NNRF Inc. is a technical solutions company focused on high-end environmental markets in the former Soviet Union, Europe & Asia. The mission of NNRF Inc. (NNRI) is to provide cutting edge environmental safety solutions for the nuclear waste management and power quality challenges facing the Russian, European and Asian markets.
             Q&A

 
 
NNRF, Inc.


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To help keep shareholders informed NNRF, Inc. management will present answers to questions it has received. This page will be redesigned later but for now it is a place for you to submit questions. They will be answered here over time.

March 1

Question:

What raw materials go into the end product used to shield .i would suppose some of this is proprietary, but some components are likely to be known in the industry. Can you elaborate?

Answer:

There is a description on the company website: This new composite shielding material is a polymer with a metal blocker which provides new dimensions to radiation safety. A distinctive feature of the new material is that it is possible to modify its protection and construction properties as required. Another advantage of the material is that it is more flexible than traditional shielding materials, it surpasses steel in withstanding corrosion attacks and can be used as a construction material. The new shielding materials are non-toxic, can be manufactured in an environmentally friendly manner and have excellent thermal stability.

There is more information here:  http://www.nucon-rf.com/feecom.html

 

Note on April 14:

NNRF will attend an international conference this week in Moscow. These are ongoing long term projects and the participation of NNRF among the other international participants in this conference highlights their significance in the industry.



This is a machine translation so there are many mistakes ...  original in Russian is here: http://www.ainf.ru/novosti/  or here  http://www.minatom.ru/News/Main/view?id=54550&idChannel=358

April 16-18, 2008 in Moscow at the Central Research Institute of Management, Economics and Information Rosatom (NC) will hold an international conference entitled "International cooperation for the elimination of nuclear legacy of the atomic fleet of the USSR".

"Since the end of the Cold War" from the Navy were withdrawn about 200 nuclear submarines, and thus faced with the task of disposal. This process includes: unloading spent nuclear fuel breaker boats and radioactive waste management. Another important task is to eliminate the danger emanating from spent nuclear fuel and radioactive waste accumulated at the former Navy coastal technical bases.

There was an urgent problem decommissioning of radioisotope thermoelectric generators and their replacement with an environmentally friendly sources of electricity.

10 years ago, on 29 May 1998, the Russian government adopted a Decree № 518 on the transfer of the Ministry of Atomic Energy of the Russian Federation functions of the public works customer-coordinator for the integrated utilization of nuclear submarines (NPS), and rehabilitation of ex-shore technical bases (BTB) fleet that helped to increase international assistance to Russia and its more effective use. It is time to bring the interim results of a decade of work in the implementation of the decision.


In 2002, "at the summit of Eight" in the Canadian town of Kananaskis was adopted by the international program "Global Partnership Against the Spread of Weapons and Materials of Mass Destruction", in which it was decided to allocate over 10 years, amounting to 20 billion dollars for specific projects . States were made by donors USA, Russia, Germany, Italy, Great Britain, France, Canada, Japan, later joined the program Norway, Sweden, Switzerland, Poland, Netherlands, the European Bank for Reconstruction and Development, the program AMEK.

One of the priorities of the Global Partnership is the dismantlement of decommissioned battle of the Navy nuclear submarines, which was carried out in Russia on their own and donor funds in the past years.
Activities within the program "Global Partnership calculated for a period until 2012. In connection with the approach of that date, it is important to evaluate the results achieved to date.

At this conference in TsNIIAtominforme will debate and take stock of international cooperation for an integrated submarine dismantlement and rehabilitation temporary storage of spent nuclear fuel and radioactive waste.
The representatives of businesses and organizations will report on actual problems faced in the course of performing reclamation and rehabilitation of radiation-hazardous sites, will evaluate their progress results.

The conference will be attended by representatives of: Rosatom and Rostechnadzor; donor countries (Great Britain, Norway, Canada, the European Bank for Reconstruction and Development, etc.); ISTC and the IAEA, the nuclear industry organizations taking part in the conduct of research and development activities on the subject of ongoing programmes (TsNIIAtominform, History, "IBRAE, VNIPIET, OKBM, FEI, ARRICT, VNIITF, the NGO" Radon "NITI them. Alexandrova, etc.). businesses involved in the implementation of existing recycling programs NPS and rehabilitation BTB (RRC "Kurchatov Institute", "SevRAO", "DalRAO", "Onega", "Star", "Star" DVZ etc.).

