To: Bill Fortune III who wrote (51 ) 8/16/1998 3:59:00 PM From: KSully Respond to of 97
From the GMT Newsletter dated August 10, 1998: "Pan American Motorsports (PONY:OTC) are getting into gear...I called their office earliar this week, one of their reps was in Germany (?). Perhaps some international sponsors are taking interest." "We have been followig this stock for about 3 weeks now, in general the stock has been trading sideways with some slow accumulation. The potential here is real, the next few press releases will shed some light on the companies plans for expansion. Its bottom fishing in this range". MESSAGE FROM THE PRESIDENT "Since 1982, I've been involved, in many different ways, in the business of motorsports. It is progressive and, due to rapid expansion, profitable. I am particularly proud to introduce this business to you, as an investment opportunity. The response we have already recieved both from corporate sponsors and the investment community - especially for our expansion plans of the American IndyCar Series within North America and then into the lucrative South American markets - is overwhelming. The market place is demanding this product; a series that allows both sponsors and racing teams an affordable entry into an extremely lucrative field, for a fraction of the cost. This is high caliber entertainment, in demand by a sophisticated public; with top notch drivers, high speeds, great cars and overall race action. This is your opportunity to get in on the ground floor. Although there is a high degree of risk, we believe the rewards, for those who participate now, will be great. We will keep you informed of our progress and deliver professional and timely information on all our company's developements, so that you make the right decisions regarding your investment with us. We look forward to working with you to build this viable, exciting, and solid business, from which we will continue to profit for years to come." OUR INVESTMENT IN THE FUTURE Pan American Motorsports, Inc.'s growth strategy is to increase revenue and net income by expanding the worldwide audience for the American IndyCar Series (AIS). The Company believes that it will continue to experience opportunities for increased sanctioning fees, sponsorship fees, broadcast revenue, licensing fees and royalties. The AIS Champianship battle will take place in three countries during the 1998 season. The Company has declared its objective to expand the AIS Series into Central and South American markets and expects to recieve higher sanction fees from the promoters of international race events, such expansion should result in an increase in internationally based sponsors for the Company and the race teams, as well as an increase in foreign driver and team interest. The popularity of auto racing in south america is so great that when Ayrton Senna, a Brazilian racing driver, was killed in a Formula 1 racing accident, the entire country closed down for three days of mourning. This gives an indication of how enthusiastic South Americans are about motorsports. In South America today, there are millions of auto racing enthusiasts who do not have the opportunity to see Indy Cars race at race tracks near their communities because the only Indy Car race held in South America is in Rio de Janerro. Broadcasts during the 1997 AIS season by ESPN-Mexico and TCI of the AIS races in Ensenada, Mexico and Rapid City, Iowa, confirms the remendous interest in television coverage of AIS events. Through the funding provided to AIS by Pan American Motorsports, Inc., AIS will have a production company film the races so that rights can be sold to cable/television networks." ---- Source: gmt@globalminerals.com KSully