RE:RE:RE:RE:RE:RE:HPQ: Analysis Confirms Purity as High as 99.97% . . .Not acheiving 6N is a fight for perception, 4N at this cost structure is a game changer.
That is debatable but is not relevant to this deal that is at hand with HPQ. From the HPQ end this venture was funded based on the pyro system achieving 6N. I am including one of many references made to this fact. Whether a lesser machine has marketability is something I would be willing to discuss later as soon as I get myself back up to speed on the supply, demand and pricing of the lower grades of silicon. I do know a few years back that producers of 4N and lower were going bust for that reason. This may or may not have changed. Solar panels are driven by efficiency and the #1 factor in that is the silicon purity so I am having a hard time seeing any great upswing in demand for the 4N and lower grades.
Dur ing the last quarter of 2015
, the Corporation signed a financing Letter of Intent (``LOI``)
with a Taiwan compaqny for a total commitment of $
5,000 ,000. Upon signature of this
agreement the investor deposited i
n trust a sum of $250,000 which was invested as part of a
private placement at the start of the
first quarter of 2016
. The balance of this financing is
conditional on the results from metallurgical testing and should develop as follows
:
At a time agreed to
by the parties after the public disclosure confirming the success
of the metallurgical test and the validation that the
PUREVAPTM QVR
can
produce during the f
irst test 99.99% pure silicium, t
he investor or another entity of
its choice must subscribe to a
private placement in the Corporation by acquiring a
$1,750,000 convertible debenture. The terms of which are:
o
The amount will be guaranteed by the Corporation
`s quartz properties
o
The debenture will be convertible
into common shares of UBR at any time
foll owing their issue date and prior to the maturity date
at a conversion
price equal to 135% of the closing price of UBR shares
on the day
preceding the closing date of the financing.
o
The maturity will by 3 years and the interest is set at 10% per year payable
emi -annually.
If the Corporation has not reached a 99.99
99% Silicium purity
(known as
6N purity)
as at the date of the debenture financing, it must use these funds to reach this
objective.