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

To: ColleenB who wrote (38446)	6/20/1999 2:25:00 PM
From: PCModem	Respond to of 43774

"Well, here again, I think this could be subject to interpretation. There was no mention of minutes or that they were formally established, rather, that PanAmerican was "organizing". Couldn't this possibly be that they were forming the concept of PanAmerican? [note, I'm looking for a "loophole", advantage PABN] I agree that this is strange being that we are told that PanAmerican BanCorp was initially organized as a Limited Liability Company in 1996 #reply-9726329 and that they incorporated in Nevada in 1998 (http://sos.state.nv.us). " It is not a matter of interpretation. There are specific legal documents necessary to start a corporate entity (regardless of its form, Inc., LLC, Ltd., etc.) Those documents as a group are referred to as the organization documents. Without them there is no corporate entity. References to when a corporation was organized refer to when it began life. The corporation referred to in that Form D and PPM started life in 1985 (for the moment I'm relying on PatP's date...very busy today, will verify for myself as time permits). The NY LLC and the NV corporation are separate corporate entities whose securities are not being discussed in the Form D or PPM. The difference between a corporation, a limited liability corporation and other forms of corporate entities depends specifically on the laws of the state in which they are formed (for example California LLC's can have different structures than Nevada or North Carolina or South Carolina LLC's -- I know because I have done work on each of those kinds of LLC's). Generally, LLC's are owned by a limited number of people and managed (operated) by others who are usually not owners; generally LLC's cannot ever become public corporations; generally ownership in LLC's is spoken of in terms of percentage of membership, rather than numbers of shares; generally LLC memberships are considered "securities" but cannot be traded publicly under any circumstances. If you had done your homework assignment you would have found out some (if not all) of this for yourself. PCM GO PABN!!!