Ann: First K-TIG Welding as-a-Service (WaaS) Milestone Achieved, page-164

Excuse my limited understanding here but I've read the Repacement Prospectus and the latest announcements and still can't figure out if the WaaS welding physically takes place at the licensees premise or at K-TIG's premise.

It looks like the equipment to weld pressure vessels is too big to truck around but if they're not selling the equipment but licencing the service instead, then are they doing all the welding at K-TIG and shipping finished vessels and containers to the USA? Because whats the point of doing a 6 hour weld in 3 minutes if it takes 3 weeks and money to ship it across the world.

Or do the customers have to purchase the equipment and then pay the licencing fee to use it?

Any clarification would be much appreciated.