RE:RE:Drosrite Int'l /Radian's paymentThe update below was included in the year-end financial statements. That's an update and the much needed result that i am looking forward to. But keeping in mind that the previous updates and some specific actions did not happen as expected, why would someone be banking on this one to pan out? Month and a half to find out. However, you seem to claim that they have already started receiving some payments. Would like to know how you know that because you seem concerned about misleading people.
"The Company has remained in continuous discussions with Radian Oil and Gas Services Company regarding the outstanding receivable of approximately US$8.0 million under the Company’s existing $25 million+ Drosrite™ contract. As previously announced, PyroGenesis agreed to a strategic extension of the payment plan, by the customer and its end-customer, geared to better align the pressures on the end-user’s operating cash flows created by increased business opportunities.
These discussions have been positive, both in regard to the ongoing payment plan, and in regard to a potential new order of additional Drosrite™ systems, as the client’s cash flow situation and their new business opportunities move closer to resolution.
The Company now expects payment of this receivable to be received in full within Q2 2024."
kjs4381 wrote: You know full well that there was an update to those statements. If you're going to post, please make sure you post the truth.
The update stated that PyroGenesis was consulted and agreed to a revised payment schedule to better align with the end user. This was PyroGenesis creating some good will with a customer who in all likelihood will be a major player in PyroGenesis success. STOP MISLEADING PEOPLE.