor units. We are still in the process of moving from the MOU to a definitive agreement.
If and when the agreement is consummated, it is anticipated that the first site, located in the southern United States, would house two P2O processors, and could eventually lead to deployment of P2O processors in 15 to 20 similar facilities. The initial purchase order would be for the two units currently in our inventory. Final assembly and testing of the units prior to shipping would require approximately six months from signing of the purchase order. Instrumentation and other necessary equipment would be secured prior to the shipping date. Several additional months would be required for installation after the units have been shipped.
In addition, we are in the early stages of discussion with two potential partners in Canada regarding the licensing of our technology and potential sale of processor units. Of course, we cannot assure you that we will reach a definitive agreement on either of these projects, however, management remains optimistic about the opportunities that lie ahead.
Looking Ahead.
The above developments—including the strengthening of our governance structure by adding two new outside Directors—are part of our ongoing and successful transformation of the firm’s profile.
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