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Patriot Energy Moves to an LOI With Toshent Overseas
9:51a ET April 22, 2009 (Market Wire)
Patriot Energy Corporation (PINKSHEETS: PGYC) announced today that they have signed a letter of intent with Toshent Overseas for the purchase and distribution of the H2O Injectors.

According to the LOI, Toshent Overseas will purchase and distribute the H2O device in the Russian marketplace and Eurasia on a non-exclusive but preferential basis. The companies have now set the number of device to be delivered to 12,500 units per month minimum (150,000 per year) as oppose to the previously mentioned 100,000 yearly units. The company expects to receive a purchase order on or before April 29, 2009.

This potential order consolidated with the previous order from TI Innovation, would represents total revenues in excess of $340 million over the next 5 years.