PANAMERSA (PNMS) Corporation Reduces Authorized Shares by Over 4 Billion, Offers Current Share Holders up to $0.04
Friday March 16, 1:00 pm ET
DALLAS, TX and PANAMA CITY--(MARKET WIRE)--Mar 16, 2007 -- The general council of Pan America Sociedad Anonima (MMVII) representing the four operating regions met yesterday to discuss the continued execution of the business plan made the following statement. "The general board of regions and the foundation council wants to make public that we are in compliance with all of our multi-jurisdictional codes of law and fully respect the self determination of each Pan American Region."
"Rampant naked short selling continues unabated in the region II capital market and is being used to manipulate and benefit the few insiders involved while destroying the entrepreneurs and small companies trying to follow the American dream," said Mike Terrell, CEO of PANAMERSA Corporation (Other OTC:PNMS.PK - News). "In our specific case, we release positive information about our company and the stock goes down due to the market manipulation."
For this reason PANAMERSA Corporation and the Board feel a move to a more stable exchange not only would benefit the Company but would allow the share holders the opportunity to have their share price based on earnings not blatantly reduced by manipulation. Because PANAMERSA Corporation does not depend on the selling of stock to pay basic salaries and expenses, the company has been able to move forward and has even made bold moves to protect shareholder's interests and increase share prices.
CEO Mike Terrell has been on a personal mission to increase the share price for all of the shareholders. Stated Terrell, "In the last 8 months I have done the following just to increase share price:
-- Reduced O/S by 4 billion in 6 months including 2 billion of my own
stock.
-- I declared a land dividend so every brokerage house would have to
certify each shareholders position. I would like to point out the land
dividend was paid by the company on time (conveyed to the Fundacion) The
only reason shareholders do not have their dividend today is your broker
does not feel compelled to certify what you actually own or just refuses to
give us that number. Or in another situation the broker certified 10
million more shares sold than they had to sell according to the DTC
position report. So until the Foundation has an exact count they will not
be paid. Make no mistake the shareholders of record earned and will get
their dividend, but not until their brokers certify who owns what.
"My job has not changed. I am here to increase share value, the basic job of a CEO. I will accomplish that despite manipulation, despite naked short sellers, because we will bury the doubters with profits and create a level playing field."
Our 30% share of the operating companies of the 4 operating regions has been paid in full. Our revenues derived from those regions are our share of the total operation. Our 4th Quarter assets have been certified as of December 31, 2006 which include 50 million in escrow and 29.4 million for expansion, both of which are a result of the sale of 2 billion restricted shares at $0.04. The remaining 19 million represent our consolidated 30% earnings from all regions. I can only certify amounts we receive. Because all of the operating companies are operating companies of the foundation their audited financials may not be disclosed publicly by law.
Effective immediately:
-- PANAMERSA Corporation authorized shares will be reduced by 4 billion
shares.
-- The Share buy back will begin in conjunction with a shareholder price
guarantee
-- A guarantee will be extended to loyal shareholders who wish to be a
part of PANAMERSA Corporation's future.
-- All shareholders who request their certificates from their broker and
exchange those shares for PDRs issued by the Fundacion and agree to hold
them for 1 year will be guaranteed a minimum price of $0.02 per share or
the current market price, which ever is greater, or the option to keep the
PDR. In addition each guaranteed PDR will be backed by Gold reserves.
-- All shareholders who request their certificates from their broker and
exchange those shares for PDRs issued by the Fundacion and agree to hold
them for 2 years will be guaranteed a minimum price of $0.04 per share or
the current market price, which ever is greater, or the option to keep the
PDR. In addition each guaranteed PDR will be backed by Gold reserves.
-- All PDRs are issued through the Fundacion Pan America.
"These are exciting times as PANAMERSA Corporation moves forward to take her place in history," said Terrell. "I am projecting great growth and strength within our organization for many years to come."
PANAMERSA Corporation (Other OTC:PNMS.PK - News) is a holding company for a group of business enterprises which promotes the commercial integration of Latin America into the economic development of the Western Hemisphere. PANAMERSA Corporation is engaged in global e-commerce and e-biz solutions offering interactive e-commerce and e-biz programs in addition to a range of goods and services online including: prepaid Debit cards; e-commerce merchant accounts; life insurance policies, gold transactions; telephony services, text messaging, VoIP, MicroForests properties, real estate investment participations, fixed and variable income real estate properties in Costa Rica and Panama, offshore financial services, asset management and protection; travel services, leisure, business, health, relocation services, and digital marketing services.
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