UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported) April 12, 2021 (April 11, 2021)

 

MECHANICAL TECHNOLOGY, INCORPORATED

(Exact name of registrant as specified in its charter)

 

Nevada   000-06890   14-1462255
(State or other jurisdiction
of Incorporation)
  (Commission
File Number)
  (IRS Employer
Identification Number)

 

325 Washington Avenue Extension

Albany, New  York

  12205
(Address of registrant's principal executive office)   (Zip code)

 

(518) 218-2550

(Registrant's telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of each exchange on which
registered
Common Stock, par value $0.001 per share   MKTY   The Nasdaq Capital Market

 


 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company     ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

     

 

  


 

Item 1.01 Entry into a Material Definitive Agreement.

The Company’s indirect subsidiary, EcoChain Block, LLC (“EcoChain Block”), executed and entered into a purchase agreement, dated April 11, 2021 (the “Purchase Agreement”), providing for the purchase of equipment which is expected to deliver throughput of 11.2 Pethash in SHA-256 Bitcoin miners and 235 Gigahash in Scrypt Litecoin miners. The total purchase price payable for these miners is $702,700, $507,850 which is being paid, in cash, and the remaining portion which will be paid by the issuance of restricted shares of the Company’s common stock having an aggregate value of $194,850. The seller of the equipment has agreed to host the equipment temporarily until such time as the equipment is placed into our own facility. Power used by us in connection with our operation of the equipment will be charged to us by the seller, at cost, and is expected to average 2.3 cents kwh for 83% up time with a nominal overhead charge to reimburse for certain operating costs. The consummation of the transactions described in the Purchase Agreement is expected to occur on April 12, 2021.

The foregoing description of the Purchase Agreement is qualified in its entirety by reference to the full text of such Purchase Agreement, the form of which is attached as Exhibit 10.1 to this Current Report on Form 8-K (this “Form 8-K”), and which is incorporated herein in its entirety by reference. Certain identified information has been redacted from Exhibit 10.1 because it is both not material and is the type that the Company treats as private or confidential.

Item 8.01 Other Events.

On April 12, 2021, the Company issued a press release announcing EcoChain Block’s execution and entering into the Purchase Agreement. A copy of the press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated in this Item 8.01 by reference.

 

This Form 8-K and Exhibit 99.1 contain forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guaranties of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks that may be included in documents that the Company files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 8-K, except as required by law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
10.1 Form of Purchase Agreement, dated April 11, 2021.#
99.1 Press Release of Mechanical Technology, Incorporated dated April 12, 2021.

 

 

# Portions of this Exhibit have been omitted.

 


 

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  MECHANICAL TECHNOLOGY, INCORPORATED
     
     
Date: April 12, 2021 By: /s/ Jessica L. Thomas
  Name: Jessica L. Thomas
  Title: Chief Financial Officer

 

 

 

 

     

 

 

Exhibit 10.1

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT

BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT MECHANICAL

TECHNOLOGY, INCORPORATED TREATS AS PRIVATE OR CONFIDENTIAL.

 

PURCHASE AGREEMENT

 

This Purchase Agreement (“Agreement”) is dated as of April 11, 2021, and is made by and between [                 ], a limited liability company organized under the laws of Delaware (“SELLER”) and ECOCHAIN BLOCK LLC, a limited liability company organized under the laws of Nevada (“BUYER”). BUYER and SELLER are sometimes hereinafter referred to as each, a “Party”, and together, the “Parties”. This Agreement is acknowledged and agreed by BUYER’s indirect parent company, MECHANICAL TECHNOLOGY, INCORPORATED (“Parent”).

 

WHEREAS, BUYER is in the business of cryptocurrency mining;

 

WHEREAS, SELLER is the owner of [    ] miners and [     ] miners;

 

WHEREAS, SELLER has agreed to sell to BUYER, and BUYER has agreed to buy from SELLER, certain miners pursuant to the terms of this Agreement;

 

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the adequacy, receipt and sufficiency of which are hereby acknowledged, the Parties mutually agree as follows:

 

1. MINERS

 

1.1.       On April 12, 2021 (the “Effective Date”), SELLER shall sell to BUYER, and BUYER shall buy from SELLER, [                                 (      )] [    ] miners and [                 (   )] [   ] miners (the “Physical Miners”) and certain parts, equipment, attachments, improvements and accessions related thereto (the “Parts”, and together with the Physical Miners, the “Purchased Assets”)).

