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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: ColleenB who wrote (38530)6/21/1999 11:12:00 AM
From: ColleenB  Read Replies (5) of 43774
 
The Company's Internet operations are vulnerable to interruption by

fire, earthquake, power loss, telecommunications failure and other events beyond the Company's control. There can be no assurance that interruption in service will not be materially adversely affect the Company's operations in the future[.] While the Company carries business interruption insurance to compensate then[sic] Company for losses that may occur, there can be no assurance that such insurance will be sufficient to provide for all losses or damages incurred by the company.

Year 2000 Compliance

Many currently installed computer systems and software products are coded to accept only two digit entries in the date code field. These date code fields will need to accept four digit entries to distinguish 21st Century dates from the 20th [c]entury dates. As a result, many companies' software and computer systems may need to be upgraded or replaced in order to comply with such "Year 200" requirements. The Company's expectations regarding Year 2000 remediation efforts will evolve as it continues to analyze its systems. Failure by the Company to resolve Year 2000 issues with respect to its proprietary products and services could have a material adverse effect[sic] on the Company's business, results of operations and financial condition. Furthermore, failure of third-party equipment or software to operate properly with regard to the year 2000 and there after could require PRWT[sic] to incur significant unanticipated expenses to remedy any problems.

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