Shenzhen JBT Electronics Technology Co., LTD: Non-Binding Letter of Intent
SHENZHEN CITY, China, Jan. 31, 2013 /PRNewswire/ -- This letter of intent is for the purpose of completing the testing of the Kryronized aluminum and negotiating the licensing of Kryronized aluminum for the specific use of manufacturing heat sinks for the lighting industry.
Shenzhen JBT Electronics Technology Co., LTD (JBT) is a high technology LED company in Guangdong China. We are currently selling our products all around the globe and have hundreds of different designs and models ranging from LED bulbs to LED street lights, to LED explosion-proof lighting.
The terms and conditions of this LOI are as follows:
Bourque Industries will give JBT a period of 30 days starting from February 1, 2013 to test and accept the Kryron LED heat sink that will be specific to the LED market only as a product for JBT to sell. JBT will disclose to Bourque Industries the results of all testing and also provide photographs of all the prototypes built using the blocks of Kryronized aluminum purchased from Bourque Industries during that period. The test results will be the ownership of JBT and Bourque Industries and will be delivered to all parties at the conclusion of the test.
Currently, JBT has samples of Kryronized aluminum and is conducting additional heat dissipation testing and ROHS testing on the metal so that we can move forward with the prototype stage of our testing. For the prototype stage, JBT will order blocks and tubes of Kryronized aluminum. We will CNC these blocks and tubes into heat sinks and test them for heat dissipation.
Bourque Industries will be the sole proprietor for the manufacturing and distribution of Kryron Powders that is necessary to make Kryron Aluminum for the heat sink market. These Powders cannot be resold, given away or used for any other purpose, as mentioned above.
Once we have confirmed that Kryron will indeed disrupt the market for LED heat sinks, JBT will begin negotiations for the exclusive license of Kryronized Aluminum for heat sinks designated for LED lighting with Bourque Industries. These negotiations include, but are not limited to the following requirements that Bourque industries accepts upon accepting this LOI:
- JBT will be allowed to purchase Kryron Aluminum Ingots at $21 per pound during the testing period (or less if any other company is allowed to purchase it from Bourque Industries at a price lower than $21 per pound). Kryron Powder can be substituted at a cost of $25 per pound.
- John M. Bourque, the only qualified person, will be required travel to China and teach the Kryron process that will be used for the LED lighting heat sink manufacturing.
- John M. Bourque will provide us with up to 6 months of consulting time and expenses (for a fee), to help us optimize the alloy smelting process for LED heat sinks.
- John M. Bourque will be available to JBT for ongoing consulting at any time after that six month period (for a fee)
JBT will provide all facilities and materials necessary to do the prototype testing, the optimization and the manufacturing of market ready products. (Time period to be in the agreement)
JBT will provide a one-time licensing fee and a royalty structure for compensation to Bourque Industries in exchange for this proprietary Ingot/powder and the smelting technology to make the LED heat sinks.
At any time during this ROI period, if John M. Bourque is not available to us for travel to China given a 14 day window for consulting on optimization of the alloys, 50% of the monies paid to Bourque Industries must be returned to JBT as it is our firm belief that John M. Bourque will take the current Kryron technology to a new level during the six months period of optimization.
This document is digitally signed by the sender of this email: Robert Allen Fisher, representing Shenzhen JBT Electronics Company, LTD sales and engineering opportunities in the United States.
This document will be replaced and will become null and void, upon successful execution of a license agreement between JBT and Bourque Industries.
This communication to shareholders and the public contains certain forward-looking statements. Sometimes these statements will contain words such as "believes," "expects," "intends," "should," "will," "plans," and other similar words. The events described in these forward looking statements are not certain to occur. These statements are only predictions and involve known and unknown risks, uncertainties and many factors beyond our control. Although forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment, actual results could differ materially from those anticipated in such statements.
SOURCE Shenzhen JBT Electronics Technology Co., LTD