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India's GDP Per Capita is pathetically at US$2,000 per year as compared to US$60,000 per year in USA
https://www.macrotrends.net/countries/IND/ind...per-capita
GDP Per Capita by country
https://en.wikipedia.org/wiki/List_of_countri...per_capita
As one can see from the above statistics, India is among the world's 25% poorest countries, it is easy to imagine the reason for funding delay from the Central government for the Tech City project besides government bureaucracy. The Indian government has launched 100 smart city projects across the country at a cost of ₹98,000 crore (US$14 billion) (1 crore = US$0.142 million). The Tech City project in Guwahati, State of Assam, is one of them. Such unprecedented huge projects for a poor country across the continent of India certainly will encounter numerous obstacles, since the government cannot afford to fund all the smart city projects simultaneously, the Assam government has to wait for its turn. In the joint venture agreement between the State owned AMTRON and licensee Amtronics, Amtronics has funded the construction of the quantum dot production plant, AMTRON is responsible to make payment to QMC through the "Letter of Credit" system. Funding delay from the Central government caused payment delay to QMC and caused delay in the construction of the quantum dots nano complex. The QMC-Amtronics licensing deal is more like a partnership rather than a formal legal contract like deal, the minutes in the licensing agreement can change pending on mutual consent, licensee Amtronics may lessen its demand on the solar energy conversion efficiency to compromise the payment delay or may rescind its 10% reduction in royalties payment.
India's 100 Smart City projects
https://en.wikipedia.org/wiki/Smart_Cities_Mission
After delaying for one year, finally in November the Assam government has received an equivalent of US$27 million from the Central government for the Tech City project ( https://government.economictimes.indiatimes.c...a/72384488 )
Right after the funding from the Central government in December, QMC received the delayed "significant payments" from Amtron in January, perhaps in $millions. Any revenue occurred in the First Quarter of 2020 has to be reported in the 10Q due on May 15 but all the delinquent reports must first be filed first.
John T. Hartigan, the company's Chief Revenue Officier (January 9): "Significant Solar revenue has begun, additional deals far along in pipeline. Many material milestones being hit - emerging tech the future is bright!"
https://twitter.com/hartigan_john/status/1215289189937373185
Stephen Squires (January 27, 2020 Shareholder Update): "Our licensee has already made significant payments and additional payments are due to us once the reactors are setup and tested. This will allow us to recognize revenue once these benchmarks are met. We will also be delivering pre and post processing equipment this year".
https://www.macrotrends.net/countries/IND/ind...per-capita
GDP Per Capita by country
https://en.wikipedia.org/wiki/List_of_countri...per_capita
As one can see from the above statistics, India is among the world's 25% poorest countries, it is easy to imagine the reason for funding delay from the Central government for the Tech City project besides government bureaucracy. The Indian government has launched 100 smart city projects across the country at a cost of ₹98,000 crore (US$14 billion) (1 crore = US$0.142 million). The Tech City project in Guwahati, State of Assam, is one of them. Such unprecedented huge projects for a poor country across the continent of India certainly will encounter numerous obstacles, since the government cannot afford to fund all the smart city projects simultaneously, the Assam government has to wait for its turn. In the joint venture agreement between the State owned AMTRON and licensee Amtronics, Amtronics has funded the construction of the quantum dot production plant, AMTRON is responsible to make payment to QMC through the "Letter of Credit" system. Funding delay from the Central government caused payment delay to QMC and caused delay in the construction of the quantum dots nano complex. The QMC-Amtronics licensing deal is more like a partnership rather than a formal legal contract like deal, the minutes in the licensing agreement can change pending on mutual consent, licensee Amtronics may lessen its demand on the solar energy conversion efficiency to compromise the payment delay or may rescind its 10% reduction in royalties payment.
India's 100 Smart City projects
https://en.wikipedia.org/wiki/Smart_Cities_Mission
After delaying for one year, finally in November the Assam government has received an equivalent of US$27 million from the Central government for the Tech City project ( https://government.economictimes.indiatimes.c...a/72384488 )
Right after the funding from the Central government in December, QMC received the delayed "significant payments" from Amtron in January, perhaps in $millions. Any revenue occurred in the First Quarter of 2020 has to be reported in the 10Q due on May 15 but all the delinquent reports must first be filed first.
John T. Hartigan, the company's Chief Revenue Officier (January 9): "Significant Solar revenue has begun, additional deals far along in pipeline. Many material milestones being hit - emerging tech the future is bright!"
https://twitter.com/hartigan_john/status/1215289189937373185
Stephen Squires (January 27, 2020 Shareholder Update): "Our licensee has already made significant payments and additional payments are due to us once the reactors are setup and tested. This will allow us to recognize revenue once these benchmarks are met. We will also be delivering pre and post processing equipment this year".
