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Gold/Mining/Energy : PYNG Technologies

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To: AH who wrote (3626)	4/10/1999 9:25:00 PM
From: Jack Rayfield	Read Replies (1) of 8117

AH: I think you are assuming that Pyng is on a calendar yearend. Pyng is on a fiscal year ending September 30. So if your interpretation of the news release is correct then Jacobs is saying that mass production will be up by July 1. Although, I do not think it is safe to make that assumption until Mr. Jacobs or Mr. Johnson clarifies the point. Mr. Jacobs could mean by the 4th calendar year quarter on sometime in the 4th calendar quarter. There is no way to tell from the PR statement and assuming has proven especially disappointing in regards to PYT over the last year statements have not always meaned what they seemed to. But I think that Mr. Jacobs and Pyng are to be commended for throwing out a timeframe of 4th quarter regardless of whether it is fiscal or calendar. Now if they could give us a sense of how much of a cost savings the brainstorming must achieve to proceed with chosing a third party manufacturer and what steps are involved in ramping up to mass production I would be a happy camper. But regardless thanks for giving us a PR with a timeframe.

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