BIG NEWS!!! Oyster shell market cornered!!! First American Scientific Corp (FASC - OTCBB) signs agreement to license KDS technology and set up demo facility in Korea
Friday November 18, 8:30 am ET
VANCOUVER, Nov. 18 /PRNewswire-FirstCall/ - Brian Nichols, President of First American Scientific Corp. (FASC) is pleased to announce the signing of a Memorandum of Understanding with JNK Heaters Co., Ltd. of Seoul, Korea, to license the marketing of the KDS System in Korea.
As the first step, JNK will establish a marketing team and set up a fully operational KDS processing facility in Korea for customer evaluations. One KDS 250 system has already been sold to Daeyun Enterprises for processing oyster shells to recover calcium. The second sale will be to JNK to fulfill the conditions of the License agreement. Daeyun has estimated a need for up to 50 KDS machines in S. Korea for the seashell application alone. JNK will provide technical support to the Daeyun project.
A market analysis prepared by JNK concluded that there is also a significant need for the KDS technology in Korea in the energy and waste management fields. The addition of the KDS system to their product lines will significantly enhance the business opportunities for both JNK and FASC in Korea. JNK has agreed to pay a substantial licensing fee and purchase one KDS machine in an amount that will be announced when the formal License agreement is signed. We are confident that this agreement will bring significant success for both parties.
Certified to ISO standards ISO 9001 & 14001, JNK's engineering division designs and fabricates state of the art process fired heaters and has become one of the major furnace suppliers in not only Korea, but also in the world- wide market. Their product lines include process fired heaters, waste heat recovery systems, air pollution control systems as well as they provide project management and engineering services to the industrial heating community.
According to Tae Kyu Kwon, B. Eng, FASC 's newly appointed Director of Marketing for Korea, "over the last 25 years I have witnessed JNK grow from a small division of a local Korean engineering firm into an ISO certified marketing and fabricating specialist, with clients around the globe. We are most fortunate to have the opportunity to work with a group with such experience and integrity." Mr. Kwon lives in Vancouver, Canada, and now specializes in international trade with Korea. He is a welcome addition to the FASC team, and will focus on opening doors for FASC to advance into other markets in Asia.
This is FASCs fourth sale of KDS equipment in Asia, with one system installed at a biomass power plant in Malaysia, a second being constructed for delivery to Japan, and now, two sales in Korea. FASC requires all Licensees to purchase and operate at least one KDS System as part of its marketing program. Please refer to our web site for further details.
Certain information and statements included in this release constitute
forward-looking statements within the meaning of the Federal Private
Securities Litigation Reform Act.
ON BEHALF OF THE BOARD OF DIRECTORS
C. Kantonen, Chairman
FASC: (NASD Bulletin Board) Web Site: www.fasc.net
CONTACT: Market Smart Communications Inc., 1-877-261-4466
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
