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received, together with any accrued interest, would be refunded
if the minimum number of limited partnership units were not sold
on or before December 21, 1981, but that, if the minimum number
of units were so sold by December 21, 1981, JDP would be formed
and the offering would continue until the maximum number of such
units was sold or until March 31, 1982, whichever occurred first.
The offering further indicated that JDP intended to
determine, on or before December 31, 1986, whether to convert the
small plantation into a commercial plantation for the growing,
harvesting, processing, and marketing of jojoba plant material,
beans or seeds, oil, and products derived from the jojoba plants.
According to the offering, JDP would continue only if it decided
that growing the strain of jojoba developed under the R & D
program on a commercial basis was feasible, either for JDP alone
or in a joint venture with HJI.
The principal investment objectives of the Partnership
specified in the offering were as follows:
(1) To conduct a comprehensive research and
development program on the jojoba plants on the
experimental plantation with the objective of
developing a strain of jojoba which can be planted,
grown and harvested on a commercially feasible basis
and which will produce a commercial yield of jojoba
beans;
(2) If the R & D Program is successful, to convert
the experimental plantation to a commercial plantation
in 1987 and operate such plantation for profit;
(3) To provide cash distributions to the Limited
Partners commencing in 1987, or as early thereafter as
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