The Panda Project (PNDA) Message Board

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Technology Stocks : The Panda Project (PNDA)

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To: par shooter who wrote (1032)	3/27/1998 12:44:00 PM
From: Mitchell Ryan	of 1521

<<If this were a normal deal, PNDA would have gone under long ago.. but for some reason... they keep getting money and finding a way to hang on. This is the puzzle. Why is PNDA still kicking? >> They keep getting money from new investors who aren't willing to assume much risk. The discounted convertibles have virtually no risk, but potential for great reward. It has nothing to do with the products. The dilution is damaging to the shareholders, including Helix, but at this time, there may be no other option. Besides, Helix has a long standing member on the board (James Wooder). As such, he hasn't done such a good job at protecting his company's interests, and Crane is not solely on the hook to save Helix's investment. Unfortunately, since you left Panda in Nov. 1995, you weren't exposed firsthand to the series of disasters that followed the initial launch of the Archistrat. Most were the result of gross mismanagement by Crane. If you had, you would never consider a long position on this stock regardless of how seductive the pitch. Ryan

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