I do not think so.
They do not have the production facilities, they do not have the staff, they do not have the production management, more importantly, they do not have the money to get all these things started at this time. They were so low on cash that they issued new shares at .88 less than three months ago.
It does not mean that these things will not get done. I believe that Pyng has something of great value here. However, let us be realistic: it will take time. It will also take money which can be raised by issuing more shares.
What Pyng needs right now is time to digest the developments of the last few months and let management do their job of managing the company for the future, not answering every telephone call from nervous shareholders because the stock, God forbid, went down ten cents!
The stock has gone up much too fast and simply cannot justify higher levels at this point in time. It is extremely hard to justify $ 4.50 when these same shares were trading around $ 1.00 just three months ago. The developments of the last three months do not justify a 400% increase in the value of the company. Once again, I am not saying that it is a bad investment, far from it. But, at these levels, new shareholders will need patience.
First one learns to crawl, then walk and then run!
And I will put my money where my mouth is. I still expect to repurchase Pyng later on this month or early next, once it reaches the $ 3.00 level.
Have a very nice day all.
Pierre |
