Dividendspay wrote: BCONTVentures wrote: Some great points from sizzlingbeef from Agoracom on Q3: Evaluation of Q3 Earnings of R&D Company by R&D metrics; not MegaCap metrics - as some incorrectly apply
Revenues as expected, nothing impressive just yet. However, if we look at this R&D company with R&D metrics in mind, there is plenty jam packed into the outlook section detailing progress. Serious progress seems to be made on engaging with large clients, they just all move slow as snails. Replacing oil legacy tech is no quick feat.
- New mention of a large torch contract for unmentioned client in a different industry. Potentially manifesting soon with a client who has a need for many torches, slated for Q1 2024 if it manifests.
- Fumed silica reactor slated for Q2 2024 plant commission.
- Saudi still owes lots of money to PYR, but the company insists they allowed the client a modified payment schedule that is for the benefit of both the company and the client
- Aerospace Powder qualifications are ongoing and expected to end soon. They now include coarse powder as well
- Client B (Rio Tinto) finished repairing the damage caused by rainstorms and is scheduled to wrap up Site Acceptance Testing by the end of year, optimistically.
- New mention of Client A (Vale) progress: Client A informed the company they will continue to trial plasma at their own pace, still interested. Probably waiting for Rio Tinto to do all the hard work of validating the tech first
- Company is confident the truth will come to light regarding AMF proceedings, and at the most exposes the company to potential $550k fine, in a maximum risk scenario.
- Not including previously mentioned projects does not mean they are at risk, but there is nothing materially new to discuss so they were ommited.
Not bad for R&D progress. Research always takes more time than you anticipate. COVID didnt help. Looks like they are heading the right way.
https://agoracom.com/ir/PyroGenesisCanada/forums/discussion/topics/795797-evaluation-of-q3-earnings-of-r-d-company-by-r-d-metrics-not-megacap-metrics-as-some-incorrectly-apply/messages/2398144
Looking forward vs the current financials and the inability to actualize the sales with a growing =unpaid accounts receive able IMO- here are the recent finacials in case you missed it
Revenue was 3,685,725 but
Net loss from operations
7,171,171
AndRevenue was5,657,783 same quarter a year ago and losses worsened compared Net loss from operations 2,088,686
The cash remaining is 873,498, and the cash
Vs 9 months ago 2,364,861
Not a great story overall, but they are hanging in there
Can they survive and get the accounts receivable in or will they hit a liquidity crunch?
Its a gamble
In the companies words:
"The Company has incurred, in the last years, operating losses and negative cash flows from operations, and as a result, the Company has an accumulated deficit of $112,100,495 as at September 30, 2023, ($93,384,858 as at December 31, 2022). Furthermore, there have been unexpected delays in the collection of certain accounts receivable from contracts closed in a prior year. This has resulted in a shortfall in cash flows from operating activities that would be used in fundin g the Company’s operations.
As at September 30, 2023, the Company has working capital deficiency of $6,433,575 ($1,650,709 as at December 31, 2022) including cash of $873,498 ($3,445,649 as at December 31, 2022). The working capital is net of an allowance for credit losses amounting to $9,073,254 ($5,023,283 as at December 31, 2022)"
Source sedar.com accessed nov 10, 2023