Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: AriKirA who wrote (3875)	5/30/1999 11:07:00 AM
From: A Special One	Read Replies (3) \| Respond to of 8117

***My due diligence supports my statement: I don't doubt the future potential of the product, but maybe 3-5 years down the road, not in December. The news release claiming the field trials were completed was an outright lie! I personally contacted several of the sites to verify my suspicions. Here are the following companies/reps. I contacted: Jeff Deringer (E.M.S.) - the trials are just beginning!!! Karen Hunter (E.M.S.) - the trials are just beginning!!! Bill Brem (St. Cloud Fire Dept.) - same story!!! Rural Metro (Scottsdale) - the trials will be completed by Dec./Jan. at the earliest. Then state approval will be required for day-to-day use of the product (current approval within the state is for the trial only). Looking at Rural Metro, which would be one of the bigger clients, if the Scottsdale Arizona trials are completed by December/January, it will take another 60-90 days to get state approval for day-to-day use (I received this time-line from Rural). Assuming they get the approval, Scottsdale might start ordering by mid-2000, and the rest of the state may adopt it by the end of 2000. Now Scottsdale is using the unit 10-15 times a month. So what's that, $1000-1500 revenue a month? (whoopy!). Assuming the entire state adopts it, you won't see a yearly revenue stream above $100,000 before 2001. Now, if the state adopts it, then rural locations in other states may follow. However, they will each require their respective states approval. So you're probably looking at 3-5 years for complete adoption within Rural. However, I wouldn't hold your breath on that. Opinions of Mr. Jacobs within the system varies. Apparently, he was claiming to have field trial sites set up at a San Diego location and an Orlando location. San Diego reps told me they've never even heard of Pyng or the F.A.S.T. 1, and Orlando said they were contacted initially, but were rudely snubbed later on, and never saw the unit. The fact that Mike Jacobs told me the San Diego Rural site had conducted a field trial totally undermines my confidence in his credibility. It was an outright lie, and I confirmed it by calling up the location. This company is so far away from mass production, it's not even funny!!! Whose going to buy the product in mass quantity over the next year, those hospitals out West? Please, spare me (they'll only need a few units a month). This guy Jacobs is a liar, straight out. Remember, management is just as important as the product itself. As LOR posted May 23rd (here's a quote) - "A CEO, who I believe said in one of his 1998 posts "Go PYNG go" when the stock was heading north of $ 5.00 but who subsequently implied that the share price is no big deal when it fell from it's high down towards the gutter does not appear to have a consistent viewpoint as to the importance of the perceived value of his company by investors." If Mr. Jacobs wants Pyng to be successful, he should start trials in as many locations within the big Ambulance companies as he can. Personally, I'd start by implementing trials throughout the Rural/Metro system irrespective of the cost (not in just one state). Looking at the stock and the financial situation of the company, Pyng will require serious funding over the next few years. In turn, I expect the stock to be heavily diluted through both the issuing of new shares and even more options. So why would anyone want to buy the stock at the current level. I'd even be reluctant to pay $1.00, as the stock is still VERY, VERY Speculative. I'll buy it at 50-75 cents tops. Anyone paying more is gambling with their money. The only way I'd pay the current price is if management was replaced. I don't trust Jacobs at all given the fact that he put out a falsified statement suggesting all the field trials were completed. Get a new C.E.O. and President, and then we'll talk. But for now, I wouldn't buy the share over 50 cents. My Education - a B.A. in Economics from the University of Western Ontario and an M.B.A. from the University of Toronto. My Work Experience - Nesbitt Burns & CDS (the Canadian Depository for Securities).