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Gold/Mining/Energy : PYNG Technologies
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To: naturalperson who wrote (7597)8/13/2005 4:44:43 PM
From: Jack Rayfield   of 8117
 
natural person your are right 74.88% is great Gross Margin but when Wages and Salaries increase by 100K it really offsets the effect. Once again we have been deceived by Mike Jacobs who may tell the technical truth but really knows he is misleading. This quarter should be a lesson to all of you new shareholders. How can C342K in Sales in April produce C137K in Net income yet C942K in Sales for the quarter produce C140K. Only at Pyng where Mike can not wait even a couple quarters to start getting his cut. He has not paid himself a salary for all these years which is admirable.

I thought he was smart enough to realize that taking his reward in stock appreciation would be better for him and everyone else but I guess he just could not wait for the stock to pop as it would have if Pyng had reported C300K in Net Income as Mikes PR in June would have lead us to believe.

We may see a swoon in the stock price just because Pyng shareholders have been mislead again. Although Pyng is still under valued C.015 times 4 is C.06 x 30 is C1.80 this is a simple fair value calulation. But this just goes to show us you can't make an assumption when you deal with Mike he will always surprise you with how his PR information can mislead.

I am very disappointed in this report to say the least the only good thing I can say is they reported pitiful cashflow but they did some clean up on the balance shee.

I think Mike should be man enough to come on and explain his deception. As the stock market investors are
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