Some glaring highlights from the last 3 earnings reports:

Q4 2021:
Revenues of $7.2MM
Backlog of signed and/or awarded contracts of $47.7MM

Q1 2022:
Revenues of $4,206,762,
Backlog of signed and/or awarded contracts of $41.2MM


Q2 2022:
Revenues of $5,847,180,
Backlog of signed and/or awarded contracts of $35.3M

Revenues in the first 2 quarters was $10,053,942, while backlog has declined by
$12.4 million

Not only does it appear on the surface that Pyrogenesis's revenues this year have been derived entirely from working off backlog, but it appears some orders have been canceled.

This doesn't prevent some novices here from their chant " Pyrogenesis is Growing!"

I believe that some here feel that the stock is cheap only because it's at $2 down from $12.00.

That doesn't mean squat.

A couple of posters here regularly try to ridicule me for my stance on Xebec.

Xebec is down from $11.50 to $0.57 despite Q2 revenues of $44.5 million, up from $32.7 million, and despite a record backlog of $270.2 million.

Xebec has cash in the  bank and is trading at less than half of book value.

Pyrogenesis has little if any cash and is trading at twelve times book value

Anyone who bases their evaluation of a stock being inexpensive solely by comparing today's price to where the stock has been in the past shouldn't be in the stock market, and definitely shouldn't be posting on any board.