We are currently completing the PANAMERSA Corporation Web site remap and are seeing some exciting ideas and processes emerge. Once fully functional, the site will allow for amazing search capabilities, provide important information to shareholders in real time and direct to their inbox.
As you know, the PDR trading site is also being built. We are currently working under the announced time frame, however, you must understand that building a site as robust and technologically advanced as the PDR site, will inevitably present a few challenges. A site that will allow the capabilities to host aggressive, active trading in real time, with 24/7 access provides little room for bugs or detours. I am currently going through lists and seeking out additional qualified testers to complete the beta testing phase of the trading site, which should be accomplished shortly. We have a specific strategy and are focused on attaining that goal.
Think of our situation like a war room – as shareholders we all sit around a table and determine what the next move will be – move the troops here and it directly affects what is going on over there. These efforts are all interconnected and while delivery of the sites to you in a expedited manner is important, making them fully functional and operational is critical. We don’t want to overlook our strategy for speed.
In the next couple of weeks, I will be traveling to Spain to meet with brokers to promote the new PDR site with Euro investors. Our partner DESIMPLEX has aided us in making these introductions and will help facilitate. Due to their strong background in stocks, specifically in the European and Latin American markets, DESIMPLEX is a strong ally in our push onto a traded exchange. I’m excited about moving forward with this phase and know that it will only heighten PANAMERSA Corporation’s brand and visibility throughout the world.
While in Panama this week, I attended a boxing event that helped me to visualize PANAMERSA’s stance within the world playing field. I attended the fight with Pedro and Manuel; we networked with many of the elite within Panama’s banking and financial industries. During this 10-round title fight, the champion was getting trampled. He fought his way through the first nine rounds, barely making it into the 10th – but remember he is a champion, so as beaten and weak as he was he hung in there and took it all the way to the end of the fight. The spectators visibly doubted that the champion would make it through, but midway through the 10th round, he rose to the occasion and with one punch – the other fighter was knocked out completely for more than four minutes.
PANAMERSA will have our time – our knock-out punch, but as with the fight above, none of this comes from pure luck – it is a calculated strategy, our partnerships, and our commitment that will play out to bring all of our dreams to fruition. We are laying the infrastructure now to push PANAMERSA into the future, but we must all be patient as we lay the groundwork for the best that is yet to come.
Mike Terrell
CEO, PANAMERSA Corporation
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker. Posts: 424 | From: Oklahoma | Registered: Aug 2006
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posted
Posted by: causeimdaddydamnit In reply to: None Date:5/15/2007 8:14:47 PM Post #of 65103
FINANCIALS ARE UP! I just got this message from Lori-Lynn. She asked that I post this:
Due to the the late hour in which we received our financial data from our accountants, our site hosting company was unable to assist the upload. Therefore the financials have been posted in the **** section for now. They will be moved to their proper location tomorrow, but we wanted to make the numbers available to our shareholders as soon as we had them in-hand. Personally today I had several conversations with our accountant and was in constant communication with our board. Respectfully, I can state that all is in order.
We will also be releasing more information about PANAMERSA Corporation's forward trend on Monday. Mike Terrell is in Costa Rica and will return late Thursday with outlines for our corporation moving forward. We are preparing a press release announcing the financials as well as other exciting and significant developments in the company. You can expect to see this release on the wire service on Monday, Monday, May 21st, as we feel it important to time this release for maximum press benefit.
Thank you again for your dedication and support of PANAMERSA Corporation. We remain continually confident with the direction in which we are headed and excited that our loyal shareholders are along for the ride.
