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

To: Mike Farmwald who wrote (1259)	5/15/1998 5:41:00 PM
From: Carl Yee	Respond to of 1521

Eventually they could end up like SWSHE, delisted. But that is a short ways off, after they get the E and their letter from NASD. Should be interesting as to what "rabbit" they find in their ever-emptier hat. Carl

To: Mike Farmwald who wrote (1259)	5/17/1998 3:51:00 AM
From: Q.	Respond to of 1521

Mike, the excuse re. renegotiating the preferred stock terms is just an excuse for being late. Reclassification of this security in May shouldn't affect any of the numbers for March. I guess they're just saying that they are too busy or more likely not organized well enough to meet their deadlines. If they miss their extended deadline by a couple of days, it will trade as PNDAE. If they are still delinquent approximately a month later, then they will be delisted. This doesn't happen very often -- it happened, as Carl said, to SWSH last week, because SWSH got in a spat with the auditor late in the process, and the auditor quit, leaving them no way to file their 10k on time, or even within a couple of months of being on time -- PNDA's case sounds like they could probably file tomorrow if they really wanted to, so I don't think this will happen to them.