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

To: Mac who wrote (2355)	5/28/1998 8:08:00 AM
From: Stang	Respond to of 8117

Pyng filings March 27/98 sedar.com Quarterly Report Form 61 and Financial Statements for the three months ended March 31, 1998 Here's a snip from the report: -------------------------------------- Pyng Technologies Corp. Quarterly Report for Period Ending March 31st 1998. Pyng Technologies Corp. has much to report in this quarter as subsidiary Pyng Medical Corp. has made some significant breakthroughs with the F.A.S.T 1„ System for Adult Intraosseous Infusion. We have had 18 news releases over this three-month period, which have caused wide spread International interest in both the product and the Company. As a result Pyng Technologies Corp. shares have seen a significant increase in price and volume The price of the stock has seen a high of $6.70 and is currently trading in the $4.50 to $4.25 range after consolidating. Some of the major news items included: Ethical approvals for the F.A.S.T 1 System by both the University of British Columbia and the University of Maryland Medical Center. Military Stocking Numbers received from both the US Military and NATO. Training at St. Paul's, Royal Columbian and University of Maryland Medical Center. First Production Shipments to above Hospitals. First use of F.A.S.T 1 on Conscious Patient. Vital additional Patent Protection. FDA cites Pyng Medical and the F.A.S.T 1 as "Significant Medical Breakthrough" Pyng Medical Corp. has spent $262,000 during this period on Research and Development and continues to pursue the goal of field trials on the F.A.S.T 1 System prior to a major marketing effort expected in the fall of 1998. Production is underway and product is being delivered. We have received a very positive response to the System and we have had several uses of the F.A.S.T 1 in emergency hospitals with great success. We are establishing more field trial sites including several Ambulance Services which will increase the use of the System for the purpose of reporting the success rates to the Emergency Medical Community at large in a multi media format. Pyng Technologies Corp. fully expects to have revenue generated from the F.A.S.T 1 System over the next few months with major revenue being produced as sales to the emergency medical market occur over the next year as our marketing program takes effect. Canadian Custom Profiles Ltd. (Subsidiary) had sales of $69,988.00 during this period which is down due to a major slowdown in the housing construction in B.C. which uses the extrusions produced by C.C.P. Cost of Sales was $44,788.00 with a gross margin of $27,956.00 including Interest and miscellaneous income prior to Research and Development costs associated with the F.A.S.T 1 System. Pyng Technologies raised $1,477,247.00 during this quarter by Private Placements, Exercising Warrants, and Exercising Stock Options. We are continuing to advance the F.A.S.T 1 System to the major medical markets and we are confident "The Best is Yet To Come" as Pyng Technologies shareholders should enjoy excellent revenue as the F.A.S.T 1 System for Intraosseous Infusion for Adults is accepted in the Emergency Medical Marketplace. On behalf of the Board of Directors, "Michael W. Jacobs" ------------------------------------------- Michael W. Jacobs, President / CEO. --------------------------------------------- Stang