The news release friday requested by the TSX appears to contradict the financials and CEO's previous responses by the CEO
I believe that they may need to restate the financials or issue a detailed Material change report but Im not a lawyer with "50 years of securities law experience "
Good Morning Mr Tourilion
I am somewhat confused by the conflict between your responses on Nov 30 2022 and your Jan 20th news release. Your response quotes your Q3 MDA . As you have now disclosed that the IP sale did not occur are you going to restate the financials and MDA or make a material change report ?
"Given the current lack of agreement between the parties on the transactions to be finalized, this advance on acquisition and future work "
https://money.tmx.com/fr/quote/HPQ:APH/news/5743262924981006/Mise_xE0_jour_corporative
It appears that the TSX does not agree with HPQs legal counsel, who I believe is either a director or may be related to a member of the board of directors. You may wish to reconsider the firms choice in legal counsel based on your second statement on Nov 30th and possible conflict.
Can you also provide a detailed statement confirming the TOTAL amounts paid for the QRR project as I understand the contract was for $8.26 million for a 200 MT unit including the related IP
I trust you wont be erasing this as it seems relevent.
Please find in bold underlined the replies to your queries after your questions in italics in the text below.
"Your Q3 financials state HPQ purchased $ 3.6 million worth of IP from Pyrogenesis in Q3. No announcement of any form was made by either party. Can you advise the investors what specific IP was purchased? "I do not believe it is QRR or NSIR as they have been paid for previously."
The answer was on page 7 of the Q3 MDA:
"As part of its IP portfolio strategy to protect the PUREVAP™ QRR technologies, HPQ acquired from PyroGenesis in September 2022, a new intellectual property regarding a “Low Carbon Emission Process for the production of Silicon”.
"When will the investors receive an official press release with disclosure of the specific details of this substantial purchase including the terms."
We have divulged what was minimally required to do at this time, as per potential future press release, I cannot comment.
My lawyer, well actually HPQ Legal counsel, tells me that our MDA disclosure meets the minimum disclosure requirement at this time on the subject of the IP purchase.
You will understand that I will stick with the advice of HPQ legal counsel, with his more than 50 years of securities law experience, over the advice of an anonymous poster with an agenda of spreading FUD (fear, uncertainty and doubt) against HPQ.