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

To: Coho who wrote (427)	12/26/1997 10:42:00 PM
From: m. jacobs	Respond to of 8117

Dear Don, The company does not have the right to sell shares into any market other than by methods such as private placements, You of all people should realize this, Any and all brokerage houses would charge a lot of money to attempt to raise capital without any gaurantee of success. I will succeed. We are in need to raise capital now in order to tool up for production and those who have the most to lose are the ones who are putting the money up. I will repeat for you unless you did not understand the last time the VSE is down to 560 or so from a high of 1360 in March a 60 percent drop. This reflects on all attempts to raise capital in this market and I can assure you we have made those attempts. We have a business to run and I am going to raise the needed capital as is required. I make no apology for putting up my money and I am sure the rest of the directors and management,and shareholders feel the same way. Last year at this time we asked interested shareholders to join with us to raise capital, some did, as did management. We have always been there to supply capital and we will always be there to see this project to completion. yours truly, Michael Jacobs, President

To: Coho who wrote (427)	12/27/1997 4:21:00 PM
From: sPD	Read Replies (1) \| Respond to of 8117

>> please tell me the company hasn't been tanking(selling) their own paper Don, the following was obtained from the BC Securities Commission (via Canada Stockwatch) - last updated Dec 19, 1997. In 1997, Mr Jacobs bought and sold at various times but was a net seller of 21,200 shares while still retaining 3.9 million shares as of Dec 12. The last four transactions reported were all buys at $1.60, $1.50, $1.43 and $1.61 (on Nov 17). Director Pawel Lukowski did nothing but add to his position in 1997 by buying 17,111 shares to hold 89,711. His buys since Sept 12 were at $1.80, $1.65, $1.49 and $1.40 (on Dec. 1). Overall, these transactions indicate to me that two insiders have a high degree of confidence that the stock will rise in the future. Buying this week at prices below what insiders paid as recently as Dec 1 didn't seem to pose much of a risk - broader based buying by other key insiders on the open market in 1997 would have been even more encouraging, however.

To: Coho who wrote (427)	12/29/1997 1:21:00 PM
From: Bernard Elbaum	Read Replies (1) \| Respond to of 8117

Don, You are right in saying that the insiders got to buy more shares at a discount. On the other hand, the dilution was relatively small, and as M. Jacobs points out, the transaction costs practically zilch. At this stage of the game, for a company that still appears as risky as Pyng, there is probably no good alternative financing available other than a mix of equity and warrants. We shareholders might prefer if Pyng did more promotion of its stock, but M. Jacobs apparently has the strategy of instead conserving scarce funds and letting the results of the fieldwork trials and expected product orders take care of the price within the next 6 months. If this strategy pays off, we will have little to complain about. If it does not, there will be plenty cause for complaint, but it is reassuring to learn that the insiders believe in it enough to sink more money into Pyng shares. It does seem sloppy, however, for the amount of the placement to increase from one week to the next. What happened here? Did one insider decide to pony up more money? Or did Pyng change its estimate of costs and needed finances? M. Jacobs did not respond to this point and should.