International Battery Metals Ltd (IBATF)

[TradingCharts]

Is this equivlant to Ensorcia Metals, "scolarship for brine program? A type of pay to play?

"purchase a reserve osmosis desalination system"
Is this used in place? Or are they building it? My guess it is being built, and payments are made when certain milestones are met?

I looked online at Steelhead and their units are $5000 and up. This must be huge unit to cost $450,000 and built in place. Would they not need a building permit that one should be able to locate?

10. Deferred Acquisition Costs
On September 26, 2019, the Company, through its wholly owned subsidiary, entered into an agreement to
purchase a reserve osmosis desalination system. Under the terms of the agreement, the Company is required
to pay a total of US $450,577 (CAD $595,832). As at July 31, 2020, the Company had paid US $180,000
(CAD $241,439) (January 31, 2020 – CAD $238,032) which is included in deferred acquisition costs. The
remaining balance of US $270,577 (CAD $362,932) is due in fiscal 2021.