dear Chris,
Yes I did announce 250,00 as enough but I was not aware of two rules that apply to private placement.
I.E if management puts up 250,00,00 in any one year that is acceptable.
If any one individual puts up over 97,000.00 another rule applies.
The fact is that several management people wanted to put up the 100,000.00.
As I have said before, my job is to see that this product goes to market, which it will in 1998, and if it takes 250,000.00 or 300,000.00 then I have covered the bases.
Look at the positives and realize that most of all the money that has been raised on this great product has not been from the outside but the inside and if that does not tell you that those that believe are fuly behind it then nothing will.
I believe , like some do, that Pyng will show it's full potential in 1998 simply because all of the very difficult problems that can be associated with a medical device we have achieved, YES, it takes time, and I am fully aware of the frustration in taking a product to market in the medical world, however we should remind ourselves of the potential not just for profit, but to save lives, for this would truly be a success.
Yours truly, Michael W. Jacobs, President |
