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Gold/Mining/Energy : PYNG Technologies
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To: Garry R. who wrote (4260)8/4/1999 5:38:00 PM
From: Jack Rayfield   of 8117
 
Garry R.,

I think you have made a great point. You have my complete attention. I like to think that am not just a "mud slinger". I started out as being a very positive poster and migrated to a truthful one then I assume to a negative truthful one.
I am all for doing something proactive to produce a change
in this company.

Your suggestions are good ones for the typical
widely held company. In most companys the shareholders do have
some say in the direction of the company. But Pyng is essentially
a "closely held company" by virtue of the fact that Mr. Jacobs controls at least 43% of the stock. With another large chunk controlled by the BOD that has shown no interest in representing the voice of the average shareholder. The combination of these two holdings make any shareholder action impossible. And the management style of the company reflects the fact that Mr. Jacobs has "total control".

A petition might make us feel better but would not be binding in anyway. I am all for a shareholders meeting to discuss the current state of affairs and would volunteer to set up a time and Chat room for it on Exite.com so everyone could be heard. Let me know if there is any interest.

I really would prefer to do something positive. I just do not know what that would be please give me your ideas.
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