Chief,
I have been trying to think of a company that shares many similarities to PYNG, for purposes of comparison, and to address the criticism that this company is overvalued. I believe I have an interesting one, and invite comment.
The company is World Heart Corporation, listed on NASDAQ. They make a life saving device for Cardiac patients. Check out their website at www.worldheart.com for all the particulars, and I am sure you will see that it is a good place to start for comparison.(This will save me repeating all info here)
World Heart has 10,150,000 shares outstanding, trading at USD 4.125 per share. There are an additional 7.4 million shares in escrow. Market cap in CDN would be about 58.5 million. In 1997, they showed a net loss of .97 cents per share on no revenues, R and D expenditures were .71 cents per share.
Anyway, they are going to production of prototypes for pre-clinical testing over the next 2 years. They have exclusive rights to their technology for 25 years. You will note that there are 2 heavy hitters on board. Michael Cowpland (COREL and Co founder of Mitel)is a director and Rod Bryden (founder of SHL Systemhouse and owner of the Ottawa Senators NHL franchise)is an officer.
Developmentally, they are behind PYNG as far as revenue expectation in the near term.
This is an interesting comparison, which invites comment.
To those short on PYNG, do your homework before you pepper me with ignorant questions. |
