So we don't actually have a government contract.We have a...

So we don't actually have a government contract.
We have a contract with Saddington Limited, who took over the contract from TPID (at 5% of future revenues from the AQSIQ contract) because they didnt have the capital to start up the contract.


SO in order to fund the set-up costs, Saddington needed to come up with 50m, of which 5m was contributed by ETC as a loan of some sort and will be paid back.

Saddington now seem to be in a position to engage AQSIQ to provide similar security/verification solutions of which ETC stands a good chance of participation given the existing relationship.

My question: WTF are Saddington Limited? I have not been able to find any information on them at all.

What is the nature of their business?

DO they have the money to takeover ETC at a decent price?

Are they well funded?

We are essentially a creditor to them for 10's of millions of dollars of work. They seem to be paying up though, which is good and China seems to be happy to consider further contracts, so they should also be paying invoices promptly.