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

To: Jack Rayfield who wrote (4289)	8/9/1999 1:24:00 PM
From: Paul Loucks	Read Replies (2) \| Respond to of 8117

On my way out ... I will wait for a favorable exit point to sell my remaining shares. Repricing of options is the last straw. Jacobs knew that shareholders did not approve of this action and just does not care. Last time he repriced, he got critical posts from the following people: 1. Mark Calgary 2. 24karat 3. Barry Moss 4. James Harvey 5. myself 6. Edward Richmond (including discouraging words towards future repricing). Mr. Jacobs responded as follows: techstocks.com This link will save him the trouble of having to repost his thoughts. As for the low pay/no pay argument, I just don't care to hear it anymore. Pay them and quit repricing options. I am not saying that it is applicable but an old quote comes to mind "You pay peanuts, you attract monkeys". Paul

To: Jack Rayfield who wrote (4289)	8/9/1999 8:19:00 PM
From: Stephen Krupa	Read Replies (1) \| Respond to of 8117

Jack, That yourself and others of us are being accused of bashing, the reality is that we are frustrated that we cannot get answers to legitimate questions. This is NOT bashing. Also, in the hope of helping Mr. Jacobs issue a press release, the following are excerpts of a somewhat similar situation. Mr. Jacobs or Mr. Bence(sp?) could copy it almost verbatim. "Wednesday August 4, 9:46 am Eastern Time Company Press Release SOURCE: Microphonics, Inc. Microphonics Letter To Shareholders NASHVILLE, Tenn., Aug. 4 /PRNewswire/ -- Microphonics. Inc. (OTC Bulletin Board: MRPS - news; microphonics.com) updates shareholders with a letter from Jimmy Gayle, CEO, and Myles Izikoff, VP-Sales and Marketing: We want all of our shareholders to be informed of our progress here at Microphonics. This letter, especially with the release of our second quarter revenue and income numbers, comes at an appropriate time. First, let us state our appreciation for the loyalty and good wishes we have received from numerous shareholders. We are doing our best to ensure that this loyalty is rewarded. For those that have not experienced what it is like when a small enterprise is propelled by phenomenal growth and thrust into the public eye, let us give you a taste of what happens. It is simultaneously exciting and humbling; challenging and stressful; invigorating and somewhat overwhelming. After some rough times getting our company rolling forward and our technology perfected, we then had to confront the complexities of the public domain -- investment bankers, financing, accounting practices, the SEC, etc. The key issue for us was to realize that we were now in two businesses. On the one hand, is the business of research and development, marketing and selling our products. We must and will keep the majority of our time focused on this challenge. It is of utmost importance that we do what we do best, build Microphonics into the company it is becoming, the industry leader in ultrasound diagnostics. On the other hand, is the business of making our company, in all aspects, appealing to the stockmarket and responsive to our shareholders. In response to the first challenge of growing our business, we have been working to expand the applications of our technology and to market our products by direct sales and through a growing list of distributors. Some shareholders question the lack of major contract announcements over the last few months. While often frustrating, we can't let ourselves forget that there is such a thing as a sales cycle. When you are working with the types of companies we are, this cycle often gets prolonged." "In response to the second challenge of ensuring that our stock is appealing to the market and that we are responsive to our shareholders, we have taken two major initiatives. Firstly, we enlisted the services of SmartStockAdvisor.com who have brought a welcome level of professionalism to our press releases and our outreach to shareholders and the broader investment community. Secondly, we are aware of how the lack of financial statements has prompted concern in many shareholders. Unfortunately, our past missteps in this area may have hurt our credibility. But these missteps are being corrected. We have never, nor ever will, mislead our shareholders. We lost money in 1997; we lost less money in 1998; we made a profit in 1st quarter '99 and a larger one in 2nd quarter '99. While, up to now, the income statements have been ''unaudited'', this will soon change. We have retained Ernst & Young to provide all of us with audited 1997, 1998, 1999 and beyond financials. We also have hired a chief accounting officer, chosen from candidates sent us by Ernst & Young. Along with our CAO, another priority for Ernst & Young is to prepare as rapidly as possible all required SEC filings so that we may be a fully reporting company." Steve.