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Friday, December 06, 2002 8:42:35 PM
"Power Technology, Inc. (OTCBB: PWTC) in conjunction with BC Research is pleased to announce the formation of "NXCELL Batteries, Inc.", an advanced battery technology company. Power Technology, Inc. maintains 65% ownership of the newly formed, privately-held business with the remaining 35% held by BC Research,"
It states quite clearly that NXCELL is a newly formed, privately-held business.
NXCELL BATTERIES INC. is expected to attract government funding, tax credits and private venture capital with immediate revenue opportunities via military, marine.
The way I read this is that now NXCELL will be able to get money from Canada being a Canadian company with the help of BCRI.
It also states quite clearly. (As a Power Technology licensee in North and South America, NXCELL BATTERIES INC.)
Like I said I am confused?
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