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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 (38663)6/23/1999 7:45:00 AM
From: ColleenB  Read Replies (1) of 43774
 
Litigation

The Company has no known law suits filed against it.

PLAN OF DISTRIBUTION

The Directors and Officers intend to sell the shares of the Offering. There will be no sales commissions and any related expenses are immaterial.

The Company has agreed to pay sales commissions of up to ten(10%) percent of the gross sales price to all personas and entities legally entitled to accept such commissions. In addition, the Company has agreed to pay a non-accountable expense allowance equal to five(3%)[sic] percent of the total funds raised to defray the expense of this offering.

The Company proposes to offer the shares at the offering price set forth on the cover page of this Memorandum. Certificates representing the units shall be registered in the name(s) of the beneficial owner(s) as it appears on the subscription agreement and mailed to the address appearing therein.

Each subscriber hereof shall be required to complete a subscription agreement and other documents. The subscription agreement indicates the number of units to be purchased by the Subscriber, the aggregate Offering price and describes the terms of this Offering. The subscription agreement must be properly executed by the subscriber hereof and returned to the Company of PanAmerican Bancorp, at 300 Wheeler road, Suite 108, Hauppauga[sic], New York, with a check evidencing the purchase of the units payable to PanAmerican Bancorp. A copy will be returned to the subscriber upon acceptance of the subscription.

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