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Technology Stocks : The Panda Project (PNDA)
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To: Rubber Man who wrote (772)1/28/1998 12:43:00 PM
From: chester lee  Read Replies (1) of 1521
 
Rubberman,

I doubt they will get all 1.2mm initially. It's usually a percentage upfront before delivery, a larger percentage within 30 days of delivery, and lastly a final payment within 30 days after tooling, installation, testing, validation, etc. installation. All this will not happen before the close of Feb. Crane will have to do more financing soon, and I suspect the recent price rally from the road show and todays announcement are preping the way for some sort of equity financing. I'm hoping for some sort of prefer shares that convert into commons at a percentage disount to the commons. The last time he did this, PNDA commons got hammered and Crane said he would never do this again. We shall see.

Chester
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