RE:RE:RE:RE:PYR Torches production ability to meet purchase orders! As at March 31, 2023 the allowance for expected credit loss on trade accounts receivable is $5,450,840 ($4,693,283 as at
December 31, 2022). The amount as at March 31, 2023, includes $4,750,000 attributable to one specific customer, whereby
the carrying amount has been reduced from $12,799,827 to $8,049,827. The remaining credit allowance is $700,840 and
attributable to all other trade accounts, whereby the carrying value was reduced from $6,576,579 to $5,875,739. On the
basis of the Company’s expected credit loss policy, the allowance was determined generally by applying a loss rate of 1%
on balances 1-30 days past the invoice date, 2% for 31-60 days, 3% for 61-90 days and a minimum of 10% for those beyond
90 days. Specific consideration was applied for situations where the receivable is a holdback on a contract, and also for
customers that have exceeded normal payment terms.