-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Thanks doubles. Was playin for a quick flip only. probably flip out tomorrow either way.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
We'll see. I would have thought you had to be in by cob on the 18th. everyone should have their shares by the 21st. Still looking for this to bounce around. and if it does go to .001 may just load the boat. i thought this being an OB they had to announce the split. Seems a bit out of the ordinary to me. Not very shareholder friendly anyway. We'll see how they explain it in a pr possibly. a/s is now 1B.
-------------------- Posted by: RhapsodyInBluze In reply to: None Date:6/18/2007 11:12:08 AM Post #of 12388
Put on your thinking hat...
"Conversion. Upon issuance, the Series A-1 Convertible Preferred Shares are not convertible until an amendment to the Corporation's Certificate of Incorporation is filed that increases the authorized shares of common stock. Upon filing and acceptance of the amendment pursuant to the General Corporation Law of the State of Nevada each share of Series A-1 Convertible Preferred Shares shall be converted into the Company’s common stock as stipulated per agreement."
Now... the AS is increased...but...does a F/S qualify?????
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Shearson Financial Network, Inc. Doubles Mortgage Banking Capacity Tuesday June 19, 9:00 am ET
Shearson Financial Network, Inc. and Dollar Mortgage Announce Financial Partnership
LAS VEGAS, NV--(MARKET WIRE)--Jun 19, 2007 -- Shearson Financial Network (OTC BB:SFNN.OB - News), a consolidator in the highly fragmented mortgage brokerage marketplace, announced today that it reached an agreement to acquire all of the assets and operational businesses of Dollar Mortgage Corporation of La Mesa, California. Under the agreement, Shearson Financial Network will issue to Dollar's shareholders a combination of cash and stock valued in excess of one million dollars. The transaction is scheduled to close in June 2007. ADVERTISEMENT
Dollar is a fast-growing provider of residential mortgages and is a licensed mortgage banker in over 40 states. It employs fifty-five people and is funded through its mortgage bank business, which registered in excess of $300 million during 2006. Dollar operates 11,000 sq. ft. of branch office space in La Mesa, California and is primarily a wholesale lender nationwide. Dollar Mortgage seeks expansion and has looked to Shearson as a partner to reach new markets.
"We view Shearson Financial Network as an ideal partner in our quest to expand our operations in the mortgage industry," said Ron Krueger, CEO of Dollar. "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.
"This is an important step in a business combination that both parties hope will have substantial benefits," stated Michael Barron, CEO and Chairman of Shearson Financial Network. "As we are able to provide resources to Dollar to expand its client base, Shearson has a unique opportunity to expand in a market that has been shrinking. Dollar has been well managed and has escaped the fate of others during the sub-prime collapse. It is a great base to build upon."
About Shearson Financial Network
The company is a consolidator of independent mortgage brokerages. Shearson operates 17,538 sq. ft. of branch office space licensed in 33 states. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.sfnncorp.com or www.shearsonhomeloans.com
Shearson Financial Network, Inc. reported net income of $2.8 million for the year ending December 31, 2006 and the company's operating unit, Shearson Home Loans, contributed $ 1.6 million to earnings. The value of Assets held by SFNN increased to $30.6 million for the year ended December 31, 2006 from $4.4 million in 2005, an increase of 590%. Net worth increased to $6.4 million from $(7.8) million during the same period, representing an increase of $14.2 million. Revenue from the originations of loans increased 25% or $1.7 million to $8.5 million Earnings per share for the year ended December 31, 2006 was $0.02 as compared to a loss per share of $0.50 from the year ended December 31, 2005.
SEC Filings and Forward-Looking Statements
Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected results and market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.
Contact: Contacts: Shearson Financial Network, Inc. Las Vegas, Nevada Michael Barron 702-868-7922
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
watching NITE at .004 for the bounce. We'll see. lost my comish total ($12) for my foolishness. in at .005 out .0049.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: watching NITE at .004 for the bounce. We'll see. lost my comish total ($12) for my foolishness. in at .005 out .0049.
I will admit I did the same exact thing, oh well. BUT, I have NEVER heard of a subpenny stock doing a FS, especially unannounced... fishy...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
What good is a F/S anyway when your shares double, but the pps drops 50%. This has the same affect as dilution, so watch out, if the pps drops too much a big R/S may be next.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
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quote:Originally posted by BooDog: watching NITE at .004 for the bounce. We'll see. lost my comish total ($12) for my foolishness. in at .005 out .0049.
I will admit I did the same exact thing, oh well. BUT, I have NEVER heard of a subpenny stock doing a FS, especially unannounced... fishy...
oops i meant (17) not 12. I should learn math if i'm gonna be in this business. I haven't found the vote authorizing the increase to 1b much less the split Very fishy indeed. looks like i picked another doozy. lmao.
Posts: 7800 | From: Virginia | Registered: May 2006
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Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On June 15, 2007 Shearson Financial Network, Inc. (the “Company”), filed a certificate of change pursuant to NRS 78.209 with the Secretary of State of the State of Nevada (the “Certificate of Change”). Pursuant to the Certificate of Change the Company increased its authorized common shares from 500,000,000 to 1,000,000,000 shares. Additionally, pursuant to the Certificate of Change, as of June 15, 2007, the number of the Company’s issued and outstanding shares of the Company’s common stock was increased from 316,120,939, $0.001 par value, to 632,241,878 shares, $0.001 par value.
Posts: 1580 | From: World | Registered: Jul 2006
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posted
filed after the fact. pinky play in the ob's. maybe 18k shares will magically appear back in my account.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: filed after the fact. pinky play in the ob's. maybe 18k shares will magically appear back in my account.
my thoughts exactly. this stock had shreds of credibility in my mind, i always thought it was undervalued, a good buy, perhaps even NASDAQ quality, but those shreds of credibility have now turned to dust.
The ONLY thing that would resurrect my once high opinion of this mess is if I magically get the shares I sold today back on Thursday. Even then, I will sell them quickly and not look back as I will be so confused . This one is turning pink by the minute...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
yep, what a pos.. having flashbacks of LDHI, lol..thank heavens this pos treated me well actually, never got caught in it.. what a trap though, and the best could of got caught in it, always pays to DD.. just fed right into the shorts hands though, unreal..
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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