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

To: wlcnyc who wrote (40646)	8/25/1999 5:30:00 PM
From: jhild	Read Replies (1) \| Respond to of 43774

Here is some interesting analysis in the Affordable Housing numbers they filed in March with their Form D. If you look at the number columns I excerpted below, you will note what I have labeled Dec (the fourth month from the end of their pro forma exhibit) shows precisely John's stated estimation of their revenues. $150K gross a little more than $70K profit. Now note that making those numbers, according to their own figures, are apparently predicated on their already doing 30 house closings a month as well as adding 30 new applications and processing 30 applications each month. Aug Sep Oct Nov Dec Total (Cal '99) no. houses 30 30 30 30 30 app. fees 3000 3000 3000 3000 3000 processing 3000 3000 3000 3000 3000 committment 3000 3000 3000 3000 3000 origination 3000 3000 3000 3000 3000 points 20250 20250 20250 20250 20250 total 32500 32500 32500 32500 32500 150000 Net 24750 24750 24750 24750 24750 Cumulative 79300 Note that the majority of the projected revenue is coming from points. ($20K a month revenue would be consistent with their receiving 2 points on the $1 million a month as claimed.) For 30 houses this comes to an average mortgage placement of $33K. So for them to be doing these kind of numbers that John Schmitz has stated, they should already be placing $1million a month in Belize alone. Yet all they have announced down there is two houses of as yet undeclared completion. What is it about PABN/PRWT that makes me suspicious that they are even yet not on plan to achieve the kind of numbers in their own pro forma? BTW, just who is guaranteeing these loans per John Schmitz statement? geocities.com