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Gold/Mining/Energy : PYNG Technologies
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To: Edward W. Richmond who wrote (3781)5/19/1999 3:17:00 PM
From: Edward W. Richmond  Read Replies (3) of 8117
 
Tour of Pyng's Operation - Financial Position
To company has approximately $2M in cash and cash equivalents. At the burn rate is about $45,000 per month the company can operate for more than 3½ years without any infusion of capital.
Selling the subsidiary, Canadian Custom Profiles, is on the "things to do list" and, when completed, should contribute to our financial position. I got the impression that management had too many other priorities and this is an issue for some future date.
More later…
Regards, Ed

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