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Author Topic: PAIM......0003
BuckyBarnes
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News for 'PAIM' - (95% Mandatory Buy Back of Pearl Asian Mining
Industries' Common Shares (PAIM) Will Be Automatic With The Exchange or
Record Date Effective July 20, 2007: NO X-Date For Mandatory Buy-Back
Exchange)


MANILA, Philippines, Jul 11, 2007 (BUSINESS WIRE) -- Pearl Asian MiningIndustries,Inc., with Stock SYMBOLS: U.S.A. (OTC common shares: PAIM)(OTC
preferred shares: PAIMP), announced that the exchange or record date will
beeffectiveJuly 20, 2007, for the company's mandatory buy back of approximately
8,611,655,441 or 95% of its issued and outstanding common shares payable
at therateof $0.00002 per share commencing October 10, 2007.

The company had notified NASD & DTCC on July 2, 2007, per SEC Rule 10b-7
the10-daynotification requirement, thus based from last year's 2006 first
mandatory Buy Back of June 15th, a lengthy discussion with NASD, DTCC and
thetransferagent, that there will be NO X-Date for this mandatory buy-back
exchange. Pearl Asian Mining Industries had announced earlier that the
exchangerecorddate for this action was July 20, 2007. The exchange date is going to be
automatic for all shareholders holding PAIM common shares through DTCC.The Shareholders holding through DTCC will not have to do anything in this
exchange, as this will be a mandatory exchange and automatically done
throughthesame process. A stop transfer will be placed on shares outstanding on July
20, 2007, regarding shareholders that fail to surrender 95% of their
commonshares.The stop transfer will not be released until those original shares are
surrendered in exchange for cash.The buyback rate is that for every 1 common share surrendered, Pearl Asian
willpay$0.00002 per common share directly to the known address of the registered
shareholder of exchange or record date of July 20, 2007.CEO, Jason. Piamonte, commented: "I am very optimistic about the future of
PearlAsianMining (PAIM). The company has continuously been very productive as I am
certain the company's future earnings will far exceed the expectation to
getregisteredto the next level. To recap the progress, on June 15th of last year,
the company did its first mandatory buy back of 90% out of the 29+ BillionOutstandingCommon Shares, using the Convertible Debentures. After a year, the
company is able to reduce further that massive float down to approximately
9
Billion Common shares. This year, Pearl Asian Mining issued another
mandatorybuyback of 95% from the current issued and outstanding of 9 Billion common
shares with record date of July 20, 2007. As a result, the 5% or
approximately453,244,457(Four Hundred Fifty Three Million, Two Hundred Forty-Four Thousand
and Four Hundred Fifty Seven) remaining outstanding common shares is a
goodstart,along with an increase in the adjusted price per share after this
mandatory buy back. This is the ultimate goal PAIM has hoped to achieve,
andindeedit is phenomenal. The company and the members of the board directors,
expressed that this is the most creative, beneficial and the positive way
ofreducingthe current outstanding public float, thus avoiding the negative impact
and effect of a reverse split, and most of all balancing what is best foreveryoneconcerned, for all of our shareholders, investors and for the company
as whole."Forward-Looking Statements: Forward-looking statements involve known and
unknownrisks,uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results,performanceor achievements expressed or implied by such forward-looking
statements. Forward-looking statements in this release include statementsregardingthe Company's projections regarding gold production in future periods.
Factors that could cause actual results to differ materially from
anticipatedresultsinclude risks and uncertainties such as: risks relating to estimates of
reserves, mineral deposits and production costs; mining and development
risks;therisk of commodity price fluctuations; political and regulatory risks;
risksofobtaining required operating permits and other risks and uncertainties.
PennyStocksare very highly speculative and may be unsuitable for all but very
aggressive investors. The Company disclaims any intention or obligation toupdateor revise any forward-looking statements, whether as a result of new
information, future events or otherwise.SOURCE: Pearl Asian Mining Industries Inc.


CONTACT: Pearl Asian Mining Industries Inc. - PhilippinesInvestor
Relations:Gary Gotanco, 310-728-6907 or
866-732-7888IRPAIM*hotmail.comwww.PearlAsianMining.comFAX: 877-317-4430Copyright Business Wire 2007

-0-

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"No nation was ever ruined by trade." Benjamin Franklin

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Stock, Ham, and Mayo Sandwich
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When I convert my 6 billion preferred shares into common PAIM shares, will this bullchit buy back effect them?

This company is f--ck-n whacked! Good Lord!

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stockcop
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If you convert 500,000,000 preferred into common, how many common shares would you have ?
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oldguy
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let me see if I have this right. This is not a reverse split, yet my stocks will now be worth a tiny fraction of what I bought them for. I wonder what would happen if IBM decided to buy back all their shares at a tiny fraction of what they were trading for.

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It is what it is

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oldguy
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stock cop - you apparently started out with 500,000 shares before they converted 90% of your shares to preferred shares. You can have them preferred shares converted to common shares at the rate of 5,000 to one. It will cost you to do that. I was charged a flat fee of $50 by Scottrade, but I did have substantially more shares. Your net common stocks would be 100,000. At the current price - your new common stocks would be worth $10. You might want to wait 3 more years where they would be worth a whopping $100.

