Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
MSRM ... Nearly a double since yesterday morning news. Low float, moves fast, still cheap under $.10 (52 week high is $3.80).
MSRM ... Gem on yesterday's news. Low-floater moves fast.
FMGL ... no problem getting a fill with ameritrade.
MSRM Up 20% and picking up nice volume now.
ONEV on a tear, up nearly 40%. Just getting started IMO.
MSRM signs MOU with Global Resource Corporation.
Press Release Source: Mobilestream Oil, Inc.
Mobilestream Oil, Inc. Signs Memo of Understanding with Global Resource Corp.
Monday October 30, 7:00 am ET
WEST BERLIN, N.J., Oct. 30 /PRNewswire-FirstCall/ -- Mobilestream Oil, Inc. (OTC Bulletin Board: MSRM.PK - News) and Global Resource Corporation (OTC Bulletin Board: GBRC.PK - News) jointly announced today they will be entering into a preliminary, non-binding Memorandum of Understanding for Global Resource Corporation's ("Global") acquisition of the assets and business of Mobilestream Oil, Inc. ("Mobilestream"). Mobilestream owns certain microwave technology, embodied in a pending patent, and various proprietary trade secrets for technology that had been exclusively licensed to Carbon Recovery Corporation. Global has recently acquired the assets and business of Carbon Recovery Corporation, including the exclusive license. The technology is a method of decomposing petroleum-based materials by subjecting them to variable frequency microwave radiation at specifically selected frequencies for a time sufficient to at least partially decompose the materials. The initial application will involve the decomposition of waste tires, as described in Form 8-K filed September 27, 2006.
ADVERTISEMENT
It was originally intended that the licensee would be the operating company, while Mobilestream would continue its R&D into the development of further applications for the technology, including: (1) re-cracking heavy or slurry oil to retrieve the components of hire grade fuels; (2) the recovery of oil from oil shale and oil sands; (3) the reduction of hydrocarbons in drilling cuttings to permit on-site disposal; and (4) the stimulation of mature oil and gas well ("stripper" well) production.
Upon analysis however, both Global and Mobilestream believe that, given the interrelationships of the Companies' management and the probable interface of the R&D with field operations, it will be more efficient, both financially and operationally, to combine the Companies. It is anticipated that the current management charts and the respective responsibilities of the licensor and licensee will be adjusted for maximum effectiveness.
The major acquisition term not yet resolved is the value of the Mobilestream technology and its reflection in the securities of Global. Mobilestream is retaining Corporate Valuation Advisors, Inc. to provide a fairness opinion on the terms when negotiated. Corporate Valuation Advisors, Inc. has previously evaluated the tire decomposition portion of the Company's technology and is therefore generally acquainted with it.
Frank Pringle, President of both Companies, explained: "We have previously obtained an independent valuation of the microwave technology limited specifically to the decomposition of waste tires. The full scope of the technology, however, includes the recovery of hydrocarbon liquids and gas from various sources. We believe that these applications add value to that already recognized. Accordingly, we do not believe that the current market price for Mobilestream's common stock accurately reflects its inherent value and we do not anticipate using that price as the primary factor."
Global intends to restructure itself as a holding company by forming two subsidiaries, one to receive the assets acquired from Carbon Recovery Corporation and the second to receive the assets of Mobilestream. In connection with that, Global shall change its fiscal year to December 31, as that is the fiscal year which had been used by Carbon Recovery Corporation and which Mobilestream currently uses. The transaction is tentatively scheduled to close by December 31, 2006.
About Mobilestream:
Mobilestream Oil, Inc., which has licensed its technology to Global Resource Corporation (GBRC), is an innovative oil and natural gas exploration company focused on using our proprietary technologies for reverse polymerization and pyrolysis of materials and to maximize the output of under- utilized and non-producing oil wells in order to squeeze out every last ounce of production. Increasing prices continue to make primary and less conventional methods for extracting oil more cost-effective, and while Mobilestream Oil is relatively small compared to some of the larger players in the industry, our size is our advantage as we feel we can more quickly and effectively capitalize on expeditious opportunities. Using these same proprietary technologies, Mobilestream has successfully broken down tires into the tires' component parts, capturing for resale virtually all of the raw materials used to manufacture the tires.
