Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: jhild who wrote (40391)	8/14/1999 12:34:00 AM
From: jhild	Respond to of 43774

In order to survive the bank audit, John needs to be sure his financials are flawless and he has to be prepared to supply proper paper work to back all statements up. I am just compelled to wonder what John Schmitz is thinking here. Flawless financials? As opposed to what he expected to give the SEC - Flawed Financials? As opposed to what he was going to supply shareholders? Figures without substantiation? Statements that didn't observe FASB standards? The usual disclosure PABN/PRWT style just won't cut it with the Office of Thrift Supervision? HooBoy, what a thing to say.

To: jhild who wrote (40391)	8/14/1999 1:05:00 AM
From: jhild	Respond to of 43774

. . . the first internet based full service bank serving all accounts, except checking, . . . Oh my, now that is what I call a full service bank. Just what I look for in a bank - an institution that doesn't offer checking. Hahahahaha. It doesn't get any more full service than that. What a perfect bank. The money only goes one way. You can deposit it, but you can't write checks on it. Rather than deposit money, why not just buy PABN/PRWT stock instead. The money only seems to go one way there as well.

To: jhild who wrote (40391)	8/14/1999 2:05:00 AM
From: jhild	Read Replies (1) \| Respond to of 43774

Franchisees of IT also must take training courses that are approximately four weeks long. Included in the training is a one day Windows course for those not familiar with Windows or who need a refresher. At the end of the class they are required to pass a test. If they fail the test they are offered the course again, at no charge, and are given the test again. Let's see. They train people to be franchise owners that may not have any Windows experience. There's the first step then to establishing a successful franchise network - find people with no computer skills. Then train them for four weeks. Give them a test. If they fail, then train them again until they do pass. (Ooops, there goes another 4 weeks of training at no cost.)

To: jhild who wrote (40391)	8/14/1999 2:15:00 AM
From: jhild	Respond to of 43774

PABN does not own any patents for videophones. They are currently interested in using video phones as tools for training, support and communication. It is possible that they may in the future look into being a distributor for video phones. Well when Merv was around, videophones had a top billing. Now they will use them for just exactly what? They will be a distributor? Hey just add distribution into the string of businesses they are talking about being in.

To: jhild who wrote (40391)	8/14/1999 11:44:00 PM
From: jhild	Respond to of 43774

Here you go 1 year of evasion on the filing of financials. The list of references just gets longer and longer. And all of this from the company that says: "We are never too busy to respond to family." Hahahahahaha. (PABN/PRWT official translation: You can ask, but we won't tell you any real answers.) ragingbull.com 6/29/98: . . .I had a brief face to face meeting with John . . .Financial reporting is in the works with the accountants..the 2nd qtr ends this month June 30th, and the financials will be due out about 45 days after this date. #reply-5050846 7/3/98: quoted from the mouth of the resident tout: "Financial information and complete details on the company will be included in the 10Q for the period ended June 30, 1998 which will be filed with the SEC shortly." ragingbull.com 8/3/98: - Purewater's filings are almost ready and our accountants are busy consolidating the several new sets of books. #reply-9740000 9/23/98: Shareholder meeting summary: (facts only) FINANCIALS Q ends September 30th. They have 45 days to file, but plan on filing sooner. NO FIRM DATE. http://www.ragingbull.com/mboard/boards.cgi?board=PABN&read=1762 9/25/98: The Old PRWT books will close on Sept 30 1998. The old shares will be converted and exchanged one for one. PANBANCORP will be reporting with the 45 day limit. #reply-5837174 11/4/98: Finacials This was a key question that I pressed on many times. I could not get a firm commitment on that one. He does not have to do it, so he will do it when he can get the proper balance sheet and information in order. He did commit to releasing some sort of finacial data by the end of the year. #reply-6293989 12/3/98: Their priority right now is completing and reporting the financials. . . . The company says financials will be out in January and I believe them. #reply-6663698 2/24/99 birk: when do you plan to file financials with the SEC? [Moderator] RE: Financials: we plan to file before the end of Q2 [This comment appears as an answer about 10 times through out the transcript.] -------------------------- dguy: Please define what "end of Q2" means(date/deadline?) [Moderator] RE: End of Q2 is end of second quarter of the fiscal year; we are on an annual fiscal Comtec1: when does our first quarter begin ? A: PanAmerican BanCorp is on an annual fiscal year, beginning Jan. 1. #reply-8058651 3/26/99: - I am pleased to report we are well on our way to becoming a fully reporting company. To date, we have had our accountants thoroughly examining each division to insure its' compliance with FASB accounting methods. #reply-9740929 4/6/99: - We are near the completion of our internal review and audit. Each division has been held accountable for any and all monies advanced to it. We are putting together consolidations interim statements showing our complete financial picture. I think the outlook is positive. #reply-9740741 6/10/99: Our accountants are in the process of completing the preliminary financials of the company. As previously stated, we intend to report these financials on or about June 30, 1999. . . . The decision as to which fiscal year we will select will be announced after the preliminary financials are reported. #reply-10064211 6/29/99: - HevyTrader: 3 John which quarters will be reported in these financials John_Schmitz: Hevy: financials will be proforma, historical will cover one year we've been in biz: july 98-june 99 John_Schmitz_2: Captialization stage is when we capitalize the company to carry out the business plan. John_Schmitz: fianancials will cover ALL the subsids and will be comprehensive #reply-10322069 Oaktree: In what form with the financials be released John_Schmitz: Oaktree: what do you mean "in what form"- we think currently accepted accounting proceedures Life2Short: confidence level for on-time financials next week 1 -10 (10 equals highest) John_Schmitz_2: Life2Short: We're a 10. You can count on it. #reply-10322248 7/2/99: Then in August we will have Ken Christian live, so all your questions about our financials can be addressed. panambancorp.com 7/09/99: PanAmerican BanCorp has conferred with financial experts to affirm and confirm that the concept and theory behind the revenue numbers in our financial pro forma are valid. panambancorp.com Suppose there will really be a full audited disclosure by August 24th? Or just more of the same? Ooops. This news just in: 8/13/99: HeVy has gotten a response from John Schmitz: I can confirm that the financials will not be released before the August 24th Meet the Management meeting. They will not be complete and PABN does not want to release incomplete and unaudited numbers. ragingbull.com Good thing no one is in any hurry to see these financials. How is it that other companies manage to report?