Repayment Status Report

as of August 8, 2006

The government is committed to transparency in all aspects of TPC's operations and will continue to provide updated information on repayments to the program on a regular basis.

All TPC investments are conditionally repayable - this is a requirement of all contracted projects. These are investments in research and development (R&D) projects, which by their very nature are long-term.

Projects commence with an R&D, or work phase, which is followed by a benefits phase - the period in which a product, or a technology, begins generating revenues for the company. It is during this latter phase that repayments normally commence.

The majority of TPC projects are still in the R&D phase and significant repayments are not expected for a number of years. TPC invests to achieve strong public policy benefits that go far beyond simple financial returns.

Explanatory notes:

The authorized assistance amount represents the maximum amount contracted. As the R&D progresses and the project reaches its conclusion, the final disbursed amount could be much lower.

The repayments shown represent information which companies have allowed to be disclosed. In some cases, the repayments column is blank for one of the following reasons:

• the company has exercised its rights to protect the repayment information under the Access to Information Act and the Privacy Act ;
• R&D is complete but repayments are not due until a later date;
• TPC does not currently expect repayments from the company as their R&D is ongoing and repayments are not due until the next phase of the project;
• the company has issued warrants to TPC which have not been exercised yet.

Should a company have several contribution agreements, their decision to disclose repayments may not extend to all projects. If a company has more than one project, the date indicated is the earliest contribution agreement signing date.