Paradox formatted memo and ReportSmith

Ive created 3 Paradox tables of different Paradox version (Paradox 4, 5 for Windows and 7) with Database
Desktop 7 included in Delphi 2 Developer.
Every table has only one field (formatted memo).
Using a simple Delphi program (with a DBMemo and DBNavigator component), I have inserted some words into 2 or
3 records for each table.
Then, with ReportSmith 3.0, Ive created a simple form report for each table.
All three forms show only a little underline (_) in formatted memo field for each record, instead of my
Any idea why this happens?

P.S. I havent got Paradox software.

Thank you in advance.