-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker. Posts: 424 | From: Oklahoma | Registered: Aug 2006
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Cash on hand $19,888,475 $ 19,668,591 Prepaid expenses 5,600 5,600 Accounts receivable 179,600 2,104,662
Total Current Assets 20,073,675 21,778,853
FIXED ASSETS, net - 0
OTHER ASSETS Investment – Corobici Wildlife 1,437,000 1,437,000 Investment – Corporacion Financiera Ebiz 1,000,000 1,000,000 Investment – Panamersa Latin America, SA 5,416,667 5,416,667 Investment – Pan America Sociedad 50,000,000 50,000,000 Investment – Desimplex 0 5,400,000 Investment – Petrobonds Venezuela 29,400,000 29,400,000 Deposit in Escrow for Future Acquisitions 0 35,000,000 Intangible assets, net 0 0
Total Other Assets 87,253,667 92,653,667
TOTAL ASSETS $107,327,342 $149,432,520
PANAMERSA CORPORATION (PNMS)
Balance Sheets (Unaudited)
December 31, March 31, 2006 2007
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES Accounts payable and accrued expenses $ 8,375 $ 8,375 Notes Payable 0 Other Payables 0 0
Total Current Liabilities 8,375 8,375
LONG-TERM DEBT Due to Desimplex 0 5,390,000
Total Long-term Debt 0 5,390,000
TOTAL LIABILITIES 8,375 5,398,375
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock: $0.001 par value, 10,000,000,000 shares authorized; 7,629,010,600 and 5,629,010,600 shares issued and outstanding 80,341,950 80,341,950 Retained Earnings / (Deficit) (420,389) 26,977,017 Current Income / (Deficit) 27,397,406 36,715,178
Total Stockholders’ Equity (Deficit) 107,318,967 144,034,145
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $107,327,342 $149,432,520
PANAMERSA CORPORATION (PNMS)
Statements of Operations (Unaudited)
For the Year For the Period ended ended December 31, March 31, 2006 2007
REVENUES
Sales $19,330,693 $ 525,500 Income from Subsidiaries Corporation Financiera Ebiz 53,500 104,662 Pan America Sociedad 0 20,540,200 Panamersa Latin America, SA 27,083,334 16,250,001
Total Revenue $46,467,527 $ 37,420,363
Cost of sales 18,717,430 509,735
Gross Margin 27,750,097 36,910,628
EXPENSES
General & Administrative 352,691 195,450
Total Expenses 352,691 195,450
Operating Income 27,397,406 36,715,178
Income taxes 0 0
NET INCOME (LOSS) $ 27,397,406 $ 36,715,178
NET INCOME (LOSS) PER SHARE (for 12 months and 3 months) $ 0.0036 $ 0.0065
WEIGHTED AVERAGE SHARES OUTSTANDING 7,629,010,600 5,629,010,600
PANAMERSA CORPORATION (PNMS)
Statements of Stockholders’ Equity (Unaudited)
Common Stock Common Stock Retained Earnings Shares Amount (Deficit) Balance at December 31, 2002 9,900,390 $ 0 $ (337,500)
Net loss from operations December 31, 2003 - (50,000)
Balance at December 31, 2003 9,900,390 $ 0 (387,500)
Net loss from operations December 31, 2004 - - (50,000)
Balance at December 31, 2004 9,900,390 $ 0 (437,500)
Common stock issued for debt 10,000,000 10,000 -
1000 to 1 reverse split (19,880,490) -
Common stock issued for debt 27,000,000 135,000 -
Common stock issued for subsidiaries 100,000,000 47,690 -
50 to 1 forward split 6,223,990,700 - -
Common stock issued for debt 1,278,000,000 230,000 -
Net income from operations December 31, 2005 - - 17,111
Balance, at December 31, 2005 7,629,010,600 $ 422,690 $ (420,389)
PANAMERSA CORPORATION (PNMS)
Statements of Stockholders’ Equity (Continued) (Unaudited)
Common Stock Common Stock Retained Earnings Shares Amount (Deficit)
Balance at December 31, 2005 7,629,010,600 $ 422,690 $ (420,389) Net income from operations March 31, 2006 179,355
Sale of Subsidiary (2,000,000,000) (2,080,740)
Net income from operations June 30, 2006 141,064
Issued to Fundacion Paypro 2,000,000,000 2,000,000
Net income from operations September 30, 2006 - - 3,642,556
