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Thursday July 22, 9:03 am Eastern Time
Company Press Release
Strategic Acquisition Positions PanAmerican BanCorp to be an Innovator in the Training of Online Stock Traders
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--July 22, 1999--In a move designed to enhance its commitment of achieving market leadership in the explosive online trading industry, PanAmerican BanCorp (OTC BB:PABN - news) has announced its acquisition of Teachdaq, one of the country's leading stock trading training schools.
The acquisition will enable PanAmerican BanCorp to take advantage of a rapidly growing market by providing state-of-the-art educational services that integrate the Company's Internet and interactive technologies with Teachdaq's proven training techniques.
Teachdaq is a stock market trading school that is not affiliated with any brokerage and currently provides training for Insider Trading clients and for many other brokerages. ''The tremendous growth of the online trading industry is fueled by technology that enables investors to make their own investment decisions and execute their own trades,'' stated Frank Pugliese, founder of Teachdaq.
''Everyday more and more online investors realize how crucial education and training are to making successful investment decisions,'' Mr. Pugliese continued. ''The technological capabilities that PanAmerican BanCorp can infuse into the Teachdaq system will create a training program unrivaled in the industry.''
Teachdaq offers training programs for both the Level 1 trader, executing only a few trades through online brokers, and the sophisticated Level 2 trader trading through direct access companies such as Insider Trading. PanAmerican BanCorp will capitalize on the tremendous demand for Teachdaq's services by continuing to market the Teachdaq training system to individual and corporate clients.
In addition, the Teachdaq system will be one of the cornerstones of the Insider Trading franchise strategy. It is the intent of PanAmerican BanCorp to create an environment where traders not only come to execute trades but where they can receive the highest quality support and on-going training, whether they trade at Insider Trading offices or via the Internet.
PanAmerican BanCorp was initially formed to take advantage of undeveloped niches in international mortgage banking and to provide technologically advanced applications for the mortgage industry. Since then, PanAmerican BanCorp has branched into other endeavors, including: PanAmerican Healthcorp; Insider Trading, a security trading system for sophisticated investors; the development of a ''dot com'' division known as PanAmerican Internet Group; a joint venture with FirstStates Financial Services Corp. to form a federally chartered thrift institution; and a recently announced agreement with Healthwyz, Inc. to market the DigiBill(TM) product in North and South America.
Except for historical information, the matters discussed in this news release may be considered ''Forward-looking'' statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and involve a number of risks and uncertainties that could materially affect results.
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Contact:
PanAmerican BanCorp
Raymond Gamble, 516/951-1638 (Investor Relations)
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