Exhibit 10.xlvi
Page 1
SCIENCE & TECHNOLOGY RESOURCES, INC.
A Subsidiary of Nevada Manhattan Mining, Inc.
000-X Xxxxx Xxxxxxxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxx 00000 XXX
November 16, 1998
Phystechmed
117335 Moscow, Russia
Xxxxxxxx Xxxxxxx, 00-00
Tel/Fax 0000 000-00-00
Re: Letter of Understanding
Dear Xxxxxxxxx Xxxxxxxxx:
This letter is intended to memorialize the agreement we have reached
relative to the acquisition by Science & Technology Resources, Inc. ("STRI") of
100 percent of the rights, title and interest to the following technologies
(collectively, the "Technologies") owned by Phystechmed, a joint stock company
located in Moscow, Russia:
1. 20 MeV Proton (or heavcy particle) accelerator using Backward Wave
Acceleration Acceleration principle (Bogomolov)
2. 10 (to 12) MeV injectors.
3. 250 MeV Proton Accelerators (Bogomolov); medical model.
4. Explosives detection equipment.
Subject to the completion of its due diligence, corporate and/or regulatory
approvals and if it deems necessary, a more formal agreement, STRI agrees to
acquire the sole and exclusive rights, title and interest to the Technologies.
In consideration therefore, XXXX agrees to pay Phystechmed and/or designees
royalties and/or Preferred Stock of STRI, in an amount and under terms to be
agreed upon by the parties to this agreement, after completion of thorough due
diligence and a financial assessment.
Very truly yours,
STRI
/s/ Xxxxxx X. Xxxx
Xxxxxx X. Xxxx
President
AGREED AND ACCEPTED, this 30 day of November, 1998, with full power and
authority from Phystechmed, to enter into and execute this agreement on its
behalf.
PHYSTECHMED
by General Manager, CEO
/s/ X. Xxxxxxxxxx
X. Xxxxxxxxxx
