Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Le coin des francophones -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (12855)	2/17/2000 4:41:00 PM
From: AriKirA	Respond to of 77509

Salut tom, Il faut comprendre que j'ai une position de base que je ne trade pas... Le reste je le joue. Ex: achat a 2.01 et 2.10 et vente a 2.65 2.70 rachat a 2.13 et vente a 2.58 Si ca continue a monter je ne me generais pas pour le racheter a 3 car je connais le potentiel du titre et ca fait 3 ans je l'attends Ari

To: Tom who wrote (12855)	2/17/2000 11:59:00 PM
From: AriKirA	Read Replies (1) \| Respond to of 77509

Tom, Si tu l'as manque Dear SI Pyng followers: I am forwarding to you a proposal Ed Richmond plans to bring up at the AGM on Feb 23, 2000. I wholeheartedly support the idea of a stock rights offering to existing shareholders, if additional capital is needed in the future by Pyng. The prospect of a rights offering really excites me. If Pyng signs on to this proposal for me it would demonstrate that they are willing to make a significant step in considering the interest of minority shareholder in their decision making. To me this is great news. There will be a chat session tonight Wednesday Feb 16, 2000 at 10PM EST to discuss this proposal on the Yahoo.com Pyng Technologies Corp public club site. The web address is: clubs.yahoo.com This club can be viewed by anyone simply by going to the above site. To participate in the chat session or post I believe you have to establish a Yahoo.com ID and password (free) you may have to join the club but I am not sure. Come join us tonight to find out more about the stock rights proposal. This message was emailed to all current registrants on the Pyng Shareholders Database. To register your Pyng shares and receive direct emails in the future register your shares at this address: members.aol.com Since I already have a database started I will be compiling the results and providing them to Ed. The email address given in his memo is Pyngmed@aol.com this is not my main email address ( wrayfield@aol.com) so for future reference do not use it for email not related to this proposal as I will not check it regularly after this survey is complete. If you want your vote to count please respond promptly, the results will be provided to Ed on Monday Feb. 21, 2000. Thanks Jack Proposal To: All Pyng Shareholders From Ed Richmond Would you please 1. read my rather lengthy document, and 2. consider the rights issue, and 3. raise any questions or concerns you may have, and finally 4. indicate whether or not you would be interested in such a financing program if it were made available. 5. respond at your earliest convenience. I will be bringing this item forward at the AGM on Wednesday. Thanks for you time and your response. I would have had this information out a little earlier, but I just became avgrandfather, again. JJ Best regards, Ed Subject: Shareholder Straw Poll on a Rights Issue RIGHTS ISSUE REQUESTED Several Pyng shareholders have proposed that the company consider a rights issue to existing shareholders, IF additional financing is required as the company goes to larger scale mass production. In a letter from eleven shareholders to management, we wrote, "If Pyng requires additional financing at some time in the future, we would recommend that a rights offering be made to existing shareholders. This offering would permit existing shareholders to acquire shares as part of a new stock offering. Such a provision could allay concern about insider privilege when funding is raised through private placements." We believe this to be a fair, practical procedure for securing capital, and it rewards shareholders who have held shares over a protracted, difficult period. CAPITAL NEED IS NOT IMMINENT There is currently no need for an infusion of capital. However, if there is a need as the company moves to significant mass production and significant market penetration, several of us would like to have the opportunity of participating in a stock issue through a rights offering. MECHANICS OF A RIGHTS OFFERING While the final form of any rights offering would be determined by management, we would be given the following opportunity. 1. Every shareholder would be given the right to purchase from the company a specific number of shares within a specified period of time. i.e. A shareholder might be given the right to purchase one share at the discount price for every five shares held. 2. The price of the shares would likely be priced in the range of 15% less than the average closing price of the stock for the twenty days immediately prior to the rights issue. 3. The rights issue provides the shareholder with the right, but not the obligation to exercise the right and purchase the stock. 4. The exercise period would likely be brief, probably about three months. This is important because the company needs to know if the issue will meet its need for capital. 5. I had anticipated that there might well be a hold period during which the shares could not be traded. However, an initial opinion from the BC Securities Commission indicated that there would be no holding period and the shares would be free trading upon exercise of the rights. CURRENT SITUATION Because I believe that a rights issue would be directly beneficial to current shareholders and is fairer to shareholders than is a private placement, I have taken the liberty of discussing the matter with Michael Jacobs. I believe that management could be persuaded to initiate a rights offering, if further funding is required. I now need to gauge the interest level of shareholders before I can proceed with a concrete proposal. If there is ambivalence among Pyng shareholders, management may well determine that a private placement is the less risky, more efficient option. A private placement would basically allow management to assign shares to a select group of individuals. In order to demonstrate support for a rights offering, it is important that shareholders take the time to make their wishes known on this subject. Please respond whether you support or oppose this action. If we can go to management with the support of a majority of 102 shareholders representing 900M+ shares that are registered on the Pyng Shareholder database, it should be clear and convincing evidence that a rights offering is not only the right thing to do but also a preferred option. YOUR RESPONSE IS CRITICAL To advise me of your interest or lack of interest in a rights issue, would you please register your vote by email at pyngmed@aol.com, or send me a Private Message on the Pyng thread of the Silicon Investor. I will need to know - your name - your email address (if you have one) - country of residence (state/province optional) - the number of shares you hold. This information will be held in the strictest of confidence. This is necessary to estimate the number of rights that could be required. - your response to this proposal Management's willingness to pursue this avenue of financing will be highly influenced by the predictability of the exercise rate of the rights. Therefore, I need a clear indication of your interest in such a plan. To gauge the interest level, I am requesting that you select one of the following statements. 1...I definitely would exercise my rights, if the share price were above the strike price of the right. 2...I probably would exercise my rights, if the share price were above the strike price of the right. 3...I would exercise my rights only if the spread between the share price and the strike price were significant by the expiration date. 4...I am not interested in obtaining additional shares at a discount to the market price. I would appreciate any feedback, questions or concerns that you may have. I look forward to your responses. Best regards Ed P.S. Please remember that this proposal is in the preliminary stage, that further funding may not be required, and there is NO obligation to exercise a right, even if one is issued to you. Obviously, I, personally, am anxious to participate, if such an opportunity can be created.