RE:I am guessing that you are also smoking TEFY weed... Hi Kon. I don't forget what I've written. As we've found, signed contracts can, AND HAVE BEEN, Cancelled!! To refresh YOUR MEMORY... I am providing a copy of a recent PYR press release. Back at ya...
PyroGenesis Cancels Previously Disclosed Non-Military Land-Based Waste Treatment System Sale
MONTREAL, QUEBEC (GlobeNewswire – October 17th, 2019) - PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, today
th
announced that further to its press release dated June 20 , 2019, with respect to the $3.64M sale of a Non-
Military Land-Based Waste Treatment System, the Client has not complied with the terms of the Sale, thus the Company has decided, after numerous extensions, to terminate the Contract.
According to the terms of the Sale, the Client was obligated to pay a total of 40% in down payments
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(approx. $1.46M) before July 31 , 2019. After many deadline extensions provided by PyroGenesis to cure
this default, and numerous failures by the Client, the most significant of which was to not pay on time, the Sale (including the limited territorial exclusivity agreement) is now terminated. To date, the Client has paid approx. $839,370 and these payments have been retained by PyroGenesis pursuant to the General Terms and Conditions of the Sale.
“Regretfully in the course of doing business, this type of eventhappensat times. However, PyroGenesis secures itself from these risks by having payments managed in such a way that our projects remain cash flow positive throughout their completion. The amounts received to date will be accounted for in Q3-2019,” said Mr. P. PeterPascali, President and CEO ofPyroGenesis. “Furthermore, PyroGenesis is actively reviewing the judicial and extra-judicial rights and recourses available to it, so that it may protect and safeguard its rights and interests with respect to the Client’s failure to fulfill its contractual obligations. On a brighter note, we will be re-engaging with other potential clients who were interested in this product line, but with whom we could not continue discussions due the Terms and Conditions under the Contract which we have just terminated.”
Kongratulation wrote: That the funny part about trolls, they forget what they say...
Bytheriver wrote: To clarify, I have stated I believe the contracts between Radian and DI, as well as between DI and PYR, exist. The details of the contracts haven't been made public, so we don't know if they contain cancellation clauses or other caveats, and, as has happened before, it's possible, before the contracts have been completed and fully paid, for any contract to fall into default. Since it was PYR that cancelled the contract referred to in my earlier post, I'll assume they could exercise that option with any contract they're a party to.
I hope this clears up your misunderstanding but I'll be happy to correct you again.
And then last week PyroGenesis issued a PR confirming that all was progressing as announced...
So nothing as changed since you wrote that...
And yet you keep trying to create a false narrative... by interjecting a different reality to facts..
Bytheriver wrote: Hi Kon. So... has the $6.4m been received? It was DI (a private company) that announced the expected 4 payments of $2.m each, not PYR! , and no update has been made by Peter as to how much, or when, payments are expected to be received by DI since the $6.4 announced wasn't received as advised in the PYR press release The US Navy announced the expected service date of the carrier.
So... official press release not good enough for you but bold projections of wealth, unsubstantiated, seem to be okay for you. Dream on.
You don't believe and you sold that OK, but accusing longs of dreaming because we do not share your dark view of PYR is a bit much...