ETS,
The website was updated today....
LOI was posted....
pankai.com
Look down the bottom left, then scrolll down to the bottom of financial section...
Mr. Gerald W. Howell
C.E.O.
Pan Kai Development USA Inc.
4001 Decatur Blvd. #37, Suite 567
Las Vegas, Nevada 89103
Re: Revolving Line of Credit
Dear Mr. Howell:
We are pleased to advise you that our bank is willing to consider providing your Corporation a revolving credit line of
USD$20,000,000.00 against a Standby Letter of Credit isued by XY Bank on behalf of Chuan-I Company Limited subject
to satisfactory review on credit standing of the issuing bank and contents of the stand-by letter of credit.
The purpose of the revolving credit line is for the manufacturing of every batch of Air Combustion/Enhancer Kits for monthly
shipment.
We appreciate very much if you could submit to our bank a projected cash flow and also the 300,000 units manufacturing
schedules for the entire supply to Taiwan. The final loan approval is subject to the approval of loan committee. And the
details contents of the letter of credit will be discussed.
If you have any questions, please feel free to contact the undersigned.
Sincerely,
Terry Lou
First Vice President
7/6/99 |
