Ann: FBR General Meeting Presentation, page-218

WAAS works well IMO if they can get the strategic partner, FBR cannot fund machines.

Simplistically this is how I think it will work (all hypothetical), lets use Oldcastle as the strategic partner (will be a block supplier in most cases, and they are in US)

1. WAAS entity set up that FBR own 50%, Oldcastle 50% - Fastbrick Americas.
2. FBR give Fastbrick America rights to all of US for X amount of time.
3. Oldcastle have exclusive rights to supply all blocks for Fastbrick Americas.
4. Oldcastle loan Fastbrick Americas money to start up and build 50 machines over 5 years with Leihberr.
5. Loan is paid back + % from revenue.
6. Once debt paid off FBR/Oldcastle share in any net profit which will flow back to FBR/Oldcastle.

Simplistically, Oldcastle/BKW/Weinerberger get to sell blocks as a wall/service to builders. They have to fund and find the work, FBR just supply the tech/IP.

FBR don't make money from selling machines, they make cash from selling WAAS once cost for machines/start-up has been paid back.