Natcore Technology Inc NTCXF

Info from the company

[mtlimpact]

Q:

Ay news ??? Why all the quiet surronding the MicroTech delays you are way over on time and we are not getting any new information, does not look good at all. The company as multiple products in the pipeline but nothing concret and nothing from the Chinese venture. It would be nice for your shareholders to get somekind of information and maybe some good news regarding funding and or grants.

Regards from a concern shareholder.

A:

 I understand your concern and sympathize with you but Natcore is an R&D company and sometimes things take longer than expected. Also, I don’t know if you have ever had anything custom built for you but it’s not unusual for the estimated completion date and the actual delivery date to be different. In the case of MicroTech, the delay is understandable and partially due to us. As work on the machine progressed we both came up with different functions that we believe will enhance the quality and functionality of the equipment. Although MicroTech has been in business for a long time and build many tools like ours for the Semiconductor and Chip industry, this was the first one designed specifically for the Solar Industry. Their suggestions, in conjunction with those of our scientists, were invaluable but it took time to develop them and incorporate them into the tool. We believe that these enhancements will make it that much more marketable. Having said that, it is almost completed and we will be shipping it to our new lab in Rochester as soon as the lab is ready to move into. Our lease begins July 1, but there is a small amount of build out that needs to be done. Things like installing hoods and curtains for the clean room, etc. Nothing major but it still needs to be done. We are very confident that we will have hired some staff, the equipment will be there for testing and the build out will be completed by the end of July or the first week of August. If you are interested, I have attached some photos that the MicroTech people sent me yesterday.

The JV in China is progressing but again it’s taking longer than expected. One of the issues in China is the political aspect. As government officials change or get promoted it slows down the process. The good news is that they have the money and are anxious to spend it on our technology. The downside is that, like everywhere else, when government gets involved it takes longer.

There is a delegation from another company in China coming to visit us in mid-August. They will be spending time with Andy’s people at Rice and our people at the lab in Rochester. They are a very large company in China (they did $15 billion in revenue last year) that Chuck met with during his last trip there. There reason for visiting is that they are interested in funding several, if not all of our technologies.

That brings me to funding and grants. I believe that any chance of getting a grant from the US Federal Government is unlikely. They talk a great game but when it comes to action they are inept, confused and uninterested. We have had a much better response from state government and expect some success there. I have sent an extensive business plan for the development and commercialization of the roll-to-roll technology to our friend, the Congresswoman from NY, and the economic development group in the Rochester area. They are being very helpful and have made suggestions to the plan. I think we will get some funding there but I never count on funds until they are in the bank. In the end, we are confident that we will get the funding we need for all of our technologies. Unfortunately, it may come from a foreign source.

I hope this update helps. We are working very diligently to move our technologies out of the lab and into commercialization. When we have news, we will release it but until then I can only ask for your patience.

Tom