The Panda Project (PNDA) Message Board

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Technology Stocks : The Panda Project (PNDA)

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To: frank 3 who wrote (1246)	4/28/1998 10:05:00 AM
From: Mike Farmwald	Read Replies (1) of 1521

On Panda's cash (I posted this on Yahoo - thought people might be interested.) > Panda has $4 million from the convertible deal > (the deal was for $6, $2 used to pay off a loan). That was in Jan. They burn over $1M a month, so they run out (again) in May. With all of the recent activity, they are probably burning more than that. Contrary to all hyped up promises, they are still not generating any more than trivial revenue. This is getting interesting. They are now doing (have to do) financing deals every 4 or so months. The convertible deals can't do their cycle that fast (for the current deal they will need to short about 1.5-3M shares, then cover/convert at the lowered price). So Panda will need to raise more money before the last convert has even been digested. Also, did anyone who listened to the (pre-Jan) conference call notice that Stanford swore he would never do another convertable - and just a month or so later did another? Mike

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