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Gold/Mining/Energy : PYNG Technologies

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To: m. jacobs who wrote (421)	12/24/1997 11:11:00 AM
From: Coho	Read Replies (3) of 8117

Mr. Jacobs, in response to your comment, "With tax loss selling going on in this market we have simply taken advantage of the opportunity to do a private placement at this time" I have some concerns. The privileged insiders may have been able to "taken advantage" of the weak share price but it certainly is not advantageous for the rest of the shareholders! Many shareholders would love to pay sub dollar prices for their shares. How can doing a financing at this extremely low price be of any advantage to anyone except for you and the other insiders? A shrewder strategy would have been, promote the company to get the share price up before a financing. This would minimize dilution. A financing at this time would be an excellent opportunity to bring a brokerage house on side. Thus bringing new and desperately needed buyers into the company. This latest PP appears from the outside to be a little self-serving opportunism. Also, please tell me the company hasn't been tanking(selling) their own paper to do the deal. Just a little buying would have moved the stock up thereby eliminating your opportunity. I'd appreciate your explanation.

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