RE:Round of financing and share dilution on it's way Folks.... Funny ... Lets do a quick summary of HPQ Please feel free to correct me if there is an error and you have facts to back it up ,
There were only 10 962 711 shares On July 14, 2006 when Tourillion became president and joined the board. By Sept 30th 2006 the share float increased to 16,589,481 and “As at November 29, 2022, the Corporation had 349,073,770 shares issued and outstanding, 24,769,600 warrants and 17,335,000 options.
The number of fully diluted shares is now 391,178,370.
“ Even more interesting is there was 68,790,576 Dec 31 2014 and then 110,544,431 Dec 31 2015
The entire QRR contract was for 8.3 million for a 200mt unit Somehow the float increased between 240 million to 270 million and the machine is only going to be 1/4 the size of the contract and years behind with no penalties to PYR ..Best interest?
.." It was based on the successful results of this testing that an $8.3MM contract was signed with HPQ to design, fabricate, assemble, commission and test a 200 metric tonne (MT) per year PUREVAP™ pilot system to produce silicon metal directly from quartz"I also believe the taxpayer was covering half BUT not sure,
But also interesting is that despite not generating on penny in Revenue since 2007 As of May 2022 Tourilliion now has over 8.6 million shares and 4.6 million warrants remaining . His salary for 2021 was 268 K with options etc reported as total compensation of 971 K. Not a bad year for generating NO REVENUE since first hired . Gee its not like he was paid a million...
Of course that is nothing compared to Pascalis 2021 of $6,954,661 or $7,328,103 shares and salary depending which page of the management information circular but I digress
But wait that was part time salary as Tourillion picks up 35K from Beaunce ..wow over a million a year and ZERO revenue. Of course prior to Afri-can Marine delisting in 2015 he was being paid by them too... and guess the Revenue during his 14 or 15 years there... ..link below and win a prize ,,
Thats just Tourillion , add the rest of the show
So now 40 million dollars for the machine and no bid contract of course but that doesnt include the millions in operating wages "new IP " and other "surprises" etc . Say 5 million a year losses .. so they need 60 million so based on todays shares you are at 250 million more shares but you are dreaming based on what it took to get the QRR to this state. 8.3 million contract cost 250 million share dilution and still not producing years late . Oh yeah gold and quartz gone too.
IMHO you are staring at between 650 and 1 billion shares total float just to get QRR4 up and running.
But wait that doesnt include facilities and staff and look you have to buy quartz now too...
May 2022 Management Info Circular... read and then look at your shares.. Afri-can Marine Minerals ..you can start in 2001 and look for Revenue. ITSUP2ME wrote: "each reactor capable of producing 2,500 MT of high purity silicon per year, at a build cost to HPQ of at least $20 million each, would be required"
Between the two companies shareholders will be on the hook...wait and see...