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

To: ERRAFF who wrote (36133)	5/16/1999 9:25:00 PM
From: jhild	Read Replies (1) \| Respond to of 43774

What are the other activities that may be in violation of laws? Well there are the PR's that are not on their web site. The one's where they misrepresented the situation in Belize about their being licensed to do mortgage banking. Or about the number of homes they were lining up to build (1800 in phase one they implied) or the mortgage volume that they were expecting to place (10 million a month they said) or the fact that they would be guaranteed by the Belize Government (that Belize denied). What do they have to show? Last I saw was 2 incomplete homes. Or what about this? PanAmerican BanCorp expects the mortgages in Costa Rica to be larger than anticipated. John Schmitz, CEO of PanAmerican BanCorp, will return to Costa Rica in late summer to further arrangements to provide mortgages to the 20,000 new homes under the government guarantee program. Loans are approximately $25,000 to $30,000 each. That was last June partner, they have done nothing to date in Costa Rica. These are misrepresentations clearly overstating the opportunities and any reasonable person would have to agree that PABN/PRWT was intending to mislead. Being a reasonable person I sure think that. No I would not make a blanket statement that I believe that they have not broken any laws. It is safe only to say that they have just not broken the rules requiring them to file if they are to remain a otcBB stock.