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Technology Stocks : The Panda Project (PNDA)
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To: drakes353 who wrote (866)2/12/1998 10:38:00 PM
From: Michael T.  Read Replies (2) of 1521
 
An open letter to Stanford Crane.

Dear Mr. Crane

I've taken the liberty of speaking for all of the regular participants and readers of this electronic bulletin board (I hope they don't object)to express to you our deepest thanks and appreciation.

Please allow me to explain.

In the past twelve months you have given us two excellent opportunities to sell Panda short.
Yes ...I say YOU Stanford...because I feel you are singularly responsibly for this extraordinary phenomena.

Please allow me to illustrate:

If one was fortunate enough to borrow even a modest amount (say..1000) of PNDA shares from their broker and then sold them short near (but not at ) the high then cover near the low they would have
experienced the following returns:

Feb 97 sell short 1000 @ 8 1/2 = $8500

July 97 cover 1000 @ 3 = 3000

gross profit 5500

Oct 97 sell short 1000@ 8.0 = $8000

Dec. 97 cover 1000 @ 4.0 = 4000

gross profit 4000

total gross profit $ 9500

For simplicity.....we'll compute percentage returns on $8500 .......that's a whopping 111% !!!!

Now obviously...all of us may not have done so well...but certainly the opportunity was there.

In the beginning Mr. Crane, I felt that Panda was just another under-funded poorly run company doomed to failure because of it's antiquated ill-conceived technology. I viewed Panda's management
as out-of touch and possibly inept. Most recently though I have had a change of opinion.'

You, and you alone, Mr. Crane, have dissuaded me from my former bias!

It is now my humble opinion that you are in possession of Genius!!! The kind of genius that only a man like P.T. Barnum could truly appreciate. I feel that in the decades to come the name
Stanford Crane will become synominous with Houdini, Blackstone, Sigfreid & Roy...Satan... (oops) and all those other
Masters of Illusion and deception.

Some on this board have expressed their hope for the total demise of Panda...they are hoping that it will sink into the abyss of terminal shortdom. But I say NAY...never may that happen!!!
May Panda continue to rise like the Phoenix from the ashes of bankruptsy to the above $5.00 shorting price
forever and ever........amen.

So in conclusion Mr. Crane , may I again extend to you our utmost appreciation and gratitude.

Keep up the good work...we got a good thing going here!!!

Michael T.
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