LAS VEGAS, NV -- (MARKET WIRE) -- 10/18/06 -- Shearson Financial Network (OTCBB: SFNN) and its subsidiaries Shearson Home Loans, a fast growing mortgage banker/broker, and RPT, a property information company, announced today its operating net worth has grown in excess of $40 million according to interim company prepared financial statements released to its major warehouse lenders, RFC and IMPAC. The statements also show an increase in assets to $87 million for the eight months ending 8/30/06. Typically, the Company will be able to borrow from its warehouse lenders 10 times the tangible net worth amount on its statements. The statements were released as part of ongoing compliance requirements from the Company's warehouse banks. The increase in the net worth and asset base has been due to increased branch recruitment over the last six months and recent acquisitions.
Chairman & CEO Michael A. Barron said, "Shearson continues to execute on its program of growth through acquisition and integration. We are pleased our financial condition is reaching these new highs during 2006."
About Shearson Home Loans
Shearson Home Loans is a fast-growing provider of residential mortgages. It employs over 500 people in the residential mortgage division. Shearson operates 54,000 sq. ft. of branch office space with 37 locations in 47 states. The company is a consolidator of independent mortgage brokerages and has grown rapidly during the last three years through acquisition and consolidation. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.shearsonhomeloans.com.
Contacts: Michael Barron Shearson Home Loans 702-868-7900
Posted by SilverSurfer314 on :
This company is poised for excellent growth and earnings!
I did some digging and found the following information regarding institutional and company officer insider holdings (as of April-2006; see pertinent section of http://www.secinfo.com/d12TC3.vsbv.htm#3bat):
Michael A. Barron (President, Chief Executive Officer and Director) holds 7,714,918 (8%) shares.
Lee Shorey (Chief Financial Officer and Director) holds 67,000 (0.1%)
Joseph Cosio-Barron(-President) 12,488,618 (12.9%) Crusader Capital Partners 15,361,462 (16.0%) Eclipse Holding Corporation 22,469,999 (23.4%)
All Officers and Directors as a group (4 persons) 20,203,536 (20.9%)
Posted by SilverSurfer314 on :
Good news, fellow investors!
Yesterday evening, I finally got in touch with the CEO/President Michael Barron. We had a really good conversation. He is an earnest, shrewd, and straightforward fellow who cares. We discussed the company and the stock. Per our discussion: He stated that the company was able to take advantage of the compression of the home market over the last year by making very smart, strategic, and cost-effective acquisitions in the sector. And now that their mortgage network infrastructure is built up, in place, operating, and generating windfall revenues, and now that that they've focused on the business, they will now concentrate more of their energies on communicating with the shareholders on a regular basis and restoring value to the stock's pps. Along these lines, he expressed his concern over the undervaluation of the stock's current pps. We discussed the possibility of the existence of a large short position in the stock. They are investigating it right now. He mentioned acquiring a NOBO list!!! Furthermore, he agreed to disclose the current share structure, the OS and float counts. I expect this information this week. I got the impression that these numbers have not changed or have not changed much. He said that they are working on updating the company website. Finally, he stated that there is a really "good piece" of news coming out very soon!!!. He did not say what it was or when it would be released, but I got the impression that the imminent news was very good and would be out on the wire before the release of the financials in a few weeks. That was the crux of my conversation with the CEO/President. Great man, great company!
I had already felt good about being invested here. Now my feelings are reaffirmed!
Currently, .0101 x .0125! This is a great bottom play, buy and hold!
Posted by SilverSurfer314 on :
As of June-2006, the OS stands at around 99 million and float at around 40 million.
Posted by Squire38 on :
On Radar. Looking for support at 0.0065-70 for a bounce.
Posted by Squire38 on :
Well it seems it may have bouced before the 65-70 range. Up 50% this morning.
Posted by anders19199 on :
already got in on this today .013-.014
Posted by anders19199 on :
took a dip to .01 now is the time to buy!
Posted by SilverSurfer314 on :
This is a buy and hold here. There's lots of upside potential in this one, and per the CEO, there's a "good piece" of news coming soon, before the release of financials (which should be excellent) in a few weeks!
Posted by Squire38 on :
Up 62.5%
Posted by anders19199 on :
lot of buys coming . . . way above avg volume!! .014 now up 75%
GO SFNN GO!!
