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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: *ROSARIO* who wrote (21558)1/2/1999 8:36:00 PM
From: LegalBeast  Read Replies (2) of 43774
 
Now here is a real jewel of a post:

" When you consider PRWT has 750 MILLION authorized shares that is light volume. There is no way this company is worth 20 million dollars. With PRWT continuing to stall the financials they could be printing more shares in order to cover expenses do to lack of revenues. IMO, PRWT is over ONE BILLION AUTHORIZED shares and a reverse split is imminent. THOUGHTS? "

When Rosie said that they could be printing more shares, she was suggesting that the company is in the process of doing something that is completely illegal. Again without any backup whatsoever, she accuses. Totally Irresponsible!

Then she goes on to state that in her opinion, PRWT is authorized over one billion shares. Again irresponsible, since the articles of incorporation do not allow that many shares. You see, to be authorized, the shares need to be in the articles of incorporation, and to add them takes a shareholder vote.

If Rosie actually had any evidence of such an action by the company, then the place to take it is to the SEC, not to the thread to try to scare folks. But did Rosie offer proof or try to take it to the SEC? Nope, not at all.

Totally irresponsible. THOUGHTS?
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