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

To: Scottoo who wrote (37165)	5/26/1999 3:52:00 PM
From: jhild	Read Replies (1) \| Respond to of 43774

Here you go Scottoo, I found some actual expenses for PanAm from last year but alas no income that is verifiable. It is even illustrative of this company's modus operandi. You know announcing deals then letting them drop out of sight. Remember that they announced that exclusive marketing and management deal with NHLT? Remember? Then nothing? Well here is what happened. They bought the rights for a month. Did I say bought? Well, maybe I should have said rented those rights so they could make a Press Release. That might be more accurate. That would be $99,000 that came from PABN. Where did it come from? Nothing at PABN was open at that point that still remains. Yet they had $99,000. What did they get for it? A Press Release. Want to wonder aloud why they would rent those rights for only the benefit of getting to make a press release, maybe? Couldn't be to increase interest in their stock so more could be sold into the float now could it? l. Royalty Revenue In November 1998, PanAmerican BanCorp and the Company entered into a Letter of Intent including an interim Licensing Agreement and Management Agreement, both of which would terminate on January 1, 1999. As a result, one months licensing fee of $41,000 was realized as revenue in December 1998 and $58,000 was loaned to the Company to help cover working capital requirements. The interim agreements have lapsed but discussions are still going on. edgar-online.com