Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » PGNF-Acquisition of Shearson Home Loans From Consumer

 - UBBFriend: Email this page to someone!    
Author Topic: PGNF-Acquisition of Shearson Home Loans From Consumer
matto
Member


Member Rated:
4
Icon 1 posted      Profile for matto         Edit/Delete Post   Reply With Quote 
Paragon Announces Acquisition of Shearson Home Loans From Consumer Direct of America, Inc.
2/7/06

PONTE VEDRA BEACH, Fla., Feb 07, 2006 /PRNewswire-FirstCall via COMTEX/ --
Paragon Financial Corporation (OTC Bulletin Board: PGNF), a consolidator in the highly fragmented financial services marketplace, announced today that it reached an agreement to acquire Shearson Home Loans, Inc. from Consumer Direct of America, Inc. (OTC Bulletin Board: CSUA). Under the agreement, Paragon will issue to Consumer Direct of America the equivalent of four shares of Paragon's common stock for each Paragon share and share equivalent outstanding.

Shearson Home Loans, Inc. is a fast-growing provider of residential mortgages. It employs over 300 people, 250 of whom are residential mortgage real estate brokerage professionals who had closed-loan volume of $1.1 billion, which accounted for over 6,435 loan transactions in 2004. Shearson operates 54,000 sq. ft. of branch office space with 37 locations in 30 states. The company is a consolidator of independent mortgage brokerages and has grown rapidly during the last three years through acquisition and consolidation.

"We view Shearson as an ideal partner in our quest to consolidate the mortgage brokerage industry," said Paul Danner, CEO of Paragon Financial Corporation. "Not only do we share the same vision for the industry, but melding our complementary management talent, business processes, and geographic locations into a single operating entity should produce positive tangible synergy," he added.

"With the completion of this transaction, we no longer have to advance the theoretical concept of a desired end-state, but instead are able to clearly demonstrate to prospective acquisition candidates a proven, fully-functional operating platform," said Scott Vining, chief financial officer of Paragon.

About Paragon Financial Corporation

Paragon Financial Corporation (http://www.pgnf.com) is a financial services business focused on the acquisition of companies that originate mortgages loans or provide other financial services.

--------------------
Trading is a blast!!

Posts: 4921 | From: Rhode Island | Registered: May 2005  |  IP: Logged | Report this post to a Moderator
matto
Member


Member Rated:
4
Icon 1 posted      Profile for matto         Edit/Delete Post   Reply With Quote 
http://stockcharts.com/gallery/?PGNF

--------------------
Trading is a blast!!

Posts: 4921 | From: Rhode Island | Registered: May 2005  |  IP: Logged | Report this post to a Moderator
matto
Member


Member Rated:
4
Icon 1 posted      Profile for matto         Edit/Delete Post   Reply With Quote 
Outstanding Shares: 116,396,478 as of 2004-03-23

--------------------
Trading is a blast!!

Posts: 4921 | From: Rhode Island | Registered: May 2005  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share