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

To: Grant MacMillan who wrote (631)	3/3/1998 1:32:00 AM
From: Greg Meyer	Read Replies (2) \| Respond to of 8117

Netwire received this evening, for your info. (I was in Pyng at .60US, did real well; have been in again at average 1.50, holding for the long one. This thing hit me in March '96 as the real deal, and it still does. I work in emergency services and have seen people die on the street. Pyng's device, if it works as it is supposed to, will save MANY lives on the streets and the battlefields of the WORLD.) From: "NETWiRE!" <NETWiRE!@netcom.ca> Organization: Watkins Communications Inc. To: NETWiRE.Subscribers@tor-smtp2.netcom.ca Date: Mon, 2 Mar 1998 19:56:29 -08:0 X-Distribution: Moderate Subject: NETWiRE - Pyng Tech (PYT-VSE) Analyst's Report Reply-to: admin@pwatkins.com Priority: urgent ======================================================= PYNG TECHNOLOGIES CORP. (PYT-VSE) 52 Wk High: $4.25 52 Wk Low: $1.05 Recent Price: $3.85 Shares Outstanding: 7.6 million ======================================================= March 2nd, 1998 An Independant Analyst's Report "Your Medical Investment Today and Tomorrow" EVALUATION AND ANALYSIS OF PYNG TECHNOLOGY (PYT:VSE) The underlying analysis has been prepared against the backdrop of recent fundamental developments with respect to Pyng Technology's common stock as currently traded on the Vancouver Stock Exchange (Canada). The definitive purpose of the report is to provide an evaluation of the fair market value of the equity as it relates to assigned market value. It is important to note that the dynamics of this publicly traded company, from here on, will essentially change on a weekly basis. The most important and forceful underlying dynamic, is the fact that with the achievement of receiving a broad multipoint patent and its submission to the World Patent organization for filing, F.A.S.T. 1 System (tm) gains validity by all those countries that are signatories of the International Patent Treaty. The "System" has become a Pyng Technology Proprietary Product, with FDA approval. In an attempt to define penetration and market size, we have been sufficiently challenged. However, after comprehensive review of the business plan which covers the F.A.S.T.1 System (tm) in it's use in emergency medicine and through general application, it is quite apparent the original numbers established are quite conservative. This was very apparent in the fact the original plan did not adequately include all branches of military demands. The recent announcements that the United States Military, NATO and combined countries are also going to utilize the "System" are, for the purposes of this report, viewed as substantial added value. As no statistical data has ever been developed for these military applications, it is proper to assume that they are sizable. It is also a realistic assumption that many other military entities will adopt the F.A.S.T. 1 System (tm). Two key points of interest as noted below, The F.A.S.T. 1 System (tm) as currently defined with multipoint patent protection and FDA approval, has sizeable stand alone value The original market size statistical data was developed for the United States market only. It is highly probably that other countries may in fact have very similar anticipated demands to that of the United States (both civilian and military). It is anticipated that assigned stock market values, from now on, over time will increase rather dramatically. It is also expected that a natural progression of venue changes will occur, such as a listing move to other markets (TSE or Nasdaq). However, the most advantageous scenario would be a strategic alliance or buy out by a major medical company. At that point, market valuation would be maximized and a value assignment between Seventy Five Dollars and One Hundred Twenty Five Dollars per share (Canadian) could possibly be attained given the minimal amount of share dilution the company has achieved at this stage of it's life cycle. While we view this target as a mid to long term objective, we feel it is a reasonable expectation given the global nature of the markets. It is recommended, therefore, that components of our portfolio represented by Pyng Technology common stock be considered a long term hold, while in more absolute terms, the dynamics affecting Pyng Technology are not absolutely predictable. A buy out or merger with a medical company is a likely future scenario at much higher prices. Please visit the Company's web site at: pyng.com For further information please contact Mr. Michael W. Jacobs, President at: (604) 875-4526 -- courtesy of: NETWiRE! by Watkins ONLiNE! Vancouver, British Columbia, Canada ======================================================= WWW watkins-communications.com DISCLAIMER: The information contained herein has been drawn from sources which we believe to be reliable; however, it's accuracy or completeness is not guaranteed. This document is not to be construed as an offer or solicitation to buy or sell any of the securities herein named. The inventories of Watkins ONLiNE!, its officers, directors or shareholders may from time to time include the securities named in this document. E. & O.E.

To: Grant MacMillan who wrote (631)	3/3/1998 1:54:00 AM
From: Gary H	Read Replies (3) \| Respond to of 8117

Grant, The exposure over the last couple of years has ranged from dubious to uncertain to be sure. This was due, for the main part, to the fact the Co. was in the development stage. This time has passed. I'm sure that the US Army and NATO have supplied order number for the sole purpose of placing orders. These orders, in themselves will be significant. At present this Co. is at the very low end of it's "S" curve. Once the product is in the field and exposure to the rest of the world through these means, I should think we would see a domino effect. Up till now the exposure has been minimal. Once the Bloomberg article is out I'm sure we will see a lot of attention.