January 28

Someone asked where they could get information about the company. Below we have all the company press releases so much is there. You also should visit the company website nnfr.com for all the SEC filings you can go to pinksheets.com

Someone also asked about company earnings projections in 2008 for ATOLL and the shielding etc. As we state below this is a time in Russia for bids in the nuclear spare part's field so it will be a bit longer until the order book for 2008 is clearer for ATOLL. The trial shielding install expected to be this quarter also and that will provide information but until then it is hard to place a figure. Earnings amounts will also be impacted by what percentage we own of acquisitions such as Velcont and when increases in ownership take place. Because of these factors we cannot at this time give accurate estimations.

Once the equity accounting we are working on now is completed the revenues and cash flow should be much clearer for shareholders.

Question:

When will the company's annual meeting for shareholders be?

Answer:

The exact time and place has not yet been set but it is anticipated to be in mid March.

Question:

When will the order book for ATOLL be talked of for 2008?

Answer:

This is the time of year in Russia in which they tender for contracts so later on we can learn of the ATOLL order book for 2008. Last year this was given in April. The annual meeting will be a time to ask about this.

January 24
Question:

How does the Feecom/BIECOM encapsulate the lead? Is it made into canistar/containers or some custom process?

What does the nearest competitor do?
Why is FEECOM/BIECOM process better?

Answer:

Feecom/BIECOM Does not use lead.

As shown here are some bricks in an dovetail shape good for for building walls. It is a molded material so can be made in virtually any shape. There are some technical delails on the NNRF website http://www.nucon-rf.com/feecom.html

There is no competition at the moment. FEECOM/BIECOM contains no lead so is non toxic. The European Union has a ban on the us of lead in 2010.

 

 

 

 

 

 

BIECOM blocks shown at the Atom-Expo 2007 show in December 2007

 

 

January 22

Question:

Where do you see the price of NNRF going in the next six months?

Answer:

The questions here are for company management and they do not comment on stock price.

Question:

What is the status of a mentioned possible stock dividend?

Answer:

This was covered in the Corporate Review on January 10.

Question:

When will NNRF be moved to the OTC market from the pink sheets?

Answer:

This was also discussed in the Corporate Review on January 10. The Company, along with its sponsor, are working on the NASD comments as part of the process that will enable the Company to list on the OTCBB.

January 11

Most of the recent questions were answered in the company’s review of corporate activities on January 10. NNRF, Inc. Announces Review of Corporate Activities 2007

The few that were not:

Question:

What is the status of Mercers holdings? Since July 4.25 million restricted shares have been entered into the public float. How many shares does Mercer have?

Answer:

These shares are privately held and we cannot comment on this.

Question:

We have heard estimates of how much lead is presently in nuclear plants in Europe which will need to be replaced. What is the ratio of lead to BIECOM or FEECOM that would be needed to replace the lead (i.e. a pound of BIECOM is needed for every pound of lead removed).

Answer:

The ratio is similar pound to pound but the volume requirements are totally dependent on each site. In addition the formulation of our products is also site dependent.

Question:

What is estimated value of the market for BEICOM/FEECOM?

Answer:

This cannot be determined as there is no reliable figure for the quantity of lead that needs to be replaced. It is not just nuclear power plants and hospitals but also dental offices, research labs, transport equipment etc.

Question:

Will NNRF, Inc. perform the site engineering and installation of FEECOM/BIECOM or only be involved in sale of the product?

Answer:

NNRF will be responsible for site engineering and in certain instances will be involved in installation.

Question:

Can you tell us the basic selling price for BIECOM or FEECOM.

Answer:

Pricing depends on a variety of things however a reasonable ballpark price at this time is $24 – $33 /kg for BIECOM and $4 – $11 / kg for FEECOM.

 

You may read: NNRF 45-page report Strategically Positioned for the
“Dawn of a New Nuclear Age”

(Some questions regarding confidential information and/or ongoing negotiations may not be answered)

 

Recent  announcements: See the full stories on the links below:

 

March 11 NNRI NNRF, Inc. Announces Update of Corporate Activities

NNRF, Inc. today announced an update of corporate activities. In this press release we update interested parties on the Company's progress in its endeavors and discuss some of the new initiatives being undertaken. NNRF, Inc. is hereinafter sometimes referred to as the ``Company.''