 

1.2.      SELLER represents to BUYER that Seller is the owner of the Purchased Assets, that the Purchased Assets are free and clear of all liens, charges and encumbrances, and that SELLER has full right, power and authority to sell the Purchased Assets, execute this Agreement and perform its obligations hereunder.

 

1.3.      BUYER represents to SELLER that Buyer has full right, power and authority to buy the Purchased Assets, execute this Agreement and perform its obligations hereunder.

 

2. HASH RATE; QUANTITY OF MINERS

 

2.1.      The Parties acknowledge and agree that the total hash rate of the Physical Miners (“Total Rate”) is estimated to be as follows:

 

(a) In the case of [   ] Miners, 11.19 PH/s; and

(b) In the case of [   ] Miners, 235 GH/s.

 

2.2.      The Parties acknowledge and agree that the individual hash rate of the Physical Miners (“Miner Rate”) shall be as follows:

 

(a) In the case of [   ] Miners, 13.5 TH/s; and

 

 

 

 

(b) In the case of [   ] Miners, 500 MH/s.

 

2.3.       The Parties acknowledge and agree that the total purchase price for the Purchased Assets (the “Total Purchase Price”) shall be determined by a Unit Price (as defined in Section 3.1) for each Virtual Miner (as hereinafter defined). As used in this Agreement, “Virtual Miner” is a term of art that represents a quantity of miners (but not actual or physical miners) determined by dividing the actual Total Rate on any date of determination by the Miner Rate. The Parties agree that the quantity of Virtual Miners using a date of determination of April 9, 2021 was (a) [                               (    )] [   ] miners, and (b) [               (   ) [   ] miners. The Parties acknowledge and agree that the quantity of Virtual Miners may be adjusted on the Effective Date based on the actual Total Rate on the Effective Date. The Parties acknowledge and agree that the quantity of Virtual Miners may be different from the quantity of Physical Miners and both quantities will be specified on the invoice issued by SELLER.

 

3. PRICE AND PAYMENT TERMS

 

3.1.       The price of each Virtual Miner (the “Unit Price”) shall be as follows:

 

(a) [   ] miners: the Unit Price of each such Virtual Miner shall be $[        ] ([              ] dollars). The Unit Price shall be paid in a combination of cash and shares of common stock of Parent, MKTY (“Parent Shares”) as follows: (i) $[         ] ([          ] dollars) in immediately available funds payable within one (1) business day after the delivery of the hash rate represented by such Virtual Miner; and (ii) an amount of Parent Shares equal to $[        ] ([         ] dollars). The number of Parent Shares to be delivered to SELLER shall be determined by the closing price of the Parent Shares on the Effective Date on the principal securities exchange or trading market where the Parent Shares are listed or traded as reported by Bloomberg, LP. Immediately after the determination of the closing price, BUYER shall deliver a notice to SELLER informing the amount of Parent Shares to be delivered hereunder. Delivery of the Parent Shares shall be subject to Section 3.2 below.

 

(b) [        ] miners: the Unit Price of each such Virtual Miner shall be $[        ] ([             ] dollars). The Unit Price shall be paid in a combination of cash and Parent Shares as follows: (i) $[        ] ([               ] dollars) in immediately available funds payable within one (1) business day after the delivery of the hash rate represented by such Virtual Miner; and (ii) an amount of Parent Shares equal to $[       ] ([             ] dollars). The number of Parent Shares to be delivered to SELLER shall be determined by the closing price of the Parent Shares on the Effective Date on the principal securities exchange or trading market where the Parent Shares are listed or traded as reported by Bloomberg, LP. Immediately after the determination of the closing price, BUYER shall deliver a notice to SELLER informing the amount of Parent Shares to be delivered hereunder. Delivery of the Parent Shares shall be subject to Section 3.2 below.

 

3.2.       As soon as commercially practicable after the Effective Date (but in any event no later than ten (10) days after the Effective Date), BUYER shall cause to be delivered to SELLER’s or Parent’s then existing securities broker or transfer agent or another nationally recognized independent third party acceptable to SELLER (such securities broker, transfer agent or other third party, “Share Agent”) a number of Parent Shares as determined pursuant to clauses (a) and (b) of Section 3.1 above. The Parties acknowledge and agree that the Share Agent shall hold the Parent Shares for the benefit of SELLER and the Share Agent shall follow all trading instructions with respect to such Parent Shares originated by SELLER only, subject to Section 3.3 below. BUYER shall copy SELLER on its communication to the Share Agent describing the amount of Parent Shares being delivered and the foregoing instructions.

