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

To: LOR who wrote (7339)	2/7/2005 11:46:04 PM
From: Jack Rayfield	Respond to of 8117

LOR I think a pretty good case can be made that Pyng has turned the corner and if the recent miliary recommendation has the advertised effect we could see quite a stock move in the next year. Here are some key financial figures that lead me to this conclusion: In Canadian Dollars Operating Sales Change Profit 2002 Q1> 106,332 > (184,929) Q2 203,523 91% (19,609) Q3 157,994 -22% (179,129) Q4 111,299 -30% (241,396) Total 579,148 (625,064) 2003 Q1 247,377 122% 24,541 Q2 388,804 57% 13,565 Q3 250,149 -36% (181,149) Q4 268,432 7% (137,788) Total 1,154,762 (280,831) 2004 Q1 286,650 7% (30,700) Q2 384,866 34% 18,120 Q3 582,222 51% 131,325 Q4 674,746 16% Not Known Total 1,928,484 My definition of Operating Profit is basically Net Income plus Amortization of R&D. Because the amortization of R&D does not effect Cashflow and face it Cashflow is what is important in a small cash strapped company like PYng. You can see from this info that Pyng was Cashflow positive in Q2 and Q3 of FY04. I expect Q4 will be cashflow postive to the tune of 180,000 Candian dollars. Sales increased in the previous 6 quarters but declined in Q1 of FY05 to $423,655 from the record Q4 2004 level. This is disappointing but still respectable. It will be interesting to see what the Q2 sales are and if they get back on track then the stock should continue to appreciate. It remains to be seen how much the recent recommendation from the military will contribute to sales. I share your concern about whether Ppyng can ramp up production if the unlikely happens and they receive orders of 25K units for several months in arow. I do not think at this point Pyng could not service this modest level of orders. But this is just my take on the current situation. Some regular guidance from Pyng on these matters would be appreciated. It looks like the Executive Notes are non-existent for like 2 years. And if Pyng does not begin some type of communication program the stock will spike on good news and drift between news releases. The growth displayed so far is just not impressive enough to make investors believe that really significant sales (i.e. 10- 20 Million) can be expected in the next five years much less the next 6 months. But I think that sales of 20 million Canadian would produce a stock price of $30 Canadian at least using a 30 PE which is very conservative to me. This level of sales may never be achieved but it is nice to dream. Regards Jack

To: LOR who wrote (7339)	2/7/2005 11:46:07 PM
From: Jack Rayfield	Read Replies (1) \| Respond to of 8117

LOR I think a pretty good case can be made that Pyng has turned the corner and if the recent miliary recommendation has the advertised effect we could see quite a stock move in the next year. Here are some key financial figures that lead me to this conclusion: In Canadian Dollars Operating Sales Change Profit 2002 Q1 106,332 (184,929) Q2 203,523 91% (19,609) Q3 157,994 -22% (179,129) Q4 111,299 -30% (241,396) Total 579,148 (625,064) 2003 Q1 247,377 122% 24,541 Q2 388,804 57% 13,565 Q3 250,149 -36% (181,149) Q4 268,432 7% (137,788) Total 1,154,762 (280,831) 2004 Q1 286,650 7% (30,700) Q2 384,866 34% 18,120 Q3 582,222 51% 131,325 Q4 674,746 16% Not Known Total 1,928,484 My definition of Operating Profit is basically Net Income plus Amortization of R&D. Because the amortization of R&D does not effect Cashflow and face it Cashflow is what is important in a small cash strapped company like PYng. You can see from this info that Pyng was Cashflow positive in Q2 and Q3 of FY04. I expect Q4 will be cashflow postive to the tune of 180,000 Candian dollars. Sales increased in the previous 6 quarters but declined in Q1 of FY05 to $423,655 from the record Q4 2004 level. This is disappointing but still respectable. It will be interesting to see what the Q2 sales are and if they get back on track then the stock should continue to appreciate. It remains to be seen how much the recent recommendation from the military will contribute to sales. I share your concern about whether Ppyng can ramp up production if the unlikely happens and they receive orders of 25K units for several months in arow. I do not think at this point Pyng could not service this modest level of orders. But this is just my take on the current situation. Some regular guidance from Pyng on these matters would be appreciated. It looks like the Executive Notes are non-existent for like 2 years. And if Pyng does not begin some type of communication program the stock will spike on good news and drift between news releases. The growth displayed so far is just not impressive enough to make investors believe that really significant sales (i.e. 10- 20 Million) can be expected in the next five years much less the next 6 months. But I think that sales of 20 million Canadian would produce a stock price of $30 Canadian at least using a 30 PE which is very conservative to me. This level of sales may never be achieved but it is nice to dream. I could not get the formating to properly space the columns sorry. Regards Jack