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PyroGenesis Inc T.PYR

Alternate Symbol(s):  PYRGF

PyroGenesis Inc., formerly PyroGenesis Canada Inc., is a Canada-based high-tech company. The Company is engaged in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG). The Company has created proprietary, patented and advanced plasma technologies that are used in four markets: iron ore palletization, aluminum, waste management, and additive manufacturing. It provides engineering and manufacturing expertise, contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (including 3D printing), oil and gas, and environmental industries. Its products and services include plasma atomized metal powders, aluminum and zinc dross recovery, waste management, plasma torches, and innovation/custom process development. It offers PUREVAP, which is a high purity metallurgical grade silicon and solar grade silicon from quartz.


TSX:PYR - Post by User

Comment by MidtownGuyon Jan 25, 2021 4:24pm
348 Views
Post# 32378568

RE:RE:RE:RE:NASDAQ requirements

RE:RE:RE:RE:NASDAQ requirements The $4 (in USD, for the record) share price requirement is irrelevant, as PYR already meets criteria that allows them to uplist under "alternative criteria".  See the following post from January 15 that explains it in detail:

MidtownGuy wrote: PYR does indeed qualify right now for NASDAQ uplisting based on the formal rules. Explanation below.

Here are the formal rules:

https://listingcenter.nasdaq.com/assets/initialguide.pdf

To explain how they qualify:

There are three tiers via which you can apply and eventually be listed:
The Nasdaq Global Select Market
The Nasdaq Global Market
The Nasdaq Capital Market.

For each, applicants must satisfy certain financial, liquidity and corporate governance requirements.

At the current point in time, due to their size/earnings/assets/etc, PYR seemingly best meets the third tier, "Nasdaq Capital Markets".

ALL TIERS initially require a USD$4 share price to qualify.

BUT the "Nasdaq Capital Market" tier allows the ability to meet "alternative criteria" if the company does not have the USD$4 share price.


Those alternative criteria are:
(i) average annual revenues of $6 million for three years, or
(ii) net tangible assets of $5 million, or
(iii) net tangible assets of $2 million and a 3 year operating history

1) PYR cannot meet the average annual revenues of $6MM for three years (they surpassed it in 2020, but 2019 was $4.8MM and 2018 was $5.0MM)

2) PYR CAN meet the net tangible asset criteria.

Net tangible assets (NTA) is calculated as totals assets minus intangible assets minus liabilities.

Historically, PYR's net tangible assets (NTA) have been slightly in the negative.

But thanks to their strategic investment in everyone's favourite little quebec silicon company HPQ, PYR's NTA has swung into positive territory, big time


From the Q3 balance sheet:

Total assets: 39,738,377
(thanks to the strategic investment increase of 23,539,814 from owning HPQ shares)

minus Intangible assets: 910,034

minus Liabilities: 16,231,974

= $22,596,369 net tangible assets.


So PYR does indeed already qualify for NASDAQ listing without having to reach the $4 threshold.



canyousayiii wrote: Yes, different criteria can be met, but starting with the $4, you may want to check whether that requirement is based on US buckaroos, and not Canadian.
RealistDontalkm wrote:

 

There are many ways they can uplist and categorized! Being beyond 4 dollars, asset and capital of the company will them in higher category! The fact that we all meet every requirement means that waiting on an nr for Nasdaq listing is now!

Aarman4 wrote: $4 is not required for them to uplist to the Nasdaq by my understanding.

Obviously we will likely see a news release next month.

Cheers.

 

 

RealistDontalkm wrote: Since we have passed the 4 dollar requirement I'm pretty sure in the next month we will see an nr news...

 

 




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