Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: JAGUAR who wrote (1002)	3/25/1998 8:16:00 PM
From: Mike Farmwald	Read Replies (1) \| Respond to of 1521

We must be reading a different document... The 10K I read describes a complete disaster. No real sales in 97, out of cash (again) sometime in May 98 (maybe April if they spent any extra money on Rock City). Rock City is a total joke. Still no volume shipments of VSPA. They claim Compass sales by LG - my sources say not - we'll see. In the meantime, the preferred stockholders are shorting like crazy. Assuming they convert at about $2.00/share (92% of average stock price over 5 days), they will be shorting 3M shares over the next 3-4 months (60-80 trading days) or 40-50K shares per day shorted. Recently there have been 50-100K shares per day traded, which is really 25-50K (Nasdaq double counts - they count the buy and sell as different transactions). Thus by any measure there is a serious imbalance of buyers and sellers, resulting the recent price decline and implying more to come. Even if Panda raises yet more money in May, you're still looking at a 25% dilution (12M -> 15M shares), with much more to come. Send me the URL of the document you read with such optimism, I'd sure like to see it. Mike