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It is what it is

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tmanfromtexas
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OldGuy, you will only have 5% of what you have now. They are going to pull the other 95% from your account and send you a check for .00002 pershare. I am not quite sure how they can do it but I guess time will tell. TMAN...

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In the end, trust only yourself when trading stocks.

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oldguy
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Hey Tman. By some weird timing, I sold all my outstanding common shares 2 days before they made the announcement of the buyback. I only have preferred shares now, which are in the process of being converted. I also started that process when I sold my shares. They told me it would take 4-6 weeks, which will be some time in mid to late August. I only can hope they don't include them in their buy back.

The 5% of the stocks you have left should trade at 20x the current price, keeping their current value in a perfect world, but these pinks always head back down to .0001 in a short time after a split (or whatever this is) making your investment practically worthless. They then can start rpinting more shares. It's a win-win proposition - but only for them.

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It is what it is

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BuckyBarnes
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Clarifications On Calculations Of The 95% Mandatory Buyback of Its Common Shares; Logical & Legal Reasoning For Corporate Action, Pearl Asian Mining Industries Announces
9:38 AM ET - BusinessWire
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC common shares: PAIM)(OTC preferred shares: PAIMP) clarifies the calculations of the 95% Mandatory Buy Back of PAIM Common Shares effective July 20, 2007.

"Attached is the new excel conversion calculation sheet for use with investors / shareholders which is 2003 excel compatible. Below is an example of the 95% Buyback. The sheet has all the calculations for our conversions 90% & 95% BBs as well as the PFD, CD balance and the CD conversion to common. I hope to find this sheet helpful for all shareholders concern," reports Alice Navas, President of AGN Associates & Stock Transfer Services, LLC.

95% BUY BACK OF COMMON-Stocks Issued as of July 20, 2007 Old Common Buy Back Factor 95% Total 25,000,000 0.95 23,750,000 Less the 95% buy New Common Share Old Common Shares back of Common After BuyBack 5% New Cert # 25,000,000 23,750,000 1,250,000 ---------------------------------------------------------------------- 95% COMMON PAYMENT AMOUNT AT .00002 FACTOR PER SHARE 95% of Common Payment Factor Dollar Amount Check # 23,750,000 0.00002 $475.00
The Transfer Agent must receive all the old PAIM common shares on the estimated 8,611,655,441 common shares subject to buyback on or before the pay date to start on October 10, 2007.

Moreover, DTCC should now be in the process of sending to PAIM's Transfer Agent the 95% of the common and outstanding shares. Although PAIM has set the buyback/exchange date for July 20, 2007, any shares bought and sold beginning July 23, 2007 should only be the remaining 5%. Pearl Asian advises shareholders who may have unintentionally sold short on PAIM shares to immediately contact their brokers to work out a way. The remaining 5% of common shares in shareholders' accounts should be available for trading at any time thereafter.

Furthermore, all of the shareholders are affected equally, meaning that each shareholder will own the same percentage of the common shares immediately after the buy back, just like a reverse split. Therefore, there are not 5% of the shareholders gaining unjustifiably. In other words, a shareholder will keep 5% of its shares just like all of the other shareholders, and the 95% will go into the company's treasury, which our shareholders will all own indirectly based on their individual percentages of ownership. The reason for the buy-back instead of a reverse split is that reverse splits usually bring the stock price higher, but immediately start moving down, whereas with a buy-back the stock price marches upwards on the charts from where it was before the buy-back. As with the last buy-back it worked to bring our price per share greater than the 90% buyback more than a 10 for 1 reverse split would have accomplished as the stock price moved up above .001 and held there for quite some time. It wasn't until Pearl Asian Mining ran into a problem with shares being sold into the market by this Buyer/Investor who did not have the stocks totally cleared through DTCC, wherein the company put a stop transfer in place on the 1,074,000,000 Common Shares, then the stock dropped below .001. Therefore, we are hopeful that PAIM stock this time could rise above .01 and remain above this price. Of course, Pearl Asian cannot guarantee this result, but we are moving forward in good faith.

Pearl Asian Mining is listed on the Frankfurt Stock Exchange, but can't trade there for less than .001 so this action is necessary not only to allow our shares to immediately trade on an actual stock exchange but it also makes it more realistic for us to list on other exchanges throughout the world.

Lastly, "Pearl Asian hopes this helps you to understand the logical and legal reasoning for this corporate action that affects all common shareholders equally," explained CEO Piamonte.

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Pearl Asian Mining Industries Inc.

Pearl Asian Mining Industries Inc. - Philippines Investor Relations: Gary Gotanco, USA, 310-728-6907 or 866-732-7888 P.I. - 011.63.2.567.5163 IRPAIM*hotmail.com www. PearlAsianMining.com Fax: 877-317-4430

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"No nation was ever ruined by trade." Benjamin Franklin

Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006  |  IP: Logged | Report this post to a Moderator
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