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

To: Pierre J. LeBel who wrote (2232)	5/18/1998 6:10:00 PM
From: the Chief	Read Replies (1) \| Respond to of 8117

Hi Pierre. We both need correction. First I was responding to a statement concerning annual revenues of $50mm that was proposed as needed to support the existing market cap. I responded with the "math" to show that in fact annual revenues of $50mm would in fact "NOT" justify the market cap, it would inflate it. You have responded with probably much more accurate figures, as I was taking these numbers off the top of my head. Using your numbers of $1.94 and subtracting 44c for additional dillution, still leaves $1.50 a share. We have discussed a number of "multiples" in the past from as low as 15 to as high as 33. Pick anyone of those numbers and GBM is still out to lunch, no matter what you do with the figures. In fact, reduce the EPS to $1.00 and it still shows you he still does not know what he is talking about. The time line of 4 years that you pointed out was not part of the discussion, just the $50mm!! Thanks for supporting my position that $50mm, would in fact, push this stock "MUCH" higher the Chief