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

To: ColleenB who wrote (169)	6/16/2000 1:57:00 PM
From: ColleenB	Read Replies (1) \| Respond to of 188

News and Updates June 16, 2000 Filing of Audited Financials PanAmerican Bancorp, Inc., in conjunction with our independent auditors, Covati and Jahnsen, CPA's, P.C., have been aggressively proceeding with the task of completing the audited financials by the earliest date possible. The most recent status of our financials, according to the firm of Covati and Jahnsen , CPA's. P.C., is that all tasks that involve proprietary information under the direct control of PanAmerican are being audited.ÿ The consolidated financials for PanAmerican and all subsidiaries, are dependent on some information being supplied by third parties which have yet to be received.ÿ In addition, prior to the consolidation of the PanAmerican books last summer, certain information was kept at remote locations.ÿ This information must also be obtained and verified.ÿ These items are needed to complete the audit and have resulted in the delay in completing the filing process. Lastly, the June 15th date represented the deadline imposed by the SEC for all remaining OTC:BB companies yet to file their audited financials.ÿ This date has no relevance or impact on PanAmerican BanCorp as we no longer trade on the OTC:BB.ÿ While we hoped to have had this task completed by this point in time, we fully intend to have the audited financials completed by the earliest possible date in order to qualify to regain OTC:BB status.ÿ panambancorp.com