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Gold/Mining/Energy : PYNG Technologies
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To: Jack Rayfield who wrote (7434)7/24/2005 5:09:16 AM
From: naturalperson  Read Replies (3) of 8117
 
I would think that PYNG's goal here would be to limit profits at this point in order to limit taxes. How much deferred R&D does PYNG still have to write-off?
If you notice on the Expenses of the Financials an Amortization of Deferred R&D and an Amortization of - other. PYNG still has over $2,000,000 of Amortized R&D meaning it will bring this in as an expense in the future and this amount varies depending on the revenue and thus it is used to to increase the operations Expenses and thus lower the Profit to actually show a loss or another way is to say it increases the loss for the period, and all of this is fine because what it means is that the revenue generated by PYNG stays with the company and increases the cash flow of the company instead of going to the government. The number that all of us should be looking at and comparing is the EBITDA number, earnings before Interest, Taxes, Depreciation and Amortization. This is the number that all companies look at for mergers and acquisitions because this is the number that truly tells how profitable the company is, most companies are valued at about 5.5 times their EBITDA and anything above that is goodwill, thus it takes a sophisticated accounting mind to back out all the interest, depreciation and amortization off the financial statements and to recalculate the earnings. So I will not be surprised in the least if PYNG shows a loss going forward for at least another two years. Now, I am not an expert at this so if someone can enlighten me please do.
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