?EFGO ?
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Gruß buran
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http://www.espritfinancialgroup.com/
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sind zwar im mom noch vieeele nullen ... limi
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Anruf von Morganfisch - Weebseite:MorganFinsch.com oder müßt Ihr mal herausfinden.
In letzter Zeit wurde soviel Wirbel umm EFGO gemacht, da scheint was drann zu sein!!!!
Ich nehme mal an das er sich für einen Insider ist, oder sich dafür hält.
Jedenfalls habe Ich dann ca. 80 Millionen mir zugelegt.
WKN A0MP70
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http://www.espritfinancialgroup.com/
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Die Nullen werden jedenfalls verschwinden.Ist ein Wunder wenn EFGO minimum 1 US$ erreicht, und in NASDAQ gelistet wird??!!!!!!!!!!!!!!!!!!!!
Ist nur meine Meinung und der Meinung vieler anderer!!
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Announcements @ Esprit Financial Group
10.11.07Insider SharesPosted in Investor Relations at 10:53 pm by adol77dai51
QUESTION:
THe company has claimed there will not be any share structure increases and the bashers on the board [IHUB] keep claiming there will be 2 billion additional shares added to the O/S at anytime if not already.
RESPONSE:
The 2 billion shares are restricted under Rule 144, and subject to the trading restrictions under that rule. They will not hit the market as free trading any time soon, and then, only in quantities limited by Rule 144 relating to market activity.
Permalink Comments
Reverse SplitPosted in Investor Relations at 10:47 pm by adol77dai51
QUESTION:
Is it possible that there will be a reverse split now, which would not affect Mr. Winters shares? This has come up on message boards since this news was posted, and I guess I am just looking for a little reassurance :). Some have posted that a r/s can be a good thing, my experience so far (which I admit is limited), it has really been a bad thing.
So far I am very please with what is going on so far, and the frequent communcation from the company is much appreciated.
Thank you for your time .
RESPONSE:
Should there be any reverse split in the future, the number of votes per preferred share would be reduced on a pro-rata basis to preserve the status quo. Again, the Company will not execute a reverse split solely to reduce the number of shares outstanding. It will only be considered if a major new business development required.
Permalink 1 Comment
CEO Garr Winters LongevityPosted in Investor Relations at 10:40 pm by EricTheRed
QUESTION:
There is a lot of talk about Mr. Winters leaving at the end of the year. Is this true?I believe he is doing a great job of moving this company forward this year and I for one would like to see him continue in his role, with his direction, this is only the beginning of even greater things to come.
RESPONSE:
We’ve been trying very hard to convince him to stay. That is one of the reasons we reached an accord to transfer some of Minaco-Tradex’s preferred shares to him.We will let him comment further himself. Look for it shortly on the Town Hall. .
Permalink Comments
Auditied FinancialsPosted in Uncategorized, Investor Relations at 10:24 pm by Chris
QUESTION:
Why isn’t EFGO auditing financials?
Thanks
RESPONSE:
We intend to provide audited statements when appropriate, most likely for the 2007 year-end. Auditing quarterlies is an expensive and time-consuming exercise. The year-end numbers will be much more meaningful.Additionally, it will become much more relevant to issue audited statements once the revenues have started to ramp up. At this point, we have advised stakeholders that we have not yet begun to recognize significant increases to top-line revenue. It makes more sense to audit statements after we have started to achieve significant growth, to validate the accuracy of the increases in revenue, cash flow and assets after they start being realized.Most accounting disasters relate to inflated earnings and assets, and have an impact on shareholders when they buy and/or hold shares based on these inflated numbers, and then lose money when earnings have to be re-stated downwards.
We are not yet a large Blue Chip large-cap Company. There is much more upside potential than downside. We have ambitious plans. We don’t intend to let them get derailed by running out of cash, and we will continue to preserve liquid assets to the greatest extent possible.
We hope this addresses your concerns.
Permalink 1 Comment
Garr/Minaco-TradeX sharesPosted in Announcements, Investor Relations at 10:05 pm by EricTheRed
QUESTION:
I think that is great news that Garr will be here next year to continue to run the company.Some concerns after reading these post need answered.
I thought the preferred shares were only 2000, obviously Gar can not live off of a portion of these. So how many shares do Minaco-TradeX own and how/when did this happen?
It was stated these shares are the same as our common shares only with 30,000: 1 voting rights. Again how can he live off that.
Still concerned about losing my share count after the O/S has double since buying my shares, giving me ½ the percentage to O/S I had before.
