If anyone bothers to read the full warning order, they will find this is actually a positive sign, Peter is selling shares to exercise options which will result in an increased share position for him. I'm holding tight as I have for many years, when a solid sale is announced, hopefully the 36 torches, (could be several other events) this stock is going to turn around so fast many playing it short will be destroyed, and that will make me very happy. Enjoy you weekend!
In addition, Mr. Pascali beneficially owns and controls options issued under PyroGenesis’ option plan to acquire 6,850,000 Common Shares (of which 5,875,000 are currently vested (the “ Vested Options ”) and 325,000 will vest on July 16, 2021, 325,000 will vest on July 16, 2022 and 325,000 will vest on July 16, 2023 (the unvested options, collectively, the “ Unvested Options ”)).
Assuming the exercise of all the Vested Options, an aggregate of 5,875,000 Common Shares would be issued, and the Total Ownership would increase to 87,131,998 Common Shares (or 86,366,998 Common Shares assuming the completion of the Proposed Disposition), or 50.18% (or 49.96% assuming the completion of the Proposed Disposition) of the issued and outstanding Common Shares (based on the number of Common Shares issued and outstanding as of the date hereof and after giving effect to the issuance of the 5,875,000 Common Shares issuable under such options). Of such Total Ownership of 87,131,998 Common Shares, (i) 67,617,941 Common Shares would be beneficially owned and controlled by Mr. Pascali, (ii) 7,251,000 Common Shares would be controlled by Mr. Pascali and beneficially owned by the Holdco, (iii) 11,263,057 Common Shares (or 10,498,057 Common Shares assuming the completion of the Proposed Disposition) would be controlled by Mr. Pascali and beneficially owned by the Trust, and (iv) 1,000,000 Common Shares would be controlled by Mr. Pascali and beneficially owned by the Foundation.
Assuming the exercise of the Vested Options and the Unvested Options, an aggregate of 6,850,000 Common Shares would be issued, and the Total Ownership would increase to 88,106,998 Common Shares, or 50.46% of the issued and outstanding Common Shares (based on the number of Common Shares issued and outstanding as of the date hereof and after giving effect to the issuance of the 6,850,000 Common Shares issuable under such options). Of such Total Ownership of 88,106,998 Common Shares, (i) 68,592,941 Common Shares would be beneficially owned and controlled by Mr. Pascali, (ii) 7,251,000 Common Shares would be controlled by Mr. Pascali and beneficially owned by the Holdco, (iii) 11,263,057 Common Shares (or 10,498,057 Common Shares assuming the completion of the Proposed Disposition) would be controlled by Mr. Pascali and beneficially owned by the Trust, and (iv) 1,000,000 Common Shares would be controlled by Mr. Pascali and beneficially owned by the Foundation