RE:Still too much risk? PyroGenesis is Derisked BytheSwamp What gives you the assurance payments (plural) have been flowing from Radian? Actually, they're due to PYR from DI... The contract was announced in multiple ways last year but on Oct 9/19 PYR announced $6.4M was expected in 2-4 weeks. That never happened and it was about two months before it was announced payments would be coming through a Letter of Credit payment process @$2mil a pop. Yup, that never happened either. Then at the end of March a wild tale of US$1mil being received by DI... because the bank could only transfer $1M per week!! What a story. So, no, we shouldn't assume payments have continued to flow if announcements as such are not being made.
Teeoff01 wrote: The payments for Radian are coming through, it's been three weeks since the contract was announced, if there was a change in payment schedule that warranted delays at this juncture, they would have to press release as such, another ridiculous statement made to instill doubt in new investors' minds. The company is going to post significant revenue growth in 2020 and this fool is still trying to convince people otherwise.
This payment schedule still stands until I hear word back from the company that it is no longer the case. Announcement made 3 weeks ago:
“It is extremely exciting to officially start this project, and to be introducing the DROSRITE™ technology to one of the biggest high-tech aluminum smelters in the world,” said Mr. Alex Pascali, CEO of Drosrite International. “As previously disclosed, this down payment as well as the three subsequent payments of $2M will be closely timed. As such, the Company will receive $1M transfers approximately every week over the next several months. We do not see any reason to modify this expectation as the relevant invoices have, or will be sent out shortly. It is important to note that, not only has work already begun on the project, but our supply chain is intact.”
What's also important to note is the fact that we have no visibility on other business lines such as powder and most definitely other contracts in negotiation, even when referencing the following quote from the tunnelling NR, which leads me to believe there is more ongoing:
“This Agreement, once again, underscores our plasma torch expertise, and we are pleased to be applying it to a very unique and significant opportunity,” said Mr. Alex Pascali, Business Development Manager of PyroGenesis. “This highlights the fact that we not only sell plasma torches, but also provide the expertise required to develop cutting edge plasma-based applications. The Company continues to increase revenues and reduce risk by diversifying its customer base with a standard product offering. This is just one of many exciting developments at PyroGenesis these days.”