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Microcap & Penny Stocks : WestAmerica Corp. (WACC) -- Ignore unavailable to you. Want to Upgrade?

To: Stepper who wrote (346)	7/15/1998 4:21:00 PM
From: JimmyT	Read Replies (1) \| Respond to of 749

Watching, Waiting... I'm confident in this being a good investment. I just hoped for a little faster action than we are seeing. Been in at $.02 for a month, and am biding my time. Good luck to all...

To: Stepper who wrote (346)	7/16/1998 1:49:00 PM
From: JOE TURMAINE	Respond to of 749

Stepper, >> Here is "my" typed copy of the release. >>WESTAMERICA SIGNS EXTENSION AGREEMENT, RECEIVES APPROVALS FOR TIMESHARE DEVELOPMENT ORLANDO, Fl - July 16, 1998- WestAmerica Corporation (OTC:WACC) announced today it has extended the closing date to August 10, 1998, with Dr. James P. Gills of Tarpon Springs, Florida, to purchase the first 35 acre tract of its 285 acre development located in Polk County, Florida, within a 10 minute drive of Walt Disney World. Daniel M. Boyar, chairman and chief executive officer of WestAmerica said, "WestAmerica has recently received unanimous approval from the Polk County Commission for the Company's land use plan and is eager to complete the acquisition of the land from Dr. Gills and commence construction." Mr. Boyar continued, "the Company now has approval for 750 units (39,000 timeshare weeks) to be built and sold as timeshare on the property and the first phase, consisting of 162 units (8,424 timeshare weeks) built on 35 acres, will give us a rapid start in the dynamic Orlando market. Based on RCI Consulting's feasibility study we expect a sellout in excess of $460 million over a 10-year period bringing 20% to the bottom line, pre-tax" WestAmerica's timeshare resort will include single-family homes and villas, some featuring 3 bedrooms, 3 baths, with heated pools & spas, with an 18-hole championship golf course and complete resort amenities-the first project of its kind developed by a public company. WestAmerica Corporation, a leisure industry company, is in the principal business of developing vacation ownership (timeshare) destination resorts.<< Followed by the usual disclaimers!!!! JOE <<