The second quarter is over but maybe there's things in the works... They were DOE semifinalist... They would need have something...to be semifinalist...we know the DRDO deal worked.
NEAH was invited to participate in the White House briefing on Feb 17. We have had various commercialization and capitalization discussions occur based on the networking at that event. As a direct result of attending the White House conference on Climate Change, we have been invited to attend three USTDA Reverse Trade Missions Focused on Energy Storage. The delegates are senior officials from South Africa, Jordon, Brazil, Colombia, India, the Philippines, Turkey and Vietnam. I recently visited the United Arab Emirates (UAE) to explore certain licensing relationships to implement manufacturing and other partnership agreements. There is tremendous interest with the entities I met with to develop UAE into a renewable energy focused hub. We continue to explore and to finalize a mutually beneficial business relationship here. We are in discussions with the Economic Development Authority of State in the USA regarding relocating to that State to enable their focus on renewable energy and battery storage. We expect this to get finalized in Q2 2016. We continue to make progress on the previously announced MOU with a South Africa entity. We are in almost daily discussions with them, and are targeting an agreement with them by end of Q2 2016. This will provide a key production pathway for meeting our customer needs. We have been negotiating a licensing agreement with an entity in India for the BuzzBar Suite and the Formira HOD products. India has been identified as one of the fastest growing markets for off-grid power, and this relationship can enable NEAH products to serve this region. We have been negotiating a Formira HOD licensing with a group in Taiwan for the Greater China Region. Similar to India, the demand for off-grid power is significant, and continuing to grow in this region. This licensee partner is expected to visit us in the near future which will enable us to complete the anticipated transaction. Our discussions with the DRDO are ongoing, and we expect to schedule a visit in Q2 2016. We plan to submit for two separate grants for certain DOE funding with a National Laboratory in the US during the next 30 days. Finally, the PowerChip® Battery continues to get tremendous interest from consumers and commercial entities. We are negotiating preliminary orders for this product, and due to the outsourced manufacturing model, we believe we can manufacture this very capital efficiently While our capitalization situation is very challenging, the management is diligently working to complete various capitalization and commercialization activities that will help unlock the potential of the Company. We are pursuing licensing agreements initially since that would enable licensee partners to create manufacturing infrastructure to meet their needs but also the needs of NEAH.
Thank you for your continued support, and best regards,
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