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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: LOR who wrote (4122)	7/9/1999 1:18:00 PM
From: HotShot1	Read Replies (2) \| Respond to of 8117

LOR, that is a very impressive posting. I was thinking along the same lines that perhaps Mr. Jacobs lacks the necessary business skills to take this company to the next level. However, I doubt that he will accept your suggestion of the 30,000 units over the next year or else, as it's quite a lofty target at this point. I'll be surprised if they do even a tenth of that with Jacobs at the forefront by next September. An individual with a business degree (MBA or BBA) and experience within the field would be most suitable for the CEO position.

To: LOR who wrote (4122)	7/10/1999 12:08:00 AM
From: Jack Rayfield	Read Replies (2) \| Respond to of 8117

LOR I agree with you. The only thing that is going to restore investor confidence in Pyng is for Mr. Jacobs to set some volume sales targets and publicly take responsibility for achieving them. I consider the establishment of goals and evaluation of actual results against those goals as the primary job of a CEO. I think the volume commitment that you asked for is very reasonable. But if it is not, only Mr. Jacobs can provide a better goal. I am glad that Pyng has found ways to make the FAST 1, safer, easier to use and less costly to manufacture. And now that the design phase is finished, timelines should be easier to estimate and should be established with performance evaluated against the milestones. Pyng needs to be run like a business and not like an open ended research project. The fact that Pyng does not have an independent board of directors makes the establishment of and evaluation of progress toward goals by the CEO all the more important. When there is a "friendly" board of directors the CEO has complete control and has the sole responsibility for keeping the ship on course. And I am sure it is easy to fall into the "perfection trap" where you spend 1,000% more effort attaining the last 10% of results than you did the first 90%. This is were an independent board of directors would be a great benefit as a reality check for the CEO. In a way this thread serves this function in some small way. We all have Pyng best interest at heart for selfish reasons. I personally think is a mistake to ignore us. I truly believe that Mr. Jacobs and the Pyng staff have made the right decision to field test the FAST 1. But that decision should have been accompanied by a detailed timeline, complete with specific goals. The past is the past and rehashing it will not produce anything of value. As always LOR you have spoken a little more bluntly than I would have. But you have stated very directly what has been on my mind. I can not believe that others on the thread have been so sheepish now that you have raised the issue. Maybe they just do not care, but I commend you for stepping forward and making the tough point. I hope that Mr. Jacobs responds.