Sale of Stock through Fundacion Paypro 80,000,000
Net income from operations December 31, 2006 - __ - 23,434,431
Balance, at December 31, 2006 7,629,010,600 $ 80,341,950 $ 26,977,017
Shares turned into Company as treasury shares by CEO (2,000,000,000)
Net income from operations March 31, 2007 - __ - 36,715,178
Balance, at March 31, 2007 5,629,010,600 $ 80,341,950 $ 63,692,195
PANAMERSA CORPORATION (PNMS)
Statements of Cash Flows (Unaudited)
For the Year ended For the Year ended December 31, March 31, 2006 2007
OPERATING ACTIVITIES Net Income / (Loss) $ 27,397,406 $ 36,715,178 Adjustments to reconcile net loss to net cash used by operating activities: Changes in operating assets and liabilities: (Increase) in accounts receivable 137,490 (1,925,062) Increase in accounts payable and accrued expenses (133,096) 0
Net Cash from Operating Activities 27,401,800 34,790,116
INVESTING ACTIVITIES Investment – Corobici Wildlife ( 1,437,000) 0 Investment – Ebiz ( 1,000,000) 0 Investment – Panamersa LatAm ( 5,416,667) 0 Investment – Pan America Sociedad (50,000,000) 0 Investment – Desimplex 0 ( 5,400,000) Investment – Petrobonds (29,400,000) 0 Deposit in Escrow for Future Acquisitions 0 (35,000,000) Net Cash Used in Investing Activities (87,078,217) (40,400,000)
FINANCING ACTIVITIES Receipt of Stock from sale of Subsidiary ( 2,080,740) 0 Note payable – purchase of Desimplex 0 5,400,000 Payments on Note payable 0 ( 10,000) Issue shares to Fundacion 2,000,000 0 Share of sale of stock through Fundacion 80,000,000 0 Proceeds from notes payable (519,264) 0
Net Cash from Financing Activities 79,399,996 5,390,000
Increase in Cash 19,723,579 ( 219,884) Cash at Beginning of Year 164,896 19,888,475
Cash at End of Year $19,888,475 $19,668,591
PANAMERSA CORPORATION (PNMS)
Statements of Cash Flows (Unaudited)
SUPPLEMENTAL CASH FLOW INFORMATION
Cash Paid For:
Interest $ - $ - Income taxes - -
PANAMERSA CORPORATION (PNMS)
Notes to the Financial Statements
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Organization
PANAMERSA CORPORATION, (formerly known as Pay Pro, Inc.) (the Company) was incorporated under the laws of the State of Nevada on October 16, 1988.
PANAMERSA Corporation (Pink Sheets:PNMS) 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. The Company 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.
b. Accounting Method
The Company’s financial statements are prepared using the accrual basis of accounting.
c. Income Taxes
The Company has accumulated net operating loss carryovers of approximately $420,389. The estimated tax benefit of the net operating loss carryovers of $147,000 has been offset by a valuation allowance in full.
d. Unaudited Financial Statements
The accompanying financial statements are prepared without audit. They include all of the adjustments which in the opinion of management are necessary for a fair presentation in accordance with Generally Accepted Accounting Principles in the United States of America.
e. Use of Estimates
The preparation financial statements in accordance with generally accepted accounting principles requires the use of estimates. Actual results may vary from those estimates.
Notes to the Financial Statements (Continued)
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Cash and Cash Equivalents
For purposes of financial statement presentation, the Company considers all highly liquid investments with a maturity of three months or less, from the date of purchase, to be cash equivalents.
Accounts Receivable
The Company’s accounts receivable are net of the allowance for doubtful accounts.
Fixed Assets
The Company is depreciating its office equipment over the estimated useful life of 5 years.
