Patient Access Solutions Inc (PASO)

[Chuck_Norris]

CONGRESSMAN BANKS & PASO

Thanks for posting, Hooli. Definitely a solid find. My team and I dug into this a little bit. We were able to find a supplemental Periodic Transaction Report (#20017843) to the one you discovered (#20017471). As shown below, Congressman James (Jim) Banks just recently (12/17/2020) certified the purchase of MORE shares of PASO (purchased between 11/24/2020 and 11/27/2020 worth - at the time - between $1,000 and $15,000). Nothing could be found prior to September so, with a high degree of confidence, I think all of the transactions he reported are covered below.







NOTIFICATION DATES: 11/24/2020 - 11/27/2020
CERTIFIED BY CONGRESSMAN JAMES (JIM) BANKS ON: 12/17/2020




As previously posted by Hooli (see post I'm replying to for better image quality), here is Congressman Banks' other Transaction Report:


NOTIFICATION DATES: 9/1/2020 - 9/15/2020
CERTIFIED BY CONGRESSMAN JAMES (JIM) BANKS ON: 10/6/2020



It's clear to see that the Congressman serving Indiana's 3rd District is likely a current shareholder of PASO. I say "likely" because, although it may seem certain that he IS a shareholder, I would just caveat that he very well could have sold his entire position between 17 December 2020 and today. It's worth noting that he has sold SEVERAL times before (at least 6 times since September 2020).

One FACT that cannot be disputed is that he (Congressman Banks) is interested in PASO. "Now hold on a second, Chuck... this is a Schwab IRA account. Maybe Schwab chose PASO for him, for his portfolio, and they have been managing it accordingly." I had the same thought! So, I called Schawb and here's how the conversation unfolded:

Chuck: "If I were to open an IRA with you, would Schawb advisors be able to make stock picks for me and manage my portfolio without my involvement?"

Robert: "Absolutely. You would just tell us a little bit about your goals and some other personal investment details and we'd do the rest. Additionally, there is no advisor fee for that service if you have more than $5,000 in your account."

Chuck: "What if I wanted to provide just an ounce of guidance to your advisors...that I want high risk stocks; would your advisors ever consider investing my money in OTC?"

Robert: "Never. We would never invest in over the counter stocks for your portfolio. You can invest in them, but we will not do it for you through advisement - nor will we ever recommend it."

Thus, Congressman Banks is pulling the trigger here, personally. I then have to ask myself, "Is Congressman Banks an OTC flipper?". It is interesting that he has bought and sold several times... so I did a little deep diving into just how much money he COULD have potentially made while "flipping" during the window of dates he bought and sold while using a "higher" amount for the trades ($10,000). My guesstimate for how much he could have made flipping, if he timed everything JUST right, is a profit of between roughly $15,000-$25,000. Also worth noting is that he is likely under water on his last two trades (From 9/11/2020 to 9/15/2020 the stock traded between .0730 and .0620) (From 11/24/2020 to 11/27/2020 the stock traded between .0190 and .018). I haven't seen a sell on record since those last two buys, but again, it doesn't mean he hasn't sold over the last few days. But, if he hasn't sold... Here's an example for some perspective:

Buy: 09/15/2020- $10,000 @ .0620 = 161,300 shares
Buy: 11/27/2020- $10,000 @ .0180 = 555,600 shares
Total: 716,900 shares @ .0279

Now I have to wonder, did he jump out at the recent bump to .031 this past Friday so he could pocket a whopping $2,223.00ish? Hey, it's $2,223.00 he didn't have before....so maybe, but my analysis points to something deeper. He is a Congressman... the kind of guy that gets access to information often before the public does. He disclosed as much as he's required to, so it's no secret. Then again, maybe he has a family friend who said "buy this stock and thank me later". The true answer to why he's invested here may never be known, but it's important to understand the dynamic of every situation and analyze the facts so a reasonable conclusion can be considered. If his involvement here is just a coincidence (that a sitting Congressman would give two rips about actively trading an OTC stock that has been bleeding out over the last 6 months) then maybe it is just a coincidence and there's nothing to see here. OR, possibly, he's smart and wants to take advantage of an opportunity to make some money with whatever information he may have on what's going on with PASO.

I know it's a super loose point to make, but I feel it may get brought up sooner than later... so I'll say it now. Congressman Banks is currently serving as a Lieutenant in the U.S. Navy (reserves). I know, we've had a few loose Navy ties....what's one more.

If he swooped in here to make $15,000-$25,000 and was able to pull it off, awesome. But from my lens, he is still a shareholder and would do quite well for himself if the DA ended up with a few signatures on it. I can't prove he still has shares, but it makes the most sense to me that he does (a few hundred-thousand at least).

For the record, I'm looking forward to the next 39 days. I do believe we will hear something shortly from CLX AND PASO, but I think things really heat up after the New Year through January.