RE:RE:RE:Olderguy:Developbc, the money recieved for the Navy and Drosrite orders does not qualify as money raised by prospectus, so it does not count towards the $10 million the TSX requires to be raised by prospectus. Peter's news release does not say how they would meet the TSX requirements. He only says PYR does not need to raise working capital, so there is not need to sell equity to meet PYRs financial requirements. That does not count as far as the TSX is concerned. They want to see evidence of $10 million raised by prospectus, a reqiuirement which Peter admits PYR does not currently meet.
Why don't you ask Peter to say what he thinks will be rerquired to meet the TSX requirement?
developbc wrote: For those out there that get agitated why I copy paste and highlight some of my post...here is classic example why as I already posted in this regard only an hour ago: NOT a NEED for financing...securities issuance for TSX uplist:
Without limitation, the original listing requirements of the TSX provide that a company must have a minimum of $10,000,000 in the treasury, the majority of which has been raised by the issuance of securities qualified for distribution by a prospectus, which requirement is not currently satisfied by the company.
Majority is defined as at least $5M+ $1 which I am sure Peter has lined up already with banks and lawyers.
The balance is zero concern as yesterdday NR: $4.8M from US Military + $2.65M coming in from Drosite = $7.45M plus cash they have been receiving from Drosite and HPQ already easilly is over $5M on hand plus the securites issuance required to satisfiy TSX uplist.
Contract for torch news seems strategically delayed as we uplist knowing Peter. Imho torch news is very very soon.
LONG and STRONG PYR!!!
Olderguy1 wrote: Thank you Sandy. Actually, I think uplisting is generally a good thing, but probably not as good as you think. I think PYR will have to issue stock in a bought deal for about $10million to meet the TSX requirement, but they will not do it until after a torch order is received and the stock price is north of $4.50 and hopefully up around $6 or $7. Then the deal would be done at about $0.50-0.75 less than the market price at the time.
What do you think Sandy?
sandysouci wrote: can you please start posting all the negatives and things to worry about regarding today's uplisting announcement?...
no doubt, you'll be able to come up with several reasons why this is bad for PYR...
waiting on you..........................