Wednesday, November 17, 2010 3:48:32 PM
10Q IS OUT!!!
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001199835%2D10%2D000765%2Etxt&FilePath=%5C2010%5C11%5C17%5C&CoName=SECURED+FINANCIAL+NETWORK%2C+INC%2E&FormType=10%2DQ&RcvdDate=11%2F17%2F2010&pdf=
BIGGEST GOOD NEWS -->
Three Months Ended Nine Months Ended
September 30, September 30, September 30, September 30,
2010 2009 2010 2009
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
NET INCOME (LOSS) $ 346,427 $ (297,875 ) $ 175,271 $ (899,485 )
Net Income (Loss) per Common Share
Basic $ 0.01 $ (0.01 ) $ 0.00 $ (0.02 )
Diluted $ 0.01 $ (0.01 ) $ 0.00 $ (0.02 )
WE HAVE PROFIT!!!
OTHER INTERESTING INFO...
Especially the part about Blue Bamboo willing to accept shares to cover debt.
NOTE 7 - SUBSEQUENT EVENTS
We have evaluated for disclosure purposes subsequent events.
On October 5, 2010, the Company issued to Asher Enterprises 229,885 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued reduced the principal amount due under the note by $6,000. These shares were issued at a price of $.026 per share.
On October 13, 2010 the Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. with a principal amount of $50,000. Terms of the note are repayment of 150% of the principal amount from the date of the note up to 180 days after the date of the note. The note is due and payable on July 15, 2011. If the note remains unpaid at any time after the issue date, the holder has the option to convert the principal and accrued interest into shares of our Company stock at a conversion price equal to 61% of the “trading price” as described in the Note. These proceeds from this loan were used for both the purchase of inventory as well as Company operations.
On October 15, 2010, the Company issued to Asher Enterprises, Inc. 256,849 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued further reduced the principal amount due under the note by $7,500. These shares were issued at a price of $.029 per share.
On October 27, 2010, the Company issued to Asher Enterprises, Inc. 383,142 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued further reduced the principal amount due under the note by $10,000. These shares were issued at a price of $.026 per share.
On October 29, 2010, the Company issued to Blue Bamboo HK, Inc. 500,000 shares of its restricted common stock to satisfy in full the $25,000 balance due Blue Bamboo HK, Inc. relating to the Company’s purchase of its Payment Gateway in November of 2009. These shares were issued at a price of $.05 per share.
On November 3, 2010, the Company issued to Asher Enterprises, Inc. 295,019 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises, Inc. in March, 2010. The shares issued further reduced the principal amount due under the note by $6,500, satisfying the note in full, and also included $1,200 worth of interest due on the note. These shares were issued at a price of $.026
Go $SFNL!!!
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001199835%2D10%2D000765%2Etxt&FilePath=%5C2010%5C11%5C17%5C&CoName=SECURED+FINANCIAL+NETWORK%2C+INC%2E&FormType=10%2DQ&RcvdDate=11%2F17%2F2010&pdf=
BIGGEST GOOD NEWS -->
Three Months Ended Nine Months Ended
September 30, September 30, September 30, September 30,
2010 2009 2010 2009
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
NET INCOME (LOSS) $ 346,427 $ (297,875 ) $ 175,271 $ (899,485 )
Net Income (Loss) per Common Share
Basic $ 0.01 $ (0.01 ) $ 0.00 $ (0.02 )
Diluted $ 0.01 $ (0.01 ) $ 0.00 $ (0.02 )
WE HAVE PROFIT!!!
OTHER INTERESTING INFO...
Especially the part about Blue Bamboo willing to accept shares to cover debt.
NOTE 7 - SUBSEQUENT EVENTS
We have evaluated for disclosure purposes subsequent events.
On October 5, 2010, the Company issued to Asher Enterprises 229,885 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued reduced the principal amount due under the note by $6,000. These shares were issued at a price of $.026 per share.
On October 13, 2010 the Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. with a principal amount of $50,000. Terms of the note are repayment of 150% of the principal amount from the date of the note up to 180 days after the date of the note. The note is due and payable on July 15, 2011. If the note remains unpaid at any time after the issue date, the holder has the option to convert the principal and accrued interest into shares of our Company stock at a conversion price equal to 61% of the “trading price” as described in the Note. These proceeds from this loan were used for both the purchase of inventory as well as Company operations.
On October 15, 2010, the Company issued to Asher Enterprises, Inc. 256,849 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued further reduced the principal amount due under the note by $7,500. These shares were issued at a price of $.029 per share.
On October 27, 2010, the Company issued to Asher Enterprises, Inc. 383,142 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises in March, 2010. The shares issued further reduced the principal amount due under the note by $10,000. These shares were issued at a price of $.026 per share.
On October 29, 2010, the Company issued to Blue Bamboo HK, Inc. 500,000 shares of its restricted common stock to satisfy in full the $25,000 balance due Blue Bamboo HK, Inc. relating to the Company’s purchase of its Payment Gateway in November of 2009. These shares were issued at a price of $.05 per share.
On November 3, 2010, the Company issued to Asher Enterprises, Inc. 295,019 shares of its free trading common stock in response to a conversion notice. The conversion notice was recognized as per the terms of the $30,000 convertible note that the Company entered into with Asher Enterprises, Inc. in March, 2010. The shares issued further reduced the principal amount due under the note by $6,500, satisfying the note in full, and also included $1,200 worth of interest due on the note. These shares were issued at a price of $.026
Go $SFNL!!!
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