10-K for fiscal year ended December 31, 2020 (Released February 16,2021)
Current Mission
"Our plan of operation within the next six months is to utilize our cash balances to expand the existing electrolyzer technology program focused on significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth abundant materials to help usher in a Green Hydrogen economy. We will continue developing our silicon anode material processing technology for high capacity and low-cost Lithium-ion batteries."
Technology Development Partners
- On September 28, 2017, the Company entered into an Exclusive License Agreement (the “License Agreement”) with North Carolina A&T State University
- On May 26, 2017, the Company executed a joint development agreement with Top Battery Co., Ltd. (“Top Battery”), a leading manufacturer of advanced lithium-ion battery solutions, based in the Republic of Korea, to assess, develop, manufacture, and/or market high power, high energy lithium-ion batteries integrating BioSolar technology and Top Battery technology.
- On June 14, 2018, the Company executed a joint development agreement with Silicio Ferrosolar SLU, a subsidiary of Ferroglobe, PLC (NASDAQ:GSM), for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium-ion batteries by integrating BioSolar technology and Ferroglobe silicon materials.
- On March 6, 2020, the Company executed a joint development agreement with Soelect, Inc, for collaborative efforts to assess, develop, and/or market a processing technology to produce silicon oxide anode materials for electric vehicle lithium-ion batteries.
- On December 14, 2020, the Company executed a sponsored research agreement with the University of California, Los Angeles, for collaborative efforts to discover and develop efficient and stable earth-abundant material-based catalysts for hydrogen production through water electrolysis.
8-K dated March 1, 2021
"extend the term of the Amended Agreement to March 31, 2023; (ii) amended the cost to the sponsor for the University’s performance to $1,410,580 and (iii) supplemented the exhibits for ‘Scope of Work’ and ‘Payment Schedule’ respectively."
Patents
~per page 4~
"On May 19, 2011, we filed a U.S. patent to protect the intellectual property rights for “Photovoltaic Module Backsheet, Materials for Use in Module Backsheet and Process for Making the Same,” application number 13/093,549. The inventor listed on the patent application is Stanley Levy, our former Chief Technology Officer. The Company is listed as assignee. This patent was issued on July 14, 2015.
On March 26, 2018, North Carolina Agricultural and Technical State University filed a U.S. patent application U.S. Serial No. 62/473,772 titled “Prelithiated Silicon Particles for Lithium_Ion Batteries”, and we signed an Exclusive License Agreement for the use of the technology effective September 25, 2017. The patent was issued on December 29, 2020.
On May 19, 2020, we filed a provisional U.S. patent application to protect the intellectual property rights for “Silicon Alloy Anode for High Power Batteries,” application number 63027154. The inventor listed on the patent application is David Lee, our Chief Executive Officer. The Company is listed as assignee."
~per page 9~
"We currently hold a patent in the US, but still have a patent pending in the US. There is no guarantee the pending patent will be granted."
~per page 5~
"There are a number of companies manufacturing lithium-ion batteries including, Panasonic, Samsung, LG Chem, and Tesla. We plan to seek licensing arrangements for our lithium-ion battery technology with a select group of companies such as the ones listed above, and do not expect to be their direct competition."
"Pursuant to the terms of the License Agreement, the Company is obligated to pay all costs of preparing, filing, prosecution, issuance and maintenance related to the patents underlying the intellectual property licensed by the Company. In addition, the Company is obligated to make certain annual royalty payments and sub-licensing fees. On September 28, 2020, the Company again paid to the University annual non-refundable licensee fee of $15,000."
Maybe I made all this up?!?
Can't go out on this one quietly, I gotta let the people decide!!! ;)
AI
