To: jhild who wrote (87 ) 5/25/1999 7:06:00 AM From: ColleenB Read Replies (8) | Respond to of 188
company update... December 14, 1998 December 14 1998 PanAmerican BanCorp - Update - December 14, 1998 Affordable Housing Group, Ltd. We have begun construction on the first of our model homes and currently have over 100 prospective buyers. The homes are selling for between $50,000 and $125,000 and prospective homeowners are anticipated to make down payments of between 5% and 8%. We are very pleased with the progress and our relationship with the new Belizian government. Insider Trading The first television commercial for our Garden City, Long Island office of Insider Trading began airing on Monday, December 7, 1998 on Cablevision (CNBC- Nassau County - Channel 24) at random times throughout the day. Insider Trading provides both on premises and remote trading capabilities, including real-time quotes, news, charts, and historical data, time and sales, portfolio management, tickers, Level II market maker and exchange data and an extremely fast order execution system. The response to this commercial by active day traders has been overwhelming. The Garden City site is now currently equipped at full capacity with thirty-two (32) trading stations. An in-house seven day course is available to investors wishing to trade. The Boca Raton, Florida office has been built and is currently being staffed with twenty (20) trading stations. This new office is expected to be operational in the first quarter of 1999. There are also plans for a third office in Las Vegas. Insider Trading charges its clients on a per trade basis. The company expects to realize $11 per trade on an after cost basis and expects approximately 8,000 trades a month per office. However, since the Garden City office has now become fully operational, these estimates appear to be conservative. PanAmerican Healthcorp In its first full month of operation, PanAmerican Healthcorp has been retained by six separate healthcare companies to provide billing and management services. Each company currently bills $1,000,000 annually with PanAmerican anticipating earnings of approximately 5-8%. One of these companies is one of New York's largest medical groups which manages over 300 doctors and 20 clinics in Nassau, Suffolk and Queens counties. The Company hopes to continue to sign providers at a steady rate. PanAmerican Healthcorp is also dedicated to developing and introducing new technology for the medical marketplace. On December 4, 1998 the Company announced that it has entered into a contract with National Health & Safety for an exclusive marketing and management arrangement for all products. PanAmerican Healthcorp will provide expansion capital and marketing to incorporate National Health's POWERx Medical Benefits Network into PanAmerican's Patient Alliance of America. The agreement with National Health & Safety includes the national marketing of a new cancer detection technology for which NHS recently acquired the exclusive North American rights. The new technology is a soft tissue ultra-sound scanner (Longport scanner). The Patient Alliance, scheduled to be launched in January of 1999, will forge a national alliance between healthcare service providers and patients, reducing the cost of healthcare to patients, regardless od their medical history. Patient Resource Center, a consumer patient advocate association, is also scheduled to launch in a similar timeframe. Patient Resource Center will provide individual consumers with the value added benefits available under the Patient Alliance Program through a unique membership organization. Additionally, PanAmerican Healthcorp has the exclusive North American and South American licensing rights to a new product called Electronic Superbill, a billing technology for physicians. This product will commence beta testing in the first quarter of 1999. Electronic Superbill is the first release in the development of a product called Rx 2000, the next phase in internet based practice management systems. PanAmerican Interactive PanAmerican Interactive has identified several test companies for the interactive videophones. The Company expects to finish the commercial test phase early next year with a full rollout pending test results. This area is an exciting one for PanAmerican as the interactive videophones have applications in all of the Company's current business lines. This business is easily converted to an internet platform if this becomes reasonable at some point in the future. Except for historical information, the matters discussed in this document 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 the any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results.