Hi Peter, 

I am a long time shareholder of the company. Based on my long time observation, I find that your pattern of press releases are not quite consistent. For example. when you receive an order, you press release it. When you deliver and receive payment, your company issues another press release regarding delivery and receipt of payment. 

I have not seen any follow-up press release on the $1.8M sale of high-powered, one megawatt plasma torch with accessories to a major iron ore producer that took place in November 2020. Does that mean the product hasn't yet been delivered and payment has not been received? Or has the major iron ore producer been able to install it and test it in the actual iron palletization production environment? 

I find that your press releases are more like pie in the sky type of press releases to excite the investors without any follow-up updates. We are waiting for follow-up press releases on many of your prior press releases including but not limited: 

1) Whether the proposed acquisiton of AirScience Technologies has been closed

2) The LOI received from the exisitng client for three 10-ton Drosrite system. By the way, could you please explain to us why the existing client would opt for LOI rather than an actual purchase order? We would think that they have a very good idea and understanding of the product by now since they have been using the product already. Why is a Letter of Intent necessary? 

3) Above all, the potential $1B+ torch orders from Client A, B, C, etc. I know you've received an RFQ but how long will this client A, B and C drag on? When will you be able to disclose the acutal client names? I respect NDAs but this lack of transaparency for a long period of time doesn't really do anyone a favour but to erode the company's credibility. Above all, this gives the short sellers more ammunition to spread fear and misinformation. 

So far, it is very disappinting that you've been press-releasing things without any follow-up updates for a long period of time. What is your crieteria to decide whehter a certain development is worthy of press-release? Doesn't seem like there is a set of criteria you are using. Or perhaps things aren't really progressing worthy of any release. 

Last but not the least, could you please speak to the structure and the relationship between Pyrogesis and Drosrite Internaitonal (DI)? Should Drosrite Internaitonal be considered a separate entity and as such is it right that Pyrogenesis is reporting any sales and profits generated by DI as a Pyrogenesis' reported revenues and net income? 

I am posting these quesitons and thoughts in hopes to invite your clarity and perhaps dispel all the alleged misinformation spread by the short sellers such as Mariner Research once and for all. Peter, I hope that you speak to these questions that I am sure are in many other shareholders' minds on this Wednesday. 

Best regards, 

Stocksman