Part I: Updated Answers for the Interactive Meeting 2/24:
The following is a transcript of the PanAmerican Virtual Open House held on Feb. 24. It has been edited for clarity. Over the next few days, PanAmerican Internet Group will be meeting with John Schmitz and other PanAmerican executives to answer the outstanding questions. The additional answers column are responses from John Schmitz, President, PanAmerican BanCorp, and was updated on March 3 and 5, 1999.
Questions - Marked in questioner
Answers given in Open House 2/24 - Marked with <Moderator> or <Jeff>
Additional answers - Marked with A:
<Moderator> Thank you for joining us. Due to the delay, we will run the chat past 2:30PMEST. Please address all questions to the Moderator by typing "/msg Moderator(type your question here)" without the quotes or parens
Paul When will Pan American bust a MOVE?
A: I don't know what this means
Guest70152 What mergers are not finished?
A: If mergers are not finished or in negotiations, we can not discuss them in this forum. Company policy will not allow us to comment on rumors or guesses.
faqsnlojiks Do you foresee any reverse-split in the future?
A: Please refer to the Open House recap letter for information regarding this topic.
petersene What are the timelines for SEC filing? Also upcoming press releases, and projects currently that you are most excited about. Thanks.
A: We will be compliant with all rules regarding files, etc.
mhall can someone give us a rundown on the housing division and its status?
A: Belize is coming along nicely. The web site will provide updated information.
Rey When do you expect financials to be out?
<Moderator> Regarding financials, we expect to file financials before the end of Q2
coaster123what is the financial status for RMC?
A: RMC is currently undergoing an internal audit by our accountants.
jeffhansen Is a reverse split planned or a share buyback?
A: Please refer to the Open House recap letter for information regarding this topic.
Kenny Who will head up the IR dept?
A: We are interviewing several candidates, as soon as we decide and reach our agreement you will be notified.
Rey When will financials be out
<Moderator> Regarding financials, we expect to file financials before the end of Q2
Guest70152are there revenues and from what sources?
A: Each division produces revenues. We still supplement some divisions, such as Affordable Housing and Healthcorp. However, the revenue stream is increasing for everyone and we will not need to supplement the divisions or fund expansions forever. The revenues are produced from operations.
Affordable Housing/Alpha National Building Society
Sales of homes at Ridge Lagoon Estates
Financing homes at Ridge Lagoon and elsewhere in Belize
Insider Trading
Charges for trades made by the traders
Healthcorp
Contracts for collective from doctors and medical groups
RMC
Mortgage closings
Internet Group
Web site hosting and development
Internet services
Computer services
Video conferencing
mhall Did you see my question about the housing division and its status?
A: Yes, we did.
Iron when is the next pr release date?
A:
We expect to have a press release about the success of the Open House next week.
petersene Any thoughts of a stock buyback program?
A: We explore most alternatives while deciding on a course of action. We don't have our plans yet as we are still collection data on some situations. When we know what will happen, we will inform everyone.
Chazbo Is the CEO of PRWT here?
<Moderator> The CEO of PRWT is here, John Schmitz
Comtec1 are we going to be seeing more press releases ?
A: Yes, certainly.
PCModem What symbol(s) have been requested?
We do not know what symbol will be assigned.
Bill Can you tell us when the ticker will change and what it might be??
A: We hope tolet you know soon.
sometimes I'm curious about the new Internet Division and the ISP... what stage is this division in? Do you have customers already? Will it be mostly businesses? Any projections?
A: PanAmerican Internet Group, Inc. is the official name of the division. It is the newest division of PanAmerican BanCorp. We offer commercial and personal hosting and will offer dial-up access soon. We currently have web site development and web site hosting customers.
dguy please give date for "end of Q2"
<Moderator> RE: End of Q2 is end of second quarter of the fiscal year; we are on anannual fiscal
PCModem will ANY financial info be released before they are officially 'filed'?
A: We have releasedcertain aspects and contract information
Racerx Will there be a one for one exchange of PRWT to Panam shares??
<Moderator> RE: NAME CHANGE: one share of PRWT will equal one share of PanAmerican. You will be notified of the change.
Iron What will the next PR be about?
A: We expect to have a press release about the success of the Open House next week.
Chazbo How many of the 20+ deposits are for the $100K HOMES?
<Moderator> Regarding deposits on the homes in Belize, most of the deposits are for homes valued at $100K+
mhall please have John fill us in on PRWT's outlook for the coming months
A: Please see our Open House Recap letter. We will announce historical information. Our opinion of the outlook should be irrelevant, if we feel anything other than positive we should be somewhere else. Our opinions are not what should be looked at or relied upon. Anyone interested in a company such as ours on the Bulletin Board should only be investing risk capital. If you feel we have accomplished something in the mine months we have been operating as PanAmerican in the public arena, follow that thought. If you feel we have done nothing, follow that thought.