Contact:
Mobilestream Oil, Inc.
Phone: (856) 767-2450
Fax: (856) 767-2490
inquire@Mobilestreamoil.com
This news release contains forward-looking statements regarding Mobilestream's business strategies and future plan of operations. Forward- looking statements involve known and unknown risks and uncertainties. The company's risk and uncertainties include: intense price competition, economic, political and regulatory uncertainties, and the need to raise additional capital for growth and expansion. The forward-looking statements contained in this news release speak only as of the date hereof and Mobilestream disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Mobilestream's expectations or future events.
--------------------------------------------------------------------------------
Source: Mobilestream Oil, Inc.
ONEV ... Contract with Mexico's largest telecommunications company. Just getting started.
ONEV NEWS !! Awarded contract with $500B company.
Press Release Source: One Voice Technologies, Inc.
One Voice Technologies Awarded TELMEX Contract
Monday October 30, 9:15 am ET
LA JOLLA, Calif.--(BUSINESS WIRE)--One Voice Technologies, Inc. (OTCBB:ONEV - News), developer of 4th Generation voice solutions for the Telecom and Interactive Multimedia markets, today announced that it has been awarded a contract by Telefonos de Mexico, S.A. de C.V. (TELMEX) (NYSE:TMX - News) to offer One Voice's MobileVoice(TM) services in Mexico, beginning with a revenue generating pilot offered by TELMEX subsidiary Telefonos del Noroeste, S.A. de C.V. (TELNOR).
ADVERTISEMENT
"We are very pleased to have been selected by TELMEX to deploy our MobileVoice services in Mexico," said Dean Weber, president and CEO of One Voice Technologies. "Our strategic relationship with TELMEX will strongly align One Voice Technologies within Mexico and other Latin American countries. We see this contract as a first step in market penetration throughout this region with a very large growth potential."
About TELMEX
TELMEX is the leading Telecommunications Company in Mexico. TELMEX and its subsidiaries provide a wide range of telecommunications services, data and video transmission and Internet access, as well as integrated telecommunications solutions to its corporate customers. Additionally, it offers telecommunications services through its international subsidiaries in Argentina, Brazil, Chile, Colombia and Peru. More information about TELMEX can be accessed on the Internet at www.telmex.com
About One Voice Technologies, Inc.
One Voice Technologies, Inc. (OTCBB:ONEV - News) is the world's first developer of 4th Generation voice solutions for the Telecom and Interactive Multimedia markets. Our Intelligent Voice(TM) solutions employ revolutionary, patented technology that allows people to send messages (E-mail, SMS, Instant Messaging and paging), purchase products, get information and control devices - all by using their voice. The company is headquartered in La Jolla, California. For more information, please visit http://www.onev.com.
FORWARD-LOOKING STATEMENT DISCLAIMER
Some of the statements made in this press release discuss future events and developments, including our future business strategy and our ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements can generally be identified by words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," and similar expressions. These statements involve a high degree of risk and uncertainty that exists in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.
MobileVoice is a trademark of One Voice Technologies, Inc. All other products and company names herein may be trademarks of their registered owners.
Contact:
Investor Relations:
The Cervelle Group
Rob Karbowsky, 407-475-9966
Fax: 407-475-9859
rob@thecervellegroup.com
--------------------------------------------------------------------------------
Source: One Voice Technologies, Inc.
Looked like a nice move on low volume for a while today, but some sellers had to upset things near EOD. Oh well, at least there was a ray there. Maybe a progress PR will come out soon and get things moving. Doesn't appear to take much volume to make a difference.
USCS .13 up .03 Thinly traded, could be a gold mine. News from wednesday talks about potential $7.5B value in GOLD based on geological report ...
