Orca Touchscreen Technologies Ltd. announced that, further to its announcement on July 18, 2014, it has entered into a letter of intent dated September 30, 2014 with Sollensys Corporation and Mr. Carlos Fernando Rivers Sandoval governing the proposed incorporation of a Guatemala joint venture company called Sollen-Mobile, Sociedad Anonima for the purpose of: developing, manufacturing and marketing a smart and inexpensive way of allowing access to telecommunications technology to large masses of mobile phone users; developing, manufacturing and marketing an inexpensive tablet or pad, allowing a large number of customers (especially those in education and business) to enjoy increased productivity; and developing and implementing programs for computers and mobile applications to provide content to the above tablet or pad hardware; The initial paid-in capital of Sollen-Mobile is proposed to be $300,000, with $100,000 to be contributed from each of (a) Orca Touchscreen in the form of cash; (b) Rivers Sandoval in the form of know-how; and (c) a yet-to-be-determined third investor as to cash. The initial board of directors of Sollen-Mobile is to be composed of six members and three alternates. Each partner has the right to appoint two directors and one alternate.

The head office and plant location of Sollen-Mobile is proposed to be Escuintla, Guatemala, specifically in the industrial park called ‘Technopark', for logistical convenience and for tax advantages. The letter of intent is governed by the laws of the Republic of Guatemala. The partners are currently working towards a definitive agreement for the project.