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Gold/Mining/Energy : PYNG Technologies

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To: T Lamos who wrote (1031)	3/17/1998 12:28:00 PM
From: Pierre J. LeBel	of 8117

Thank you Tom. Why did I come to the conclusion that PYT was overpriced at $ 6.50 this morning? From Mr Jacobs! It is less than three months ago (Dec 23, 1997) when Mr Jacobs and other insiders arranged for themselves a private placement of 426,136 shares for $ 375,000 ( 0.88 per share with free warrants attached)! One must assume that $ 0.88 was then a fair price. If $ 0.88 was fair for Mr Jacobs three months ago, I had no problem paying $ 1.35 at the beginning of February when I got in following extensive research including analysis of the September 30th 1997 financial statements; however $ 6.50 is a bit too much for me today. Also, I see nothing wrong taking a 360% profit in six weeks. As stated previously, I will be back because I believe in this company. $ 3.00 at this time sounds just right to me. Good Luck and have a very nice day. Pierre

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