Submitted on July 31st, 2008 by Unregistered user (not verified)
David,
Your report is in direct contradiction with Zenn's Dec 06 Financial statement.
According to Zenn's annual information form on dec 18, 2006, Zenn has made two milestone payments totaling $750,000 and the third milestone is supposed to be awarded after 3rd party testing of permittivity... the third payment listed by Zenn is for $1,250,000 and the 4th is supposed to be for $500,000 once a commercial esu is delivered, for a total of $2.5 million.
See http://www.zenncars.com/media/documents/Annual_Information_Form_Dec_18_2006.pdf
So your reporting above appears to be not accurate. How is this possible:
"Zenn has already made three milestone payments to
EEStor totaling $1.3 million. Another $700,000 is payable after the permittivity testing, with a final $500,000 due
when EEStor ships its ultracapacitors."
???
What was the third milestone you made reference to?
Global premier sponsors include
Lead sponsors/partners include
All sponsors | All partners
you must have facts wrong about zenn payments
Submitted on July 31st, 2008 by Unregistered user (not verified)David,
Your report is in direct contradiction with Zenn's Dec 06 Financial statement.
According to Zenn's annual information form on dec 18, 2006, Zenn has made two milestone payments totaling $750,000 and the third milestone is supposed to be awarded after 3rd party testing of permittivity... the third payment listed by Zenn is for $1,250,000 and the 4th is supposed to be for $500,000 once a commercial esu is delivered, for a total of $2.5 million.
See http://www.zenncars.com/media/documents/Annual_Information_Form_Dec_18_2006.pdf
So your reporting above appears to be not accurate. How is this possible:
"Zenn has already made three milestone payments to
EEStor totaling $1.3 million. Another $700,000 is payable after the permittivity testing, with a final $500,000 due
when EEStor ships its ultracapacitors."
???
What was the third milestone you made reference to?
A response would be appreciated.