Rey Is Pink Pig still hosting your site or is PanAM Internet Group
A: PanAmerican Internet Group will assume responsibility for maintaining, developing ,updating and hosting the PanAmercian BanCorp web site.
<Moderator> Many answers to the questions regarding finanicals and financial information is already posted on the PanAmerican web site. Additional questions will be answered after this session.
coaster123Is RMC generating revenue for PanAm?
A: RMC is generating revenues and reinvesting into the infrastructure. To date there has been no revenues passed through, however, we have increased the back office and support abilities substantially.
Comtec1 how about press releases, can we expect more?
<Moderator> Regarding press releases, we plan on releasing information as it happens.
faqsnlojiks How many employee's does panambancorp (as a whole) employee?
<Moderator> RE: PanAm employees: 50+ current employees in all divisions.
Paul Why are there so many outstanding shares? Is that number to shrink sometime?
A: Please see our Open House Recap letter for this information. We took over PRWT and the existing shares. We are working within the framework we inherited. As we grow we can expect some changes. We do not know how things will change yet.
dguy actually, the questions are not yet "answered" Any date for "end of Q2?"
<Moderator> RE: End of Q2 is end of second quarter of the fiscal year; we are on an annual fiscal
PCModem tell John to get back into camera range
A: OK
BARB when is the Boca Office opening?
<Moderator> Regarding the Boca office of Insider Trading, there is a seminar this weekend where over 50 people have signed up.
Rey When is the Boca Office opening and when can we see it
<Moderator> Regarding the Boca office of Insider Trading, there is a seminar this weekend where over 50 people have signed up.
Racerx Is he RMC acquisition complete??
A: RMC is now a wholly owned sub. We have continuing obligations on both parts that extend out.
ERRAFF When can we expect the symbol change
A: We do not know what symbol will be assigned and we hope to let you know soon when the change will take place.
hunter There have been many rumors about a desire for a NASDQ listing. Are these rumors true, and if so what plans do you have to meet the listing requirements; particularly with respect to share price??
<Moderator> RE: Nasdaq listing: it has always been a goal to get off the bulletin board. We are getting there as quickly as possible.
mack when do you expect the new trading symbol to be ready
A: We do not know what symbol will be assigned and we hope to let you know soon when the change will take place.
Iron when and what is the next thing that is going to happen?
A: I'm getting lunch
petersene Any thoughts of a stock buyback program?
A: We explore most alternatives while deciding on a course of action. We don't have our plans yet as we are still collection data on some situations. When we know what will happen, we will inform everyone.
l888l will there be a share buy back
A: We explore most alternatives while deciding on a course of action. We don't have our plans yet as we are still collection data on some situations. When we know what will happen, we will inform everyone.
<Moderator> All questions are being addressed to the Moderator; we are taking the transcript and answering add'l questions after the session
spector Is this a fly by night company or do you plan on testing things before you endeavor them in the future?
A: I don't understand your question.
Rey When will we see commercials in South Florida and what channel
<Moderator> RE: Commercials in SoFL- you will be able to see commercials this week
Coop Will IT be going online like E-trade so that many of your investors can use this service?
A: It is planning to expand its services on the Internet. We have purchased more equipment and after the Boca office is up and running this week we'll work on it.
Bill This can really be great way for communications once you get use to it
A: Yes, thank you.
mhall Pleasecan we have each of the divisions give us a quick rundown of where they stand?
A: Please refer to the PanAmerican web site and the respective sites for the subsidiaries. There will be more frequent updates.
Racerx Will Panam acquire/merge with NHLT?
A: Unknown.
Iron How many people are employed under Pan American?
<Moderator> RE: PanAm employees: 50+ current employees in all divisions
ISSME what are share price predictions for the future?
A: We cannot predict the future.
eposca when is the end of the second quarter
<Moderator> RE: End of Q2 is end of second quarter of the fiscal year; we are on an annual fiscal
linemover If i'm a potential investor, how would you convince me to buy your stock?
A: You would have to make that decision on your own.
Rey What Channels for commercials and what times
A: IT commercials run on local cable operators CNBC channel. Each area is different. In Nassau/Suffolk, CNBC is Cablevision channel 24. In Boca Raton, Comcast Cablevision has several different local CNBC stations.
PCModem why is IT link not working?
<Moderator> RE: IT Link- IT has a hardware problem
petersene Which division is currently producing the highest profit? Which has the greatest potential?