 

ZAO Atoll 

Atoll's auditors completed the audit field work portion of the audit in the last week of February. Our U.S.-based auditors were present and participated in the field work process. The audit working papers are now in the process of partner review in Moscow, and upon completion of the partner review, the draft financial statements and audit working papers will be forwarded to our U.S.-based auditors for review. It is anticipated that the review by our U.S. auditors will take place in the week of March 10, 2008.

Atoll management reports that the ramp up of manufacturing in the Kirov region facility has been completed and that the company is now in full manufacturing in its new location. As reported previously, this move was undertaken in order to take advantage of the highly trained, relatively low cost work force in the Kirov region and position the Company closer to material suppliers and customers. In addition, Atoll's consolidation of senior management, marketing and reporting activities in Moscow has worked well with a major benefit being that the marketing department is now closely located to major customers.

JSC Velcont and JSC ElectroPrivod

Both JSC Velcont and JSC Electroprivod have continued to expand their 2008 order books during the first quarter of 2008. Electroprivod plans to relocate portions of its manufacturing into the Velcont facility in the Kirov region and to increase their cooperation.. Electroprivod has also successfully made sales to new customers in Asia. These initial export sales are the beginning of what Electroprivod believes will be long term growth in its export development program.

NNRF and Electroprivod are in the final stages of completing the investment agreement between the two companies. It is expected that the agreement will be finalized during the first quarter.

FEECOM/BIECOM

The Company is pleased to report receiving its first commercial order for BIECOM from one of Europe's largest nuclear facility operators. This order is for the supply of a nuclear shielding structure necessary in use of radiation measurements and nuclear analytics. This prototype will be used as the basis for future implementation of additional shielding walls and structures.

Another NPP operator has also asked the Company to supply specially designed containers to shield radioactive water containers. NNRF's staff, in consultation with the customer, has completed the design of these containers and the Company is proceeding with the development of the required moulds.

During March, we completed negotiations with suppliers for manufacturing machinery. We anticipate taking delivery of machinery in May and until that time the supplier will provide loaned equipment for our manufacturing requirements.

As previously reported, we have met with management of a German-based medical facility regarding the supply and installation of BIECOM in the facility's computer tomography and radiological therapy center. The Management of the facility has presented our proposal to the medical facility Board of Directors. We expect to have a response to our proposal in the near future.

In addition to our first commercial sale of BIECOM, the Company has been contacted by two other European operators of nuclear power facilities regarding our shielding products. These operators will be meeting with Company staff during March.

BICOFLEX

During the past nine months, the Company's scientific group has developed BICOFLEX, a flexible version of its FEECOM/BIECOM material. This material was initially displayed at the AtomEco exposition in Moscow in November 2007. BICOFLEX has many applications such as for aprons that are placed on patients during x-ray procedures and radiotherapy.

The Company has been in discussion with one of Europe's largest manufacturers and suppliers of shielding garments for the supply of BICOFLEX. NNRF was asked to provide samples in various sizes for testing. To date, the material has surpassed all tests. NNRF staff are in close discussions with the garment manufacturer regarding distribution rights for Europe.

In addition to being used for garments, BICOFLEX can be manufactured in curtain format. Because of its flexibility, the curtain material can be used in geometrically challenging areas where rigid material cannot successfully block radiation. In addition to supplying BIECOM/FEECOM to nuclear power plant operators, we have been asked by the operators that we are currently working with to present the curtain material to their management groups.

The Company is extremely encouraged by the response that it has received for its radiation shielding materials and expects to post related revenues during the second quarter of 2008.

FEECOM/BIECOM and BICOFLEX are produced in Hanover (the capital of the Federal state of Lower Saxony), Germany and production quality is controlled by the University of Applied Sciences Hanover, a technological university that has entered into a production agreement with NNRF.

Russian Trading System

Company representatives will be meeting with RTS senior management during the week of March 10, 2008. These meetings will continue discussions of the processes required for listing on the RTS. Rules regarding dual listing on the RTS have only recently been developed and issued and we will be closely reviewing these new rules with RTS management.

