4th Q Financials 2006 – Summary – Panamersa
ASSETS AND LIABILITIES
Cash on Hand ------------------------------------------------ $19,888,475
Prepaid Expenses ---------------------------------------------------$5,600
Accounts Receivable --------------------------------------------$179,000
Fixed Assets ------------------------------------------------- $20,073,675
Other Assets ----
Investment – Corobici Wildlife ------------------------------- $1,437,000
Investment – Corporacion Financeria Ebiz -------------- $1,000,000
Investment – Panamersa Latin America, SA ------------ $5,416,667
Deposit in Escrow for Investment -------------------------- $50,000,000
Deposit Designated Future Acquisitions Account ---- $29,400,000
TOTAL ASSETS -----------------------------------------------$107,327,342
TOTAL LIABILITIES ----------------------------------------------$8,375.00
REVENUES
4th Q Total Revenues ----------------------------------------$46,467,527
Costs of Sales -------------------------------------------------$18,717,430
Total Expenses ----------------------------------------------------$352,691
4TH Q NET INCOME (PROFIT)--------------------------$27,397,406
PANAMERSA Corporation/PayPro Inc. Fourth Quarter Net Earnings Up 545 Percent Over Third Quarter
PANAMERSA Corporation/PayPro Inc. (PINKSHEETS: PYPR) released their fourth quarter financials today and posted net earnings up 545% over third quarter net earnings for 2006. Actual net earnings for fourth quarter exceeded projections of a 400 percent increase announced December 11, 2006.
"We are excited about the steady rate at which we continue to grow," said Mike Terrell, President of PANAMERSA Corporation/PayPro Inc. "I expect to see this trend increase even more now that we have our foundation solidified and are just starting to execute our business plan. I am extremely pleased to be a part of the amazing grouping of companies that PANAMERSA holds."
Fourth quarter net earnings were $21.6 million verses third quarter net earnings of $3.9 million, with annual revenues of $46.4 million and year end net profits of $27.4 million.
"While we are happy to see these numbers, we are committed to becoming a fully reporting company on our way to becoming a NASDAQ listed company," added Terrell.
AI
