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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.00Dec 18 4:00 PM EST

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To: Howard C. who wrote (43745)1/25/2001 6:52:26 PM
From: ColleenB   of 43774
 
here are the posts that prompted such a reaction by Bill Black....

You're right SoccrT, I just made it up I must have a pretty good imagination to come up with the details about what I posted. Why don't you check and see if PABN and it's affilitates had all of their accounts at the Commercial Bank of NY, 72nd St. branch. Why don't you call Susan Baron, the Asst.VP in charge of the accounts and ask if you can cash a check a $100 check. Do you think a real company might keep that much in reserve in their account?
ragingbull.altavista.com
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For those who unloaded, its only begun. Mr. Schmitz dramatically increased the number of outstanding shares by selling new shares at a discount to a select group of investors. While most normal shareholders are trying to recoup some of their investment or ,at least to minimize their losses, these preferred investors profitted and they will profit again.

The PR stated "new financing". New financing means new shares. Mr. Schmitz will go back and issue new shares at a substantially discounted price. These preferred investors will then so what you have seen these last few days, sell off their shares to unwitting people at artificially high prices that they helped create.

The run is never over, you just never know when certain people want to sell or when Mr. Schmitz needs to play golf in Ireland again.
ragingbull.altavista.com
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When Mr. Schmitz decides to file which is never. He is refusing to turn over financial documents such as bank account records because he does not want the judge to see he has bounced 100's of checks. Do you think he may have a problem with the SEC with his stellar financial history.

What amazes me is how the bank allows him to keep the accounts open. Someone should check with the compliance dept. at Commercial Bank of NY to see. Maybe a call to the NY State Banking Dept. was already made regarding the Commercial Bank of NY regarding the multiple PABN accounts that it has.
ragingbull.altavista.com
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