Ann: US$52M Term Sheet Signed for New York Battery Plant, page-21

No income for 14 month from sale of batteries, but US$ 1.605 million interest payment due!
Are the premises secured yet as in long term lease agreement or purchase of the so far only "earmarked" building?
Further interest payments are due every 12 month, as in US$2.782 million after the second and third year.
What are the margin on these batteries against strong competition? Not forgetting additional ongoing overheads like staff and material, lease payments and running costs!

Seems the batteries they supplying so far are still being tested to confirm the off-take agreements. so when are they going to be confirmed?