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PyroGenesis Inc. Management Reports 2020
46867_rns_2020-09-02_482b11b5-b332-4661-a0fa-37926efecac9.pdf
Management Reports
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Montréal, Wednesday September 2nd, 2020
Amended MD&A - Filed November 27th, 2019 Object:
It has come to our attention of that on November 27th, 2019, PyroGenesis Canada Inc. filed an Amended MD&A, without concurrently filing a notice detailing the nature of the changes incorporated therein. The present is intended to rectify this oversight.
The Amended MD&A was filed due to clerical errors identified in the original filing. The original MD&A was revised to replace, on pages 9 and 11, the backlog at November 27, 2019 from \$6.8MM to \$29.5MM.
Original MD&A:
Page 9
"Revenue generated from active projects does not yet produce sufficient positive cash flow to fund operations. However, based on current backlog of \$6.8MM at November 27, 2019, together with the pipeline of prospective new projects, cash flow from operations are expected to become positive in the very near future."
Page 11
"Management expects that the investments currently being made in accelerating projects under development for various clients, together with executing on the \$6.8MM backlog at November 27, 2019, which is primarily related to the Company's successful diversification into niche markets of the additive manufacturing (including 3D printing), and metals & mining industries, will continue to improve the Company's cash position."
Amended MD&A:
Page 9
"Revenue generated from active projects does not yet produce sufficient positive cash flow to fund operations. However, based on current backlog of \$29.5MM at November 27, 2019, together with the pipeline of prospective new projects, cash flow from operations are expected to become positive in the very near future."
Page 11
"Management expects that the investments currently being made in accelerating projects under development for various clients, together with executing on the \$29.5MM backlog at November 27, 2019, which is primarily related to the Company's successful diversification into niche markets of the additive manufacturing (including 3D printing), and metals & mining industries, will continue to improve the Company's cash position."
Should you have any questions or concerns, please communicate with the undersigned.
Me Sara-Catherine I [email protected] \ 514-937-0002 # 227