RESPONSE:
First, we must clarify that he has not agreed to stay and run the Company. We are discussing an ongoing role in the Company. However, he has other business interests that will conflict with him staying on a full-time basis. He will comment shortly on the Town Hall himself.
To the first question, Garr is a very successful businessman. He does not need to sell shares to survive financially. That is why he turned the shares back to the Company. To be able to sell a few shares in bits and pieces is not worth the trouble (as an insider there are still stiff restrictions on the number of shares he can sell). He does, however, deserve to be compensated for all of the work he has done. If and when we close some of the major deals on the table, he will have earned the right to be properly compensated. That is the intent of transferring dome of the preferred shares to him. That provides the opportunity for him to be compensated in the future. Both the Company and Minaco-Tradex have recognized this factor, and this is the simplest way to provide compensation at a future date commensurate with his actual performance.The preferred shares are preferred in only one respect, and that is their multiple voting rights of 30,000,000 per share. There is no current market for them. They were issued to Minaco-Tradex exactly as announced. There are only 2,000 issued. They are currently all held by Minaco-Tradex. The transaction to transfer a portion of them to Mr. Winters has not yet been executed. All parties are acting simply on good faith.
As for your last question, the answer is also straightforward. While your percentage of the Company may be less than it was, we believe the assets acquired have added substantially more than the dilution factor. Like the age old addage; Would you rather have 100% of nothing, or half of something valuable?
Esprit will either grow, or wither on the vine. Under Garr’s leadership, the Company has taken an aggressive approach to growth, by diversifying into new areas that trade on the Company’s core competencies. Obviously we can’t expect to hit a home run on every single initiative. However, we have had a lot more opportunities ‘at bat’ since the strategic change. If only one deals works out well, the Company will be far ahead of where it would have been. We believe our actual batting percentage is going to be a lot more respectable than that.
Once we start closing contracts on the table, we should be able to silence all the naysayers. In the mean time, all the ‘chicken little contingent’ has been able to do is scare away a couple of potential deals with their endless criticisms, as well as potential new investors.
We look forward to the opportunity to shut them up once and for all. Why a shareholder would constantly complain while insisting they are ‘long’ is beyond us. If they think Esprit is such a terrible Company, sell and move on. Be a man, take your loss, and go invest brilliantly somewhere else.
Otherwise, be quiet and give us a chance to prove the value of what we are working on. Remember, when Xerox made the first duplicating machine, they thought it was a solution to a question that no one had asked, and expected it to go nowhere. Whoops. That turned out to be a bit of an under-estimate. Everyone wrote off Apple, until they came back.
Enough said.
Permalink 1 Comment
Nevada S.O.SPosted in Investor Relations at 9:28 pm by thamsgt
QUESTION:
According to this September Nevada Sec of state Hugo Rubio is still affliated with Cash Now. Am I reading this correctly? To what capacity is Rubio affiliated with Espirit? I thought he was gone?
RESPONSE:
Hugo Rubio continues to be a director of the Company. That has not changed. His role is simply the same as any director of public company, which means that he is not actively involved in the daily operations of the Company. However, he does have a fiduciary duty to protect the interests of the shareholders at all times.
Permalink 1 Comment
10.09.07Investor Awareness CampaignPosted in Investor Relations at 8:20 pm by adol77dai51
QUESTION:
I see where ConnectAJet.com (cajt) has been running and investor awareness campaign for the last couple weeks, which includes a full page ad in the USA Today daily paper. Their stock has went from approx. $1.25 to $2.75. This has obviously work for them.
Is this the kind of full out exposure you are going to do? And when will this campaign start.
RESPONSE:
That’s a little out of our league. A full page ad runs roughly $150,000 per insertion. Our campaigns have been online, using websites, newsletters etc. targetted to micro cap investors. When we can announce major news, we can ramp up an online campaign and spend more aggressively.
Permalink 1 Comment
Great days ahead!!!Posted in Investor Relations at 8:09 pm by GoVols1
To the EFGO staff,
Thanks guys for keeping the communication lines open for us. Between the returned emails and the Town Hall, most all my questions are always answered. I understand that all my emails can not be answered as it may effect progress and could be considered inside information, but it’s obvious to me that you try your best to answer all the questions that you can. I’m very anxious to here about the progress in China and with IFGX as well. At these levels, I consider EFGO to be one of the greatest potential investments of the year. Thanks for your efforts and keep up the good work!!!
