Return on Investment Calculator

I invested			Shares Dollars (USD)
on	Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec	01020304050607080910111213141516171819202122232425262728293031	200820072006

Calculate Current Value and Shares
Since: 11/17/2006

Investment Date:	Original Shares:	Original Value:	Current Shares:	Current Value:	Percent Return:
Nov 17, 2006	111	$ 1,000.00	111	$ 77.78	-92.22%

Adjustments

Date	Reason	Factor	Shares	Price	Value	%
Nov 17, 2006	Initial Investment		111	9.00	$1,000.00	0.00%
Aug 6, 2008	Current Investment		111	0.70	$77.78	( 92.22%)

The Investment Calculator page and related information is provided by Mergent, a third party service. Panda Ethanol Inc. does not maintain this page and is not responsible for the accuracy, completeness or timeliness of the information. The results are for illustrative purposes only and should not be relied on for investment purposes. The timing and price of dividend reinvestments, taxes, commissions and other factors may affect the values shown. Please note that historical investment performance is not intended to indicate future performance.

Last Trade	0.50
Change	- 0.20 (28.57%)
Volume	68,500
Close	0.70

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