RE:RE:RE:RE:PYR and HPQQuite thorough, and very well worded, even the first and second time Snowdogy..... Just to add as well for the original poster, although it may have been mentioned without me noticing, HPQ and Pyrogenesis do have an agreement in place in which HPQ pays or a percentage of revenue to Pyrogenesis in a regular basis..... This agreement may be terminated by Pyrogenesis at any time and switched into a 50% ownership stake in HPQ NANO(A wholly owned subsidiary of HPQ Silicon)......... HPQ is a customer of Pyrogenesis, and pays them for R and D of the purevap qrr and nanosir...... The only things Pyrogenesis can do to affect HPQ, as I see it, are mess with the customer relationship, action the agreement, or vote with the shares they own....... HPQ on the other hand, when they grow as a company and stock, will have a noticeable positive impact on Pyrogenesis........ Pyrogenesis growing as a company is likely to have little to no impact on HPQ directly as their relationship is today......... I am invested in both, I see great things for both, but I certainly am more heavily weighted with Pyrogenesis. Cheers!
Snowdogy wrote: I may have made a few spelling mistakes not clarified by my last post. Anyway....
To lend some information to the discussion.......What is a corporation?
A corporation is a legal entity created under the statute of a jurisdiction which has authority to do so. Provinces have that authority as does Canada. Provincial corporations tend to be local and smaller and do business only within the province (not a definitive statement but a generality) ie your local restaurant, home improvement company or lawn care company etc.. A corporation is a thing which can be issued a license, an approval or a permit. It can be charged, ordered or penalized. It submits its own tax statement annually. In comparison, a sole proprietorship for example cannot be charged as it is not a legal entity. If the proprietorship does something illegal then the registered owner of the proprietorship will assume all liability and be named in any ticket, summons or order.
Federally-created corporations like HPQ and PYR are created under federal law and may operate in any province and internationally. Also, businesses undertaking an activity which is federally regulated such as banks, railways, airlines, ports etc are almost always created under federal law rather than provincial law. For example, if any of you or your close friends or family works for a bank and if a labour grievenace arises the matter is heard by a federal review board not the more common provincial one.
Back to the theme......a corporation, no matter under what jurisdiction it is created, is only a piece of paper. It becomes alive so to speak when it does a thing. It enjoys a far lesser expectation of privacy as compared to an individual therefore it is subject to inspection by a competent authority without a warrant. A piece of paper can't do a thing so every corporation has a legally described list of officers and directors which may change from time to time. The officers and directors are the directing minds of the corporation ie the piece of paper. They attract liabilty as the directing minds of the corporation in that they may be charged, penalized or ordered personally in addition to the corporate entity for an action of the corporation which is held to be illegal if the statute creating the offence allows it.
Okay, long, boring legal stuff and, for the record, I'm not a lawyer but I did this stuff for 34 years. All of this is to say that PYR and HPQ have no common officers and directors when I last searched their corporate information on the federal web site open to all. If there are no common officers or directors then there is, on paper, no common "mind" to direct both corporate entities in a similar fashion. Of course, there can be business relationships between corporate entities as established through civil law but the length, breadth and extent of the contract between the entities established the relationship and nothing else, on paper.
In summary, PYR and HPQ are separate corporate entities with no common directing minds. No one should speak of the two as the same or nearly the same corporate entity unless any contract between the two entities allows for it or makes it so and then only to the extent of the terms and condistions of the contract.
I'll now descend from my soap box.