A: Each division feels that it will contribute the greatest to the company. Time will tell which does.
lurker There are quite a few outstanding shares, are you planning a reverse split any time soon?
<Moderator> RE: Reverse splits: we still do not have plans for a reverse split
riley have you selected a site for the Las Vegas Trading room?
A: We are looking at several locations in Las Vegas. We do not have any one picked yet.
Bill could you tell us the exact float and outstanding shares/ There are a lot of different numbers out there Thank You
<Moderator> RE: Outstanding shares: currently outstanding are approx. 820,000,000
Please seethe Open House Recap letter.
coaster123How can you get a Nasdaq listing without a reverse split?
A: There are several alternatives available. We are exploring options.
Guest80175what do you expect first year net profits to be at this point?
<Moderator> RE: net profits: it is not possible to predict our net profits at this time
Racerx When will Marketing for PowerX commence?
A: Please stay tuned for information.
PCModem tell John we are so proud of him and what he is doing!!! Same goes for Everyone else at the company and all the subsidiaries!!!
A: Thanks.
Iron What do you believe will be Pan Americans most profitable division?
A: Each division feels that it will contribute the greatest to the company. Time will tell which does.
Kunundrum Are you going to be Nasdaq Compliant and are you looking the move to the nasdaq big board?
<Moderator> RE: Nasdaq listing: it has always been a goal to get off the bulletin board. We are getting there as quickly as possible.
petersene Which division is currently producing the highest profit? Which has the greatest potential?
A: Each division feels that it will contribute the greatest to the company. Time will tell which does.
ERRAFF When is the scheduled Grand Opening for the Boca Office
<Moderator> RE: Opening of Boca Office: Boca is opening this weekend, however no festivities are planned
ISSME Does PanAm own any substantial assets?
A: Each division is a substantial asset.
Comtec1 is a stock buy back a possible option ?
A: We explore most alternatives while deciding on a course of action. We don't have our plans yet as we are still collection data on some situations. When we know what will happen, we will inform everyone.
Bill has the reverse merger with RMC been completed??
<Moderator RE>: RMC: RMC is a wholly owned subsidiary
lurker Who are we viewing on the video stream?
A: John Schmitz, Laura Bykowski, Bill Black, Jeff Fleischer, Ray Gamble, Offices of RMC
Guest93655based on that number of outstanding shares, would you say this limits the upside potential?
A: We have no control over the market price. We are continuing to build a fundamentally sound company.
JJL203 ARETHE COMMERCIALS STILL RUNNING IN THE NJ AREA?
A: I am unaware of commercials running in NJ.
Jakin Is a reverse split being thought of...maybe stock buyback? How will you get the price up to get the Big Board listing?
<Moderator> RE: Reverse splits: we still do not have plans for a reverse split
Henster can you give us a breakdown of the stock (authorized shares, company owned shares, restricted shares etc.
A: Please seethe Open House Recap letter for additional information.
hunter With so many irons in the fire, your resources, both human and financial, must be stretched to the maximum. In which of the various ventures do you seethe most potential for return in the next 12 months, and in which areas are you focusing your resources?
linemover are all off your divisions currently making profits, if not, what timeframe do you see this company making money?
A: Each division is generating revenues. Most of the revenues are being reinvested into the growth of the divisions. As we finish building our infrastructure there venues can be redirected.
GVII 820,000,000outstanding shares, then how many total authorized shares?
A: Please seethe Open House Recap letter for information on this topic.
JT what is the size of the float, authorized, outstanding shares?
A: Please seethe Open House Recap letter for information on this topic.
mhall are there plans to open more insider trading offices, and where?
<Moderator> RE: Insider Trading: there are plans for additional offices. We are unable to divulge any additional information at this time
dguy re: RMC. If wholly owned (hey I believe you) what needs finalization?
A: Our agreement includes services going forward, such as licensing in states, new offices, and growth capital. These issues are ongoing and last up to three years. However, the contracts are signed and RMC is a wholly owned subsidiary.
faqsnlojiks850Million outstanding!! That 's much more than last reported! what is the float/authorized?
A: Please seethe Open House Recap letter for additional information on this topic.
ISSME Will PanAm be buying back any of the outstanding, or have they already?
A: Please seethe Open House Recap letter for additional information on this topic.
mmorris Any reason for the volume increase lately
A: The reason the volume increases is more people buy and sell the stock. That is beyond our control and focus.
Comtec1 does the company have any idea how many shares are actually not held by the company or investor (approx) ?
A: Please seethe Open House Recap letter for additional information on this topic.
Guest93655at $3 for example that's almost a $2 billion capitalization
A: What is?
mmorris Are you planning a Reverse Stock Split to get on NASDAQ
<Moderator> RE: Reverse stock split: there are no plans at this time
Arren are there any financial information available about this company or something that i can receive in the mail?
