MoU21 Nov 2025, 05:21 pm
IKIO Subsidiary's MOU Partner Assures $8M Business in 6 Months, Achieves $1.05M in 9 Months
AI Summary
IKIO Technologies Ltd. provides an update on the MOU between its subsidiary, Royalux LLC, and Metco Engineering Inc. The MOU, executed in December 2024, aimed for $8M in business within six months. Royalux LLC achieved $679,648 in the first six months and $1,047,648 in nine months, falling short of the target due to slower ramp-up and US tariffs. The companies maintain a positive relationship, but future order fulfillment is uncertain.
Key Highlights
- IKIO's subsidiary, Royalux LLC, and Metco Engineering Inc. signed an MOU for $8M in business within six months
- Royalux LLC achieved $679,648 in the first six months and $1,047,648 in nine months
- The shortfall in target was due to slower operational ramp-up and US tariffs
- Despite the shortfall, the companies maintain a positive business relationship
- Future order fulfillment under the MOU is uncertain