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Gold/Mining/Energy : PYNG Technologies

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To: AriKirA who wrote (4173)	7/14/1999 2:38:00 PM
From: Bernard Elbaum	Read Replies (1) of 8117

I, for one, remain bullish on Pyng and would be buying more shares at current prices if I did already feel fully exposed. My reasoning is as follows. Given the reception to date, there is little reason to doubt that the FAST1 will eventually command at the very least a modest niche market that will suffice to make it profitable and worth a healthy multiple of today's stock price. The main risk concerns the time to get there and interim losses. That risk is reduced by Pyng's low-cost operation and the prospect of both sizable military orders and wide civilian interest in the product. See Wrayfield's projections in an earlier post on the prospective initial market. The record certainly suggests that Pyng management has been over-optimistic in past projections, and done a sloppy job with respect to correcting and explaining its errors to investors. But the tenor of SI posts by investors, with due respect to LOR's sense of humor, is often insulting to management, and not calculated to promote a healthy dialogue with executives who are spending most of their time running the company for no pay because of their belief in its promise.

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