RE:RE:RE:RE:RE:News out Todaydimar66 wrote: I wonder who the third party is and what are the terms of reference regarding what they are evaluating for?
EBH2 agrees that both the Cash Component of the transaction and the Equity Component of the transaction will be paid after an independent third-party has validated that the EBH2 process works and can be scaled up to meet the energy requirement of HPQ Technologies, based on the following milestones:
a. An independent third-party, chosen by the Parties, will be mandated to confirm that the EBH2 travel demonstration module can generate 1,000 Watts per hour (1 Kw per hour), 24 Kw per day, 168 Kw or 0.17 Mw of energy over 7 days from 1 litre of water (H2O). Upon receipt of confirmation that the production and other milestones has been met, the Cash Component of the transaction will be paid to EBH2 and 5,000,000 units of the Equity Component of the transaction will also be issued to EBH2.
b. An independent third-party, chosen by the Parties will be mandated to confirm that the EBH2 system can be scaled up to meet the energy requirement of HPQ Technology. Upon receipt of a confirmation that the production and other agreed milestones have been met, 4,000,000 units of the Equity Component of the transaction will also be issued to EBH2.
c. Upon a successful demonstration that a EBH2 system can produce the energy required to power up HPQ PUREVAPTM QRR pilot plant, the remaining 1,000,000 units of the Equity Component of the transaction will be issued to EBH2.