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I hear there is a nice pr coming out before financials. Maybe two weeks or less.
Let's have a nice green day today.
Hey guys. I called corporate yesterday evening and couldn't get in touch with a person who could accurately speak on behalf of the company for investor realated questions. I don't want to put out misinformation. I will try again this evening.
This is nasdaq otc:bb. I think they have to file but I'm not sure about buying shares. That was just my guess because for half the o/s to be gone for a stock that has so little attention I just figured insiders have a lot of these shares. They do have 500 employees. If the average employee held 3000 dollars in stock that would be half the o/s. Not too far fetched in my opinion. Some of this is guess work. I will post facts later as I receive them. Again, it is only speculation on who has majority of shares and imo insiders/employees hold majority considering general publics lack of interest.
Looks like 99mil o/s and 40mil float. That's not bad considering 87mil assets. This would be considered way undervalued I would imagine. Shares must be being held aggresively by insiders. I will try and get more accurate share count later today.
I will be speaking with the CFO or equivalent around 3pm Pacific time. I have many question for him/her that I will post here. Got to do my dd right. I will also raise questions pertaining to current pps on a stock which use to be 4 dollars. If they suspect a considerable short position I will ask if the have considered NOBO list etc..
Also I will give them examples of how to combat short positions and I'm sure this has already been discussed at some level. Look at sssu, cbay, cshd, rshn etc.. "No they haven't all shown significant results yet but it has had some positive effects with pps so far." Anywho, I will get as much info as possible and post here this evening. I think this year will be remembered as the squeeze on shorts and may forever change the market. Well let's hope so anyway.
87 Million in assets. o/s less than 100mil/+real company. pps .03. Any opinions are appreciated. I started a thread on this also. Please post comments there.
Shearson Financial Network (OTCBB: SFNN) 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.
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."
Recent investing newsMedicines for Malaria Venture, Genzyme Corporation and the Broad Institute Expand Collaboration to Discover New Drugs for MalariaQuicksilver Resources Inc. and Marshall R. Young Oil Co. Announce Approval by Arlington's City Council for Mineral Lease Under Lake ArlingtonSIGA Technologies Drug Blocks SmallpoxElbit Vision Systems Ltd. Receives $2 Million in Orders from Leading Aeronautic Manufacturers for the Aeronautic IndustrySerono Reprimanded Over Stock Sale
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.
Contacts:
Michael Barron
Shearson Home Loans
702-868-7900
Copyright 2006 Market Wire
Back to Recent News
NEWS* Universal Express Inc. USXP, announced today that its subsidiary Luggage Express will be showcased on HGTV Cable show, "I Want That" as a new innovation with others that HGTV advertises as being "so new that it almost hasn't happened yet".
Recent investing newsMedicines for Malaria Venture, Genzyme Corporation and the Broad Institute Expand Collaboration to Discover New Drugs for MalariaQuicksilver Resources Inc. and Marshall R. Young Oil Co. Announce Approval by Arlington's City Council for Mineral Lease Under Lake ArlingtonSIGA Technologies Drug Blocks SmallpoxElbit Vision Systems Ltd. Receives $2 Million in Orders from Leading Aeronautic Manufacturers for the Aeronautic IndustrySerono Reprimanded Over Stock Sale
This episode of "I Want That" will be aired on October 20th at 11:30 a.m. and will re-air on Sunday October 22nd at 2:00 p.m. HGTV is well known, worldwide.
Home and Garden, HGTV America's leader in home and lifestyle programming, is distributed to more than 89 million U.S. households and is one of cable's top-rated networks. HGTV.com is the nation's leading online home and garden destination that attracts an average of 5.2 million unique visitors per month. HGTV owns 33 percent of HGTV Canada and provides much of the Canadian network's daily programming. The network's branded programming also can be seen in 47 other countries and its selected programming is available to service men and women on board Navy ships and through American Forces Radio & Television Service (AFRTS) which services more than 1,000 outlets in over 175 countries.
Headquartered in Knoxville, Tennessee, with offices in Atlanta, Chicago, Dallas, Detroit, Los Angeles, Nashville and New York, HGTV is wholly owned by The E.W. Scripps Company SSP, which also operates Food Network, DIY Network, FINE LIVING TV NETWORK and Great American Country (GAC)
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission
Contact Information: Universal Express, Inc. Mark Falk, 561-367-6177 publicrelations@usxp.com
© 2006 BusinessWire
Back to News Home
Shearson Financial Network (OTCBB: SFNN) 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.
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."
Recent investing newsMedicines for Malaria Venture, Genzyme Corporation and the Broad Institute Expand Collaboration to Discover New Drugs for MalariaQuicksilver Resources Inc. and Marshall R. Young Oil Co. Announce Approval by Arlington's City Council for Mineral Lease Under Lake ArlingtonSIGA Technologies Drug Blocks SmallpoxElbit Vision Systems Ltd. Receives $2 Million in Orders from Leading Aeronautic Manufacturers for the Aeronautic IndustrySerono Reprimanded Over Stock Sale
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.
Contacts:
Michael Barron
Shearson Home Loans
702-868-7900
Copyright 2006 Market Wire
Back to Recent News
This is some older news and there are plenty of sec filings to look at if anyone is interested.
aug news
...............
LAS VEGAS, NV--(MARKET WIRE)--Aug 1, 2006 -- Shearson Home Loans (OTC BB:SFNN.OB - News) (SFNN), a fast-growing mortgage provider, today announced that it has executed an agreement to acquire for a combination of stock and cash Irvine, CA-based Allstate Funding, a mortgage banking enterprise licensed as a mortgage bank in 33 states, and writing approximately $440 million in mortgages in 2005. Closing of the acquisition, valued at approximately $5 million, is a milestone for both organizations whose combined mortgage loan production tops $1 billion annually.
