SOURCE: Pyng Medical Corp.

June 13, 2005 09:00 ET

Pyng Medical Corp. Reports Sales and Profits Soar.

VANCOUVER, BC -- (MARKET WIRE) -- June 13, 2005 -- Pyng Medical Corp (OTC BB: PYNGF) (TSX-V: PYT) is pleased to announce that invoiced sales for the month of April exceeded $343,000, the single largest month ever. This strong monthly result confirms a continuation of a historical annual growth in excess of 50% for Pyng Medical Corp and the F.A.S.T.1 System.

This significant revenue for April has had a very positive effect on the bottom line with internal accounting showing Net Profit, after depreciation and amortization, of $137,000 for April alone.

This superior profit can be attributed to a major increase in gross margins generated from internal production and engineering enhancements in concert with increased unit sales and price increase.

We are also pleased to report that the strong April sales results have continued into May with orders received for $288,000 and June (to the 9th) of $125,000 respectively.

In recognition of the strong results and anticipation of continued growth, Pyng management has implemented a planned expansion of our production capacity to 3,500 units per month.

Michael W. Jacobs, Chairman/Pyng Medical Corp.

The Toronto Venture Exchange has neither reviewed nor approved of the contents of this News Release. Safe Harbor Statement: This release may contain certain forward-looking statements including without limitation, projections, assumptions, expectations, product development objectives, commercial introduction, and potential advantages of the F.A.S.T.1™ System. Actual events or results may differ from the Company's expectations as a result of risk factors discussed in Pyng Medical Corp. reports on file with the U.S. Securities and Exchange Commission.

Contact Information

  • For further information please contact:

    Pyng Medical Corp
    1-604-303-7964
    or visit our web site at www.pyng.com