Napier was invited to participate in a trade show hosted by the U.S. Military.
Steven-You refer to lawsuits 1)why pleural
2)what lawsuit.
Also you say "NIR had the same problem many years ago" what problems?
SCHEDULE C - MANAGEMENT DISCUSSION AND ANALYSIS
NAPIER INTERNATIONAL TECHNOLOGIES INC.
APRIL 30, 1997
The March 14, 1997 agreement between Napier International Technologies Inc.(Napier) and Diacon Technologies Ltd.(Diacon) for
Diacon to manufacture and distribute its proprietary anti-stain chemicals is still in a transition period. Whereas Diacon immediately
assumed the sales and service functions, Napier is still manufacturing and delivering the anti-stain products.
The arrangement with Diacon has allowed Napier to significantly reduce it's staff and overheads. Although still in the transition period
which has had some rough spots the desired direction is being achieved.
Through the efforts of a director and a new employee, Napier was invited to participate in a trade show hosted by the U.S. Military.
The trade show was dedicated to coatings removal, an area where much of the company's research has been concentrated, and
where some very promising success has been achieved over the past several months. Napier was one of only two companies with
environmentally friendly coatings removal products invited to participate at the trade show, by the U.S. Military. The exposure and
industry contacts made were exceptional.
The strong market potential of several new products has Napier moving forward with in the development of environmentally
acceptable paint release agents and speciality cleaners. Our research and development focus is fully devoted to the release agents
and cleaners projects.
Napier was successful in reaching a settlement with Marquis Cedar Products (Marquis) and Nagaard Sawmills (Nagaard) related to
an anti-stain quality claim. The Company maintains that it had no liability under this action, however, in the interest of cost
containment, an agreement was reached whereby Napier contributed $18,000.00 towards Nagaard's settlement with Marquis and
wrote off an account receivable from Nagaard of $1,989. The Company recorded a provision for legal settlement of $19,989.
during the quarter.
The Company has not been in compliance with the payment terms of the loan payable to Terpene Technologies Inc. (TTI) for more
than one year. On March 6, 1997 the Company was notified of it's default under payment terms as set out in the technology license
agreement. Under terms of the license the Company had 60 days to correct the notified default. Although the Company tried to
market products developed under the technology for over two years it has been unable to identify any marketable products
developed by TTI. The license was allowed to terminate and the Company recorded a loss on the cancellation on the terpene
technology license of $47,385.
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