What happened to that $13.5 million base income?
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Posted On: 07/13/2017 10:20:43 PM
What happened to that $13.5 million base income?
"TPAC RECONSTRUCTIONS EFFORTS AND EFFECTS BTL -- a long time part manufacturer of TPAC signs an agreement to manufacture TPAC Spherical Bearings under a Licensing and Service Level Agreement for ten years at an annual contract value of $13.5M/year. This contract commences in the first quarter of 2017. TPAC will start moving NAVAIR certified facility to the BTL facility in the month of September. Timeline scheduled move to complete EOY 2016. Effects: Signed contract provide base income for $13.5M/year; Reduces TPAC debt losses and secures forward momentum. USA FR will apply proper percentage to MRVB creating adequate cashon-hand to strengthen the TPAC OTC stock offering. Estimated percentage per year -- up to 20% of net profits. The contract also provides a clear way to demonstrate TPAC as a U.S.A business exporter to China creating an easier process to take advantage of the $85M LOI when applicable, if and when the absence of a needed EXIM nomination is absolved. "
"TPAC RECONSTRUCTIONS EFFORTS AND EFFECTS BTL -- a long time part manufacturer of TPAC signs an agreement to manufacture TPAC Spherical Bearings under a Licensing and Service Level Agreement for ten years at an annual contract value of $13.5M/year. This contract commences in the first quarter of 2017. TPAC will start moving NAVAIR certified facility to the BTL facility in the month of September. Timeline scheduled move to complete EOY 2016. Effects: Signed contract provide base income for $13.5M/year; Reduces TPAC debt losses and secures forward momentum. USA FR will apply proper percentage to MRVB creating adequate cashon-hand to strengthen the TPAC OTC stock offering. Estimated percentage per year -- up to 20% of net profits. The contract also provides a clear way to demonstrate TPAC as a U.S.A business exporter to China creating an easier process to take advantage of the $85M LOI when applicable, if and when the absence of a needed EXIM nomination is absolved. "
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