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Gold/Mining/Energy : PYNG Technologies
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To: Bernard Elbaum who wrote (4135)7/10/1999 1:33:00 PM
From: Paul Loucks  Read Replies (1) of 8117
 
"Nor do I think it reasonable to hold management accountable to firm sales goals at a stage when the extent of the initial market is very uncertain."

I disagree very strongly with this statement. Management is responsible for their sales results. Management has made these representations to the investors. Mr. Jacobs has provided what he called conservative estimates of 29,000 units sold in the first year. The continued lack of sales must be addressed.

LOR has asked for a significant commitment from Mr. Jacobs. I bought stock in Pyng assuming that sales volumes would be at these levels long ago. Mr. Jacobs should be comfortable in making this commitment, since this target is very close to his projection. If he isn't, then what changed in the last couple of months and why were we not informed of the set-back along the way.

I, for one, believe that Mr. Jacobs will set up to the plate and will meet this commitment. I look forward to seeing him make this commitment right here on SI.

Paul
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