Post by
MrForthright on Aug 19, 2023 9:33pm
PYR High Cash Burn During The Weekend
Do you realize that between Friday night when the PYR office closed and the time it opens on Monday morning it will have burned $100,000 in cash (based on the cash burn from operations in Q2 2023)? I hope PYR raised significant cash by selling HPQ during their recent unexplained move up. It would have been super easy to raise $1.5 million to cover the August cash burn. No brainer.
Comment by
tamaracktop on Aug 19, 2023 10:20pm
"It would have been super easy to raise $1.5 million to cover the August cash burn. No brainer." Did you take a hit to the head? The VWAP during the move from $0.205 to the high at $0.44 was $.32. It wouldn't have been easy to sell 4.7 million shares of HPQ at all.
Comment by
tamaracktop on Aug 19, 2023 10:25pm
VWAP stands for "volume-weighted average price."
Comment by
MrForthright on Aug 19, 2023 10:36pm
Since July 31, HPQ has traded $3,882,033 of stock. PYR probably was 25% to 30% of the sell side. Hence my comment, super easy to raise $1.5 million to cover the august burn.
Comment by
MrForthright on Aug 19, 2023 10:37pm
Not sure what they do for September. Roll the dice bulls!!