Pyrogenesis Canada Inc T.PYR

Alternate Symbol(s): PYRGF

Industrials Technology

PyroGenesis Canada Inc. is a Canada-based high-tech company. The Company is engaged in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases. It offers patented and advanced plasma technologies that are used in four markets: iron ore palletization, aluminum, waste management, and additive manufacturing. Its products and services include Plasma Atomized Metal Powders, Aluminum and Zinc Dross Recovery, waste management, plasma torches, and Innovation/Custom Process Development. It also operates PUREVAP NSiR, which is a proprietary process that can use different purities of silicon as feedstock to make a range of spherical silicon nano- and micro-powders and wires, for use across various applications. Its products and services are commercialized to customers operating in a range of industries, including the defense, metallurgical, mining, advanced materials, oil & gas, and environmental industries.

TSX:PYR - Post by User

Pyrogenesis Canada Inc > Pretty Scary Cash Burn.

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Post by MrForthrighton Aug 14, 2023 5:54pm

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Post# 35587872

Pretty Scary Cash Burn.

I have had time to review the June 30 financial statements of PYR. They paint a pretty bleak picture. Let's start with the cash position. PYR had cash of $1,887,021 at the beginning of the quarter (April 1st) and ended the quarter (June 30) with $829,583. That is in spite of 1- raising $5 million in equity, 2- selling $332,000 worth of $HPQ shares and 3- receiving $153,000 in options exercise. That is a total of $5,485,000 in the quarter. Still the cash in the quarter went down by $1,057,438. That is use of cash of $4,427,562 in the quarter, or $1,474,884 per month (or $49,195 per day).

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