"Rereading last year's announcement, it was a very optimistic message. That Pacali speaks of a sale in his conclusion is regrettable and incomprehensible.
Here he goes wrong, not to mention a serious mistake. Some accountability would not be out of place here."
It's entirely possible someone has had their knuckles rapped for being over-optimistic in making public pronouncements.
Note this excerpt from management's Q1 comments:
"Perhaps even more exciting, our new business development efforts have grown dramatically, with a pipeline of pitched projects within the aluminum business line alone now over several hundred million dollars." And here's another one:
"The board and I see continued production and sales success in the months ahead; as our iron ore pelletization torches enter into on-site client install and testing, 3D powder qualification with the global aerospace company moves to the finish line, and some of our potential aluminum projects in negotiations reach a signing point, we expect the backlog to race past the $50MM mark and beyond,” concluded Mr. Pascali." management has since toned down their comments. Here are two comments from the Q2 release that are somewhat cautionary in and of themselves:
"The first half of 2022 has proffered an unusual combination of events and results.
The Company – as with much of the industrial technology and manufacturing sectors – has felt the repercussions of macro-economic headwinds that have affected the planning, logistics, and spending of its customers and of its sales pipeline targets.
These conditions have weighed, at times heavily, on both the Company’s top and bottom lines, with potential or planned sales being impacted by customer resourcing, staffing, and purchasing delays, and with continued governmental and logistical issues preventing other customers from finalizing contract negotiations or taking delivery of their fully completed orders – orders that represent significant revenue and income to the Company once they can be moved out of our warehouse.
What was anticipated to be a major growth first half, has adjusted to be more of a modest stage-setting for the second half of the year and into 2023"
And then there's this one:
"To note, until such time as the Company produces consistent recurring revenue or continuous large scale orders and can offer forward-looking guidance, we will continue to provide an Outlook that is more descriptive, with a combination of actual achievements combined with working opportunities, and less focused on financial numbers."
Several people have questioned my motives and asked why I post here.
This is a fair question.
I don't have the money to be a sharreholder activist, but if I did, I'd definitely be one.
I looked at Pyrogenesis hard quite some time ago, but decided that their public releases were a little too rosy, almost to the point of causing unrealistic expectations.
Those unrealistic expectations seemed to me to be reflected in the stock price.
That's why I never suggested it to my "friends".