PanAmerican BanCorp (PABN) Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)

PABN 0.00001000

0.0%

Mar 7 3:00 PM EST

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To: JOEY who wrote (40519)	8/20/1999 5:36:00 PM
From: jhild	Read Replies (1) of 43774

That is interesting news. So they will actually audit last year to state their financials for 1998 and then they will only do a review for all of the wheeling and dealing that has occurred this year. So you can bet that the 100 million share Reg D rake-off deal and the dizzying expansion in the number of outstanding shares will be treated as superficially as possible. It will only be a review for which they will simply sign a letter saying that "Yep the numbers that management told us seem to add up." When will there be an audit of 1999 results? As long after March 2000 as they can stretch it is my guess. That John Schmitz is a financial genius I believe some one once tried to claim hereabouts. It seems to me the only talent he really has is at evading a responsible accounting of the company's activities to the public markets into which all of this paper is flowing.

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