HPQ JV royalty and ownership structure. IF there was a buyout offer for NSiR or Polvere...must be agreed upon by both PYR and HPQ.
PYR can convert 10% royalty of Purevap NSiR and 10% royalty for HPQ Polvere (fumed silica) can be converted at anytime to 50% equity ownership of that JV.
Purevap QRR is solely owned by HPQ with no option to convert to ownership by Pyrogenesis
IF there as a buyout offer for HPQ in it's entirety....the CEO is not the sole decision maker. PYR and Quebec Gov't owns about 8-9% each respectively fully diluted of HPQ. Mgt and Board owns over 10% and strategic investors owns about 6%...which is over 32-34% of all outstanding shares we know of. Plus it would be safe to say 15-20% at least are owned by serious long shareholders which imho puts us over 45-55%. As a long term shareholder myself...I would reject any buyout offer unless obscene as Bernard stated several times as well.
Long and strong HPQ!!!!!!!!!