Intangible Assets
The Company’s intangible assets are amortized over the estimated useful lives of 5 to 10 years. The intangible assets are made up of the cost of licenses and websites purchased by the Company.
NOTE 2- RELATED PARTY TRANSACTIONS-NOTES PAYABLE
The Company has received short term loans of operating funds. The notes are unsecured, non-interest bearing and due upon demand.
NOTE 3 – SIGNIFICANT TRANSACTIONS
The majority shareholders of the Company’s common stock approved a reverse split of its common stock on a 1,000 shares for 1 share basis, effective June 1, 2005. The financial statements do reflect the reverse stock split.
On June 26, 2005 the Company acquired ChexCard Corporation and PayPro Card Corporation, two providers of debit banking cards. The companies were acquired for 100,000,000 shares of the Company’s previously authorized but unissued common stock.
Notes to the Financial Statements (Continued)
The majority shareholders of the Company’s common stock approved a forward split of its common stock on a 50 shares for 1 share basis, effective July 15, 2005. The financial statements do reflect the forward stock split.
On April 1, 2006, the Company sold ChexCard Corporation, a provider of debit banking cards. As part of the transaction, certain notes payable and other assets were also retired. As compensation, the Company received 2,000,000,000 shares of the Company’s previously issued stock, and the stock is being held by the Company.
On September 10, 2006, PayPro Latin America, S.A., a partially owned subsidiary of the Company, entered into a transaction marketing micro forests. As the micro forests are sold, PayPro Latin America will earn Commission Income, part of which will be allocated to Panamersa Corporation and identified as Income from Subsidiaries on the Statement of Operations. The amount earned and recognized in the current year is $ 27,083,334.
On September 30, 2006, the Company issued 2,000,000,000 shares of restricted stock to Fundacion PayPro.
On November 6, 2006, Fundacion Panamersa announced the sale of 2 billion restricted shares of Panamersa Corporation in PDRs at $0.04. Panamersa Latin America, S.A. became the beneficiary of the Fundacion Panamersa Panama by receiving $80,000,000 from the sale of those PDR’s. Of these funds, $50,000,000 were placed as a deposit for the proposed purchase of a new company which was announced in January 2007 (see Note 4). The remainder of the funds were retained in the Company for working capital.
On January 5, 2007, the CEO of the Company returned 2 billion shares of common stock to the Company’s treasury. This is shown on the financial statements as a reduction of shares issued and outstanding.
On March 16, 2007, the Board of Directors announced that the total authorized shares of the Company would be reduced by 4 billion shares, from 10 billion shares to 6 billion shares. As of the date of these financial statements, the Company is in the process of completing this reduction.
Notes to the Financial Statements (Continued)
NOTE 4 – NEW INVESTMENTS
On October 6, 2006, the Company purchased 100% of the stock of Corporacion Financiera Ebiz (Panama), a financial institution with assets of more than $5 million USD. The purchase price was $1,000,000.
On November 30, 2006, the Company announced the acquisition of the Corbici Wildlife Refuge in Costa Rica. The purchase was made as part of the Panamersa MicroForest program. The purchase price was $1,437,000.
Effective January 17, 2007, Pan America Sociedad Anonima (MMVII) PANAMERSA, a Panamanian Corporation, became the operating unit for all PANAMERSA legal entities, united in the common goal of promoting for profit the commercial integration of Latin America into the economic development of Pan America (the Western Hemisphere) and the rest of the world, while protecting our Forests, Flora, Fauna & Water resources. As part of this reorganization, the Company acquired 30% of Pan America Sociedad Anonima (MMVII) PANAMERSA for $50,000,000, which amount had previously been held in escrow for this reorganization.
In January 2007, The Company purchased a series of Petrobonds Venezuela through the Fundacion Panamersa Panama at preferred discount rates. These bonds mature at various dates beginning in 2009. The purchase price was $29,400,000, which had been held in escrow in the Fundacion for this transaction.
