Proven plasma torch processes for US military, 3D powders for aircraft engines and solar grade silicon metal for solar industry

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Message: Connecting the dots.

A. Our intention was to fulfil the contract and deliver the balance of nine (9) systems however between finishing the first system and commencing fabrication of the other nine (9) systems, three (3) things happened. First, we spent approximately CAD 2MM to improve the first system’s production rate and powder size. Second, and given these improvements, we previously announced on October 26, 2015, our strategic decision to move away from producing systems in favour of producing powders. Our internal calculations indicated that what we could expect to make from the powders produced from one (1) system, year in/year out, outweighed that which we expected from the one-time profit made from selling ten (10) systems. Third, a situation arose that enabled us to withdraw the offer to produce the balance of nine (9) systems, which was most opportune since, as much as we would have liked to deliver the nine (9) systems, we were not set up to do both that and enter into powder production. .................This from a NR dated 25 oct 2019

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