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Next round to take us to $0.06...
Get Ready.
If you missed the 1st two rounds, Don't miss the 3rd...
Almost no float here...I've been in this stock for ages!!
IMO
Short Squeeze in process here.And
Its not done yet....
you mean 0.05....FOR TODAY!!
Posted by: indepth05
Date: Friday, May 08, 2009 9:57:23 AM
In reply to: None Post # of 16650
will hit 2 cents in no time
Told you to hit the ask, and its not late yet IMO
This is just the start..
0.04 EOD...eom
I'm following this stock from 2 years....Almost no float.
This is just the start...
will hit 2 cents in no time
LOL Why the hell to cancell OS of 4,689,988 shares.???
It doesn't even worth it!!!
From 8-K, Dec 2008:
The DIP Notes are convertible into our common stock, at the DIP Funders' option, at a conversion price, equal to 50% of the average of the three lowest intraday trading prices for our common stock during the 20 trading days before, but not including, the conversion date (the "Variable Conversion Price"). As of December 11, 2008, the average of the three lowest intraday trading prices for our common stock during the preceding 20 trading days as reported on the Pinksheets was $.0004 and, therefore, the Variable Conversion Price for the DIP Notes was $.0002. Based on this conversion price, the DIP Notes in the amount of $500,000, excluding interest, are convertible into 2,500,000,000 shares of our common stock.
The Company's Articles of Incorporation currently allow for issuance of a maximum of 500,000,000 shares of common stock. Currently, the Company has approximately 4,689,988 shares outstanding, leaving an unissued balance of authorized shares that is not sufficient to service the maximum requirements of the DIP Notes. In the event we are unable to obtain an increase in our authorized common stock, we will be required to repay the DIP Notes and we will be subject to penalties associated with such failure to deliver shares of common stock upon conversion of the DIP Notes as well as prepayment penalties.
The DIP Funders have contractually agreed to restrict their ability to convert the DIP Notes and receive shares of our common stock such that the number of shares of the Company's common stock held by the DIP Funders after such conversion does not exceed 4.9% of the Company's then issued and outstanding shares of common stock.
READ & Hit the ask....This is a 10x stock IMO!!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34174305
This is gonna be huge!!
indepth, what will happen to the common shares?
Shares To Da Moon!!!..
Mine are for sale @ $0.10
WTF????...LOL!!..Emerges From Bankruptcy??
Shearson Financial Network Inc. Emerges From Bankruptcy
On Thursday May 7, 2009, 2:36 pm EDT
SAN FRANCISCO, May 7 /PRNewswire-FirstCall/ -- Shearson Financial Network Inc., a financial services holding company that conducted diversified mortgage banking and brokering operations (Pink Sheets: SHSNQ - News), announced today that it successfully emerged from bankruptcy on May 7, 2009. On February 25, 2009 the United States Bankruptcy Court "Confirmed" Shearson's First Amended Joint Plan of Reorganization.
Mr. Harry R. Kraatz, the newly appointed Chairman and Chief Executive Officer of Shearson, stated that, "The Plan was overwhelmingly supported by the Company's creditors and it represented a comprehensive and fair proposal for the treatment of outstanding claims. No objection to confirmation of the Plan was made."
Greg Garman, bankruptcy counsel with the law firm of Gordon Silver said, "In these challenging times it was encouraging to work with Shearson and its creditors to get the company restructured and out of bankruptcy within a matter of months."
Shearson Financial Network Inc. is a financial services holding company that conducted diversified mortgage banking and brokering operations and is a provider of both traditional and online mortgage services to a diversified customer base consisting of mortgage lenders, mortgage brokers, real estate agents and consumers.
