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Non-Tech : Shearson Financial Networks Inc.
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From: otherbrotherdaryl8/26/2007 10:23:59 AM
   of 314
 
If this is true, then..............

common shareholder equity is no longer 13%, but rather much closer to 1%.

Posted by: Defuser
In reply to: donniedko67 who wrote msg# 14753
Date:8/26/2007 9:22:59 AM
Post #of 14755

I thought about the split and I am wondering if it has anything to do with hostile take over protection? In the PR, the only shares that were reversed were the "common" shares. Now there are many more preferred(more voting rights) shares. It just sucks for us common folk!! I wish I had the same amount of shares too, with the 200x higher price.

The REALITY is, Shearson did the reverse split so they can continue paying AJW and two insiders convertible debt at the rate of around 7.8% of remaining shareholder equity each month. It was about 9.5% until La Jolla was paid off. (that means another reverse split will come in 12 to 16 months)

Why would SFNN go private when they have a money tree and an endless suply of fools buying the stock? Hell. Just let AJW and crew screw everyone for a few hundred bucks and live happily ever after.

Continuing to hold lends you enjoy punishment and humiliation. Shoulda listened to cottonmather......... you know....... the guy you verbally abused and banned from the board. He even had confirmed evidence but the "pros" knew better. (LOLOLOLOLOL) Enjoy!

SFNN sucks. The stock is going to .03, if not lower, by January 1.
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