LAS VEGAS, Oct 25, 2006 (BUSINESS WIRE) -- USCorp (OTCBB:USCS) (Berlin:UCP.BER) is pleased to announce results from testing at the Picacho Gold Property. This USCorp property is located in the Salton trough area of Southern California, between the Chocolate Mountains and the Cargo Muchachos mountain range. The firm of Geological Support Services was retained to complete a Geological report on the Picacho Gold Property for USCorp. This report which has been recently completed, was headed by Dr. Robert Cameron, Ph.D.
Some of the findings in this report indicate that, Gold bearing alluviums on the property vary between 100' to 400' in thickness. Calculating for 100' thickness, Geological Support Services has given a reserve estimate of at least 423,338,666 TONS. Sampling of the property has indicated an average ore grade of .035 oz/ton, with higher numbers in selected hot spots. The gold in this deposit is "free" or not entrained in rock. Gravity separation should recover at least 85% of the heavy values.
This report stated that, if the Picacho gold Property were mined to a depth of 100' and using an 85% recovery rate, there is potentially 12,594,325 ounces of GOLD with a value of $7,556,595,200 when pricing gold at $600 per ounce.
Mr. Robert Dultz, Chairman and CEO of USCorp comments, "The findings of the Geological Support Services report that include these indications are both very gratifying and a strong endorsement for USCorp to grow and expand. We expect to move forward on the Picacho Gold Property in an expedient manner. USCorp is very confident that the Picacho gold Property has significant value and should be developed fully."
Forward-Looking Statements
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those discussed in "Risk Factors" in the company's Forms 10-KSB, Forms 10-QSB, 8-K and other filings with the U.S. Securities and Exchange Commission. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
ON BEHALF OF THE BOARD OF DIRECTORS
Robert Dultz, Chairman and CEO
SOURCE: USCorp
EQUR has news.
ATLANTA, GA, Oct 26, 2006 (MARKET WIRE via COMTEX) -- Equus Resources, Inc. (PINKSHEETS: EQUR) ("Equus" or the "Company") announced today that it has signed a definitive agreement with Best Practices Networks, Inc. ("BPN") to merge BPN's early learning business ("Early Learning") into the company which will also own the education operations of Equus pursuant to the proposed spin-off transaction announced earlier this year. BPN and Equus have formed a true partnership and will share equally in the initial ownership of the new company, to be named Global Education Partners Incorporated ("GEP").
The centerpiece of Early Learning is an extensive software and workbook series designed for children ages 3-10 featuring the world renowned cartoon character Garfield(R). The 18 product series is available in 26 languages and provides foundation building instruction in math, science, writing, reading and critical thinking.
As part of the agreement, Bernie Rice, the Executive Chairman of BPN, will become Chairman and CEO of GEP and will also remain BPN's Executive Chairman. Bernie Rice was in senior management with IBM for 24 years, attaining the positions of CFO of the $3 billion+ Southern Region and a Vice President of IBM Business Development. Among other functions, he managed IBM's partnership with Worldbook and Crayola for development of its breakthrough online research and learning platform. Bernie also served as CEO of Edmark, Inc., a large IBM subsidiary corporation which developed innovative educational software for kids. He orchestrated the successful spin-off of IBM's education content assets into Riverdeep, Inc., after which he became the Executive VP of Riverdeep. Bernie was a vital part of Riverdeep's explosive growth, helping it to become one of the fastest growing software companies in the United States. Today Riverdeep has education products in 45,000 schools in over 20 countries. Three years ago, Bernie left Riverdeep and co-founded BPN with Deborah Bond-Upson, a skilled and highly credentialed education executive with over 25 years senior management experience with well-known education companies, including Kaplan, Inc., the worldwide leader in educational services. Under the direction of Deborah and Bernie, BPN has become a leading innovator of easy-to-use online learning technology for K-12 students; adult career education students; teachers, administrators and other faculty; and school districts and individual public and private schools.
In making this announcement, Randy Harris, President of Equus, commented: "One of our visions has been to make a difference in the world. The addition of BPN's early learning program and Bernie Rice makes this dream come true. One of my strongest beliefs is that together we are what we could never be alone, and combining our education business with BPN's early learning business will make this belief a reality."
