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

To: Daniel Chisholm who wrote (1485)	5/18/1999 11:18:00 PM
From: Q.	Read Replies (1) \| Respond to of 1521

Daniel, I read the first part of the 8-k, but not all of it, since I have no position. (I almost shorted the stock a few weeks ago at $0.40, but I was talked out of it). It appears to me that Panda will no longer have any operations. They sold the computer business, and now they are selling their rights to the semiconductor and interconnect businesses. If that includes compass, then there's nothing left. They have come to a deal with Helix so that they don't owe anymore, and they came to terms with Angelo Gordon so that AG gets their shares. It appears to me that there are still debts Panda will still have. I would be surprised if they will be left with any working capital. Moreover, there are several lawsuits. Panda will have no way of generating cash that I can see, so it seems to me that they are still likely to go bust. The deal with Silicon Bandwidth: well, I didn't figure it all out, but I wonder if it isn't a scheme by which Helix just takes its collateral, which basically was all the intellectual property rights of Panda. (I think those rights don't include Compass, which I think belongs to Crane himself; Panda was given a share of revenues to Panda, while being burdened with all its costs; so what becomes of Compass I don't know. It didn't sell, anyway.) What the Cranes will be doing with their time, now, I don't know. If you are short, I suspect you could just sit and wait for it to finish going bust.