Re: 2022 Dross Business Line Progress
posted on
Jan 15, 2023 02:42PM
Being commercialized in multiple applications around the world including plasma torches, Industrial 3D printing powders, aluminum & zinc dross recovery, waste management and defence - 4 US aircraft carriers
So 2 months from now powder will flow after over 7 years of "coming soon"
The "making powder again" came Oct 26 2015 and subsequently the july 7 2014 Asian contract for 10 towers worth 12.5 million ended .
Pyrogenesis signed a deal with Aubert and Duval 3 years ago for EU distribution . Sales ..crickets
Signed a deal for 10 TONNES MINIMUM for Asia in 2018 ...Sales.. Crickets
October 16 th, 2018 PyroGenesis Announces Completion of its Cutting-Edge Additive Manufacturing Metal Powder Production Facility. " Of note, the facility is ISO 9001:2015 certified and is on track to be AS9100D (Aviation, Space, and Defense) certified by year-end. Upon receipt, PyroGenesis will then pursue ISO 13485 (Medical devices) .. .... Sales ..crickets
2017 announced 9 NDA s and Phase up ..Sales Crickets
What is stretches credulity is that out of all the companies who could buy powder in the Aviation, Medical ,Automotive and manufacturing sectors it appears they have sold nothing and all the "supporters" are grasping at one approval with one "secret" company that has been ongoing for a long period,( could be one of the 2017 NDA's) and comes with ZERO committment if it even is approved. Meanwhile competitors such as AP&C are selling 1000's of tons per year.
Amazingly with over 7 years of claiming of being the "highest quality and cheapest powder" that is in massive demand they have sold nothing and cant explain why and wont answer any questions.
IMHO they have serious patent issues which they are not disclosing despite written inquiries and requirement to do so. The failure to respond to the patent questions I posted on here and sent to IR on Dec 3 with a simple yes or no should raise flags " Dec 3rd questions to CEO
If there is not a patent issue and no legal issue for the failure to sell powder then I believe the management , possibly from CEO down should resign or be terminated as they would at any company , especially publically traded . I would think directors along with them. In addition a 3rd party review of the agreements, press releases and contracts should be performed.
Sales departments that cant sell "the cheapest and highest quality " powder , production depts that dont produce, Accounts Receivable that cant collect receivables, IR that wont respond to questions or disclose cancelled agreements and apparently House Counsel that cant, or couldnt negotiate binding contracts .
It appears that the only parts of this company that do anything is IR printing news releases and the Compensation Committee.
As per Drosrite. June 25 2018 "Combined with the increased market penetration we now have with the MiniDROSRITE™ design, we estimate the market for DROSRITE™ to be in the thousands of units and not the hundreds of units we originally estimate"
Hundreds and now Thousands of units ..7 delivered ...zero mini . 1000's 7 do you see a difference? Even if paid in full and all 14 delivered... 1000's ...14 . Still happy with the Drosrite performance ?
Thet could always use the 4 unpaid (possibly 5 ?) for the tolling agreements in Middle east and Asia which is " is the ultimate recurring revenue stream for our DROSRITE™ business line " July 26 2018
Of course I wont mention the contracts with Drosrite International later turned out to be an indemnified Delaware shell operated by the CEO's son and not owned by Pyrogenesis directly or its retail shareholders. As Drosrite is not a weapon and US relations with Saudi are worse than Canada's the continued use of Drosrite International makes no IMHO.
I expect this will be deleted and the squad will defend the CEO or company not answering the questions "are not showing respect"