JOINT VENTURE AGREEMENT

9 Months Ended

Sep. 30, 2011

JOINT VENTURE AGREEMENT [Text Block]

NOTE 6 – JOINT VENTURE AGREEMENT

On April 6, 2011, the Company entered into an agreement with Allied Holdings Group, Inc. (“Allied”) to pursue certification of the Company\'s H ₂ Omaxx clean water technology for international maritime vessel operations. The Company will provide the H ₂ Omaxx technology and technical support and Allied will focus on international and US certification for H ₂ Omaxx as well as market development and funding. The joint venture, known as Wescorp Marine, Inc. (“WMI”), is a Delaware corporation owned 65% by the Company and 35% by Allied. WMI will have the exclusive rights to develop the H ₂ Omaxx technology.