Axial Vector Engine Corp. (AXVC.OB) Signs First Major Production Order
Axial Vector Engine announced today that it has signed a MOU with Eastcom Ltd of London for the production of AVEC 195 horsepower 605 torque gasoline engines for civilian applications. Axial Vector Engine will receive a 20% gross sales roylty payable 50% in advance and 50% as each engine is produced. A first run of 200 custom built engines, worth $25,000 per engine, have been pre-sold and will be installed in modified vehicles. The second phase will expand production to 2,000 engines, which will then be marketed to individuals looking for an extra edge in performance. The CEO of the…