Mr. Pascali,

The delay was due to speculating on another board, trying to figure out what is going on is often more fun than asking.

Thank you for your reply and great to hear the news. I must say though that while your reply is excellent news it has not resolved my curiousity. The contract for the plasma torch systems seems to be a great validation of Pyro's technology. The terms of the contract seem very favourable to Pyro, which is great, but from the outside it appears unusual. The entity buys the system at a profit to Pyro, conducts test, and any new process developed out of the tests belong to Pyro with no royalty back to the entity.

Is there any way you can provide more detail, or clarify how this contract would benefit the entity. I realize they are gainging access to a technology that otherwise would be inaccessible, however is that in itself attactive enough or is there more to the story?

I know you may not be able to provide any further details, particularily how this may benefit the entity, and this may be one of the iceberg type news releases. In no way do I doubt what you're doing or the significance of the contact but from reading the NR it is unusual.

Thank you for taking the time, as always it is greatly appreciated. I'm hoping you'll be able to word smith a reply that will clarify what appears to be amazing yet unusual contract.

HK