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Pyrogenesis Canada Inc T.PYR

Alternate Symbol(s):  PYRGF

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

Comment by madeinhemloon Aug 07, 2024 7:32am
154 Views
Post# 36167116

RE:Question

RE:Question

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This reduction is primarily attributed to several key factors. The expected credit loss and bad debt experienced a substantial decrease of $5.2 million, primarily due to a $4.1 million payment received on a previously provisioned outstanding receivable. This payment led to a reversal of the previously recognized credit loss. Additionally, there was a decrease in the expenses following the settlement of legal proceedings involving Pyro Green-Gas and Gas RNG Systems Inc., which concluded favourably, with a $1.5 million payment. Professional fees were reduced by $0.3 million from the three-month period ended June 30, 2023, due to decreased reliance on external consultants, legal services, and other professional services. Other expenses showed a favorable variance of $0.5 million, driven by reductions in insurance expenses and marketing costs. Additionally, there was a favorable impact of $0.4 million due to changes in the foreign exchange charge on materials due to the variation of the U.S. dollar.

 
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