Corporate Raider Journal for SSNA

[erickgragg]

NEWS ALERT: BILLIONAIRE INVESTOR ERICK GRAGG HAS STARTED UP A NEW SECURITY BROKERS - SOUTHERN SECURITIES OF N.A. TICKER SYMBOL <SSNA> WHICH HAS 50 MILLION SHARES OUTSTANDING @ $4.00/ SHARE

MR. GRAGG HAS STATED THAT SSNA WILL BE A MAJOR PLAYER IN THE BROKERS SERVICES.

HE HAS STATED THAT SSNA WILL HAVE A TRADING ARM FOR THE CORPORATION. IT IS UNCLEAR WHAT HE HAS IN STORE WITH THIS SMALL COMPANY.

MR. GRAGG HAS APPROXIMATELY $800 MILLION IN HIS PERSONAL ACCOUNT TO WHICH HE PLANS TO INVEST IN THE COMPANY AND SOME LONG TERM BONDS. HE SAYS INVESTING EVERY BIT OF HIS OWN CASH WILL BE A HIGH RISK VENTURE.

[erickgragg]

SSNA purchased PREV 20% @ $4.11 for $21 million <5mil shares out of 25 million shares>

SSNA has gained control of Preview Travel <Prev>

PREV has to decide whether or not to implent an Online Human Parts Auction site.

PREV has decided to do it.

Mr. Gragg has bought $700 million in long term bonds at 95.30 for a total of $668.45 million

Mr.Gragg says he will use the profits to better his firm.

Mr. Gragg's Quaterly taxes were $6.45 Million

SSNA earnings were in line with projections @ 0.08/share for quarter 3 of 2007

SSNA sees earning staying @ 0.08/share for quarter 4 of 2007

SSNA full yrs earnings were -0.19/share sees 1st qtr of 2008 projection to be 0.09/share

[erickgragg]

SSNA sells 20% stake in Prev for $10.73/share or net sale of $49.5 million (SSNA recognized gain of $28.91 million or 140.7%)
<has captial gains tax of $4 million after sale>

Mr. Gragg Year end tax payment is $14.02 million
Mr. Gragg Total income tax for 2007 was $25.10 million
Mr. Gragg had Taxable income of $57.04 million

SSNA has purchased 40% stake in Lycos <LCOS> for $2.45/share or $29.5 million

SSNA has reduced its Productivity Spending from 10% to 3% in hopes to bouyed Cash on Hand by $5 million

[erickgragg]

Year Quarter Qtr income/share Net Operating profit/loss <Millions> Pre-tax operating margin on sale Cash on Hand <Millions> Loans <Millions> Dividend per share Earning Projection/ share Full yrs earnings/prior yrs earnings 2007 1 -0.43/0.00 -21.35 19.8% 26 0.00 0.00 0.07 2007 2 0.07/0.00 3.66 19.8% 33 0.00 0.00 0.08 2007 3 0.08/0.00 4.05 17.0% 35 0.00 0.00 0.08 2007 4 0.08/0.00 4.03 18.4% 39 0.00 0.00 0.09 -0.19/0.00

[erickgragg]

2008 1 0.10/-0.05 5.19 21.5% 60 0.00 0.00 0.10
2008 2 0.10/0.00 5.08 20.3% 63 0.00 0.00 0.10
2008 3 0.10/-0.05 4.94 21.0% 64 0.00 0.00 0.06
2008 4 0.06/-0.05 3.23 13.6% 68 0.00 0.00 0.06 0.37/-0.19
2009 1 0.07/0.09 3.28 12.8% 70 0.00 0.00 0.06
2009 2 0.06/0.09 3.04 8.7% 71 0.00 0.00 0.04
2009 3 0.04/0.09 1.76 1.9% 71 0.00 0.00 -0.00
2009 4 -0.00/0.09 -0.20 -5.9% 69 0.00 0.00 -0.02 0.16/0.37
2010 1 -0.01/0.04 -0.68 -9.9% 70 0.00 0.00 0.03
2010 2 0.03/0.04 1.45 0.9% 74 0.00 0.00 0.03
2010 3 0.03/0.04 1.70 7.2% 77 0.00 0.00 0.08
2010 4 0.08/0.04 3.98 15.1% 79 0.00 0.00 0.08 0.13/0.16
2011 1 0.08/0.03 4.05 14.8% 81 0.00 0.00 0.07
2011 2 0.07/0.03 3.30 11.2% 81 0.00 0.00 0.08
2011 3 0.08/0.03 4.07 12.8% 83 0.00 0.00 0.09
2011 4 0.10/0.03 4.79 16.2% 87 0.00 0.00 0.14 0.32/0.13

SSNA has continued a slow growth plan for capital.

