The $1,500,000 lender will receive $7,500,000 (loan back plus 400%), anticipated to be this June or within 90 days. The lender will be given a lien on the technology as collateral for the loan. I will retain an Investment Banker to sell the technology to countries who presently burn their used motor oil to generate stream - which generates very little profit. By comparison a $6 million plant using our technology will generate moe than $6 million per year.
Upon the close of the purchase of our technology (we have targeted Japan, Thailand and Indonesia), the funds will be sent to an escrow account which we will establish at your attorney's. Therefore you will receive your money back, plus 400% (for total of $7,500,000) before we can receive any profits.
An independent third party has certified that we have successfully processed used motor oil into marine diesel.
Goldman Sachs previously raised $130 million for a combined cycle cogeneration project I developed. The majority of the $1.5 million will purchase the International rights to the technology and to retain the Investment Banker. A company in Utah recently agreed to pay $7 million for a similar technology that has not been certified by an Independent party.
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