posted
Silver, have you been able to reach the company to find out where the PR is? I still have not gotten through today... The L2s are set up perfect for a big run, we just need that news!
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posted
FWIW...According to the release times of their last PRs and due to the fact that they are located out west, there's a good possibility they will relese the news this afternoon, instead of this morning...
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posted
this slow upward movement kind of reminds me of Fridays trading, and that turned out to be a great day! Once they release the news over the wire we should fly...
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quote:Originally posted by SilverSurfer314: Also,note that their revenues jumped to $14,003,738 for the 9 months ending Sep-30, 2006 (an increase of 123% over last year's figure of $6,266,648 for the 9 months ending Sep-30, 2005); and further note, that the revenues are based in part on only being able to materially include the contributions of Real Properties Technologies ($24 million per year in revenues) and Allstate Funding ($24 million per year in revenues) for 4 months and 2 months, respectively!!! All the key financial numbers are positive and advancing swiftly in the right direction. The next financial statement will be even better, as their revenue generating assets will be materially included for that much longer! Looking forward to a great press release this morning, or at some point today!
.018 x .019!
Posts: 74 | From: USA | Registered: Sep 2005
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posted
Just got off the phone with the company, they said they are working on the PR and are trying to get it out before tomorrow. He stated that they were extremely busy and they understood how important it was to let the public know how well the company is doing!
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quote:Originally posted by RichBy26: Just got off the phone with the company, they said they are working on the PR and are trying to get it out before tomorrow. He stated that they were extremely busy and they understood how important it was to let the public know how well the company is doing!
Sweet! I just bought another 100k at 0175. Hopefully we can get a nice run going before the PR hits and booooooom!
017x018 3x1
Posts: 3026 | From: Chicago | Registered: Oct 2005
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quote:Originally posted by RichBy26: Just got off the phone with the company, they said they are working on the PR and are trying to get it out before tomorrow. He stated that they were extremely busy and they understood how important it was to let the public know how well the company is doing!
Good work, Rich!!!
Posts: 74 | From: USA | Registered: Sep 2005
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posted
Not my normal type of play, but those financials are hard to ignore. I think if they PR these numbers in the right light, it could possibly run big...
posted
News coming today, I called again last night to ask about the status of the PR and they said that it would be out before the Holiday... When they release the numbers from the 10Q it will move fast!
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Shearson Financial Network, Inc. Reports Increase in Earnings for the Three and Nine Months Ended September 30, 2006
LAS VEGAS, NV -- (MARKET WIRE) -- 11/22/06 -- Shearson Financial Network, www.sfnncorp.com, (OTCBB: SFNN) reported earnings of $4,450,211 for the nine months ended September 30, 2006 and earnings of $2,474,658 for the quarter ended September 30, 2006, as reflected on the Company's Form 10Q filed with the SEC on November 20, 2006.
For the nine months ended September 30, 2006, revenues increased $7.7 million to $14 million from revenue of $6.3 million during the same period for the prior year. Gross profit increased $7.1 million to $10.9 million, as compared to $3.8 million for the same period in 2005. Earnings per share increased to $0.04, from a loss per share of $0.34 during the same period in the prior year. Net worth increased to $47.8 million from $(5.5) million as of September 30, 2006.
Both operating units of the Company, Shearson Home Loans and Real Properties Technologies ("RPT"), posted operating profits during the period. Net revenues from origination and/or sale of loans from Shearson Home Loans, the company's mortgage banking subsidiary, increased 5% or $313,000, to $6.6 million for the nine months ended September 30, 2006 from $6.3 million for the nine months ended September 30, 2005. The increase in revenues is directly related to the Company's acquisition of Allstate Funding Corp and its purchase of certain assets of eHome Credit Corp., of which revenues totaled approximately $5.7 million.
The Company's CEO and Chairman Michael Barron stated, "We believe our operating results in both the RPT unit and the Shearson Home Loans are reflective of the progress the Company is making with our acquisition strategy in both industry segments. We have had our challenges in the past and now look forward to realizing our future growth potential under our current business strategy."
CONTACT: Shearson Financial Network Las Vegas, Nevada Michael Barron 702-868-7922
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