The Panda Project (PNDA) Message Board

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Technology Stocks : The Panda Project (PNDA)

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To: Jim Revell who wrote (1130)	4/6/1998 1:57:00 AM
From: Mike Farmwald	of 1521

Concerning point 3: ... (3) Some of the participants in the discount deal are real pros and Helix, a venture capital fund who put out the bridge loan are no dummies. They would walk away from their investment if Panda was not capable of turning the corner. The day to sell is when you see them heading for the exits. .... Helix has "walked away". They didn't invest in any of the last few rounds. They did loan $2M, but on completely onerous terms - if Panda didn't pay, Helix owned all of Panda's patents. The "investors" in the two discount deals specialize in such deals. They short the stock, drive down the price and then cover with converted stock at a discount to the lowered price. They could care less whether Panda is successful - as long as it doesn't go belly up in next 3 or 4 months they come out fine. Mike

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