Shearson Financial Networks Inc. (SFNN)
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Shearson Home Loans Enters Into a Joint Venture With Stinson Financial
Shearson Financial Network Inc. (OTCBB: SFNN) reports that its subsidiary, Shearson Home Loans, has entered into a joint venture agreement with Stinson Financial, a mortgage banking company based in San Diego, California. The agreement enables Stinson's 30-branch loan origination platform to operate within Shearson Home Loans mortgage banking infrastructure.
http://www.leimortgage.com/articles/Mortgage%20Companies%202007.pdf
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For sharholders who believe in SFNN, here is a letter from mb to one of the investors. MB is very firm in his bellief that this is way too undervalued and will reach its fair value soon.This is no insider info, just to show how company addresses the Investor concerns and is working hard to have the share its fair value
To: XXXXXXXXXXXXXXXXXXXXXXXXX
Date: Mon, 16 Apr 2007 23:44:17 +0000
Subject: Re: Investors worried about SFNN fair value
XXXX: The company is doing what it can by making earnings & telling the world about it. We are all investors in the stock here also and want it to go up. I don't understand why anyone would sell at these levels. Our plan for the year is to visit institutional buyers and road show the company with the mission of gaining long support. I don't believe there is a short cut here nor will the issues you raised be solved overnight. However, so long as a company can continue to earn profits, sooner or later the value will be reflected in the trading price. We are dedicated to that cause. - mb
To: XXXXXXXXXXXXXXXXXXXXXXXXX
Date: Mon, 16 Apr 2007 23:44:17 +0000
Subject: Re: Investors worried about SFNN fair value
XXXX: The company is doing what it can by making earnings & telling the world about it. We are all investors in the stock here also and want it to go up. I don't understand why anyone would sell at these levels. Our plan for the year is to visit institutional buyers and road show the company with the mission of gaining long support. I don't believe there is a short cut here nor will the issues you raised be solved overnight. However, so long as a company can continue to earn profits, sooner or later the value will be reflected in the trading price. We are dedicated to that cause. - mb
[b]Shearson Financial Network, Inc. Moves to Expand Its Warehouse Banking Capacity[/b]
Shearson Financial Network, Inc. (OTCBB: SFNN) (www.sfnncorp.com) announced today that its wholly owned subsidiary, Shearson Home Loans (www.shearsonhomeloans.com), has applied to expand its warehouse banking capacity by $20 million. Amid growing originations at the Company, additional mortgage warehouse lines of credit are needed to meet the demand for banked products. The Company currently has in excess of $20 million in warehouse banking credit lines.
"Our Company is experiencing strong growth due to an aggressive recruitment program following a first quarter that saw many of the industry originators depart the business. We are facilitating a home for many of the displaced loan officers and wholesale account personnel within Shearson and welcome their business," stated Michael Barron, CEO and Chairman of Shearson Financial Network, the Company's parent. "The additional credit facility is part of our plan to expand the loan volume we bank through our loan center."
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.
About Shearson Financial Network, Inc.
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.shearsonfinancialnetwork.com. www.sfnncorp.com or www.shearsonhomeloans.com
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:
Shearson Financial Network
Las Vegas, Nevada
Michael Barron
702-868-7922
es geht schon aufwärtz
Mfg
Umsatz deutlich gestiegen aber immer noch verluste gemacht
wobei diese um über 70% gesenkt wurden
mal sehen wie die Börse reagiert
Mfg
Gabs eine DIVI, kann nichts darüber finden
Mfg
Na das kann ja noch was werden
http://biz.yahoo.com/e/070814/sfnn.ob10qsb.html