Hi moi,

Think about ArcByt being a young TESLA. I think this is how you should envision it. And they have the money. It is not the number of employees that count here, but the angel investors that are backing ArcByt. It is a startup from the Valley with huge backing from agressive people that are brillants, innovatives and successfuls. There is a well thought 'green' concept around ArcByt, not just a disruptive plasma boring machine.

And I did not read that the Boring co. paid $3.6 million to have exclusivity on PYR flares. That money relates to the work previously done and the special tunelling torch. In that deal or those deals, there is a mutual exclusivity agreement. I view this as a win-win agreement. One does not possess the plasma torch expertise, the other one as no tunelling expertise (and no previous business interest in the domain). I'll say that for the Boring co, the (PyroGenesis) plasma expertise is vital. At this stage, the agreement is almost a co-entreprise. Not in the financial part, but in the technology department. Depending of the growth pace of each other, business successes for Pyro (financial growth) and plasma boring machine progress, I can envision PyroGenesis taking a part of ArcByt by injecting cash in the company. Let's say in a year or two, Pyro has grown to our expectation and the plasma boring co still need cash to push its venture.

Best regards,

TomCam