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

To: Paul Loucks who wrote (4290)	8/9/1999 1:58:00 PM
From: Chris L.	Respond to of 8117

Paul, I don't blame you one bit. Although my investment philosophy is never to sell into negative 'feelings' but little negative 'news', this one has even me frustrated - I have inquired three times in three different communication methods (direct email, posting, and phoning) to get very high level clarifications to straightforward issues (see one of my last postings) with no success, or even an answer of any type. The frustrating thing is that I really believe in the value and legitimacy of this product - something that could indeed make the world a better place, but am appalled at the treatment of shareholders in recent months - just answering some basic questions from those making this venture possible by investing their own real money does not seem like too much to ask. I will be putting this puppy on the block shortly, and like someone else on this thread, I indirectly control 5 X of shares owned personally. I am also considering just showing up at the Pyng office in Vancouver (Richmond?) to get answers if I get a chance later this month. Anyone wish to join me? Chris

To: Paul Loucks who wrote (4290)	8/9/1999 2:43:00 PM
From: Edward W. Richmond	Read Replies (1) \| Respond to of 8117

Paul, I appreciate your frustration with unmet targets and this current repricing of options. In the repricing of the 600,000 options , I calculate the the company potentially has a major loss of capital of 600,000 shares($4.97-$1.30, the repricing this year), or 600,000x43.67 = $2,202,000, if my calculations are accurate. Yes, I see this as totally unacceptable and a slight to shareholders who are in at prices far above $1.30. An objective analysis of the total situation clearly indicates that nothing fundamental has changed with the product, its market or the upside potential of the stock. This current fiasco will have some short term or even intermediate term negative effect on the share price as investors bail out in frustration and disgust. However, if I am correct about the potential of this device, over the longer term, investors will be well rewarded. I am convinced that management, in spite of this recent demonstration of ineptness, has the skills and abilities necessary to take FAST1 successfully to market. By the way, I have no problems personally with Mike, David or Judy. I believe that each makes a very specific, significant contribution to the leadership team. I have found communicating with Michael and David, the two with whom I have had most contact, to be pretty straightforward. You have to make up your own mind as to if and when to bail out, but I am staying. You will be missed if you sell. Best regards and successful decision making, Ed