On the contrary, I want everyone to look into all angles of everything about the companies they want to invest in.
I realize that PRWT is a bb stock, and that not everything can be verified. I like to get as much as I can.I know that you only accept things in print.
I am a little more liberal, and will evaluate what companies tell me.
Sure there are scams out there. Out of 6300 otc stocks, the odds just dictate it. Then again, I have seen full board Nasdaq stocks end up being scams, as well as TSE stocks. Who can forget BRE-X.
I just don't view all of them as scams. I also don't view all of them as gold mines either.
When I invest in the pennies, I know the risks. Hopefully everyone here does too.
I like PRWT as a possible win. IT's too early to know everydetail, as much as some would like.
I called some people in the banking industry in Long Island. They knew who John Schmitz was, and spoke highly of him.
Now if that were my only source of DD, I would really be asking for it.
I dug around, and for now I am satisfied that we are not dealing with a scam.
Of course the Belize government site caused some concerns. It should have. On the one hand the web master of the belize government web site stands by what he has said. On the other hand, I talked to one of the builders in a subdivision in belize and he confirmed that building is going on as we speak. Panamerican is getting the financing for them. Realty Money Centers, Dave Williams, also confirmed that they would be putting the mortgages in place.
All that leads me to believe is that a deal is in place in Belize, and it is involving Pan American somehow. Perhaps, Hubert Elrington was over Zealous and made guarantees on loans, that he needed to get some other authority to okay first. Who knows.
I take the stock for what it is. A penny stock that holds promise to become a successful mortgagor, direct trader, etc. Will they pull it off......well, that's the million dollar question. From my opinion, I think they hit the ground running. Others may not think so. Last time I called the transfer agent there were 630 people who agreed with me at the time.
As far as a reverse split. At this time John Scmitz said it wasn't planned. We all know that these things can and do happen.Thats part of the risk, isn't it.
I would think a reverse at this precise moment in time would be a waste of time. If they were gung ho to get on the small cap nasdaq, maybe, but, the stock has other criteria to satisfy, besides the $4.00 small cap target. There is the $750,000 net earnings to file. There is the 50 million market cap for a year.
So logic tells me that they won't reverse for a listing at the moment.
Another reason splits happen, is to free up shares for acquisitions. Pan American still has roughly 150,000,000 left in restricted stock that they could use for buying assets, so they are not starving for shares yet.
The other reason that companies do reverse splits, is to attract more buyers. I don't feel they are concentrating on that at this time either.
Of course some companies reverse split, just to bilk money from investors. I think HCCA just did that. a 1000 for one split.(I could be wrong)
I've talked to a lot of the current shareholders. I think they all know what they are involved in.
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