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Gold/Mining/Energy : PYNG Technologies

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To: AriKirA who wrote (3866)	5/29/1999 9:15:00 PM
From: Jack Rayfield	Read Replies (1) of 8117

I agree that Pyng is doing a good job controlling cost but this portion of the financial statements indicates that they only have approximately a year of cash left at $500K per quarter. Cash and short term deposits ------------- $ 2,008,946 Net loss for the period Canadian GAAP------- $( 137,710) Research and development costs expensed-- ( 363,755) U.S. GAAP------------------------------------ $( 501,465) The Canadian GAAP figures distort some what the true cashflow picture because it allows the deferral of research and development cost. These cost will be amortized over future period against revenues. Canadian GAAP basically allows companys to use the matching principle of matching expense to the revenues they produce. As an investor I only care that Pyng has enough cash to get into production. Also the current quarter cashflow does not appear to include any of the expense of ramping up production which could be substantial. I am alittle concerned that the cash will not be enough. I would like to hear other opinions maybe I am interpreting the data incorrectly.

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