RE:$65MStairwayTo wrote: Back on 6/16/2021 Peter wanted to reassure investors that all projects were on tracks.
He went on to say:
“If we are conservative and define the pipeline as being those contracts where we are either in final discussion as the sole supplier, or in a leadership position in a competitive bid, and if we further narrow the definition by looking only at contracts that are expected to be signed within 6 months, then the pipeline is in excess of $65 million.”
“$65M to be conservative.” (That would usually mean possibly more, but at least $65M)
“Only at contracts where we are in final discussion and in a leadership.” (could also lead to think that there are more)
“Only at contracts expected within 6 months.” (Could also have been in June or July, or August, or …etc), (could also mean that there are more in the 4th quarter, Oct. to Dec.)
And remember when Peter said back 9/11/2020:
“There seems to be an indication that certain comments made by a fund manager in the course of an interview lead to this decline. In the interview it appears that one could conclude that he suggested that he did not expect more than 1 to 2 torches to be sold by PyroGenesis within the next 3-6 months,” said Mr. P. Peter Pascali, CEO and President of PyroGenesis. I can confirm that the Company has visibility on more torch orders than that alluded to in the interview. In fact, I can confirm that the current status of torch negotiations with various clients anticipate closing more than 1-2 torch deals in well under 3 months, let alone 3-6 months.”
These are 2 examples of total missed guidance and the market does not like to be misled, for reason of integrity, judgment, dishonesty or even worst, not knowing what’s going on.
And this is why, even with some decent small orders and good financials with year over year revenue improvement, doesn’t cut it. (At the moment!)
Thanks for stating the obvious, unfortunately you make it sound like this is Peters fault. He gave guidance based on what he knew at the time. Not his fault if things happened to alter the timeline. He's giving shareholders a heads up on what is coming and most appreciated it. The sales he mentioned will happen just going to take a little longer. Jmo