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Technology Stocks : The Panda Project (PNDA) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1499)	10/13/1999 10:47:00 PM
From: Daniel Chisholm	Respond to of 1521

"Who is SBI?" Yup, I've read all that stuff in the filings. The question that I don't know the answer to, of course, is: Note that SBI keeps lending money to PNDA. That's how PNDA has remained out of BK. The debt was due on Sept. 30. No word on the outcome of that. Who exactly owns and controls SBI, and where it gets its capital, is unclear to me. It really is odd, isn't it? - Daniel EDIT: No, I'm not grubbing, but I'll take it anyhow!

To: Q. who wrote (1499)	10/28/1999 3:11:00 PM
From: Daniel Chisholm	Read Replies (2) \| Respond to of 1521

...and the beat goes on. SBI has loaned PNDA another $300K, according to an 8-K filed today. It seems they just can't get around to closing the deal. What are they (SBI, PNDA) trying to do, stall and kill time? Why? Why are they bothering to buy PNDA, and why do they keep slipping them a third of a million dollars every time they need more cash? I feel like I am missing something here.... - Daniel P.S. The relevant portion of the filing is this: Item 2. Acquisition or Disposition of Assets ----------------------------------- The Panda Project, Inc. and Silicon Bandwidth, Inc. have entered into Amendment No. 2 to the Asset Purchase Agreement dated October 26, 1999 which extends the expiration from December 30, 1999 to February 24, 2000. On, October 1, 1999, The Panda Project, Inc. (the "Company") entered into agreement with Silicon Bandwith, Inc. ("SBI") pursuant to which SBI has loaned the Company an additional $300,000 totalling $1,250,000 in connection with the loan, the Company has granted to SBI a security interest in substantially all of the assets of the Company pursuant to the Security Agreement, dated August 15, 1999, by and between the Company and SBI. The loan bears an interest rate of 6% annum and is due and payable on December 30, 1999.