The Tirex Corporation (TXMC)

[Johnnymangoes]

The first group, representing investors from India, after signing a letter of intent with Simpro, could not come to agreeable terms with Tirex. The second group of prominent North American developers is currently doing its due diligence on New York and other overseas projects, including Ireland, and has recently met with Simpro and Tirex. It has been represented to us that both the American and Irish interests have significant financial resources to support the purchase of one or more TCS Systems. This group has already been in contact with Simpro and has proposed, among other things, that they would supply their own front end to the system (everything up to the freezing chamber) and Simpro is reportedly amenable to this concept. The Tirex technology does not involve any of the front-end systems. Supplying their own front end would obviously cause an appreciable reduction in the Euro cost of equipment to be supplied and installed by Simpro.



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