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