Randy added: "This transaction should create significant value for all Equus stockholders who own Equus stock when the spin-off is completed."
Bernie Rice stated: "I am truly excited about the synergies between BPN and Equus. This partnership allows a dedicated marketing focus on our early learning programs and the ability to undertake global partnerships in this rapidly-growing e-learning segment. The Garfield early learning series makes learning fun and kids absolutely love it. Our goal is to make our products the premier early learning tool worldwide."
The merger of the education operations into GEP and the commencement of trading in the new company are anticipated to occur within the next 45 days.
About Equus
Equus is a diversified financial and education services company offering its clients a broad range of real estate, financial and education services, mainly in Georgia and Florida. Equus plans to expand its core businesses and areas of operation through internal growth and acquisitions and to add related lines of business as demand dictates. Our principal offices are in Atlanta and Jacksonville. For more information on Equus, please visit www.equusresources.com. For more information on BPN, please visit www.bpn.net.
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company.
Contact:
Randy Harris
President
(888) 421-8326
(770) 442-2364
SOURCE: Equus Resources, Inc.
Keep up the meditation, we'd all be better off taking the time to reflect instead of being so compulsive. Good luck to us all.
I took another look at the filings and don't see anything nasty in them. I'm holding on too. That was $7.5B, by the way, wasn't it?
SLJB ... At this point, would be the scam of the year if the company doesn't deliver. There's been too much effort in promoting the stock and filling in the blanks. They could have put the projected revenues, etc out there and kept a low profile. Instead they've been very engaged throughout the process.
I bot a little also yesterday, PR was too tempting no to. Was surprised that price fell back by EOD. Anything in the filings stand out to you? I took a quick look, not too good at interpreting filings unfortunately. Notice any conversions coming up to cause dilution? At least the company does file, so that's a plus over the pinkies where folks are kinda throwing $$ blindly. Looks like the float is pretty small now, the bid/ask spreads seem to back that up too. If there's anything like the value PRed to back up the claim, seems the company should be able to get some financing without having to rely too much on dilution.
Surprised nobody else has visited the board, huh?
SBTG ... a good buy all the way right here.
USCS .14 up .064 ... On news of potential $7.4B worth of GOLD.
This trades as a filing .OBer with a low float. So here's the news ....
USCorp Announces Results of Picacho Gold Property Geological Report
LAS VEGAS, Oct 25, 2006 (BUSINESS WIRE) -- USCorp (OTCBB:USCS) (Berlin:UCP.BER) is pleased to announce results from testing at the Picacho Gold Property. This USCorp property is located in the Salton trough area of Southern California, between the Chocolate Mountains and the Cargo Muchachos mountain range. The firm of Geological Support Services was retained to complete a Geological report on the Picacho Gold Property for USCorp. This report which has been recently completed, was headed by Dr. Robert Cameron, Ph.D.
Some of the findings in this report indicate that, Gold bearing alluviums on the property vary between 100' to 400' in thickness. Calculating for 100' thickness, Geological Support Services has given a reserve estimate of at least 423,338,666 TONS. Sampling of the property has indicated an average ore grade of .035 oz/ton, with higher numbers in selected hot spots. The gold in this deposit is "free" or not entrained in rock. Gravity separation should recover at least 85% of the heavy values.
This report stated that, if the Picacho gold Property were mined to a depth of 100' and using an 85% recovery rate, there is potentially 12,594,325 ounces of GOLD with a value of $7,556,595,200 when pricing gold at $600 per ounce.
Mr. Robert Dultz, Chairman and CEO of USCorp comments, "The findings of the Geological Support Services report that include these indications are both very gratifying and a strong endorsement for USCorp to grow and expand. We expect to move forward on the Picacho Gold Property in an expedient manner. USCorp is very confident that the Picacho gold Property has significant value and should be developed fully."
