X0303 4/A 2008-11-19 2008-11-21 0001167880 PANDA ETHANOL, INC. PDAE 0001380607 Boswell G Michael 4100 SPRING VALLEY ROAD, SUITE 1002 DALLAS TX 75244 1 0 0 0 Common Stock, par value $0.001 per share 7573 D On November 21, 2008, a Form 4 was mistakenly filed reporting an acquisition of 244,389 shares of common stock that did not in fact occur. As of November 19, 2008, the reporting person owned only 7,573 shares of common stock. Darol Lindloff, Attorney-in-fact 2008-11-25