PyroGenesis Inc T.PYR

Fifty Percent ago

[tamaracktop]

Post by tamaracktopon Dec 07, 2022 10:21pm

236 Views 

Post# 35158050

If you didn't think today's news was fluff, the market did.

People have short memories.

Remember this SEC Notice??...

It  may be an irrelevant artifact, because I believe it was in 2017, but I'm not entirely sure if it's irrelevant or not.

You decide:


Summary of Material Change



This material change report is filed to clarify and provide additional disclosure on matters that have previously been disclosed by the Company and update the Company’s continuous disclosure documents. See item 5 below.



5. Full Description of Material Change



On October 9, 2019, PyroGenesis announced that the business line behind a $20 million contract, plus subsequent years revenue, is DROSRITE, and the client is Drosrite International LLC (“Drosrite International”), a US-based private company.

However,.... Drosrite International is, on an accounting basis, a subsidiary of the Company and not a client, as, under applicable accounting standards, the Company is considered to effectively control Drosrite International.

The sole director, officer and shareholder of Drosrite International is Alex Pascali, an employee of the Company and the son of P. Peter Pascali, Chief Executive Officer of the Company.

[filoux004]

Any thoughts why this subsidiary was created in the first place. Any input appreciated.  Glta 

[BCONTVentures]

top, DROSRITE International was established to allow for payment from Saudi Arabia to PyroGenesis during the Canada/Saudi Arabia political "spat" that occured during 2019/2020.  DROSRITE International forwards the money to PYR from Radian/Ma'aden.  See this picture that was tweeted from Ma'aden when the original DROSRITE contract was signed in 2019.  Pictured

[filoux004]

Thank you

[HARJAY]

Geez , how many times has this been discussed and clarified by  posters such as BC . Yet every once in a while one one the fudsters will bring it up as if its some new revelation. Really , top you either are trying way  to hard to throw shade at the co. and Peter any time you feel like it or you jst can't comprehend what as been explained so many times.   

[dalesio_98]

HARJAY, What is your opinion, longs vs bears re receiving partial payment from Radian prior to June 27, 2024 AGM (virtual)? Must be something to announce prior to or on the 27th? Good luck to All! 

[dalesio_98]

Let's not forget 10% interest gets tacked on the PPP $1 million short term loan! Good luck to All! Go Oilers Go!

[tamaracktop]

Panthers vs Oilers will be a tremendous series.

[dalesio_98]

Indeed, less than 3 minutes left. Go Oilers Go! On 10 shots thus far. Good luck to All!

[dalesio_98]

Oilers, Fantastic!! Panthers vs Oilers!!

[HARJAY]

I don't have an opinion  i'm not clairvoint and can't see into the future. Only time will tell wht happens.  maybe you should consult with the AMF on this question , you seem to be very close to that Org.

[dalesio_98]

HARJAY, Your first sentence was fine, you didn't provide an opinion. Second sentence, not so much, deflected to the AMF. Why, a reason only you know. Shareholders expect the securities watchdog(s) to uphold their mandate and hold alleged fraudsters, alleged forgers, alleged liars, etc accountable. Good luck to All!

[tamaracktop]

I'm well aware why Drosrite was created. The point is that the SEC stepped in when Pyrogenesis announced their biggest contract ever, before and since, with a company called "Drosrite" without DISCLOSING that Drosrite is "effectively a subsidiary of PyroGenesis", and is owned by P3's son. Does that look like an arm's length transaction to you? The biggest

[cashbag101]

the 'spat'  https://www.reuters.com/world/canada-saudi-arabia-appoint-new-ambassadors-end-2018-dispute-2023-05-24/#:~:text=OTTAWA%2C%20May%2024%20(Reuters),that%20damaged%20relations%20and%20trade.