Hello all,

Not that it matters much now because this board is a giant cesspool...

I finally decided to make an account here just to air out my grievances and after this most recent "conference call", this is likely the beginning of the end for Pyrogenesis.  This conference call was quite literally just Steve and the CFO reading the news release with no added insight.  Simply pathetic.  With everything that has happened the past three years and the subsequent de-list coupled with Rio's update, I felt the need to make this post.

I was lucky enough to buy all my shares around 2018 and am fortunately not too far in the red.  I feel terrible for people who bought in the last 2-3 years who were led to believe things were progressing by management and certain online posters such as BCONTVentures and sizzlingbeef (to name a few).  I'm convinced these people are either paid by the company or just in complete denial of their poor investment.  Either way, I feel bad for them.

I feel bad because the company, and most importantly the CEO, led them and shareholders to believe that things were progressing for the company, which they simply were not.

Please don't take this as me being in agreement with others on here like Whodat780 or Dalesio98 as I think they're much worse than those above posters.  It just sucks that they are unfortunately right about almost everything that has happened.

Below I've compiled just a few of MANY instances in the past 4 years to make me wonder just WTF has been going on behind the scenes, these are just the ones I could think of off the top of my head:

- Peter calling out an investment analyst in 2020 saying multiple "sizeable" torch orders were coming in 6 months (it's been over 3 years).

- Peter selling "burn the shorts" swag when no shorts were actually burned, just shareholders.

- Peter slowly selling a trust for "family/diversification reasons" only to reload it a year later with new shares.  Couple this with him selling for months (years) below the Nasdaq minimum even though he says he's not in control of the trust.

- Peter feeling the need to post on Agoracom Dec 27th, "the Nasdaq Day", about roasting chestnuts when there was absolutely nothing going on with the company.  Complete arrogance.

- Buying back over $2M worth of shares in 2021 at $4-6 a share when there was ZERO steady revenue (as they admit now during every conference call).

- 2021: reporting $65M in realistic pipeline revenue including a potential $40M dross joint venture (no mention of that today on the call)

- The glaring AR issue with a billion dollar aluminum company refusing to pay $8M.  Meanwhile we've done two private placements in 2023.  Another slap to the face to shareholders.

- Zero new dross systems sold other than the contract we can't get paid for.  Apparently the addressable market isn't as big as Peter thought

- Powder qualification delayed by over a year.  If our powders are so good, why are we not signing other contracts? Why are other clients not lining up?

- Power contract announced with fufillment by Q3 2023 and yet no powder revenue has been collected

- No mention of iron ore Client C in the conference call or results today.  Add that to the multiple clients D,E,F etc that Peter says he didn't even need to mention

- What Peter and the Company have touted as a BILLION dollar market with recurring revenue from Clients A,B,C has now turned into only 1 client still in testing phase with a max contract of only $130M that will likely be spread out over 10s of years.

These points and many, many,....many more are the reasons why the Company can simply no longer be trusted.  They have eroded so much shareholder value and the cherry on top is Peter now being the target of the largest monetary investigation being carried out by the AMF. 

I know it won't likely matter to him but I truly hope he loses this court battle and has to hand over the $15M or so, just so he can somewhat feel the pain that he's caused so many investors who believed in this company.

Rant done.

Sincerely, a shareholder who got conned