developbc wrote:
Hope you are having a nice weekend.
There are bunch of bashers this weekend posting narrative that your notice of intent to sell 400,000 shares in near future is some kind of huge negative.
Of course many of us longs believe this is of no concern as you will maintain majority position in addition to the NCIB share buyback of 5,000,000 but it would greatly appreciated if you can kindly comment on this.
Keep up the amazing work!
007
Dear 007,
I really do not know where to start with an answer to this…The bashers must be really desperate if that’s what they are talking about. I am honored that we should get such attention.
But seriously? Some idiot has concluded that if Mellon (a related party) sells 400,000 shares over the next 30 days (20 trading days roughly or about 20,000 shares/day on average) this is a huge negative? …does this same troglodyte realize that we have over 3.4MM warrants expiring in February at 58 cents? What now Einstein? That’s a net positive difference of over 3MM shares…is that now some kind of huge positive? Hell no. You cannot conclude anything one way or another because it just is and has nothing to do with perception of Pyro’s prospects…the amount is just not significant enough.
Even if there were no warrants expiring does our resident caveman realize how long it would take to get rid of our holdings at 20,000 shares a day? When all regulatory procedures are taken into account, I think it is over 40 years… So pop a chill pill troglo-baby. The sound you hear isn’t the sky caving in…just your brain caving in from all the mental math you’re trying to do and failing miserably at it (400,000/3.4mm/20,000/40 years/30 days). Go back into your cave and let the big boys take it from here.
Now this is not the forum, and you did not ask, but I would like to address the idea of “my” related parties selling shares in general. I hope people understand that related parties are not the same party…the are very different albeit related. In other words, if Mellon sells shares, it is not me selling shares, although Mellon is considered a related party to me. Mellon has its own issues to deal with and may need to sell shares for reasons that have nothing to do with PyroGenesis’ prospects; Mellon managing its own business in Covid and having to pay taxes are just two which immediately come to mind.
I am not going to apologize for selling shares…particularly in these miniscule amounts. Nor do I feel I should have to justify it, again, particularly in these miniscule amounts. However, given you asked, and since you claim there are bashers with ill intent running amok, I am happy to oblige.
I Hope that Helps
Peter