Hi steve,

I was just advised of this and thought it would be of interest to
everyone. This seems to be such a sad and embarrassing course of
events.  A member of Golden Panda met with Clarence Busby yesterday
and posted a summary of her meeting with him in a Golden Panda
Forum. It is very much what I have hypothesized with those of you I
have chatted with and for those who may not have seen it here it is:

*********


My Meeting with Clarence Busby - 9/23/08

Posted by Susan Kimbrell on September 23, 2008 at 12:30pm

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Hey guys! I just returned home from meeting with Clarence. Wish I
had some good news but it's all true. Panda is officially out of
business.

This is what he told me:

A week ago last Friday Clarence and his attorneys had a meeting
with Cowden and his staff. At this meeting, Panda presented an
economist who proved to the government that Panda was not a Ponzi
scheme. Everything seemed like it was going to work out and that
Panda would soon be back in business. Then last week, they came at
Clarence with threats of prison for some trumped up SEC charges.
Being faced with years of litigation, hundreds of thousands of
dollars in legal fees and possible prison time, Clarence agreed to
drop his motion.

An agreement is being formulated between the attorneys for both
sides as we speak and will be posted on the website later today.
This should answer some questions and explain how/if we can get our
money back.

A batch of checks (ones that were received and never cashed) was
overnighted to the government last night. So, if you sent in a
cashiers check, call your bank to see if it has cleared, if it has
not, stop payment on it right away. There are no checks left at the
office.

Clarence also said that he suspects they'll use him as a witness
against Andy and ASD, but that the worst thing he has to say about
Andy and ASD is that the business wasn't run as efficiently as it
could have been. He has no plans to throw Andy or ASD under the
bus. He also stated that he believes ASD can win their case.

That's the recap of my meeting.


Have an awesome weekend steve!

Chad