Thanks very much for your response. Looks like i'm good to go with the plan as I will build a few more with stand. This makes my life easier when i need to move the panel around in my small room.
By the way, do you think it's good idea to put two more panels behind speakers (not directly behind but close to the gear stand)? I already have panels behind my listening position which is 3 ft from the back wall. When listening to classical music, i still hear a bit of echo but not very clear unless i put my mind closely to music..:)
Thanks again