I'm curious to know what kind of valuation of the company in your mind would justify a dividend payout? Currently the P/E valuation is in the range of 80. Would that kind of valuation warrant a divident payout at this time in your estimation?

For me it would not. I would prefer the company continue to squirrel revenue so as to better position whichever verticle/s it deems worthy of breaking out to garner larger (transformative) equity for the company and it's shareholders. 

This is a small cap in it's infancy with relation to revenue earnings.. 
Just my opinion, but I think building a healthy war chest to springboard it's business plan seems to be more prudent at this stage of the game. 

It's not to say sometime in the future a dividend isn't worth looking at..

Having said all that, I like your sentiment on catching the manipulators.. 
A strategy of catching the "naked shorters" is what I'd be most interested in. (If it is an issue with Pyo) 

If there is a large "failure to deliver" in this equity, a dividend is one of the tools that can catch these *&%$ks in the act.. Then "the house a lookin' like a rummage sale" share acqusition scramble begins. 

I was involved with a company that threatened to declare a dividend and the SEC threatened to prosecute the company for manipulation.. In my opinion it's because the SEC knew there was a naked short in the billions of that company. (CMKX) 

The practice continues in the market today and you can thank the SEC and the Resolution Trust Corporation. (Division of the Federal Reserve).

I hadn't suspsected our little company may be a victim until that day on the Canadian holiday when a SIGNIFICANT percentage of the tradable float was traded. When I saw the share price increase I assumed it was a major news announcement.. I then saw the trading volume and I acquired that heavy pit in my stomach that was there back in the mid 2000's with CMKX. 

Then I watched for certain posters to explain it away.. Those people went immediately on my radar.

So.. The transfer agent who keeps the ledger ultimately knows if there is a potential for a naked short in a company.. The OBO and NOBO lists are key elements in this equation as well..

I would implore those not familiar with the practice to brush up on it.. 

I am not claiming there IS a naked short in PyroGenesis, but I think we should keep a weary eye open on that possibility and the players that come here who we may THINK are benevolent but may POTENTIALLY be nefarious. 

What I do know is: naked shorting is still alive and well in North America. 

The SEC said the practice DIDN'T exist until an August Sunday back in 2008 when they declaired 7 of the major investment houses (Lehmen Brothers, et al) could not be naked shorted. The infamous crash happened the next day..

The irony? Those houses had been practicing Naked Shorting for decades.. It was a sickening feeling as I had been one of 40K investors who had obtain their stock certificates so as to prove a naked short in CMKX. I recall some of the excuses people were posting of the brokerage firms explanations as to why some people could not obtain their certificates. They were akin to "The dog ate my homework".

The system is still built to favor the elite.. Never forget that...

Here is an expose on Naked Shorting by Bloomberg oddly enough that one an Emmy.. I am doing it in 3 links as the whole clip segments do not have great video quality.. 
Educate and Govern thyself...

Total run time for all is just over 20 minutes..

Part 1  https://www.youtube.com/watch?v=FzEhOly-QvQ

Part 2  https://www.youtube.com/watch?v=HjkbChSBc0A

Part 3  https://www.youtube.com/watch?v=2jDu2jGBiw0