 

 

[                              ] – EcoChain Block LLC / Purchase Agreement
Page 2 

 

 

 

3.3.       SELLER acknowledges and agrees that during the period beginning on the date on which the Parent Shares are delivered to the Share Agent and ending on the six (6) month anniversary of the delivery thereof, SELLER shall not, directly or indirectly, (i) offer, sell, assign, transfer, pledge, contract to sell, or otherwise dispose of, any Parent Shares, (ii) enter into any swap, hedge or other agreement or arrangement that transfers in whole or in part, the economic risk of ownership of any Parent Shares (regardless of whether any such arrangement is to be settled by the delivery of securities of Parent, securities of another person, cash or otherwise), (iii) engage in any short selling of any Parent Shares, (iv) agree to do any of the foregoing or (v) publicly announce the any intention to do any of the foregoing.

 

4. DELIVERY; LOCATION OF MINERS

 

4.1.       Delivery of the hash rate represented by the Virtual Miners (which, for the avoidance of doubt, includes the hash rate of the Physical Miners) shall be made through transfer of the current pool settings to BUYER’s settings on the Effective Date. Upon completion of such transfer, SELLER shall notify BUYER of the total hash rate delivered and the quantity of Virtual Miners representing it.

 

4.2.       BUYER acknowledges and agrees that the Physical Miners are located at the SELLER’s property and shall continue to be hosted by SELLER at such location until BUYER instructs SELLER otherwise.

 

5. HOSTING SERVICES

 

5.1.       During the period of time that SELLER hosts the Physical Miners, BUYER shall be responsible for hosting fees in the amount of $9.65 (nine dollars sixty-five cents) per Physical Miner per month plus actual power charges of Physical Miners, which charges are passed through by SELLER to BUYER. Within one (1) business day after the delivery of the hast rate of the Virtual Miners, BUYER agrees to pay to SELLER an initial deposit of $50,000 (fifty thousand dollars). On the 20th day of each month, SELLER shall invoice BUYER an amount equal to the estimate of the total power charges used by the Physcial Miners plus the hosting fees of $9.65 (nine dollars sixty-five cents) per Physical Miner for the subsequent month (and taking into account any deposits previously made and not applied against actual charges) and BUYER shall make a deposit in the amount of such preliminary invoice at least five (5) days prior to the end of each month (each, a “Deposit”). If BUYER does not make the Deposit if and as required pursuant to the preceding sentence, SELLER shall have the right to temporarily disconnect power to BUYER until such Deposit is made. Each month, SELLER shall provide an invoice showing a credit of such Deposit against the actual charges for such month. If the Deposit is greater than the actual charges, such Deposit shall be retained by SELLER and applied against power consumed in subsequent months. If the Deposit is less than the actual charges, BUYER shall reimburse such difference on or prior to the last business day of the applicable month.

 

5.2.       Upon the relocation of the Physical Miners to any premises leased by the BUYER (such date, the “Relocation Date”), this Section 5 shall no longer apply.

 

6. DISCLAIMER; WARRANTIES

 

THE PHYSICAL MINERS ARE SOLD “AS IS” AND SELLER, NOT BEING THE MANUFACTURER OF THE MINERS OR THE MANUFACTURER’S AGENT, MAKES NO WARRANTY OR REPRESENTATION WHATSOEVER, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, DESIGN OR CONDITION OF THE PHYSICAL MINERS, OR INTELLECTUAL PROPERTY RIGHTS (INCLUDING WITHOUT LIMITATION, ANY PATENT, COPYRIGHT AND TRADEMARK RIGHTS, OF ANY THIRD PARTY WITH RESPECT TO THE MINERS, WHETHER RELATING TO INFRINGEMENT OR OTHERWISE) WITH RESPECT TO THE MINERS. SELLER SHALL NOT BE RESPONSIBLE FOR ANY DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING FROM POSSESSION OR USE OF THE PHYSICAL MINERS. 