On February 12, 2007, the Company announced the formation of a joint venture with Desimplex, a corporation with headquarters in Panama. Desimplex products are based on high-quality technology, customization of processes for the client, and the best practices for solutions in software engineering. Growth is anticipated to move into five continents with two released product versions per year and a new product line every year for the first five years of growth. As part of the joint venture, the Company has purchased 20% of the common stock of Desimplex, payable over three years. The Company also has an option to purchase an additional 29% at a price to be determined later.
Notes to the Financial Statements (Continued)
NOTE 5 – CERTIFICATION
I, Mike Terrell, President of Panamersa Corporation, hereby certifies that the unaudited consolidated financial statements herewith, fairly present, in all material respects the financial position, results of operations and cash flow as at and for the quarter ended March 31, 2007, in conformity with accounting principles generally accepted in the United States, consistently applied.
Dated May 15, 2007 Panamersa Corporation
___________________________ Mike Terrell, President
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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We are preparing a press release announcing the financials as well as other exciting and significant developments in the company. You can expect to see this release on the wire service on Monday, Monday, May 21st, as we feel it important to time this release for maximum press benefit.
Posts: 731 | From: OHIO | Registered: Jan 2006
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posted
PANAMERSA Corporation Posts First Quarter Net Earnings per Share of $.0065 up 180 Percent Over 2006 5 minutes ago - Market Wire PANAMERSA Corporation (PINKSHEETS: PNMS) released first quarter financials on May 15 which showed first quarter net earnings at $36.7 million, a 156.76 percent increase over the previous quarter. First quarter net earnings per share were also posted at $.0065, an increase of 180 percent over 2006.
"I am very proud of what we have accomplished in the last year. Our sustained growth and momentum continue to astonish those who are sitting by as onlookers," said Mike Terrell, CEO of PANAMERSA Corporation. "Through the exciting announcements being made today by our partner foundation, I expect to see these numbers continue to increase due to the holdings and partnerships that PANAMERSA has made."
First quarter net earnings were $36.7 million versus year-end 2006 net earnings of $27.4 million. PANAMERSA Corporation also holds $149.4 million in total assets, including $35.0 million in escrow for future acquisitions and continued growth.
"I continue to be amazed by the undervaluing of our stock. Considering our first quarter earnings per share were $.00652, 434 percent higher than our current price per share (PPS), the market manipulation appears to know no bounds," said Terrell. "It is about to get very interesting, with many new announcements on the horizon."
DESIMPLEX, a partner company of PANAMERSA Corporation, has recently completed trading software for PDR Exchange (Panama), Inc. PANAMERSA now has 12 external BETA testers who will begin testing the trading software today. With these announcements, the exchange is expected to be live and trading by next week.
Indications from pre-opening day PDR bids already received show PDRs representing beneficial ownership of PNMS stock to open at $.01 or more per share. PANAMERSA Corporation shareholders have begun requesting their stock certificates and PANAMERSA Corporation will continue to help shareholders in any way possible to ensure every shareholder who requests certificates is able to receive them.
For more information on earnings projections or to see a complete overview of company earnings and assets, please visit www.panamersa.com.
PANAMERSA Corporation (PINKSHEETS: PNMS) 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. For more information, please visit www.panamersa.com.
Forward-looking statements are not historical facts as "forward-looking statements" defined in the Private Securities Litigation Reform of 1995. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are the result of profound analysis on trends in our globalizing economies that we anticipate in our industry. It is our good faith vision and estimate of the effect on the globalization, integration and electronic business trends will have on our company. Our statements are also subject to risks and uncertainties beyond our reasonable control that could cause the results of operations to differ materially from those reflected in our forward-looking statements.
posted
Just can't understand why we did not get a bigger pop out of that PR. Those are great numbers for a stock with a PPS like PNMS.
-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker. Posts: 424 | From: Oklahoma | Registered: Aug 2006
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