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CSUA - Updates on Shearson Financial Network, Inc

marketgainer.com: Updates on Shearson Financial Network, Inc
By M2
Last Update: 6/6/2006 11:44:44 AM
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Jun 06, 2006 (M2 PRESSWIRE via COMTEX) -- Market Gainer is quickly emerging as the one stop shop for international small-cap investors looking to stay a step ahead of the markets. Today's activity on the Nasdaq exchange has brought Shearson Financial Network, Inc (CSUA) to the attention of our research team. Our goal is to create a community of international investors who consistently and effectively capitalize on the enormous gains the small-cap Canadian and American exchanges offer.

Shares increase 22% reaching a high of $.039on the bulletin boards Tuesday. Momentum comes as Shearson Financial Network, Inc. a consolidator in the highly fragmented mortgage brokerage marketplace, announced today that it reached an agreement to acquire Real Property Technologies Corp. (RPT). Under the agreement, Shearson will issue to RPT's shareholders shares of Series A-1 Convertible Preferred stock of Shearson valued at forty million dollars.

Real Property Technologies Corp. is a leading real estate information company with headquarters in New York. RPT reported revenues of approximately $24 million for fiscal year 2005 with pre-tax profits of nearly four million dollars ($4,000,000) and has in excess of 200 employees. As part of the acquisition, certain key members of RPT's management will enter into employment agreements providing for a base compensation, plus bonuses, based on future performance of the combined business. We plan to integrate RPT into Shearson Financial Network and operate RPT as a separate data network. RPT provides a steady revenue stream and profitability which the company looks to mitigate the effects of interest rate fluctuations in the mortgage lending market. The database has numerous marketing advantages for our mortgage operations.

''The addition of RPT into the Shearson family of companies gives us a much stronger management team and greater reach into the national market,'' states Michael Barron, Shearson's CEO. ''This acquisition, along with others we have to come, we believe clearly shows a new and aggressive position the company is moving toward sustaining profitability.''

About Shearson Financial Network, Inc.

Shearson Financial Network, Inc. (http://www.shearsonhomeloans.com) is a financial services business focused on the acquisition of companies that originate mortgages loans or provide other financial services.

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