 

 

[                              ] – EcoChain Block LLC / Purchase Agreement
Page 3

 

 

 

7. TERM; TERMINATION

 

7.1.        This Agreement shall be valid and in force until the later of the Total Purchase Price is paid in full pursuant to the terms of Section 3 hereof and the Relocation Date.

 

7.2.         The occurrence of any of the following events shall constitute an “Event of Default”:

 

(a) a payment default by BUYER, which has not been cured within ten (10) days of the due date;

 

(b) the non-delivery of the Purchased Assets (which, for the avoidance of doubt, includes the hash rate represented by the Virtual Miners) by SELLER, which has not been cured within ten (10) days of the delivery date;

 

(c) without notice to the other Party, (i) upon the institution by or against any Party of insolvency, receivership or bankruptcy proceedings or any other proceedings for the settlement of such Party’s debts, (ii) upon such Party becoming insolvent, (iii) upon such Party making an assignment for the benefit of creditors, or (iv) upon such Party’s dissolution or ceasing to do business.

 

7.3.       Upon the occurrence of an Event of Default by BUYER, SELLER shall have the right to (a) cancel this Agreement by notice to BUYER and (b) only with respect to the occurrence of an Event of Default pursuant to Section 7.2(a) for failure to pay the Total Purchase Price as determined pursuant to Section 3, take possession of the Purchased Assets. Buyer shall be liable for all costs and expenses (including reasonable attorney’s fees) incurred by SELLER in exercising its right to take possession of the Purchased Assets pursuant to clause (b) of the preceding sentence. Upon the occurrence of an Event of Default by SELLER, BUYER shall have the right to cancel this Agreement by notice to SELLER.

 

7.4.       The Parties acknowledge and agree that the rights of each Party described in preceding Section 7.3 are in addition to any rights and remedies available to such Party, whether at law, in equity or in contract.

 

8. NOTICES

 

Any notices to be provided to the Parties under this Agreement shall be delivered to the following addresses (whether by mail or electronic email):

 

To SELLER:

 

[                           ]

 

 

 

 

[                              ] – EcoChain Block LLC / Purchase Agreement
Page 4

 

 

 

To BUYER and PARENT:

 

EcoChain Block LLC 

c/o Mechanical Technology, Incorporated 

325 Washington Avenue Extension 

Albany, NY 12205 

Attn: Chief Executive Officer and Chief Financial Officer 

Email: MToporek@mtiinstruments.com and JThomas@mtiinstruments.com

 

9. ARBITRATION; APPLICABLE LAW

 

9.1.         This Agreement shall be governed by any construed in accordance with the laws of New York without regard to conflicts of law rules.

 

9.2.         The Parties agree that any controversy or claim arising out of, or relating to, or in connection with this Agreement, or the breach, termination or validity thereof, shall be settled by binding arbitration. The arbitration shall be conducted in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“Arbitration Rules”).

 

9.3.         The seat of the arbitration shall be New York, NY and it shall be conducted in English. The Parties submit to the jurisdiction of any court of competent jurisdiction for the limited purpose of enforcing this agreement to arbitrate.

 

9.4.         The arbitration shall be conducted by 1 arbitrator who will be selected by mutual agreement of the Parties within fifteen (15) days after the receipt of written demand to arbitrate. If the Parties are unable to reach an agreement on the sole arbitrator, such arbitrator shall be appointed in accordance with the Arbitration Rules.

 

9.5.         The arbitration award shall be final and binding on the Parties and non-appealable. Judgment upon the award may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant Party or its assets. Expenses of arbitration shall be divided equally between the Parties. The arbitration award shall, however, require the non-prevailing Party to reimburse the prevailing Party attorney’s fees and expenses of arbitration.

 

9.6.         The terms of this Section 9 shall survive the expiration or termination of the Agreement.

 

10. GUARANTY OF PARENT

 

By acknowledging and agreeing to this Agreement, Parent agrees to absolutely, unconditionally and irrevocably guarantee to SELLER the delivery of the number of Parent Shares as required under this Agreement as partial payment of the Total Purchase Price.

 

11. SEVERABILITY

 

Should any provision of this Agreement be held to be invalid, inoperative, or unenforceable, the remainder of this Agreement shall not be affected, and the Parties shall replace such invalid, inoperative, or unenforceable provision with a valid, operative, and enforceable provision which corresponds to the greatest extent possible to the purpose and economic effect of such invalid, inoperative, or unenforceable provision. 

