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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: barbara sperino who wrote (29347)3/19/1999 8:38:00 AM
From: jhild  Read Replies (2) of 43774
 
I was told there is no way the company would be selling shares into the mkt.

Please Barbara, don't insult the intelligence of the readers here. I am quite sure that the company is not selling shares directly into the market here. But I have no assurances at all that the insiders themselves are not. There are any number of ways that the selling can occur and the company can benefit from that selling.

For instance here is a possibility. Maybe an insider, or group of insiders, even like John Schmitz and his cronies (remember that 400million shares they are supposed to have?), sells shares short overseas. Then he takes some of that money and lends it back to the company for operating expenses. Just maybe that loan is in the form of a convertible debenture. Oh my, that convertible debenture then gets converted into more shares again. Out comes another of these Press Releases, more selling into the volume from the interest generated and the cycle repeats itself. And this is just one possibility that makes his statement true as far as it goes.

Filing financials would draw the curtain back on a lot of this. Why do they refuse to file? Macy's not telling Gimbels anything? What's to tell? They aren't really competing with anyone as yet in any of these businesses. Why do they hide them from shareholders?

You said you have a theory about all of this share dumping. Why not run that one up in the air? Afraid that the breeze of reason is too swift to let your theory fly for long. Is it that you only prefer to float your nonsense in the safe indoor environs of your cozy little email club? Or is it that Spencer wouldn't approve?
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