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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: ColleenB who wrote (38376)	6/19/1999 4:18:00 PM
From: ColleenB	Read Replies (1) \| Respond to of 43774

Dependence on Continued Growth of the Internet: PRWT's[sic] future success is partly dependent upon continued growth in the use of the Internet generally and, in particular, as a medium for advertising, marketing, services and commerce. Commercial use of the Internet is at an early stage of development, and market acceptance of the Internet as a medium for advertising, information services and commerce is subject to a high level of uncertainty. The relative effectiveness of the Internet as an advertising medium as compared to traditional advertising media, for example, has not been determined. If commercial use of the Internet fails to continue to expand, PRWT's[sic] business, results of operations and financial condition would be adversely affected. Government Regulation and Legal Uncertainties PRWT[sic] is not currently subject to direct regulation by any government agency, other than regulations applicable to businesses generally. However, governmental regulators may apply such regulations to Internet activities. There are currently few laws or regulations directly applicable to access to or commerce on the Internet. Due to increasing popularity and use of the Internet, however, it is possible that a number of laws and regulations may be adopted with respect to the Internet, covering issues such as user privacy, pricing, characteristics and quality of products and services. The adoption of any additional laws or regulations may also decrease the growth of the Internet, which could in turn decrease the demand for PRWT's[sic] products and services or could increase PRWT's[sic] cost of doing business. Moreover, the applicability to the Internet of a range of existing laws in domestic and international jurisdictions governing issues such as commerce, taxation, property ownership, defamation and personal privacy is uncertain and will likely evolve over the course of many years. Any such new legislation or regulation or application or interpretation of existing laws, including tax laws, could have an adverse effect[sic] on PRWT's[sic] business, results of operations and financial condition. Rapid Change in Technology and Distribution Channels: Because of the use of the Internet as a commercial medium is relatively recent and continues to evolve, the market for PRWT's[sic] products and services is characterized by rapidly changing technology, evolving industry standards, frequent new product and service introductions, shifting distribution channels, and changing customer demands. Accordingly, PRWT's[sic] future success will depend on its ability to adapt to this rapidly evolving marketplace. There can be no assurance that PRWT[sic] will be able to adequately adapt its products and services or to acquire new products and services that can compete successfully or that PRWT[sic] will be able to establish and maintain competitive product and service offerings and distribution channels would have an adverse affect on PRWT's[sic] business, results of operations and financial condition. In addition, responding to these rapid technological changes could require substantial expenditures by PRWT[sic], and there can be no assurance that such expenditures will yield a positive investment return. Competition: The market in both the mortgage industry and the Internet products and services is highly geocities.com

To: ColleenB who wrote (38376)	6/19/1999 4:43:00 PM
From: ColleenB	Respond to of 43774

competitive and lacks significant barriers to entry. PRWT[sic] expects competition to intensify in the future. Numerous well-established companies and smaller entrepreneurial companies are focusing significant resources on developing and marketing products and services that will compete with PRWT's[sic] products and services. Many of PRWT's[sic] current and potential competitors have greater financial, technical, operational and marketing resources. There can be no assurance that PRWT[sic] will be able to compete successfully or that competitive pressures, including possible downward pressure on the prices it charges for its products and services, will not adversely affect its business, result of operations and financial condition. Low Barriers to Entry: The market for Internet-based products and services is relatively new, intensely competitive and rapidly evolving. There are minimal barriers to entry, and current and new competitors can launch new Internet sites at a relatively low cost within relatively short time periods. In addition, the Company competes for the time and attention of Internet users with thousands of non-profit Internet sites operated by, among other persons, individuals, government and newspaper publishers, cable television companies and start-up ventures attracted to the Internet market. Accordingly, the Company expects competition to persist and intensify and the number of competitors to increase significantly in the future. Should the Company seek in the future to attempt to expand the scope of its Internet sites and product offerings, it will compete with a greater number of Internet sites and other companies. Because the operations and strategic plans of existing and future competitors are undergoing rapid change, it is extremely difficult for the Company to anticipate which companies are likely to offer competitive products and services in the future. There can be no assurance that the Company's Internet site will compete successfully. Risks Inherent to PRWT's[sic] Acquisition Strategy: PRWT[sic] has in the past, and intends in the future, to expand though[sic] the acquisition of businesses, technologies, products and services. Acquisitions involve a number of special problems, including difficulty integrating technologies, operations and personnel and diversion of management attention in connection with both negotiating the acquisitions and integrating the assets. There can be no assurance that PRWT[sic] will be successful in addressing such problems. In addition, growth associated with numerous acquisitions places significant strain on PRWT's[sic] managerial and operational resources. PRWT's[sic] future operating results will depend to a significant degree on its ability to successfully manage growth and integrate acquisitions, furthermore, many of PRWT's[sic] investments are in early-stage companies, with limited operating histories and limited or no revenues; there can be no assurances that PRWT[sic] will be successful in developing such companies. Additionally, acquisitions may result in the potentially dilutive issuance of equity securities, the incurrence of additional debt, the write-off of in-process research and development of software acquisition and development costs, and the amortization of goodwill and other intangible assets. Security Risks: A significant barrier to electronic commerce and communications on the Internet is the secure transmission of confidential information over public telecommunication facilities. There can geocities.com