posted
Think everyone is getting ready for turkey day. Overseas here so nothing else to do. May pick up nicely on EOD for nice flip then jump back in on Friday. Happy holidays to all.
Posts: 395 | From: south dakota | Registered: Nov 2006
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posted
Seem like a solid company here. Anybody still in this one? This news came out on Wednesday. It seems like it could be a very nice play from here.
Shearson Financial Network, Inc. Reports Increase in Earnings for the Three and Nine Months Ended September 30, 2006
LAS VEGAS, NV, Nov 22, 2006 (MARKET WIRE via COMTEX) -- 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
SOURCE: Shearson Financial Network
Copyright 2006 Market Wire, All rights reserved
Posts: 17 | Registered: Nov 2006
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posted
I missed this boat before T-day. With numbers like that it could eventually go higher and retraces added into the mix. You guys made good here!
Posts: 442 | Registered: Oct 2003
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quote:Originally posted by next1: most likely setting up for a nice run soon
Looking good next1. I can't believe what I am looking at down here. Just looking at their 10q and their numbers now... Not bad so far...
Posts: 17 | Registered: Nov 2006
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posted
This news is from last week, Did everyone miss it due to the holiday?
Shearson Financial Network, Inc. Reports Increase in Earnings for the Three and Nine Months Ended September 30, 2006 Wednesday November 22, 10:56 am ET
LAS VEGAS, NV--(MARKET WIRE)--Nov 22, 2006 -- Shearson Financial Network, www.sfnncorp.com, (OTC BB:SFNN.OB - News) 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. ADVERTISEMENT
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."
Posts: 17 | Registered: Nov 2006
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posted
SFNN has been added to the naked short list today.... **********: REDF, SFLK, SFNN, SMTE, UWNK Have Also Been Added To Naked Short List Today
Dec 01, 2006 (M2 PRESSWIRE via COMTEX) -- **********, www.**********, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short threshold list: Rediff.Com India Limited (NASDAQ: REDF), Saflink Corporation (NASDAQ: SFLK), Shearson Finl Netwk (OTCBB: SFNN), Simtek Corporation (OTCBB: SMTE), uWink, Inc. (OTCBB: UWNK). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.**********. Rediff.Com India Limited (NASDAQ: REDF) provides online news, information, communication, entertainment, and shopping services focusing on India and the worldwide Indian community. Its Web sites consists of interest specific channels relevant to Indian interests, such as cricket; astrology; matchmaker and movies; content on various matters like news and finance; search facilities; a range of community features, such as email, chat, messenger, and e-commerce; broadband wireless content; and wireless short messaging services to mobile phone subscribers in India. The company also publishes two weekly newspapers aimed at the Indian-American community based in the United States and Canada. As of March 31, 2005, the company had 36 million online registered users. The company was founded in 1996 by Ajit Balakrishnan under the name Rediff Communication Private Limited. It subsequently changed its name to Rediff.com India Limited in 2000. The company is headquartered in Mumbai, India. With 29.08 million shares outstanding and 1.16 million shares declared short as of Oct 2006, there is a failure to deliver in shares of REDF.
Saflink Corporation (NASDAQ: SFLK) provides software and hardware solutions for the protection of critical business assets. It offers biometric and smart card application software and hardware, and public key infrastructure solutions that protect intellectual property, secure information assets, and eliminate passwords. The company's biometric technologies automatically identify individuals by electronically capturing a specific biological or behavioral characteristic of that individual, such as a fingerprint, iris pattern, voiceprint, or facial feature, creating a unique digital identifier from that characteristic and then comparing it against a previously created and stored digital identifier. Its solutions provide Identity Assurance Management, which enables administrators to verify identity and control access to computer networks, physical facilities, applications, and time and attendance systems. The company also resells iris recognition, voice verification, and facial feature recognition software from various companies through licensing arrangements. Saflink offers its products to end-user customers in the healthcare, manufacturing, education, government, and financial services industries in North America. In addition, the company provides maintenance, installation, and integration consulting services related to its software and hardware products. Saflink markets its products through direct sales representatives, distributors, and resellers. Saflink was founded in 1988 and is headquartered in Bellevue, Washington. With 88.91 million shares outstanding and 427,710 shares declared short as of Oct 2006, there is a failure to deliver in shares of SFLK.