Forward-Looking Statements
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those discussed in "Risk Factors" in the company's Forms 10-KSB, Forms 10-QSB, 8-K and other filings with the U.S. Securities and Exchange Commission. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
ON BEHALF OF THE BOARD OF DIRECTORS
Robert Dultz, Chairman and CEO
SOURCE: USCorp
USCS ... GOLD!! .... up nearly 100% today
Where do you get that view of L2? Thanks!!
SBTG ... up over 100% today. Something's going on, take a look at the volume.
SBTG Up 100% on more than double previous largest 52-week volume.
ATWT ... 1000% projected revenue increase, huge volume beginning
THPW NEWSWEEK article link ...
http://www.msnbc.msn.com/id/15359295/site/newsweek/
THPW ... That is big news ... NEWSWEEK article
PGPM 308% growth in revenue ...
Pilgrim Petroleum Corporation Announces Financial Achievements as for Sept. 2006
Business Wire - October 23, 2006 10:30
IRVING, Texas, Oct 23, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation (Pink Sheets:PGPM) is pleased to announce today it has achieved an average growth rate in revenues of 308% as for its third quarter ending September 2006. Operating Profit Margin accounted for 59.2%, which reflects the effective control of costs and the increasing trend of sales, despite volatile prices of energy. Additionally, Pilgrim Petroleum showed strong ROE of 23.16% and ROA of 20%, which show the company's commitment to extract greater profits from every dollar of assets the company acquires.
Since the beginning of the year, Pilgrim has grown aggressively, increasing 415% its asset portfolio. Pilgrim Petroleum has leveraged its strengths and opportunities to optimize operational and financial results.
Pilgrim Petroleum Corporation CEO Rafael Pinedo said: "Current Financial Results not only contribute to measure and gauge operational performance, but also reveal which areas the company needs to concentrate efforts to improve profit levels and grow to stay competitive within the industry."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interests primary on marginal fields. Once acquired, the company intends to develop each property to maximize the income from each by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effects of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
SOURCE: Pilgrim Petroleum Corporation
IBCX On the move with financials just out
OPLM .03 Up over 50% today, 52-week high.
SFNN coming back on yesterday's news.
Right, been looking at so many pinks I forgot this one's non-pink.
One more general question. Do insiders have to file to buy shares in pinkies? Thanks again.
Any info on the share structure? Tia.
SSSU Share Reduction ...
Business Wire - October 18, 2006 13:08
SSSU Confirms TD Ameritrade Refusing all Buy Orders of its Stock in the Open Market
ATLANTA, Oct 18, 2006 (BUSINESS WIRE) -- Silver Screen Studios, Inc. (OTCBB: SSSU) www.silverscreenstudiogroup.com, http://finance.yahoo.com/q?s=SSSU.OB, Traders Nation, www.tradersnation.com/sssu.shtml, Global 1 Realty Corporation, www.1global1realty.com, forms venture capital private equity investment funds for acquisitions of companies, financing of investments in other entities, and files to do business as Silver Screen Holdings to reflect our new business model.
Authorized Share Reduction:
As previously mentioned we are reducing the authorized share total from 2.0 billion to 1.0 billion shares effective by close of business on October 20, 2006. The reason for this reduction is to eliminate any surplus or excess shares being created by failure to delivery positions. See www.businessjive.com/nss/darkside for a comprehensive review of short selling and failure to deliver. The Reg. E Funds will enable us to acquire companies without the dilution of SSSU's shares.
TD Ameritrade Refuses all Buy Orders for SSSU Shares:
The company has confirmed through a TD Ameritrade representative that the online broker is refuse all buy orders and will only allow sell orders in the shares of SSSU. TD Ameritrade refused all explanations for the refusal to allow investors to purchase our shares, which we feel only confirms our speculation of a large share imbalance on the sell side.
We recommend that investors wanting to purchase our shares open an account with Etrade, Mytrack, Schwab Trading or Terra Nova Trading to purchase the shares.
Shareholders Protection Plan:
The company is taking all steps to protect the investment of the shareholders, including completion of a share exchange plan and confirmation of the actual shareholders registry and actual shareholders position as confirmed by the transfer agent and NOBO List.
