2021 - General Discussion, page-4536

Legal documents can be signed before an entity comes into existence by stipulating that they become enforceable upon the entity (or one that is identifiable as the intended entity) being incorporated. This is done by making those individuals signing on behalf of the non-existant entity liable for non-performance. As the individuals are acting as agents for their respective companies in forming the contract and new entity, the companies they are agents for have that liability. Thus, contracts can easily be signed prior to incorporation and is not a complicated affair or require anything special.

On another note, I speculate that Alcoa is the lead on offtakes and that the samples that have been delivered are in the hands of customers that are working with Alcoa. This makes sense as Alcoa has a significant advantage over FYI in large customer relationships. For this reason, I still think offtakes will come shortly to the new JV, as they are currently dealing with FYI's product via Alcoa's CR team. To be fair that is our speculation on my part.