Shearson Finl Netwk (OTCBB: SFNN) operates as a direct-to-consumer mortgage broker and banker. The company originates mortgage loans and home equity loans in the United States. Its mortgage loan products include conforming mortgage products, which are adjustable and fixed rate loan programs; alternative A/sub prime mortgage products; fixed rate amortizing and fixed rate with a balloon payment programs; JUMBO loans, which are adjustable and fixed rate loan program; and fixed-rate first mortgage loans. As of December 31, 2005, Shearson Financial Network operated through 28 retail branches in 12 states. The company was founded in 2000. It was formerly known as Blue Star Coffee, Inc. and changed its name to Consumer Direct of America in 2002. Further, the company changed its name to Shearson Financial Network, Inc. in June 2006. Shearson Financial Network is headquartered in Las Vegas, Nevada. With 240.11 million shares outstanding and 43,470 shares declared short as of Oct 2006, there is a failure to deliver in shares of SFNN.
Simtek Corporation (OTCBB: SMTE) engages in the design and marketing of re-programmable and nonvolatile semiconductor memory products. It designs and develops 1-megabit, 256-kilobit, 64-kilobit, and 16-kilobit nonvolatile semiconductor memory products, and associated products and technologies, as well as develops sources of supply and distribution channels. The company also provides electronics engineering research and development contracts. Its products are used in high performance workstations, GPS navigational systems, robotics, copiers and printers, broadcast equipment, computers, copiers, factory controllers, electric meters, and military systems. The company operates in the United States, the United Kingdom, and Hong Kong. Simtek Corporation was founded by Richard Petritz and Gary Derbenwick in 1986. The company is headquartered in Colorado Springs, Colorado. With 8.12 million shares outstanding and 3,747 shares declared short as of Oct 2006, there is a failure to deliver in shares of SMTE.
uWink, Inc. (OTCBB: UWNK) engages in the design and development of interactive entertainment software and platforms for restaurants, bars, and mobile devices in the United States. It develops uWink Media Bistro, an interactive entertainment restaurant concept that enables customers to order food, drinks, and games/media at their table through touch screen terminals. The company also licenses SNAP!, a countertop video game terminal technology; and Bear Shop, an entertainment vending platform technology for animated point of purchase vending. uWink was founded in 1982 and is based in Los Angeles, California. With 18.96 million shares outstanding and 32,810 shares declared short as of Oct 2006, there is a failure to deliver in shares of UWNK.
About **********
WWW.********** is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. ********** has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
********** has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted, www.**********/squeezetrigger.pdf. The SqueezeTrigger database of nearly 1,100,000,000 short sale transactions goes back to January 1, 2005, and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005, because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like ********** to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, ********** provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money.
All material herein was prepared by **********, based upon information believed to be reliable. The information contained herein is not guaranteed by ********** to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. ********** is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. ********** may receive compensation in cash or shares from independent third parties or from the companies mentioned.
********** affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.
********** will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and ********** undertakes no obligation to update such statements.
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info*m2.com.
posted
SFNN will crush any shorts. IMO I guess it is all part of the game though..... Nice buying opportunity here. IF you can find another OTcBB Like SFNN down here, Please let me know... Posts: 17 | Registered: Nov 2006
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posted
Excellent news! Just received email response from CEO Michael Barron about naked shorting!
"We from time to time have suspected there is a naked short but have not been able to prove it. One thing we are planning is a share count audit which we will have our transfer agent conduct for us. We are contemplating this in conjunction with a dividend we may issue. This will force the shorts to cover their positions as they will need to buy in and produce evidence of actual ownership. Certs will be collected and retired and new ones issued as part of the certification process. Anyone short will be history.
We are not alone in this situation, but at least we have a plan." - mb
Posts: 74 | From: USA | Registered: Sep 2005
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quote:Originally posted by SilverSurfer314: Excellent news! Just received email response from CEO Michael Barron about naked shorting!
"We from time to time have suspected there is a naked short but have not been able to prove it. One thing we are planning is a share count audit which we will have our transfer agent conduct for us. We are contemplating this in conjunction with a dividend we may issue. This will force the shorts to cover their positions as they will need to buy in and produce evidence of actual ownership. Certs will be collected and retired and new ones issued as part of the certification process. Anyone short will be history.
We are not alone in this situation, but at least we have a plan." - mb
Given that he shared this with me, and in writing, I'm sure we'll see a press release about this, soon!
Posts: 74 | From: USA | Registered: Sep 2005
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posted
I can't believe that this stock is only trading at .03!! With Revenues and Assets like this A/S- 500,000,000 O/S- 240,112,210 Float- 96m
Look at their income: ****Net worth increased to $47.8 million.**** Total assets: $84,433,397 9 months REVS: $14,003,738 9 months NET Revs: $4,450,211 EPS: .04
it should be trading near .20! SFNN showed up on the Reg SHO on 30 November too. We'll see what happens this week....totally undervalued IMO.
Posts: 59 | From: Huntsville Alabama | Registered: Mar 2004
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