[Scott]

Sweet! keep it up.

[erickgragg]

2012 1 0.14/0.08 7.12 27.9% 94 0.00 0.00 0.14
2012 2 0.14/0.08 7.12 27.9% 97 0.00 0.00 0.14
2012 3 0.14/0.08 7.02 28.0% 100 0.00 0.00 0.11
2012 4 0.11/0.08 5.61 23.1% 103 0.00 0.00 0.11 0.54/0.32
2013 1 0.11/0.13 5.60 22.9% 105 0.00 0.00 0.11
2013 2 0.15/0.13 7.51 25.4% 109 0.00 0.00 0.21
2013 3 0.21/0.13 10.42 34.8% 110 0.00 0.00 0.21
2013 4 0.22/0.13 10.94 34.8% 114 0.00 0.00 0.22 0.69/0.54

Growth Expectations have increased our bottom line. We soon will double in size either by assets or acquitions.

[erickgragg]

Year Quarter Qtr income/share Net Operating profit/loss <Millions> Pre-tax operating margin on sale Cash on Hand <Millions> Loans <Millions> Dividend per share Earning Projection/ share Full yrs earnings/prior yrs earnings
2014 1 0.21/0.17 10.30 35.9% 119 0.00 0.00 0.21
2014 2 0.22/0.17 11.24 37.4% 117 0.00 0.00 0.22
2014 3 0.22/0.17 11.08 37.2% 110 0.00 0.00 0.22
2014 4 0.22/0.17 10.91 39.6% 118 0.00 0.00 0.20 0.87/0.69
2015 1 0.20/0.22 9.93 38.3% 129 0.00 0.00 0.19
2015 2 0.19/0.22 9.66 36.4% 130 0.00 0.00 0.18
2015 3 0.18/0.22 9.12 32.5% 132 0.00 0.00 0.11
2015 4 0.11/0.22 5.42 25.0% 126 48.00 0.00 0.13 0.68/0.87
2016 1 0.10/0.17 4.81 17.9% 118 41.00 0.00 0.19
2016 2 0.19/0.17 9.63 22.5% 118 35.00 0.00 0.27
2016 3 0.27/0.17 13.56 30.3% 161 30.00 0.00 0.30
2016 4 0.30/0.17 14.96 34.6% 165 25.00 0.00 0.33 0.86/0.68

We acquired 50 million in assets. Our new trading arm IOM will be run by Mr. Gragg

[erickgragg]

SSNA rejected a hostile bid for the company by LGSC for 41% premium or $3.33/share.

SSNA full yrs 2008 financial reports are as followed Company made $0.34/-0.19 share and had $68 million cash on hand.

SSNA Board of Directors have approved use of $55 million of a bank loan to acquire new assets

They also have elected to search for a new CEO/President of the Company as Mr. Gragg has turned down the offer to remain as Senior Adviser and Trader for SSNA more to come on this development.

SSNA Board of Directors have called a special meeting to discuss a probable buyout of LCOS or acquiring another 11% to control the company outright . It is seeking advice from everyone.

SSNA has acquired full control of LCOS through a transfer of stock which where purchase by Mr. Gragg. LCOS 60% for $35.4 million or $2.36/share

Mr. Gragg reacquired the 60% LCOS for $1.90/share to help fund a new project by SSNA.

SSNA Board of Directors has decided to acquire 19% of SCIO as part of a value plan.

SSNA acquisition cost $10.5 million for 19% of SCIO

Mr. Gragg has purchased the remaining outstanding shares of SCIO for his private fund.

Mr. Gragg has bought out Iomega <holding/trading> for $50.3 mil

IOM has acquired 60% LCOS and 81% SCIO as subsidiary. IOM is currently run by E. Gragg who will be sworn in as CEO.

SSNA has borrowed $57 mil for asset acquisitions.

Mr. Gragg has advance SCIO corporation $113 mil to pay down debt. He also included that 75% of his zero interest loan will be forgiven

SSNA acquired California Operating Assets from LEH for $50 mil