GrahamB wrote: To those who think a contract equals certain revenue and profit, let's refer to the facts.
In PyroGenesis' first-quarter 2023 financial report, the company noted a write-off related to accounts receivable from its Italian subsidiary. This write-off contributed to an overall increase in credit loss and impacted the company's quarterly financials by reflecting this adjustment in anticipated revenue and receivables.
Of course, you know you can read the definition of write offs in their financials as well, but basically what they said was:
“The expected credit loss & bad debt increased to $1.4 million is Q1 2023, and is due to an increase in the allowance for expected credit loss increase of .8 million and to the write-off of the accounts receivable related to the Company’s Italian subsidiary subsequent to both parties agreeing on the final acceptance of the contract prior to final completion.
“
https://www.globenewswire.com/news-release/2023/05/16/2669502/0/en/PyroGenesis-Announces-2023-First-Quarter-Results.html
The other part of this is what I posted earlier, which is that many of these projects are not expected to be profitable so even if the revenue is 100 or 200 million which it clearly is not, if you’re spending that amount or more you’re still not profitable.
Or As the Globe and Mail article says succinctly:
“PyroGenesis also says “the operations of the company continue as usual.” Perhaps shareholders should neither take comfort nor be reassured by that. The company has never made an operating profit in a dozen years as a public company, and the shares are down 93 per cent from the February, 2021, highs. The big winner at PyroGenesis, instead, seems to be the Pascali family. At least, for now.”
https://www.theglobeandmail.com/business/commentary/article-pyrogenesis-quebec-regulator-fraud-allegations/?cmpid=rss
but fwiw, not to invest for fun, education, and laughs
Cheers