FORM 4
( ) Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
See Instruction 1(b).
SECURITIES AND EXCHANGE COMMISSION _____________________
Washington, D.C. 20549 | OMB APPROVAL |
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |_____________________|
|OMB NUMBER: 3235-0287|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934 (the |BURDEN HOURS |
"1934 Act"), Section 17(a) of the Public |PER RESPONSE 0.5 |
Utility Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
Wooder, James T.A.
70 York Street, Suite 1700
Toronto, Ontario, Canada, M5J 1S9
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2. Issuer Name and Ticker or Trading Symbol
The Panda Project, Inc. PNDA
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
N/A
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4. Statement for Month/Year
August 1997
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5. If Amendment, Date of Original (Month/Year)
N/A
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6. Relationship of reporting person to Issuer (Check all applicable)
(X ) DIRECTOR
( ) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
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7. Individual, or Joint/Group Filing (Check all applicable)
( X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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TABLE I
Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security (Instr. 3)
Common Shares
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2. Transaction Date(s) (Month/Day/Year)
N/A
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3. Transaction Code(s) (Instr. 8)
N/A
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
N/A
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5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)
(a) 15,832; (b) 4,100. 19,932 in total.
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
(a) Direct; (b) Indirect
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
(a) N/A; (b) See Explanation (1) below.
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
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TABLE II
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., Puts, Calls, Warrants, Options, Convertible securities)
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1. Title of Derivative Security (Instr. 3)
(a) Options; (b) Options
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2. Conversion or Exercise Price of Derivative Security
(a) $42.00; (b) To be determined.
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3. Transaction Date (Month/Day/Year)
(a); N/A; (b) 08/12/97
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4. Transaction Code (Instr. 8)
(a) N/A; (b) A
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(a) N/A; (b) 4,000 Acquired
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6. Date Exercisable and Expiration Date (Month/Day/Year)
(a) 1,000 exercisable now; 500 more vest 08/09/98; final 500 vest on
08/09/99; all options expire 8/9/00.
(b) To be determined.
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
(a) 2,000 Common Shares; (b) 4,000 Common Shares
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8. Price of Derivative Securities (Instr. 5)
(a) Granted by Issuer; (b) Granted by Issuer
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
(a) 2,000; (b) 4,000. 6,000 in total.
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10. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 4)
(a) Direct; (b) Direct
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
(a) N/A; (b) N/A
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EXPLANATION OF RESPONSES:
THIS FILING CONSTITUTES THE FIRST ELECTRONICALLY FILED FORM 4 FILED BY THE
REPORTING PERSON, AND THEREFORE RESTATES CERTAIN INFORMATION CONTAINED IN
PREVIOUSLY FILED FORMS 3 AND 4.
(1) Of the 4,100 Common Shares, 3,100 are held in an account for the
benefit of Mr. Wooder's minor children and 1,000 are held in the name of
Mr. Wooder's spouse.
In accordance with Rule 16a-1(a)(4) promulgated under the 1934 Act, the
person filing this form declares that such filing is not to be construed
as an admission that such person is, for the purpose of Section 16 of the
1934 Act or otherwise, the actual beneficial owner of any of the securities
reported on herein.
/s/ James T.A. Wooder 09/02/97
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** SIGNATURE OF REPORTING PERSON DATE
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** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS. SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a).
