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This is a three-part case which can be used as a follow-on to ''Diamond Technical Group'' (802- 033-1). The case has been used in both a new ventures and a managing growing businesses course to illustrate the difficulties of the start-up and growth of a small high-technology firm, Pyron. It demonstrates the struggles that small companies, especially high-technology ones, encounter when they are continually short of cash and weak in management. After nine years, Pyron has run out of financing sources, the founder has pulled back, and the company is faced with the reality that it will probably go bankrupt unless it takes drastic measures that include selling the entire company or selling its technology. The case has been used effectively to demonstrate methods on how one would value Pyron. Once a valuation has been determined, a negotiation session between potential buyer and seller can be carried out. The teaching note was written by William Bygrave.