I liedFrom the Annual information form filed April 9th....
Probably very under-read by shareholders.
The AIF every year spells out how the company is doing in plain English.
Only once a year.
A requirement of a TSX listing for every company.
More people should read them.
Agreement:
Under the terms of this agreement, Drosrite International had received the required rights from PyroGenesis to perform Drosrite International’s obligations under a 2019 agreement it had entered into with Radian Oil & Gas Services Company, an oil and gas services company operating in the Middle East (the “Dross Processing Service Agreement”). For more information on the Drosrite International Exclusive Agreement, the Dross Processing Services Agreement, and the relationship between Drosrite International and PyroGenesis, see “Directors and Executive Officers – Conflicts of Interest”. After receipt of said payment, a balance of $10.7 million remained owing under the contract.
That was 5 years ago.
I'm quite sure that at last mention, there remains an unpaid balance of "approximately $10.7 million".
5 years later.
Hmmm
Maybe Drosrite is being forgiven interest..
Or maybe its that Radian is being forgiven by Drosrite,
and Pyrogenesis "understands".
Or maybe the shell company that Drosrite is will fold at the same time Pyrogenesis does, and everyone walks.
It's so exciting!
What scenario will it be??