From the desk of John Schmitz - July 9, 1999
PanAmerican BanCorp has conferred with financial experts to affirm and confirm that the concept and theory behind the revenue numbers in our financial pro forma are valid. Therefore, financial pro formas on PanAmerican BanCorp and its subsidiaries will be published early next week at the conclusion of this validation process. We, at PanAmerican BanCorp, feel that it is only prudent and responsible to publish the most accurate revenue and expense projections possible.
HAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!! That is just too sad.
PANAMERICAN BANCORP AND SUBSIDIARIES
Consolidated ProForma Statement of Income
Year: 1999 2000 2001
(Start-Up Year)
Revenues
Fees:
Insider Trading $692,000 1,798,500 3,210,500
Healthcorp 165,000 1,297,000 950,000
Affordable Housing 150,000 600,000 950,000
Equity of Earnings
of Joint Ventures 16,250 100,000 140,000
Other Income 1,200 5,200 25,000
Total Revenues
(Projected) $1,024,450 3,800,700 6,528,500
Expenses
Insider Trading 880,000 1,065,000 1,179,000
Healthcorp 658,000 936,000 1,020,000
Affordable Housing 72,000 108,000 144,000
Other Operating Expense:
Internet Group 612,000 450,000 450,000
Corporate 456,000 581,000 681,000
Total Expenses
(Projected) $2,678,000 3,140,000 3,474,000
Profit/(Loss) $(1,653,550) 660,700 3,054,500
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