South Korea

During January Company representatives met with the Korean Nuclear Industry Company (KNI). KNI is very active in the nuclear industry in South Korea. South Korea currently has 20 nuclear power generating stations and there are four nuclear power plants under construction with two more budgeted for construction and another six in the planning stages. Additionally, the country has firm plans for the decommissioning and dismantlement of two nuclear power plants.

KNI is a supplier to the Korean nuclear power industry with a market share of approximately 40 percent. KNI is interested in marketing the full line of NNRF products including our line of containers which are under development with our joint venture partner the Moscow based Engineering Center for Nuclear Containers. KNI has begun marketing our products and we expect to finalize the terms of a distribution agreement with the company in the second quarter.

Nuclear Container Corporation

The Company has formally entered into its previously announced joint venture with the Engineering Center for Nuclear Containers. This joint venture is in the process of being incorporated in Russia under the trading name The Nuclear Container Corporation (NCC). Mr. Vitaly Fomenko has been appointed the General Director of the joint venture. Mr. Fomenko is a graduate of the Moscow Engineering-Physical Institute where he majored in experimental nuclear physics. Mr. Fomenko has a long history in the nuclear industry in Russia and the former Soviet Union including involvement in the containment emergency at Chernobyl in 1986. He began his career as an Engineer at the I.V. Kurchatov Institute of Nuclear Power in Russia. He was appointed to the Ministry of Atomic Energy of Russia as a leading expert and specialist on various nuclear matters. In the early 1990s he became the General Manager of the United Nations Project UNSCR 687 responsible for the export to Russia of research reactor irradiated fuel elements from Iraq. His latest position was Deputy Director of the Academic Center of Strategic Partnership and Power Safety located in Moscow. Mr. Fomenko is fluent in English.

New office in Moscow

The Company has secured new, larger office space in Moscow. This new space will provide room for NCC staff, Atoll staff and expanded space for the reporting group that will be responsible for the consolidation of all reports and communication between the companies in the group. We will post the contact information for the new office on our web site once telephone lines have been connected and all staff relocated.

Year end audit

The audit of NNRF is currently underway. The Company will be reporting financial results for 2007 in accordance with regulatory filing requirements.

Web site

The Company has contracted with a German-based web developer for a new web site. This development is expected to be completed by the end of March. The site will be multilingual and will be designed with an emphasis on marketing and information dissemination.

 
Latest News about NNRF:
   

 

 		 

 

 

ABOUT NNRF:

NNRF is a U.S. corporation with executive and operations offices in Moscow, Berlin and Washington. NNRF offers design and manufacturing of specialized products for nuclear reactors and nuclear waste management; proprietary nuclear shielding, decommissioning and decontamination technologies; and engineering/design services for a range of environmental challenges. NNRF owns manufacturing facilities and provides both equipment and services for nuclear power plants and compliance, shielding, transport and interim and final storage requirements for government agencies and nuclear service companies. NNRF also owns or licenses proprietary leading edge technologies which provide NNRF with a market edge in manufacturing, design, engineering and services capabilities. NNRF's management team has extensive industry and government service including extensive in-house expertise in all aspects of radiological protection and radiological waste management. NNRF has entered into strategic alliance agreements with government agencies of the Russian Federation. Access through NNRF's strategic alliances to key processing and disposal facilities in the Russian Federation enables it to complete a broad range of projects efficiently and cost effectively. NNRF believes that this access provides vertically integrated services that distinguish it from competitors. NNRF manufactures nuclear power plant equipment in Russia and has multi-year sales contracts for a significant portion of current production with ROSATOM, the owner and operator of all Russian nuclear reactors. NNRF also provides products, services and proprietary technology based solutions through its strategic alliances to multilateral and bilateral funded projects located in Northwestern Russia known as the Northern Dimension Environmental Partnership (NDEP). This area contains the largest repository of spent nuclear fuel and radioactive waste in the world. The projects involve the decommissioning and disposal of nuclear powered naval vessels of the former Soviet Union. The projects are funded by G-8 member countries. NNRF currently is expanding its marketing to include the European Union, China, India and North America in 2007-08 through strategic marketing partnerships with multinational energy service companies. NNRF is currently engaged in the due diligence phase of potential further acquisitions in 2008 which are intended to substantially increase its current asset and revenue base.

SAFE HARBOR STATEMENT:

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potential and other prospective presentations by NNRF. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. NNRF undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in NNRF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

 

 

 

 


 

 

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