Shearson Financial Network (fka SHSNQ)

[mjc1]

Spoke to JCB for about sixty seconds today...

He always seems to be "on his way out to speak to the lawyers" whenever I manage to reach him. He also seems to be either nervous or impatient, or maybe a combination of the two. Just a personal observation, FWIW.

Anyway, knowing I didn't have much time, the only question I asked was about the "4.9% agreement". He did confirm that under the agreement, the SCN holders would only convert up to 4.9% of the outstanding shares at the time of conversion, which I think would be somewhere in the 15-17 million share range (based on 290-340 million shares out). I was pretty happy about that until he then added, "but they can change that whenever they want to". Oh. Okay.

Sounds more like a handshake agreement to me. Guess we'll see how precarious or solid it is. He told me to call him tomorrow at another time that HE specified, so we'll see if it happens or not.