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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: ISOMAN who wrote (29823)3/25/1999 6:00:00 PM
From: ISOMAN  Read Replies (1) of 43774
 

TO: BARBARA SPERINO (29666)
FROM: ISOMAN
TUESDAY, MAR 23 1999 10:40 AM ET
REPLY # OF 29827

FIRST I MUST SAY THIS..

DISCLAIMER I AM NOT SUGGESTING A SHORT SQUEEZE IS POSSIBLE

OK WITH THAT OUT OF THE WAY.

HERE IS THE REASON THE PRICE CONTINUES TO DROP.

99% OF THE BROKERAGES STILL HAVE NOT CONVERTED THE PRWT SHARES TO PABN. MOST OF THEM HAVE COMPUTER SYSTEMS THAT UPDATE THIS SORT OF THING. THIS METHOD CAN TAKE AS LITTLE AS 6 DAYS TO ACCOMPLISH AND AS LONG AS 30 DAYS. IT ALL DEPENDS ON THE BROKERAGE.

NOW HERE IS THE CLINCHER.

SINCE EVERYONE OWNS SHARES OF PRWT (TO BE CONVERTED TO PABN) WHAT THE COMPUTERS SEE IS A STOCK THAT IS NO LONGER TRADED . THE BROKERS (HUMANS)KNOW THAT THE SYMBOL IS ABOUT TO CHANGE, BUT THEY CAN'T ACTUALLY SELL THOSE SHARES (PRWT)

SO....
IF A PERSON CALLS UP THEIR BROKER TO SELL SOME PRWT (CAN'T DO IT ONLINE, GO AHEAD TRY IT)

THE BROKER THEN SEES THAT THE SYMBOL IS ABOUT TO CHANGE TO PABN. SO WHAT DOES HE DO....HE SELLS PABN SHORT AND COVERS THE SALE WITH AN EQUAL NUMBER OF PRWT SHARES.

CALL YOUR BROKER AND SEE IF I AM TELLING THE TRUTH.

SO GUESS WHAT BOYS AND GIRLS...

EVERY SHARE OF PABN THAT HAS BEEN SOLD TO THE MM HAS BEEN A SHORT SELL.

NOW DON'T GET EXCITED ABOUT A POSSIBLE SHORT SQUEEZE, BECAUSE ALL OF THE SHORT POSITIONS ARE COVERED BY PRWT SHARES.)


Also, I encourage you all to call the Transfer Agent. Ask them

#1 how many authorized (1.1 BILLION)

#2 how many outstanding (684 MILLION)

ALSO, NOTE THAT THE NUMBER OF SHARES SOLD BACK TO THE MARKET MAKERS SINCE MARCH 9TH , DO NOT EQUAL THE NUMBER OF SHARES SOLD AT THE ASK.

ERGO, THE mm HAVE ALSO NAKED SHORTED SOME SHARES TO FILL BUY ORDERS.

APPROXIMATLY 15 MILLION BY MY COUNT (YOURS MAY DIFFER)
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