 

 

[                              ] – EcoChain Block LLC / Purchase Agreement
Page 5

 

 

 

12. AMENDMENTS

 

Modification, amendment, or deletion of any provision of this Agreement shall be valid and enforceable only if it is made in a writing duly executed by the Parties that specifically references this Agreement.

 

13. NO WAIVER

 

Failure by either party at any time to require performance by the other party or to claim a breach of any provision of this Agreement will not be construed as a waiver of any subsequent breach, nor affect the binding nature of this Agreement nor any part thereof, nor prejudice either party as regards to any subsequent action.

 

14. ASSIGNMENTS; ASSIGNS AND SUCCESSORS

 

Neither this Agreement nor any of the rights, interests or obligations of any Party hereunder may be assigned, delegated or otherwise transferred by either Party, in whole or in part (whether by operation of law or otherwise), without the prior written consent of the other Party, and any attempted assignment, delegation or other transfer without such consent will be null and void. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.

 

15. ENTIRE AGREEMENT

 

This Agreement constitutes the entire agreement with respect to the subject matter hereof. It may not be altered by any invoice and may not be amended except in a writing signed by the Parties. This Agreement replaces and supersedes any and all prior agreements, understandings and negotiations entered into by the Parties with regard to the subject matter hereof.

 

16. COUNTERPARTS

 

This Agreement may be executed in two or more counterparts, each of which together shall be deemed an original, but all of which together shall constitute one and the same instrument. In the event that any signature is delivered by e-mail delivery of a ".pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such ".pdf" signature page were an original thereof. The Parties acknowledge and agree that this Agreement may be executed by electronic signature, which shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature.

 

 

 

[SIGNATURES FOLLOW]

 

 

 

[                              ] – EcoChain Block LLC / Purchase Agreement
Page 6

 

 

 

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the date first above written.

 

ECOCHAIN BLOCK LLC, as Buyer
By: EcoChain, Inc., its mananing member
   
By:
Name: Michael Toporek
Title: President
       
[                                               ], as Seller
       
By:
Name: [                        ]
Title: President and CEO

  

ACKNOWLEDGED AND AGREED TO:

 

MECHANICAL TECHNOLOGY, INCORPORATED

 

By:  
Name: Michael Toporek  
Title: CEO  

 

 7

Exhibit 99.1

 

 

 

EcoChain, Inc. Adds Immediate Capacity, 

Reiterates 50MW 2021 Target

 

ALBANY, N.Y., April 12, 2021 /PRNewswire/ – EcoChain, Inc. (“EcoChain”), a wholly-owned subsidiary of Mechanical Technology, Incorporated (“MTI” or the “Company”), (NASDAQ: MKTY), a cryptocurrency mining business powered by renewable energy, today announced the acquisition of approximately 11.2 Petahash in SHA-256 Bitcoin miners and 235 Gigahash in Scrypt Litecoin miners for use by the Company and EcoChain in connection with the planned growth of MTI’s cryptocurrency mining business.

 

As of the close of business today, this capacity will be on-line and operational.

Consideration paid was $545 thousand in cash and approximately $210 thousand in common shares, for a total purchase price of $755 thousand.

The negotiated power cost is $.023 per kWh for 83% uptime.

 

“We believe that this transaction is highly advantageous and will help to drive our return on invested capital. This purchase provides EcoChain with the equipment required to support MTI’s planned expansion of its cryptocurrency mining business. Based on our development pipeline, we remain confident that by the end of 2021 we will have approximately 50MW of high ROI, green, ultra-low cost capacity,” said Michael Toporek, CEO of MTI.

 

About EcoChain, Inc.

 

EcoChain, Inc., a wholly-owned subsidiary of Mechanical Technology, Incorporated, is engaged in developing and operating ultra-low cost green data centers focused on cryptocurrency mining. For more information about EcoChain, please visit www.ecochainmining.com.

 

Forward Looking Statement

 

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

 

 

Contact Information:

 

Jess Olszowy 

jolszowy@mtiinstruments.com

 

Investor Relations: 

Kirin Smith, President 

PCG Advisory, Inc. 

646.823.8656 

Ksmith@pcgadvisory.com

 

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