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

To: Roger Bodine who wrote (40680)	8/26/1999 1:54:00 AM
From: jhild	Read Replies (3) \| Respond to of 43774

So let's see we were supposed to have Ken Christian explain the financials and answer any questions. But what happened was John Schmitz wrote an open letter. I distilled a summary of this letter below. I think it is interesting in what it says and what it doesn't say: ¶ one: The stock market is higher and the markets are more volatile. ¶ two: The fiscal year starts in February. ¶ three: In March we had a strategy meeting. ¶ four: We want our employees to be effective. ¶ five: Healthcorp shorted their development of Digibill to make sales and so we are not getting Digibill to market as we hoped. ¶ six: We have problems with Healthcorp back room operations that we are having FirstStates take care of. ¶ seven: Healthcorp did not meet revenue projections, but next year we should do $1.3M. ¶ eight: I-T is off to a good start that we want to figure out how to continue. ¶ nine: I-T has done almost $400K so far and we may do almost $700K by the end 1999 while we work on improving the business. ¶ ten: We will announce a plan to franchise I-T in Florida, but we won't talk about it. ¶ eleven: Results from Affordable Housing will be meager, but John will focus himself on this division. ¶ twelve: We are consolidating operations to save $72K over the next year. ¶ thirteen: We are streamlining our Human Resources Department. ¶ fourteen: Over the coming weeks we will release highlights of information about parts of our business. ¶ fifteen: Thanks for your support. panambancorp.com