Pyng's executive notes suggests only by possible hidden implication that there may be good news down the line. But it offers no concrete substantiation whatsoever to support that view. We are told only that $25,000/mo revenue is in line or even better than management's revised business plan.
We're not told is if there are any concrete reasons to firmly expect sales to increase sharply after the next 3 or 6 months. We know nothing about Pyng's order book, or why the orders in it might grow in number shortly down the line.
Are there training programs in progress that should yield orders once the training period is completed? Are there major state approvals pending? Are the distributors going through Pyng's list of interested contacts and beginning to achieve positive sales results? Are there near term prospects for military orders, or for international distribution?
I am hoping that the answers to at least some of these questions are "yes", and that management is saying nothing now because it wants to avoid making forward-looking statements that could turn out to be misleading. But I also am fearful that the answer may be "no" to all the questions, and that management simply hopes the market will turn to the FAST1 as more customers gain familiarity with the product, without any concrete indication of whether this process will unfold faster than Pyng's cash unravels.
The stock is sinking like a stone because Pyng is losing money, and has only meager cash resources. Unless Pyng can make clear that it has not only a great product, but solid, well-founded expectations of near term sales growth or access to additional finance on reasonable terms, the market is going to treat the company as a candidate for bankruptcy, if not imminently, then in 2-3 years.
With the stock this low and sinking, it will be very difficult for Pyng to raise cash to continue operations without significant dilution.
I would like to be optimistic. But I have heard nothing from Pyng that offers any substantial basis for optimism. |