Posted by anders19199 on :
.015 now GO GO GO
Posted by Squire38 on :
0.016
Posted by Homersbud on :
I'm in for 50k at 013
This does look good!
Posted by SilverSurfer314 on :
There's alot more to come, based on my DD.
Posted by SilverSurfer314 on :
Volume picking up, nearly 10 million shares traded (that's more than 50% the daily record volume).
.012 x .013! Will not be here for long.
This is a great bottom play!
Posted by SilverSurfer314 on :
.0135 x .0139!
Posted by SilverSurfer314 on :
.0149 x .015!
Posted by anders19199 on :
making end of day run
Posted by anders19199 on :
at .0165 in after hours
Posted by Homersbud on :
Sweet close!
Any news next week should send this to at least 03 with no questions asked Posted by SilverSurfer314 on :
Excellent day here today on extraordinary volume! Closed at .016, up 100%. This is just a precursor of what's soon coming our way.
Posted by SilverSurfer314 on :
.017 x .019, up 18% this morning on good volume!
Posted by SilverSurfer314 on :
.018 x .019, and RSI about to cross up through 50!
Posted by SilverSurfer314 on :
.019 x .0197!
Posted by SilverSurfer314 on :
.0205 x .021!
Posted by Homersbud on :
Sweet!
Tons of buys at 021
02x021 2x1
Posted by trade2win on :
Guys, thanks for this pick. Any suggestions from chart experts on exit points?
Posted by Squire38 on :
I'm looking for 0.027 cents myself. Then I sell 1/3 of my shares to get my capital out. Then I'll ride out the rest with free shares. Hoping to get past 0.035 personally.
Posted by SilverSurfer314 on :
One of SFNN's largest institional investors purchased most of their shares at .05, and the SMA-200 is right around .0425. This is still a bottom play, with lots of upside potential to be realized. Good news and good financials coming soon!
Posted by trade2win on :
Thanks Silversurfer, are they going to declare their quarterly results?
Any pointers will help in building confidence.
Posted by SilverSurfer314 on :
Closed today at .018, up 12.5% on nearly 9 million in volume. Building higher support levels while breaking through the 30- and 50-SMA's. Good news and good financials pending. A "good piece" of news, per the CEO, might release tomorrow or Wednesday (company apparently likes to make press releases on Tuesdays and/or Wendnesdays.); and good financials are expected on time on or around November 21, 2006.
Posted by SilverSurfer314 on :
Currently .015 x .016, consolidating before the next sprint up... great entry level price point!
Posted by SilverSurfer314 on :
.016 x .017 with over 3 million in volume!
Posted by SilverSurfer314 on :
.017 x .0175, closed at .017.
Posted by Homersbud on :
I'm still in.
Seems to be good support at 016
Posted by SilverSurfer314 on :
.0185 x .019, up 11% this morning!
Posted by trade2win on :
is there news coming today?
Posted by SilverSurfer314 on :
Looking good for an EOD move up! L2's are looking really thin...
.018 x .019!
Posted by Homersbud on :
Sweet close!
02! Looking good for tomorrow Posted by SilverSurfer314 on :
Yes, closed at .02 (up 17.65%) with over 3 million in positive volume. Lots more coming!
Posted by SilverSurfer314 on :
Looking really strong/bullish this morning * .02 x .022, gapping up. We had excellent EOD volume/momo. RSI crossed over 50, and now sitting comfortably above the SMA-50. MACD looking enticing too. Check out the charts!!! Today should be a mover.
Posted by SilverSurfer314 on :
.022 x .023!
Posted by SilverSurfer314 on :
.02 x .021! Good entry level before next run-up. Good news and great financials coming soon!
Posted by SilverSurfer314 on :
Volume picking up... buys hitting the ask * .021!
Posted by SilverSurfer314 on :
.022 x .023, up 15% with nearly 1 million in positive volume this morning!
Posted by SilverSurfer314 on :
.024, up 20% with nearly 2 million in positive volume!
Posted by SilverSurfer314 on :
EOD buying near HOD. Over 3 million in positive volume. Next week will be big with good news and great financials right around the corner!
Posted by SilverSurfer314 on :
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