VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - Pyng Medical (TSX VENTURE:PYT) is pleased to report that October 2006 sales have exceeded all previous October sales. This has set a new record for a traditionally slow period that was attributed to the US government's fiscal year budgets not yet in place.
October 2006 sales were $297,836 compared to sales of $82,044 for October 2005, resulting in a 363% increase. Increased sales were seen in all areas; particularly from the new distributors Pyng Medical has appointed in fiscal 2006.
Dr Clinchy, Pyng Medical's Director of Business Development was quoted, "I'm extremely pleased to see these results, particularly as it confirms our strategy to diversify our client base and add to our sales channels to capitalize on the market opportunities created by the ILCOR changes."
For more information please read our Q1 October 2006 Newsletter on items such as the annual revenue opportunity created by the ILCOR changes and the F.A.S.T.1(TM) advantages. We encourage everyone to enroll in our newsletter to stay informed on Pyng Medical Corp.'s latest developments. To enroll please visit our web page at http://www.pyng.com/newsletters.htm.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
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Pyng Medical Corp.