The Panda Project (PNDA) Message Board

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Technology Stocks : The Panda Project (PNDA)

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To: Rubber Man who wrote (814)	2/5/1998 10:51:00 AM
From: Mike Farmwald	Read Replies (1) of 1521

Panda changed its fiscal year just to delay last quarters numbers by 45 days. (Rubberman pointed this out on the Yahoo message board). I completely missed this when I listened to the conference call. For people who don't know - companies are required to file quarterly report within 45 days of the end of the quarter, but yearly reports are due in 90 days. The Oct-Dec 97 quarter for Panda was originally the 3rd quarter and hence due on the 15th of Feb, but by changing to a fiscal year, where the same quarter becomes the last quarter of the year, they get an extra 45 days to file. They must think they can raise some money first - then report the numbers. It's really hard to understand why anyone takes them seriously, their whole history is one of sleazy lies, exaggerations, and missed promises. Mike

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