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Message: Re: Revised payment agreement

Feb 27, 2020 05:21AM

Has PyroGenesis received any payments yet on the Drosrite International Saudi contract? DI's press release of Feb 5/20 stated they expected to receive a payment in the next several days, that would provide them with cash flow, and that was over a month ago. 

DI also stated on Feb 5/20 work is progressing on the contract per the schedule. The switch from the $6.4mm downpayment to the L/C was stated to de risk the payments and I'm wondering if PYR is incurring expenses up front, or otherwise exposed to liabilities related to the contract, that could be at risk if for any reason payments aren't received as expected. 

 

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