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Gold/Mining/Energy : PYNG Technologies
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To: Michael Pogor who wrote (461)1/31/1998 12:01:00 PM
From: Pierre J. LeBel  Read Replies (1) of 8117
 
Actually Michael, the options seemed to have been issued at prices above market price. The press release indicates that options were granted on December 17th, 1997 (six weeks ago) when the stock was trading under $ 1.20 (look at the chart to confirm), putting a reasonable 10%+ premium on the options.

My concern may have to do with the timing of the press release. Why should management (paid by shareholders) wait six weeks to advise the shareholders, the folks who actually own the company?

Have a very nice day.

Pierre
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