I've been in this one for a long time TPDI. (3 years)_. It is really on the verge....
You might want to check it out..
AQSIQ Establishes Details and Target Pricing Structure Regarding Use of True Product ID's Technology For Chinese Liquefied Natural Gas Containers
Last update: 9/4/2007 8:30:04 AM
BEIJING & PHILADELPHIA, Sep 04, 2007 (BUSINESS WIRE) -- True Product ID, Inc. (TPDI) announced that the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") () has agreed to supplementary provisions to its project cooperation agreement with TPID's Chinese joint venture affiliate company, True Product ID Technology (Beijing) Limited ("TPID Beijing"), which establish details and a target pricing structure regarding the use of TPID's S-DNA and KMACK technologies for Chinese liquefied natural gas ("LNG") bottles, tanks, and other containers.
AQSIQ's supplementary provisions require TPID Beijing to provide a special equipment security/safety logo, and to implement a special equipment identification security management system, for LNG containers throughout China. Based on official Chinese records, AQSIQ projects that there are currently a total of 130 million LNG tanks in China and that total is expected to increase by approximately 10 percent every year. AQSIQ wants TPID Beijing to complete marking of the LNG containers nationwide within 3 years, with marking to begin immediately in select areas.
AQSIQ's supplementary provisions further require TPID Beijing to provide certain types of its proprietary S-DNA readers/scanners to approximately 25,000 LNG gas stations and 15,000 manufacturers throughout China and to integrate the stations and manufacturers into a special equipment identification security management system.
In its supplementary provisions, AQSIQ sets out certain "target" prices for TPID Beijing to provide (1) a special equipment identification security/safety logo for 130 million LNG tanks (a price for marking each LNG tank); (2) 50,000 of a certain type of its proprietary S-DNA readers/scanners; (3) 15,000 of another type of its proprietary S-DNA reader/scanner; and (4) an information management system for 50,000 platforms/ports for LNG gas stations, special equipment manufacturers and other entities in China.
Under the target prices set forth in its supplementary provisions, AQSIQ projects the total gross revenue over a 3-year period for the use of TPID's technology for LNG containers to be approximately 20.13 Billion Chinese Yuan, which according to , equates to approximately 2.67 Billion U.S. Dollars as of August 30, 2007. TPID has not yet completed its analysis as to what would be net revenues. TPID anticipates it will be in a better position to more fully ascertain the expenses needed to implement this LNG tank phase of the AQSIQ project cooperation agreement as more details are gathered during TPID Beijing's continued coordination and consultation with AQSIQ, provincial and local authorities, LNG gas stations, and special equipment manufacturers.
TPID expects to post a copy of and further information about the supplementary provisions on TPID websites. More specific details about the supplementary provisions will come as TPID Beijing works with AQSIQ to implement them.
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