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

To: m. jacobs who wrote (3927)	5/30/1999 9:02:00 PM
From: A Special One	Read Replies (2) \| Respond to of 8117

The following is the April 9th news release: VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--April 9, 1999-- Pyng Technologies Corp. (VSE:PYT. - news; OTC Bulletin Board:PYNGF - news) is pleased to announce that subsidiary Pyng Medical Corp. has successfully COMPLETED field trials on the F.A.S.T 1 System for Adult Intraosseous Infusion. The F.A.S.T.1, which was researched, designed, and developed by Pyng Medical Corp., provides emergency caregivers the ability to establish central vascular access within 60 seconds inclusive of initial delivery of drugs and fluids thereby saving lives and saving time in an emergency environment. Pyng Medical Corp. selected to do field trials at multiple sites in America and Canada so that paramedics and emergency doctors could evaluate the F.A.S.T 1 System in a real emergency environment. The trials established the life saving/time saving benefits of the F.A.S.T 1 System as well as provide valuable input for both product and performance improvements, most of which was incorporated into the product during this process. This process required local, county, provincial and state approvals prior to the commencement of actual use. This is because the F.A.S.T 1 System is not only the world's first FDA approved system for intraosseous infusion in the sternal site, but it is also a new medical procedure, developed by Pyng Medical Corp. All performance criteria that Pyng Medical Corp. set out to demonstrate from field trials have been met with approximately 150 uses to date in the civilian and military field trial locations. Field trial sites also have on hand a similar amount of units that will also provide continued clinical evidence to Pyng Medical Corp. for use in medical publications, media coverage, and marketing. These trials have proved unequivocally that the F.A.S.T 1 System for Adult Intraosseous Infusion does, in fact, save lives and save time in the most critical time in emergency medicine. The response from these trial sites and the enthusiasm generated from all emergency caregivers in the field who have had the opportunity to use the System first hand has been very gratifying to all Pyng Medical staff. The CONCLUSION of field trials now allows Pyng Medical Corp. the ability to free up staff, who were otherwise devoting time to field trials, to be fully involved in fast tracking the System into mass production. Management has provided an incentive program to all staff members to deliver the most cost effective, high quality, technically superior, F.A.S.T 1 product that will meet and exceed the excellent results achieved in field trial use to date. Mass production analysis, individual component review for mass production, and design changes to maximize cost savings while ensuring quality are all presently being reviewed. Subcontractors, suppliers, tool and die makers, injection molders, who meet the required medical device criteria are being identified and will be contacted, with the goal of fast tracking the System into mass production. Pyng Medical Corp. will now devote all current financial and human resources to bring to the market a mass-produced, high quality, cost effective F.A.S.T 1 System for delivery by the fourth quarter 1999. My analysis: Saying "Completed" and "the conclusion of field trials", sounds pretty final to both myself and my brother-in-law, a very prominent lawyer in Toronto. Furthermore, it says in the news release that "Field trial sites also have on hand a similar amount of units that will also provide continued clinical evidence to Pyng Medical Corp. for use in medical publications, media coverage, and marketing." You see? It doesn't say the units are being kept for further testing. Yet the 3 sites: Jeff Deringer's E.M.S dept., Karen Hunter's E.M.S. department, and Bill Brem at the St. Cloud Fire Dept. all have told me that their trials are JUST STARTING. On top of it all, the Scottsdale Rural branch say they're not even close to completing their trials (from the assistant to the medical director). In fact, they don't see the trials ending before December at the earliest (I'm sure to the dismay of Mr. Jacobs). So you can all believe what you want. Personally, I'll never believe another news release this company ever puts out. The evidence is clear. Falsified statements were made. If you want to call the sites do so: Jeff Deringer - 1-407-847-1270 Karen Hunter - 1-407-518-2222 Bill Brem - 1-407-957-7350 The units they currently have (and the ones they're waiting to receive) are in order to START trials, not complete them.