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

To: wonk who wrote (37311)	5/31/1999 1:46:00 AM
From: jhild	Respond to of 43774

Wireless, now that is funny, though not quite the application that I think others might have been expecting. No, I think they weren't busy filing applications to the remaining 28 states so that Gold Country Securities/I-T could be registered in the full 50, nor do I think they were filing any applications to become a Thrift as they and their promoters would suggest. No they were apparently doing a D filing. Hooboy. Hahahhahaha. Take the longs out to the back of the wood shed and ask them to bend over once again. But hey who needs financial disclosure? It feels so much better in the dark. Hahahaha. Ohhhhh. As has been said before here that John Schmitz is a financial genius. Hahahahaha. Well at least one question is getting answered for me - now I think I know where they have been getting the money to pay expenses. From the shareholders. Hahahahaha. Good find wireless. And thanks Cele16.

To: wonk who wrote (37311)	5/31/1999 4:02:00 PM
From: PCModem	Respond to of 43774

ww, you left out a couple of things (actually 4 things): 1. 504 shares are only 'free trading' if the investor is accredited (that means sophisticated concerning such investments and rather rich) and most of the investors have to be accredited to legally buy 504 offering shares. So, some very sophisticated and well to do people (or person) bought some shares directly from the company. Or a bunch of people bought shares directly from the company that are restricted for 2 years. Sounds like a sound investment to me. 2. One does not apply to the SEC for a thrift (Cele 16 is typical of the bashers of this stock -- a couple of sandwiches short of a picnic -- the smart bashers have moved on to more worthy objects of their attention). 3. The dates are very interesting! 3/23/99 for the Filing of the Form D (which marks the beginning of the 504 offering, since the Form D is required by most states for shares sold in them to be legal). Eight days later the RMC is announced as being unwound. Nine days after that, on the final day for trading in PRWT shares for PABN shares, the day all short positions came due, the stock begins its rise from .011 and has settled in (as of this writing) at a comfortable 800% increase. Kinda knocks a hole in the idea that there was a big sell off. The evidence is for a big buy in. 4. I notice (a) no one knows if any 504 offering shares were actually sold (!!!) (b) no one knows the offering price for those shares (!!!) and (c) there has been no adverse effect for the shareholders, except for those who sold early thanks to the lies and misrepresentations of the bashers. The ignorance around here is so thick you can cut it with a knife. Do you always do your DD by coping messages from people who think companies apply to the SEC for a Thrift? PCM GO PABN!!! p.s. I am still waiting for an answer to my questions about PABN's reverse merger and the accounting.

To: wonk who wrote (37311)	5/31/1999 5:30:00 PM
From: jhild	Read Replies (1) \| Respond to of 43774

So Wireless, here's a little info on Form D's from the SEC site. Companies must file within 15 days after placing Reg D authorized stock. Looking at this it would seem that the sale could have happened then as early as 3/8/99, the day before the date of record for the Cusip number change. Since such sales are directly by the company to individuals that can invest up to $1m, you are right in suggesting that a massive number of shares could have been pushed out of the company at that point. I note with interest that the SEC doesn't require notice of intent to sell only that you report 15 days after the fact. Since D sales are generally dilutive to shareholders when the stock is sold at discount to the market I would question if any company would file a disclosure and then not actually consummate the sale. Form D Companies selling securities in reliance on a Regulation D exemption or a Section 4(6) exemption from the registration provisions of the '33 Act must file a Form D as notice of such a sale. The form must be filed no later than 15 days after the first sale of securities. For additional information on Regulation D and Section 4(6) offerings, ask for a copy of the Regulation and the pamphlet entitled: "Q & A: Small Business and the SEC" from the Commission's Publications Unit or see the Small Business Section of the Commission's Web Site. sec.gov