waiting patiently !, page-39

Hi GS

Thanks for the reply. Couple of comments as follows:

- A spec stock requires a gut feel IMHO and there are rarely solid numbers to support an investment (except mining - and the numbers there seem to me to correspond with the management style ie rampers or conservatives). If there were solid numbers, it probably wouldn't be a spec stock or conversely if a spec stock has numbers to support it but is getting no love from the market, maybe the numbers are a little rubbery. In the mining sector I have a lot more faith in the conservatives as I feel it sends a message of managements underlying belief in their tenement. Ramping management - I often suspect are trying to lift SP for a cap raising. Whilst this is certainly intangible, I have the gut feeling that PIE management have a great deal of confidence in the future and agree a good way to gauge this is to speak directly to them. Agree you have to have some numbers and during discussions with my friends & associates on this stock, we feel there is real potential for a 10,000 - 20,000 machine roll out with Telstra. If so then it will be just the start of a significantly bigger future for PIE. If not, yep, I've probably done my money but I am satisfied with the upside v downside risks. In reality, who knows? Speculation of course, suppose thats why we call them spec stocks.

- I don't know that PIE is any better prospect than any of the companies you have invested in. I hope I haven't suggested this in any of my posts.

- Totally agree that the story behind the link was not related to PIE in any way. I didn't mean to suggest this. Knowing little about TZL but based on some of the significant contracts you have mentioned they have, I thought maybe there is some manipulation of their SP. Wouldn't be the first time.

- Not sure why the comment about ramping. I don't believe I have suggested you have been ramping. If so, it certainly wasn't my intent.

- Also agree with your method of comparative investing however the underlying message I get from your posts is that you prefer more certainty. I simply don't think this is possible in the spec stock space. The name of the game is to pick potential before others do and I feel this comes from intuition and 'gut feel' as well as industry knowledge and even networks. I can't think of a spec stock that made it big with proven numbers from the start.

Anyway, all good and I am happy to agree to disagree. Best of luck with your investments and if PIE go well, I will have a beer for you. If not I hope you will have one for me.

Regards

TT