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Chairman & CEO Michael A. Barron said, "We have been working for some months on this business combination, and believe strongly that the synergies create a powerful marketing and funding force in the mortgage industry. The combined companies will now have loan volume in excess of $1 billion annually and a strong regional banking presence in the West. We have over 450 employees, and are able to expand our banking products into many more geographic markets. We anticipate that together we will be generating significant revenue and profits by the end of 2006."
Greg Shanberg, President of Allstate, stated, "Together we will greatly expand our mortgage banking profit center by adding additional warehouse banking capacity -- which in turn will give us more than enough room to double our revenue over the next six months. We expect to be banking $80 million per month later this year, which should yield between 1% - 2% of that volume in additional revenue per month."
For 2005 SFNN had closed-loan volume of $807 million for all combined companies; Allstate had closed-loan volume of $440 million, which generated revenue of $24 million. The new Shearson Home Loans would account on a pro forma basis for over $30 million in revenue for 2006.
Allstate is now eighty-five percent owned by Shearson Home Loans, and will continue to do business under its current name and from its current locations, although both companies will examine redundancies to maximize the effects of consolidating the two businesses. Barron will remain Chairman and CEO of Shearson Home Loans; Shanberg will continue as Executive Vice President of Allstate.
About Allstate Funding
Allstate Funding is a wholesale and retail mortgage banking company primarily engaged in the business of originating and selling loans secured by real property with one to four units. The Company offers a wide range of products and historically, targeted high quality, low risk borrowers. The Company recently expanded into the higher risk sub-prime market to assist in efforts to diversify lending practices. Income is generated from loan origination fees and from gains from sales of mortgage loans on the secondary mortgage market and to private investors. Allstate Funding closed $440 million in loans in 2005.
About Shearson Home Loans
Shearson Home Loans (OTC BB:SFNN.OB - News) is a fast-growing provider of residential mortgages. It employs over 450 people who are residential mortgage real estate brokerage professionals who have closed loan volume of over $807 million for the year ended December 31, 2005. Shearson operates 54,000 sq. ft. of branch office space nationally. Emerging as a national leader in mortgage banking/ brokerage and ancillary services, the company plans to have 10 regional hubs across the United States by the end of 2008. The company has been a successful consolidator of independent mortgage brokerages having made five acquisitions in the industry over the last two years. The company plans to continue this strategy and is actively looking for acquisition candidates.
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:
CONTACT:
Shearson Home Loans
Andy Austin
619-334-5644
--------------------------------------------------------------------------------
Source: Shearson Home Loans
American Express it appears was the action player involved. This might be good for GESM.
Absolutely; read this:
American Express Launches the Restaurant Partnership Program with Savings, Access and Information
Toolkit Designed Specifically for Restaurateurs to Attract Premium Customers, Manage Their Business and Save Time and Money
American Express today announced a new Restaurant Partnership Program designed to provide restaurateurs with a one-stop location for many of the savings and benefits available to merchants who accept the American Express(R) Card. The kit debuted at the National Restaurant Association Show in Chicago and will also be available to individual operators through their American Express relationship manager.
Building on the success of American Express' Business Savings Program which extends volume discounts to all merchants who accept the American Express Card, the Restaurant Partnership Program includes specialized benefits for the restaurant industry. In addition to the savings offered to all merchants such as overnight shipping, office supplies and marketing support, restaurant operators are able to take advantage of special savings offered by:
-- Elliot Leadership Institute - an organization dedicated to the development and advancement of executives in foodservice and hospitality;
-- GuestMetrics - a customer insight and solutions technology company dedicated to improving business performance in the restaurant industry;
-- Healthy Dining Finder - a resource developed in collaboration with the National Restaurant Association for health-conscious diners seeking healthy dining options.
"We wanted to find a way to provide our restaurant merchants with an easy and accessible resource about some of the benefits available to them," said Curtis Wilson, vice president and general manager, restaurant industries, American Express Establishment Services. "We understand that operators have very specific needs and we want to be sure that we do our best to help them manage and grow their business."
The Restaurant Partnership Program kit also includes information various American Express merchant services. These services include direct connectivity which enables merchants to avoid costly transaction fees charged by third-party processors; industry newsletters such as Briefing and Market Brief; complimentary point-of-purchase materials and check presenters as well as information to help merchants manage their American Express accounts online.
American Express invests in a variety of initiatives that support merchants such as training and education seminars, business-building opportunities and cause-related events, among others. The Company sponsors various restaurant industry events including:
-- American Express Restaurant Trade Program at the Food & Wine Magazine Classic in Aspen and the South Beach Wine and Food Festival
-- Women's Foodservice Forum and Multi-Cultural Foodservice and Hospitality Alliance
-- The International Society of Restaurant Association Executives
-- Share Our Strength's Taste of the Nation
-- James Beard Foundation and Awards
-- Distinguished Restaurants of North America and Council of Independent Restaurants of America
-- The National Restaurant Association's Restaurant Neighbor Award
-- ProStart, ManageFirst and Careers Through Culinary Arts Program restaurant workforce development programs
About American Express
Establishment Services is the merchant network of American Express, which acquires and maintains relationships with millions of merchants around the globe, which welcome American Express-branded Cards. American Express Company is a leading global payments, network, travel and banking company founded in 1850.
yep saw that. so is their an american express restaurant or are they saying they can market to any restaurant that uses american express. I looked at past news and this seems like it is big for this company.
This has come back to life and might be doing a repeat. Jumped on board enjoying the ride.