You are doubly exposedTamaracktop wrote:
"On April 20th, 2022, the company acquired an additional 6.8 million units of shares and warrants of HPQ by way of a non-brokered private placement for $0.53 for total consideration of $3,604,000.
As of September 30th, the company owned 22,928,100 shares of HPQ, worth $5,044182, as of this past Friday's close.
These are the company's "strategic investments"
They comprise the better part of the "Cash, cash equivalents and publicly traded shares at September 30, 2022 of $8.3 M" referred to in the Q3 earnings release.
The actual cash component of that number is $2,364,861.
Pyrogenesis sold 7,942,000 shares of HPQ in the first 6 months of this year."
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On September 30th, roughly 71% of Pyrogenesis' "Cash, cash equivalents and publicly traded shares" was tied up in HPQ shares, which are down 24% in the last month.
Pyrogenesis has been selling shares of HPQ.
70% of the company's quasi-liquid assets were invested in a company that has never reported revenues.
These are the facts.
The decision makers at pyrogenesis have put the company in a very precarious position.
You better hope HPQ does well.