RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Gordon has the patents You've repeated these negative notions an awful lot here. I think we get what your position is with regards to the FP's past. I can help with one question but then I'm just going to move on.
You asked why Ian wasn't successful at licensing the CMBT tech. This is his explanation. Again from the AGM presentation.
"Looking back over the course of 2018, and 2019, we were met with deep challenges in our efforts to establish joint venture relationships to advance and manufacturer our CMBT materials as multi-layered ceramic capacitors. Despite achieving some viable results that were certified through various phases by MRA labs, we couldn't get the attention and commitment from the largest players in the market. Our consultants advised us that it could potentially be hard going as the MLCC market was saturated during that period, and most manufacturers could barely keep up with demand.
[12:17] This made the climate difficult to catch anyone's immediate attention, and a number of major companies in the space responded with, “Very interesting, but we'll get back to you in maybe 12 to 18 months”. As you can imagine, this was not the type of response we were looking for. Despite these challenges and timing setbacks, we did spend over a year in consideration with a potential joint venture partner in China. This particular group is one of the most significant aluminum electrolytic capacitor manufacturers in the world, and they were interested in branching out into ceramic capacitors, so our timing with them in that regard was good. However, right from the get go, we had challenges in determining consistent testing protocols to replicate MRA’s definitive results with testing groups in China. And this became a constant and time-consuming struggle that ate away at our resources. We also found ourselves in the midst of the most stringent us tariffs, which hit right in the middle of our negotiations related to high voltage MLCC production, and understandably, this potential partner chose to emphasize their core business focus over new opportunities, and we ran out of sufficient capital to take things further, as the success of a JV for us was also dependent on significant capital investment by any potential partner to improve on the CMBT and integrate into their existing business.
So as the end of 2019 approached, myself and the team realized that we couldn't financially support these ongoing negotiations, and we put our CMBT activities on hold, until a logical next step evolved, as outlined in the previous slide. As we did this, we made the decision to look seriously at other technology opportunities that fit within our sustainability and energy mission and mandate."