The U.P.M.S. Team, a group of homebrew developers, has released a new build for the application UPMSInstaller. Basically, this program gives you a clean memory stick for a fresh install.

So why would you want a clean memory stick? The team issued this further explanation:

If you already have either a Pandora or UPMS stick that is working, you can now choose to clean the stick and do a fresh install either as an upgrade or because you want to without having to write the IPL to the stick again or install the fatms371.prx.