To: ColleenB who wrote (30052 ) 3/27/1999 8:19:00 AM From: Lucky Charm Read Replies (2) | Respond to of 43774
Sure, they're using shares as collateral for acquisitions (not one completed to date), but they just issue more shares to do this. Why buy them from the market when it's easier and cheaper for the company to print more? Suuuuuuuuuuuuure Colleen!!! You know if you would take me up on my April 23 invitation, you might be able to see it for yourself !!! I'm not real sure Colleen, but I believe they call this "Insider Trading" and I think they have an office in Boca... atleast I did see something... a or so I think, but just to be sure, I'm gonna check out the one in NY and talk to that fictitional character Bill Black! (PR NEWSWIRE) DJ: PanAmerican BanCorp Acquires Access Wall Street DJ: PanAmerican BanCorp Acquires Access Wall Street NEW YORK--(BUSINESS WIRE)--June 24, 1998--PanAmerican BanCorp/Purewater (NASDAQ: OTC:PRWT) announced today the acquisition of Access Wall Street, a firm that provides state-of-the-art securities trading for investors. The newly acquired company offers an all inclusive system that provides Level II market maker and exchange data, real-time quotes, news, charts, historical data, portfolio management and an extremely fast order execution system enabling investors by means of ECNs (Electronic Communications Network) to post bids and offers that are displayed throughout the financial community. The system provides for immediate execution on the NASDAQ as well as other listed exchanges rather than routing orders to third party intermediaries. This enables trade execution and confirmation of orders in a matter of seconds. Additionally, it provides the individual investor the ability to execute trades between the spread, achieving further savings over most currently available trading systems. Originally developed to handle high-end, large volume trading and/or institutional stock traders, today, this innovative system can be accessed via the Internet as well as through Local and Wide Area Networks, and is the most enhanced application of its type offered over the Internet. The company is dedicated to bringing the most technologically advanced trading system to the individual investor and expects substantial growth in the near future. PanAmerican BanCorp/Purewater (PRWT) has acquired Access Wall Street in exchange for already-issued shares of the company so there is no dilution of PRWT shares. Access Wall Street is projected to add about $1.5 million in monthly revenues to PRWT or an additional $18 million a year. Net income is projected at $6 million a year. Look for further strategic alliances and acquisitions shortly. Except for historical information, the matters discussed in this news release may be considered "forward looking" statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. CONTACT: PanAmerican BanCorp/Purewater Investor Relations 516/232-2221 10:30 EDT JUNE 24, 1998