billy4325 wrote: maybe111 wrote: Remember, Peter said that Pyro would not need any further operating capital from investors. If true, maybe the payment for powder that took place early in the third quarter is enough to `bridge the gap`.
That was
if they got the "
imminent" $20M+ contract announced in April. So far they still don't have it.
Also from the MD&A released yesterday (Risk Factors section):
PyroGenesis will require additional financing to support ongoing operations and to undertake capital expenditures. There can be no assurance that additional financing will be available to the Company when needed, or on terms acceptable to the Company. PyroGenesis’ inability to raise financing to support ongoing operations or to fund capital expenditures could limit the Company’s growth and may have a material adverse effect upon the Company.
The Company does not exclude raising additional funds by equity financing. In addition, at August 29, 2019, 9,922,000 stock options are currently issued and outstanding, together with 19,782,441 share purchase warrants and $3,000,000 convertible debentures. The exercise of stock options and/or warrants, together with the conversion of debentures, as well as any new equity financings, represents dilution factors for present and future shareholders.