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Gold/Mining/Energy : PYNG Technologies
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To: m. jacobs who wrote (3704)5/4/1999 10:32:00 PM
From: Jack Rayfield  Read Replies (1) of 8117
 
Mr Jacobs: What does "by the last quarter" mean?

"We will be in production by the last quarter, as indicated in our news releases." Does this phrase mean that production will commence before December 31,1999 i.e. the end of the fourth calendar quarter. In the Viavid clip you stated that "the FAST 1 would be in production by December if not before." I hope that you can understand my confusion as "by last quarter" would usually mean the company's last quarter which in Pyng's case starts in July.

If this is an accurate interpretation of Pyng's current production schedule then Pyng expects it to take 7-8 months to ramp up production. Could you please enlighten us on the four or five significant milestones which can be identified as interim points in bringing the product to mass production?

Back in November 1998 my understanding was that once the field trial data was gathered and the design was finalized then the time needed to ramp up production would be 3-4 months. Obviously the plan that gave rise to these estimates has changed and I would be interested to know what developments have resulting in a doubling of the time frame.

Could you please give us some type of update on the progress made so far in regard to this statement made in the April 9,1999 press release- "Mass production analysis, individual component review for mass production, and design changes to maximize cost savings while ensuring quality are all presently being reviewed. Subcontractors, suppliers, tool and die makers, injection molders, who meet the required medical device criteria are being identified and will be contacted, with the goal of fast tracking the System into mass production."

Are any of the third party contract manufacturers reviewed so far being seriously considered or is Pyng still in the Mass production analysis phase?

Thanks in advance for your response.
Jack
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