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

To: dumbmoney who wrote (1258)	5/15/1998 3:58:00 PM
From: Mike Farmwald	Read Replies (3) \| Respond to of 1521

Panda Mar. 30, 1998 10-Q is "out". Actually, they filed for a five day extension giving the following reasons: "The Company is in the process of negotiating material changes to the terms of the Series A Convertible Preferred Stock issued in February 1998. The Company believes that such changes will result in the reclassification of such securities from being mandatorily redeemable to treatment as permanent equity." I'm not sure what it means either. You can be certain it's not good for the stockholders... My guess is that they've slipped below the NASDAQ listing requirements and need to renegotiate the deal to somehow help. They are also out of money (again), by the way. Oh well, we should know more in 5 days. Mike PS Does anyone know what happens if Panda fails to file in 5 days? At some point they have to add a "E" to the symbol (PNDAE - such a nice ring to it), but I don't know the rules.