About Global 1 Investment Corporation:
The family of funds we construct will have equity, fixed income, real estate securities, mortgages, affordable housing and commercial assets as investment opportunities for different classes of investors.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
SOURCE: Silver Screen Studios, Inc.
Silver Screen Studios, Inc.
Barry Thomas, 404-255-0400
sssu@mindspring.com
Copyright Business Wire 2006
NVMG on a tear.
SFNN ... Up 20%, Ask at .03 now. Read the news again. Market cap less than $4 mil, net worth over $40 mil. This should be huge, IMO.
News out ...
Press Release Source: Shearson Home Loans
Shearson Net Worth Tops $40 Million
Wednesday October 18, 9:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Oct 18, 2006 -- Shearson Financial Network (OTC BB:SFNN.OB - News) and its subsidiaries Shearson Home Loans, a fast growing mortgage banker/broker, and RPT, a property information company, announced today its operating net worth has grown in excess of $40 million according to interim company prepared financial statements released to its major warehouse lenders, RFC and IMPAC. The statements also show an increase in assets to $87 million for the eight months ending 8/30/06. Typically, the Company will be able to borrow from its warehouse lenders 10 times the tangible net worth amount on its statements. The statements were released as part of ongoing compliance requirements from the Company's warehouse banks. The increase in the net worth and asset base has been due to increased branch recruitment over the last six months and recent acquisitions.
ADVERTISEMENT
Chairman & CEO Michael A. Barron said, "Shearson continues to execute on its program of growth through acquisition and integration. We are pleased our financial condition is reaching these new highs during 2006."
About Shearson Home Loans
Shearson Home Loans is a fast-growing provider of residential mortgages. It employs over 500 people in the residential mortgage division. Shearson operates 54,000 sq. ft. of branch office space with 37 locations in 47 states. The company is a consolidator of independent mortgage brokerages and has grown rapidly during the last three years through acquisition and consolidation. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.shearsonhomeloans.com.
Contact:
Contacts:
Michael Barron
Shearson Home Loans
702-868-7900
--------------------------------------------------------------------------------
Source: Shearson Home Loans
SFNN up 30%, just getting started.
SFNN Up 30% ... market cap under $4 mil, net worth over $40 mil.
Press Release Source: Shearson Home Loans
Shearson Net Worth Tops $40 Million
Wednesday October 18, 9:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Oct 18, 2006 -- Shearson Financial Network (OTC BB:SFNN.OB - News) and its subsidiaries Shearson Home Loans, a fast growing mortgage banker/broker, and RPT, a property information company, announced today its operating net worth has grown in excess of $40 million according to interim company prepared financial statements released to its major warehouse lenders, RFC and IMPAC. The statements also show an increase in assets to $87 million for the eight months ending 8/30/06. Typically, the Company will be able to borrow from its warehouse lenders 10 times the tangible net worth amount on its statements. The statements were released as part of ongoing compliance requirements from the Company's warehouse banks. The increase in the net worth and asset base has been due to increased branch recruitment over the last six months and recent acquisitions.
ADVERTISEMENT
Chairman & CEO Michael A. Barron said, "Shearson continues to execute on its program of growth through acquisition and integration. We are pleased our financial condition is reaching these new highs during 2006."
About Shearson Home Loans
Shearson Home Loans is a fast-growing provider of residential mortgages. It employs over 500 people in the residential mortgage division. Shearson operates 54,000 sq. ft. of branch office space with 37 locations in 47 states. The company is a consolidator of independent mortgage brokerages and has grown rapidly during the last three years through acquisition and consolidation. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.shearsonhomeloans.com.
Contact:
Contacts:
Michael Barron
Shearson Home Loans
702-868-7900
--------------------------------------------------------------------------------
Source: Shearson Home Loans
NNSR ... Nice catch!!
DRGG .139 Nice volume, still in play from yesterday's news.
DRGG ... 2nd highest volume day this year. Setting up well for tomorrow.