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Gold/Mining/Energy : PYNG Technologies

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To: Mike who wrote (896)	3/15/1998 9:23:00 PM
From: Kevin Garnier	Read Replies (2) of 8117

Hi everyone! I have taken the time to review some information that I had filed away on PYNG. It might be of interest to some of you and fill the gap while we wait in anticipation of, hopefully, the GOOD things to come. It is worthy to note that medical companies trade at multiples of 30-50 and even higher. In order to recover the development costs, the markup on the product is extremely high. It is lucrative once the drug or device (in our case) is complete ... with profit margins of 60-95 percent. The F.A.S.T.1 will sell for approximately $70.00US ($98cdn) and is made for just over $14.00US ($20.00cdn). I am using an exchange rate of 1.4 for these figures. This would result in a profit margin of 80%. According to the information I have, the company was projecting earnings of $2.8 million (Cdn) in year 2. This translates into $0.34 EPS. Based on a multiple of 30-50, a share price of $10.20 to $17.00. Let's discount this today at 50% and we are looking at a price somewhere between $5.10 and $8.50. (We are sitting at $5.85) If we move on to year 2 with projected earnings of $9.3 million (Cdn) and EPS of $1.15 then our share price might fall somewhere between $34.50 and $57.50. Again, using the 50% discount each share would be valued at anywhere from $17.25 to $28.75. And finally for year 3, the projections indicate earnings of $21.4 million (Cdn). This translates into EPS of $1.94. Thus , at the discounted price of 50%, PYT could be valued anywhere from $29.10 and $48.50. Wouldn't that be dandy! I have been waiting two full years for this baby to be born. The time has arrived!!! All PYNG has to do now is grow. I believe that PYT shareholders will reap a great return on their holdings. It is rare to come across a medical company trading so low with a product about to be commercialized. Happy Investing! Kevin

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