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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme -- Ignore unavailable to you. Want to Upgrade?

To: WVMayor who wrote (4341)	6/14/1998 12:12:00 PM
From: Alan Lions	Respond to of 8798

PRWT info copied from Yahoo.... Top Dog does it again. PRWT - PanAmerican Bancorp is an international Mortgage Banking and Finance Company with offices in New York and Las Vegas (John Schmitz, Executive Mortgage Bankers (516) 232-2221, 300 Wheeler Road, Hauppauge, NY 11788). Its wholly-owned subsidiary, Affordable Housing Group. Ltd., is the first foreign company to be licensed to conduct mortgage banking in the country of Belize. There is currently a need to finance 6,000 new homes in Belize of which PRWT has agreed to commit to an initial subdivision of 1,800 homes. Mortgage financing rates in Belize are currently 18% with a 50% down payment requirement. Under the PRWT program in Belize, homes will be financed at GNMA rates plus 3 1/2% or 11 1/4% with a 20% down payment. The loans are guaranteed by the government of Belize and the pass-through certificates issued to investors will have a Standard & Poors rating of A. Loans approximate $33,000 each and the initial 500 loans will be primarily to US residents purchasing retirement homes. This makes underwriting simple. The government of Belize has requested that the program fund $10,000,000 in mortgages monthly beginning in September. The second country to follow Belize will be Costa Rica which has an immediate need for funding 7,000 new homes under the same type of government guarantee program. Other countries in Central America will follow shortly. Pan American Mortgage will receive an origination fee and an annual 2% servicing fee on the mortgage portfolio balance, a very lucrative business indeed for originating, warehousing and servicing government guaranteed mortgage loans. A second division will originate mortgage and equipment loans on a national basis through a network of 10,000 real estate offices and brokers using Internet Videophones and software patented by Visual Interactive Phone Concepts, Inc. Using Visual1s Videophone Mailbox Facility System, the Company is able to open virtual offices anywhere there is a dial tone. All the processing and back office work is done from the company1s Hauppauge or Las Vegas office. The Videophone is a combination of a digital phone, a keyboard, a credit card swipe and a display screen for the presentation of text, voice and visual images. A camera, printer and fax are additional options. The videophone based at a user station is connected to a central data center. One button initiates an interactive on-line session with user friendly screens. Functions include Internet access, home shopping, on-line banking, brokerage and leasing services, spread sheet processing and viewing of vacation resorts and department store catalogues. The marketing potential of these and other products is enormous. The system also replaces the need for a PC and no computer skills are necessary. Currently the Company has 540,000,000 million shares issued and outstanding. Approximately 70% of these shares are restricted leaving 162,000,000 shares in the float. Look for a name change in the very near future and positive EPS that will continue to increase with each passing month. The shares are a bargain at $.016 and should climb to $.20 rapidly.