STAK subsidiary signs non-binding LOI for gas-powered generator procurement
STAK•STAK Industry Energy signed a non-binding letter of intent covering potential gas-powered generator procurement. Initial purchases could total hundreds of thousands of dollars, with later purchases potentially worth millions, but the letter creates no purchase commitment or confirmed orders.
1. Potential generator purchases
STAK Industry Energy signed a non-binding letter of intent covering potential procurement of gas-powered generators. Initial procurement could total hundreds of thousands of U.S. dollars, and subsequent purchases could be worth millions, subject to successful delivery and final acceptance of the initial batch; each would require a separate purchase contract.
2. No confirmed orders
The letter creates no purchase commitment, confirmed orders or basis for revenue recognition. STAK Industry Energy is wholly owned by STAK Vision Energy, a joint venture 60% owned by wholly owned subsidiary STAK Vision.
