SFNN sucks. Let's see why.......
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Liability deficit increased over $500,000 for the quarter.
Selling, salary, and administratibe expenses increased 20% or more.
Weighted average number of common shares outstanding increased more than 400%.
Negative cash flow over $600,000 for the quarter.
$1.7 million paid in debt interest, convertibles, etc for the quarter.
Net cash (used for) provided by financing activities ($1,835,024).
Cash and cash equivalents, beginning of period $9,032.
Cash and cash equivalents, end of period $9921.
Common Stock Value
665,748,589 shares $665,749
Preferred Stock Value
10,500 shares $4,250,000
On January 29, 2007, the Company entered into a Promissory Note Conversion Agreement in the amount of $141,780 with La Jolla Cove Investors, Inc.
On June 30, 2006, we entered into a Securities Purchase Agreement with AJW Partners, LLC ("Partners"), AJW Offshore, Ltd. ("Offshore"), AJW Qualified Partners, LLC ("Qualified") and New Millennium Capital Partners, II, LLC ("Millennium") for the sale of (i) $1,500,000 in secured convertible notes and (ii) warrants to purchase 30,000,000 shares of the Company's common stock........ The secured convertible notes mature three years from the date of issuance, and are convertible into our common stock, at the Purchasers' option, at a 50% discount.......
If you took this away from assets? Mortgage loans held for sale $18,118,096 (LOLOLOLOLOLOLOL) This money is not theirs. Very funny.
Net revenues from origination and/or sale of loans increased 63.1% or $1,085,236 to $2,084,036 for the six months ended June 30, 2007 from $1,718,000 for the six months ended June 30, 2006. The increase in revenues can be attributed to the July 29, 2006 acquisition of 85% of Allstate Home Loans, Inc. If the net was 63% and equity decreased 50% plus 10% a month thereafter for three years, what is the end result? Interest expense increased 80,054 or 90% for the six months ended June 30, 2007 as compared to the six months ended June 30, 2006. The increase is related to the increase in long-term convertible debt....
We had a net loss of $610,571 for the six months ended June 30, 2007 as compared to net income of $2,169,201 for the six months ended June 30, 2006.
It goes on and on.
Bend over, baby!!!!!!!!!!!!!
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