developbc wrote: Agoracom: Small Cap Investment - PyroGenesis Canada Inc - Re: Questions for Peter and PYR Management
Dear HPQAnon
I do not respect the hidden agenda you have in asking the questions below, but I will answer your questions.
In the future do not try and put my Father in a bad light. If you do, I will not answer you again and will have you removed from this site.
Second, if you are asking me to take my time to answer your questions, I ask that you at least double check the numbers you just copy pasted from sites supporting predatory short selling…what am I talking about? See answer to question 2 below…please at least look intelligent next time and check what you are regurgitating…
For sake of time, I will answer your questions below in red.
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PyroGenesis currently leases its corporate HQ at Suite 200 1744 Williams Street from the “Pascali Trust”. Though I’m aware of last year’s $1.41mm rental “prepayment agreement” (which is an unusual situation itself) due by 12/31/20, I have further questions. While the $60k base rent is on par with the rental listings for other suites in your building ($18/sqft according to https://commercia.ca/en/i/200350/office-for-rent-1744-rue-william-montreal-qc-h3j-1r4-canada), PyroGenesis has been paying around $200k in taxes for the past 4(+) years. This is a far cry from the advertised tax rate of $3.85/sqft. According to the listing, PYR should be paying around $4,000 in taxes annually for its lease. For years, why is/has PyroGenesis been paying the “Pascali Trust” (which you control) an extra ~$195k in property taxes for its lease of Suite 200 at 1744 Williams Street HQ?
Do you even know what you are talking about?
Let’s break out what you are saying:
1st: You state “…While the $60k base rent is on par with the rental listings for other suites in your building ($18/sqft according to https://commercia.ca/en/i/200350/office-for-rent-1744-rue-william-montreal-qc-h3j-1r4-canada)),...)
Response: how much space do you think we rent? You said we pay a reasonable $60,000 and you assume it is at $18/sqft. That would mean we rent $60,000/18 = 3,333 sq ft… What can we do with 3,333 sq ft?
We rent 13,706 sq feet at $15.88 a foot which is under the average for the building of the reasonable rent you said was $18/sqft. PYROGENESIS HAS ALWAYS PAID SIGNIFICANTLY LESS THAN MARKET FOR THAT SPACE.
2nd: You state: “…PyroGenesis has been paying around $200k in taxes for the past 4(+) years. This is a far cry from the advertised tax rate of $3.85/sqft. According to the listing, PYR should be paying around $4,000 in taxes annually for its lease…”.
Response: So, you take the $4,000 in taxes you say we should be paying and divide by the rate of $3.85 you say is advertised, to get 1,038 sq ft…make up your mind do we rent 1,038 square feet or 3,333 sq feet from question 1 above (both are wrong). What can I do with 70 people in 1,038 square feet let alone 3,333 sq feet? As I said we rent 13,706 sq feet and pay $3.85 in taxes which is $52,768 in taxes per year…or yes…$211,072 over 4 years….which is close to the only correct number you referred to: “…PyroGenesis has been paying around $200k in taxes for the past 4(+) years….”
Case closed.
2. Much of the millions of dollars private placement financing for the company since 2014 (and virtually every year since) was done between the company and Phoenix, which is controlled by your father and is a British Virgin Island based entity according to 2010’s massive “Offshore Leaks”, and confirmed by PYR’s own filings (https://sec.report/otc/financial-report/141829). I’m not insinuating any nefarious actions are taking places as there are sometimes perfectly legitimate reasons to repeatedly do business dealings with your father’s BVI-based entity. In PYR’s case, these private placements without fail involve the presence of a “finder’s fee” paid in cash of at least $90,000 (and at least as high as $174,000) as well 70,000+ “compensation warrants” each time. Who exactly are you needing to pay to “find” your father for private placement funding?
LOL
You clearly do not know how straight up we are.
First, I do not respect your thinly disguised attempt to degradate my father, but I will answer you anyways.
My father lives abroad, and he chose an offshore account to hold his investments. He chose BVI because it was cheap…$400 I think to set up. He did it because he was allowed to, and it was part of structure that made sense given his situation. In the USA you deduct mortgage interest on your taxes, no? Well, same idea.
He never hid the fact that he was owner.
I never hid the fact that he was owner.
All our filings reflect he was owner and that we were related.
With respect to finder’s fee…what are you saying? The facts are that we did non-brokered private placements with 3rd parties who charged finders fees for the total transaction. In these fees there is usually a carve out for friends and family where the broker would charge less/no fees. My friends and family (remember my Dad is family) would invest under this carve out of lower/no fee depending on the transaction. For the record, my Dad did not invest much in any given private placement…it was not like he was 75% of the total. Plus, the fee was paid to a 3rd party…don’t you think we would negotiate that to as close as zero as possible?
Case closed.
3. Does PyroGenesis have a contract directly with the US Navy? Or does PYR have a contract directly with Newport News Shipbuilding, the latter of which is directly contracted by the US Navy?
I refer to our press releases referring to the transaction that states the relationship between all three parties….https://www.pyrogenesis.com/wp-content/uploads/2018/10/20110912-US-Navy-Milestone.pdf
Please also refer to this video at the 6 min mark which explains in great detail the relationship and contract evidence to support our claims:
https://www.youtube.com/watch?v=HUX3hVC3Bvo
Case closed.
Hope that Helped
Peter