Shearson Financial Networks Inc. Message Board

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Non-Tech : Shearson Financial Networks Inc.

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To: TheAccountant. who wrote (101)	7/16/2007 5:02:40 PM
From: otherbrotherdaryl	Read Replies (1) of 314

Oh, brother....... You need look again....... Over $26,000,000 in outstanding liabilities, and that was January 1st. They have gone deeper in debt since then. Convertible debt is increasing on a monthly basis, not to mention warrants, and put options. They floor plan their portfolio, which means they own nothing but paper and that is intended to be sold every 15 days or less. Heck. They only had $9000 cash January 1. They amotarize acquired debt. Don't forget to throw that on there too. It must be a bankers escape chute. Look how the convertibles work. 50% discounts with a 4.99% (standard) maximum on a three year minimal term. It is a shorters wet dream. SFNN has been made to short. That is the "truth". It is visible every day. You need pick another alias because you know nothing about accounting or you misrepresent the "truth". I say both. If anyone took your advice to buy at .0035, they would be down 43% right now and it looks like more share price depreciation is coming. SFNN sucks.

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