The Company was originally founded as a technology solutions provider with the core technology centered on a sonic generator enabling various industrial technological applications. Some of these included; de-asphalting of heavy oil, clean up of coal fired fly ash byproducts, mining mineral recoveries and oilsands separation. In July 2012 the Company sold its interest in de-asphalting of heavy oil process to PetroSonic Energy. Sonoro is entitled to a 10 percent royalty on PetroSonic’s net revenues for 10 years from commencement of commercial operations in each jurisdiction where PetroSonic uses the de-asphalting technology. In September 2014 the Company sold the remaining IP and process to a private British Columbia company. This agreement includes future royalty rights of one percent on a gross sales basis plus $10,000 USD per unit deployed commercially. These royalties may be bought out up until December 31, 2016 for $2,000,000 USD. The company recently launched its first demonstration plant in Richmond British Columbia for the recovery of precious metals from electronic waste and is planning its first commercial plant.
Sonoro is now focused on Oil and Gas Resource Exploration and Production. However, it continues to monitor new technologies that can be leveraged and be a benefit into our oil and gas business.