Safe Harbor
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. They reflect, when made, the Companies' current views with respect to current events and financial performance, and are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Companies' operations and business environment which may cause the actual results of the Companies to be materially different from any future results, express or implied, by such forward-looking statements. The Companies intend that such forward-looking statements be subject to the Safe Harbor created by Section 27(a) of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The words and phrases "expect", "estimate", "anticipate" and similar expressions identify forward-looking statements. Certain factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Companies to continue as a going concern; court approval of the Companies' first day papers and other motions prosecuted by them from time to time; the ability of the Companies to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Companies to propose and confirm one or more plans of reorganization, for the appointment of chapter 11 trustees or to convert the cases to chapter 7 cases; the ability of the Companies to obtain trade credit, and shipments and terms with vendors and service providers for current orders; the Companies' ability to maintain contracts that are critical to their operations; potential adverse developments with respect to the Companies' liquidity or results of operations; the ability to fund and execute its business plan; the ability to attract, retain and compensate key executives and associates; and the ability of the Companies to attract and retain customers. Additional discussion of factors that could cause the actual results to differ materially from management's projection, forecasts, estimates and expectations is contained in the Companies' Form 10-K and other SEC filings. The Companies disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jim Newman, 415-388-1500
As of Dec 12, 2008, OS was 4,689,988 shares.
So now we have 300Mil shares AS,
I think to conver the DIP notes.....
From 8-K, Dec 2008:
The DIP Notes are convertible into our common stock, at the DIP Funders' option, at a conversion price, equal to 50% of the average of the three lowest intraday trading prices for our common stock during the 20 trading days before, but not including, the conversion date (the "Variable Conversion Price"). As of December 11, 2008, the average of the three lowest intraday trading prices for our common stock during the preceding 20 trading days as reported on the Pinksheets was $.0004 and, therefore, the Variable Conversion Price for the DIP Notes was $.0002. Based on this conversion price, the DIP Notes in the amount of $500,000, excluding interest, are convertible into 2,500,000,000 shares of our common stock.
The Company's Articles of Incorporation currently allow for issuance of a maximum of 500,000,000 shares of common stock. Currently, the Company has approximately 4,689,988 shares outstanding, leaving an unissued balance of authorized shares that is not sufficient to service the maximum requirements of the DIP Notes. In the event we are unable to obtain an increase in our authorized common stock, we will be required to repay the DIP Notes and we will be subject to penalties associated with such failure to deliver shares of common stock upon conversion of the DIP Notes as well as prepayment penalties.
The DIP Funders have contractually agreed to restrict their ability to convert the DIP Notes and receive shares of our common stock such that the number of shares of the Company's common stock held by the DIP Funders after such conversion does not exceed 4.9% of the Company's then issued and outstanding shares of common stock.
I just love it when you try to create a conversation to re-post old news you'd love to see...lol
Why don't you try instead to explain to us why the stock is moving for the past two weeks with volume??
Tape painting as you used to say?...No, volume is there..Try again!
What is the reason, Mr.Worm?
To anyone wondering why the hell this one is up 900%....
International Trading CCT LLC
Company CAGE Code 4V2K1
FY 2006 $0.00
FY 2007 $0.00
FY 2008 $161,633,919.49
Number of Competitors: 106
Unique Number of NSNs Awarded: 70
Three Year Total of NSNs awarded to all Competitors: $19,436,708,621.53
To newbies around, International Trading CCT is Mr.Steve Sulja's company who is Sulja Bros Building Supplies (SLJB)'s Current CEO......A reverse merger and/or finacials could in fact be shown you at any second from here on...they now have financials for 06/07/08...a complete Sarbanes-Oxley compliant presentation that will turn penny word on its ear.
You don't know...maybe he just likes to moderate boards!
LSRAF down 29% on a 1K trade.
I agree.I think we'll go public, again!
mine..
you mean next month?
I'll hit 0.008,waiting a 0.007 trade first.
I guess we need Monk & friends to pay us another visit!
They gave me another 2K shares for $12..
Thank you...Thank you!!lol
If so, you might need to lay off the Molson Ice...lol
LOL!!!!!
bought @ 109 for grandchildren along with FMCN @ $6.30
So,If I sell 750 shares BIDU,I can buy around 50% of the company..
Oh The Humanity...
That guy???...lol
You are right!
They gave me 10K shares out of 100K order.
My problem is my offshore account,they charge me $24.5/each trade..lol...otherwise I'd follow them up.
One million shares volume would drive this up to $0.03 within no time.There is almost no float here.
I guess no more 0.006 shares available for sale because I didn't get all my order!
Where is everyone?
I'll hit 0.006, lets see.
L2 screen shot,please.
bidding @ 0.0045 eom
I'm back and I want few more tickets @0.0041,please.
I've enjoyed the lovely beaches in Bentota/Sri Lanka last week.
