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Gold/Mining/Energy : PYNG Technologies

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To: Kevin Garnier who wrote (897)	3/15/1998 9:50:00 PM
From: the Chief	of 8117

Thank You Kevin Garnier. Now we have some "closer" to real numbers rather than my worse case numbers. They represent a more accurate projection and I thank you for that. A question Kevin Can I presume that the year 2 & 3 gross revenues were based on a manufacturing facility start-up done exclusivly(darn spell check) by Pyng? From what I can see from your numbers there is a large margin here. This opens Pyng to contracting the manufacturing to another company and still allowing for a great profit. Lastly, I was using a multiple of 20 as a worse case. But find that this company really doesn't fit any Index I am aware of. In Canada we have; Consumer Products with a multiple of 30 Industrial Products with a multiple of 20 Biotechnologies/Pharmaceuticals at 80 Because we Canucks treat our Bio/Pharma's (especially newbies) unfairly we tend to discount them drastically. ie. A Bio/Pharma in Canada in Stage One trials is market capped at about $10-25mm In the US a Bio/Pharma in Stage One trials is market cap $70-100mm Obviously Pyng's NASDAQ listing will raise its market cap and Profile. Lastly, the projected revenues for year two seem extremely low, is that because the projections was on their "existing manufacturing" facility. MOST IMPORTANTLY The pope goes to heaven and asks to read through all the different translations of the bible over the years. He starts with the most recent and works his way back through different versions and languages.When he gets to the original version.. he is reading and then he starts sobbing and saying over and over "no R no R". he continues to read and keeps sobbing.. no R. Finally God comes and asks him what is wrong .. and he says "The word was supposed to be CELEBRATE!!!!!! the Chief

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