A: Most of the information is or will be available on the web sites. We will send mailing as per regulations.
JohnR Any intention of pursuing legal action against internet bashers deliberately spreading false information?
<Moderator> RE: bashers: Please only listen to official information from the company. There are many rumors on other web sites that should be ignored
linemoverIs there any plans for company to buy back any outstanding Shares?
A: Please seethe Open House Recap letter for additional information on this topic.
Racerx How many providers does Panam HealthCorp provide Medical Billing Services for?
A: Currently there are 5 contracts signed with more in negotiations. The signed contracts should provide revenue of the Healthcorp of over 300,000.
Guest93655"at this time??"
A: I'm sorry, I do not know what you're referring to.
Bill The video phones? Are they being distributed/sold yet? If so, how many. If not, when are sales anticipated?
A: We do not plan to sell videophones. We will use them as a tool where applicable. Currently the programming for use in mortgage application is almost complete. We have started some health care applications and some other programming as well.
Since we now have Larry Roof, we hope to accelerate our programming issues.
Guest18368when will the company become fully reporting?
A: The company will comply with all rules regarding reporting. Bulletin Board companies are being required to become fully reporting this year.
eposca will there be a buyback of shares?
A: Please seethe Open House Recap letter for additional information on this topic.
Guest93655btw, I love this video/chat format, nice job!
A: Thank you.
PCModem how many press releases are scheduled for the next couple of weeks
<Moderator> RE: Press Releases: We expect some additional information to be released in the near future
BARB cuisp do we have a new one yet and name change
<Moderator> RE: NAME CHANGE: one share of PRWT will equal one share of PanAmerican. You will be notified of the change
Jakin What is the current Belize situation?
A: Everything is progressing as planned in Belize. Check the Affordable Housing Group web site for the letter from Hon. Remijio Montejo, Chairman of National Assembly Committee of Housing and Education.
Affordable Housing Group has finished the two models. We currently have over 50 parties interested in purchasing houses in the $50-100K price range, and at this time we have taken over20 deposits for houses.
<Moderator> Regarding depositson the homes in Belize, most of the deposits are for homes valued at $100K+
There are new photos of the finished model homes on the web site.
JT the size of the float is?
A: Please seethe Open House Recap letter for additional information on this topic.
Comtec1 thank john and for the great job he does for us and the company and for caring about the investor
A: Thank you.
petersene Press releases and knowledgable IR folks can help squelch a lot of bad rumors...
<Moderator> RE: Press releases: we know that that press releases and IR folks can help squelch rumors; and that it what we are interested in doing
krbfund How many classes of shares will there be after the exchange of shares
<Moderator> RE: Share classes: there is only one class: COMMON
Guest65840when are financials going to be released?
<Moderator> Regarding financials, we expect to file financials before the end of Q2
mhall re: housing has construction begun on any of the 20 houses with down payments placed on them?
A: The plans are being drawn up by the manufacturer. Each house is a little different from the others. The people can change the walls or exteriors and sizes. Then the manufacturer draws up the plans and makes the homes, packs them for shipment. We receive them and erect them. We have small deposits some, when the plans and pricing are complete we will start the full process.
dguy Please define "near future" with a bit less ambiguity???
<Moderator> RE: PRESS RELEASES: You can expect more information in the next week or two
JJL203 ASKJOHN FOR THOSE OF US WATCHING TO LOOK AT THE CAMERA AND GIVE ALL OF USTRUE BLUE STOCKHOLDERS A BIG THUMBS UP
A: Thank you.
linemover Is the reverse merger completed?
A: Yes
PCModem is the new name still going to be PanAmerican BanCorp?
<Moderator> RE: NAME: the name will remain PanAmerican BanCorp
bgolden When you say near future, are you talking days, weeks or months.
<Moderator> RE: PRESS RELEASES: You can expect more information in the next week or two
ISSME How many shares are currently in the float?
A: Please seethe Open House Recap for more information on this topic.
Guest93655you are aware that if you do not become reporting you will be delisted? When will you do that?
<Moderator> Regarding financials, we expect to file financials before the end of Q2
The company will comply with all rules regarding reporting. Bulletin Board companies are being required to become fully reporting this year.
jjrai how much is this company worth in approximation?
A: There are so many ways to determine worth, I don't know how to answer that.
deon It is hard to find info about your Co. When I.E. in this form are you going to give some detailed info we can go to the bank on!
A: We have information on the web site and we will add more information as it becomes available.
Jakin Thanks for doing this...it will help calm investor fears.
A: You're welcome.
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