Hi all-just checking in on the Science First recommendation from another board.... Did this shoot to the moon as he/she predicted..
Well let's consider the facts.
Just a few little pearls from the last annual financials:
“As at December 31, 2023, the Company had cash of $1.8 million, included in the net working capital deficiency of $7. 0 million.”
‘Revenue for fiscal 2023 was $12.3 million, a decrease of $6.7 million over revenue of $19 million compared to fiscal 2022.
‘The comprehensive loss for the twelve-month period ended December 31, 2023, of $28.5 million compared to a loss of $32.2 million, for the same period in the prior year,
The Company has incurred, in the last years, operating losses and negative cash flows from operations, and as a result, the Company has an accumulated deficit of $121.9 million as at December 31, 2023 ($93,4 million at December 31, 2022). Furthermore, there have been unexpected delays in the collection of certain accounts receivable from contracts closed in a prior year. This has resulted in a shortfall in cash flows from ope rating activities that would be used in funding the Company’s operations. As at December 31, 2023, the Company has working capital deficiency of $7,007,719 ($1,650,709 as at December 31, 2022) including cash and cash equivalents of $1,802,616 ($3,445,649 as at December 31, 2022).
https://ir.pyrogenesis.com/news-releases/news-release-details/pyrogenesis-announces-2023-fourth-quarter-and-year-end-results
And further to what that lovely little summary of the company's reports from the annual financials :
They basically have money they cannot, or will not collect or whatever, indicating that whatever revenues are being promised, to me, our suspect:
‘As at December 31, 2023 the allowance for expected credit loss on trade accounts receivable is $8,597,635 (2022 - $4,693,283), whereby $3,904,000 was recognized during 2023 ($4,150,000 during 2022). The portion recognized at December 31, 2023, includes $7,447,813 attributable to one specific customer,”
Not to mention the allegations of fraud by some of the directors by AMF.
Geez-Forget about it for me -where did sci fi go-off with Yanje and the others
Once again, all for entertainment, not for investment purposes, all in my opinion, and in my opinion, you should never listen to anyone on these billboards to make investment decisions, including and especially myself, but also any of those that are promoting this stock, you really have to wonder what is their angle when you look at the facts. And remember these are facts From Company financials. Talk to your investment advisor before investing-and if they vote in favour-get a second opinion IMO