What a lovely country!
12-Dec-2008
Form 8-K for SHEARSON FINANCIAL NETWORK INC
--------------------------------------------------------------------------------
12-Dec-2008
Unregistered Sale of Equity Securities, Financial Statements and E
Item 3.02 Unregistered Sales of Equity Securities.
On December 5, 2008, Shearson Financial Network, Inc. (the "Company"), entered into and closed that certain Security Agreement (the "DIP Security Agreement") with AJW Partners, LLC, AJW Partners II, LLC, AJW Master Fund, Ltd., AJW Master Fund II, Ltd. and New Millennium Capital Partners, LLC (the "DIP Funders") as approved by the United States Bankruptcy Court for the District of Nevada (the "Order"). Pursuant to the Order and the DIP Security Agreement, the Funders have agreed to provide the Company with financing in the amount up to $500,000 and the Company agreed to issue Senior Secured Superpriority Debtor-In-Possession Callable Secured Convertible Notes (the "DIP Notes") in an aggregate amount up to $500,000. In order to induce the DIP Funders to purchase the DIP Notes, the Company has agreed to grant to the DIP Funders a first priority security interest in certain property of the Company to secure the prompt payment, performance and discharge in full of all of the Company's obligations under the DIP Notes. In accordance with the DIP Security Agreement, the Company received $175,000 on August 12, 2008, an additional $150,000 on October 17, 2008 and an additional $175,000 on December 5, 2008.
The DIP Notes mature on the earlier of November 15, 2008, the date that the reorganization plan becomes effective or the upon an event of default (the "Maturity Date") and interest associated with the DIP Notes is 8% per annum, which is payable upon maturity.
The Company may prepay the DIP Notes in the event that no event of default exists, there are a sufficient number of shares available for conversion of the DIP Notes and the market price is at or below $0.05 per share. The full principal amount of the DIP Notes is due upon default under the terms of the DIP Notes.
The DIP Notes are convertible into our common stock, at the DIP Funders' option, at a conversion price, equal to 50% of the average of the three lowest intraday trading prices for our common stock during the 20 trading days before, but not including, the conversion date (the "Variable Conversion Price"). As of December 11, 2008, the average of the three lowest intraday trading prices for our common stock during the preceding 20 trading days as reported on the Pinksheets was $.0004 and, therefore, the Variable Conversion Price for the DIP Notes was $.0002. Based on this conversion price, the DIP Notes in the amount of $500,000, excluding interest, are convertible into 2,500,000,000 shares of our common stock.
The Company's Articles of Incorporation currently allow for issuance of a maximum of 500,000,000 shares of common stock. Currently, the Company has approximately 4,689,988 shares outstanding, leaving an unissued balance of authorized shares that is not sufficient to service the maximum requirements of the DIP Notes. In the event we are unable to obtain an increase in our authorized common stock, we will be required to repay the DIP Notes and we will be subject to penalties associated with such failure to deliver shares of common stock upon conversion of the DIP Notes as well as prepayment penalties.
The DIP Funders have contractually agreed to restrict their ability to convert the DIP Notes and receive shares of our common stock such that the number of shares of the Company's common stock held by the DIP Funders after such conversion does not exceed 4.9% of the Company's then issued and outstanding shares of common stock.
--------------------------------------------------------------------------------
The Company claims an exemption from the registration requirements of the Act for the private placement of these securities pursuant to Section 4(2) of the Act and/or Regulation D promulgated thereunder since, among other things, the transaction did not involve a public offering, the DIP Funders is an accredited investor, the DIP Funders have access to information about the Company and its investment, the DIP Funders took the securities for investment and not resale, and the Company took appropriate measures to restrict the transfer of the securities.
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Shell Company transactions.
Not applicable.
(d) Exhibits.
Exhibit Number Exhibit Description
4.1 Security Agreement entered with AJW Partners, LLC, AJW Master
Fund, ltd. and New Millennium Capital Partners, LLC dated August
2008 (1)
4.2 Form of Superpriority Debtor-In-Possession Callable Secured
Convertible Notes (1)
99.1 Press Release (1)
(1) Incorpoarted by reference to the Form 8K Current Report filed with the Securities Exchange Commission on August 28, 2008
Welcome back!!
because of "nuts"!