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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (7886)	12/5/1997 6:26:00 PM
From: up3up4	Read Replies (2) \| Respond to of 9285

Hi, Anyone is playing YHOO puts. I'll open a position of Jan 50 puts if it goes up on Monday. Any comment. Alex

To: Pancho Villa who wrote (7886)	12/8/1997 7:22:00 PM
From: CatLady	Read Replies (1) \| Respond to of 9285

Hi Pancho, My reason for shorting PNDA is that I can't see any chance of them being profitable anytime soon, and it seems likely that the only way they'll be able to stay in business at all is with another Reg. S security offering. From FORM 10-K, June 1997: Report of Independent Certified Public Accountants "The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company s recurring losses from operations and limited capital resources raise substantial doubt about the Company s ability to continue as a going concern. Management s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty." sec.gov Regarding the technology, On the server & workstation side I don't see anything compelling about their product designs that would attract customers, other than the spiffy external cabinets. The concept of modular/upgradable PCs has been around in different forms and has never taken off. The semiconductor packaging side is much harder for me to assess, but they've had the Compass connector and VSPA for a while and haven't generated much interest, much less revenue. The risk is that someone sees something in Panda's technology that is worth buying out the company. But I think there'd be substantial licensing revenue seen if that was a possibility. So, yes, CatLady says Panda is a dog. :-) Shorted some last week.