The Panda Project (PNDA) Message Board

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Technology Stocks : The Panda Project (PNDA)

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To: chris john who wrote (1223)	4/14/1998 9:35:00 AM
From: Mitchell Ryan	of 1521

<<a) It seems to me that way back when they went public, their technology was viewed as sound and promising (hence the premium valuation they received) however their business model sucked. (hence why they've come off a high of around $50 to $4-5). Why didn't anybody buy them after they tanked for their technology? >> It wasn't just the business model that was flawed. The version of Compass connector used in the Archistrat computers was of very poor quality, and the overall reliability of the Archistrat systems was poor as a result. In effect, this proved that the Compass connector was not feasible for use in computer systems. To make matters worse, some of the Archistrat systems were sold to investors. I think several of them started shorting Panda thereafter. <<b) Since they tanked after approaching the market with a flawed strategy (ie Archistat instead of focusing on VSPA/Compass), what have they been spending their R&D dollars on? Has VSPA/Compass technology been improved at all in the past year or two?>> Whether Panda has made significant improvements to address the quality issues remains to be seen. Note that many of the quality problems were design defects and not process related problems. After the mass exodus of employees (from 160 to 50), it is doubtful that Panda was able to attract the talent necessary for a turnaround. I honestly can't say what Panda has been spending their R&D dollars on. It seems as though we keep seeing press releases about all of this capacity for Compass and VSPA, and perhaps, that has been the focus. <<c) There seems to be a lot of negative references to Stafford Crane and his ability to function as a CEO. Without getting personal and nasty, can anyone qualify these statements from personal experiences? What makes him a bad leader? >> I'll use one of the best summarizations I've heard to date. I'll borrow your words: "... a CEO who's moody, tempermental, with no leadership skills who's egotistical and driving his company into the ground..." Do these sound like the qualities of a good leader? Ryan

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