SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
PAN AM CORPORATION
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.0001
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(Title of Class of Securities)
The remainder of this cover page shall be filled out for a reporting
person's filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information requested in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act, but shall be subject to all other provisions of the Act (however, see
the Notes.)
697758100
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(CUSIP Number)
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
Cardinal Investment Services, Inc.
(f/k/a Community Investment Services, Inc.)
I.R.S. Identification No. 65-0104569
(2) Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ] (b) [ ]
(3) SEC Use Only
(4) Citizenship or Place of Organization: State of Florida, U.S.A.
Number of (5) Sole Voting Power 20,000
Shares Bene-
ficially (6) Shared Voting Power 0
Owned by
Each Report- (7) Sole Dispositive Power 339,940
ing Person
With (8) Shared Dispositive Power 0
(9) Aggregate Amount Beneficially Owned by Each Reporting
Person: 339,940
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
(11) Percent of Class Represented by Amount in Row (9) 0%
(12) Type of Reporting Person: BD, IA, CO
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SCHEDULE 13G
PAGE 2
ITEM 1(A). Name of Issuer:
Pan Am Corporation
ITEM 1(B). Address of Issuer's Principal Executive Offices:
9300 N.W. 36th Street, Miami, Florida 33178
ITEM 2(A). Name of Person Filing:
Cardinal Investment Services, Inc.
ITEM 2(B). Address of Principal Business Office:
800 Douglas Road, Suite 340
Coral Gables, Florida 33134
ITEM 2(C). Citizenship:
State of Florida, U.S.A.
ITEM 2(D). Title of Class of Securities:
Common Stock, par value $.0001
ITEM 2(E). CUSIP Number:
697758100
ITEM 3. This Schedule is filed pursuant to Rules 13d-1(b), or 13d-2(b),
and the person filing is a:
(a) [X} Broker or Dealer registered under Section 15 of the
Act
(b) [X] Investment Advisor registered under Section 203 of
the Investment Advisers Act of 1940
ITEM 4. Ownership.
Inapplicable.
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SCHEDULE 13F
PAGE 3
ITEM 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X]
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
Inapplicable.
ITEM 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Inapplicable
ITEM 8. Identification and Classification of Members of the Group.
Inapplicable
ITEM 9. Notice of Dissolution of Group.
Inapplicable
ITEM 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
/s/ HERSHEL F. SMITH, JR.
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Signature
/s/ HERSHEL F. SMITH, JR./President of Cardinal Investment Services, Inc.
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Name/Title
