Surety Capital Corp. Announces 2013 Third Quarter Earnings and Stock Split
November 19 2013 - 8:48AM
Marketwired
Surety Capital Corp. Announces 2013 Third Quarter Earnings and
Stock Split
FORT WORTH, TX--(Marketwired - Nov 19, 2013) - Surety Capital
Corp. (OTC Pink: SRYP) announces its third quarter ended September
30, 2013 financial results. Surety's Chairman of the Board and CEO
Ralph Mendoza stated, "Surety's net income for the quarter was
$6,430 a 41% decrease over the same quarter ended September 30,
2012. Surety's gross volume for the nine months is slightly ahead
of 2012." Mendoza further stated, "The reason for the decrease in
net income is due to hiring salesmen who have yet to reach their
potential. We are also pursuing the cemetery and non-Hispanic
funeral homes. This is our investment in growing the company and we
should realize results within six months. This is the eleventh
quarter in a row that Surety has had a net income from its ordinary
business operations."
Surety finalized the acquisition of Herrera Financial Company's
customer list, web-site, systems and name as of December 31, 2010.
Herrera Financial is a leading funeral insurance assignment company
operating throughout the United States. Veronica Herrera, the Fort
Worth 2012 Hispanic Entrepreneur of the year, established Herrera
Financial in 2007 to provide insurance assignment financing
primarily for Hispanic funeral homes.
CEO, Chairman Mendoza stated, "The Board of Directors at its
meeting voted subject to shareholders' approval that Surety change
domiciles to the State of Texas from Delaware and split its stock
100 to 1." There will be a shareholders' meeting but the Board of
Directors directly and/or indirectly control more than 50% of the
shareholders' votes. Surety Capital Corporation only has 16,520,973
shares outstanding out of an authorized 20,000,000 shares. After
the split there will be 1,652,097,300 shares outstanding and
2,000,000,000 shares authorized.
For more details concerning our financial statements, reports
and the "Financing Friends Reward Program," please contact either
Ralph Mendoza or Dick Abrams at 817.850.9800 or dick@sryp.net.
Market
Statement: Some limited information about Surety is
contained on the OTC Markets OTCPink website; however the Company
does not file reports with the Securities and Exchange Commission
or otherwise make current financial or other information publicly
available. With a lack of current public information available,
anyone considering purchasing or selling the Company shares should
carefully consider the risks involved with the lack of having such
information.
Forward-Looking
Statement This release contains forward-looking statements
that reflect Surety's plans and expectations. In this press release
and related comments by Company management, words like "hope,"
"profit," "leading," "opportunity," "expect," "anticipate,"
"estimate," "forecast," "objective," "plan," "goal" and similar
expressions are used to identify forward-looking statements,
representing management's current judgment and expectations about
possible future events. Management believes these forward-looking
statements and the judgments upon which they are based to be
reasonable, but they are not guarantees of future performance and
involve numerous known and unknown risks, uncertainties and other
factors that may cause the Company's actual results, performance,
achievements or financial position to be materially different from
any future results, performance, achievements or financial position
expressed or implied by these forward-looking statements.
Media Contact: Ralph Mendoza Chairman Email: Dick@sryp.net Tel.
(817) 850-9800