In a bowl, combine the beef, egg, panko bread crumbs, salt and pepper. Mix very well. Lightly score the mixture into fourths in the bowl, and make a mental note to get 5 meatballs from each quarter. Begin rolling out 20 meatballs.

Meanwhile, heat the oil in a large non-stick skillet over medium high heat. Drop the meatballs in and do not touch them until the first side turns a deep brown. If you move the meatballs in the pan, they will lose their shape. Cook in several batches if all 20 won’t fit in the pan at once.

Meanwhile, whisk together the ketchup, vinegar, honey, garlic powder and salt. Set aside.

When the meatballs are nicely browned on all side, remove them from the skillet. Drain the excess drippings. Gently return the meatballs to the pan and add the ketchup mixture. Bring to a simmer and cook for 5 minutes.

Serve immediately.