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

To: investor1 who wrote (12681)	8/26/1998 11:29:00 AM
From: jhild	Read Replies (4) \| Respond to of 43774

Sorry that I can't share your enthusiasm here. I have explained this before, but let me try again. First, it is good to see isoman be so diligent and I think that his effort is commendable. Unfortunately it doesn't address the points at issue with the Government of Belize. So let me quote from that Report from the Ministry of Home Affairs and Housing in regard to "Affordable Housing".: The Ministry of Home Affairs and Housing wishes to inform the public that the Government of Belize is in no way associated with this company nor has it given the company any mortgage guarantees. While the Government of Belize welcomes foreign investment, it will give its official approval to an investment project only after it has satisfied itself of the viability and genuineness of the project. The Ministry is not aware of any mortgage applications being processed by this company nor of any licence having been issued to the company by the Central Bank of Belize to conduct mortgage banking. Members of the public are therefore advised to exercise due prudence and diligence before making any investment with this company. belize.gov.bz That report very clearly indicates that the Government of Belize recognizes "Affordable Housing" as a company doing business in Belize. These papers show exactly that as well. What they do not show is any ability to process mortgages or any license from the Central Bank to do so. Only recognition that they are a company. But then we already knew that. What you as shareholders should be concerned about is that PanAmerian BanCorp is not the 100% shareholder here. Curious that John Schmitz has a personal stake of the action in what is supposed to be a wholly owned subsidiary. But hey, if it doesn't bother you, why should it bother me?