Permalink Comments
I’m behind you EFGO! [Reverse Split]Posted in Investor Relations at 8:09 pm by planetoid_cranium
COMMENT;
Many trader’s are sitting on pins and needles- struggling for any information to calm their fears. Many do not understand the options that are available to public companies- to make money! That’s what is all about, really. Ponder this: EFGO has many options through themselves and the aquired shell companies. Obviously- selling the shell companies would be an instant source of cash and revenue stream- depending on how the deal is structured. Although, that affects the balance sheet, and the value of the company- most are worried about EFGO proper. Many are worried about a R/S. Don’t! A reverse split is most likely inevitable, and quite frankly- needed at some point. The O/S are ridiculous. For EFGO to be a major player in the financial sector- it’s O/S must be under 800million at some point! It is wishful thinking- to expect EFGO to buyback billions of shares. This is not ecomically feasible, or time capable! They would only be able to buy back up to 25% of the daily trading volume- do the math- it would take a long time. A R/S is the only option- but traders fear a R/S- concentrating on the reduction of shares- not the increase of value per share, or the range those shares can increase- if a company like EFGO is strong, with GOOD HORIZONS! Many will disagree with me- until they truly THINK about it. A 10:1 REVERSE SPLIT is NOTHING TO INVESTORS(investors have millions of shares)- BUT EVERYTHING to the VALUE OF EFGO, and ultimately to the INVESTORS PROFITABILITY! For those who agree- see you at the finish line. For those who don’t- SELL ME YOUR SHARES.
RESPONSE:
We will not do a reverse split just to reduce the number of shares. The bottom line, it is the market cap that is important in valuing Company shares. If the PPS goes to .001, the market cap rises to $10 million, .002 equals $20 million. A reverse split would not change the market cap, only the value of each share. We don’t think our shareholders will complain if they have 10 million shares worth $10,000 or 1,000 shares worth the same amount. Of course, the higher, the better.Yes, we may have to address the number of shares in the future, but from a position of strength, after we have proven the true value of the Company
As previously noted, this could coincide with a major business development that requires this type of adjustment.
Permalink 3 Comments
Please answer the check 21 questionPosted in Announcements, Investor Relations at 7:56 pm by thamsgt
QUESTION:
As I have mentioned many shareholders don’t quite understand the check21 process can someone explain it in laymens terms………….Thanks.
RESPONSE:
“Check 21″ (Check Clearing for the 21st Century Act) is an U.S. federal law that became effective on October 28, 2004. It is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient.As of mid-2006, most banks physically moved original paper checks from the bank where the checks were deposited to the bank that paid them. This transportation can be inefficient and costly.
With check 21, the original checks are scanned (front and back) and then cleared electronically. This radically speeds up the check clearing process, as the paper checks no longer have to be transported, sorted, cleared, returned to the originating bank etc. Usually 80% of the funds of a check deposit are available to the depositor within 24 hours, and the remaining funds within 48.
If necessary, Check 21 allows for the creation of “Substitute Checks” from check images. These Substitute Checks are essentially a printout of the original check, have the same legal status can be processed in the same way.
For U.S. denominated checks that are deposited overseas, this increased efficiency is much more dramatic. A U.S. check deposited in China can take up to five weeks to clear. Check 21 will clear it in a fraction of that time. It therefore becomes a very valuable convenience for the party depositing the check, in exchange for a small service fee.
Permalink 3 Comments
New IFGX Division HeadPosted in Press Releases, Announcements, Investor Relations at 4:54 pm by adol77dai51
Esprit will be issuing a press release this afternoon related to the IFGX division. The full content of the release is included below.
Esprit Financial Group Inc. (Esprit) (EFGO.PK) IFGX Division appoints Steve Edwards Vice President, Business Development North AmericaLAS VEGAS, Oct 9th 2007 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today the hiring of Steve Edwards as Vice President, Business Development for its IFGX division, responsible for the North American market. Mr. Edwards has extensive experience in sales development in a number of different industries, including the Financial Sector.
Commenting on the appointment, CEO Garr Winters said: “We are very excited with the way things are proceeding for IFGX. While there has been a lot of focus on our new opportunities in China, we have also made significant progress attracting interest from North American based companies. The IFGX division has been progressing much more quickly than anticipated. We have brought Steve in to take on responsibility for this area and relieve pressure and allow senior management to retain primary focus on business developments in China. Steve brings with him a wealth of experience in sales and he has been very pro-active in taking charge of this important division in the short time he has been with the Company.”
Esprit’s IFGX.com will primarily provide financial consulting to assist companies wishing to enter the public markets, primarily through reverse mergers with shell companies controlled by Esprit. The division will also provide merchant banking services, providing clients with assistance in raising funds to fuel growth.
Esprit Financial is very bullish on growth with a number of new exciting business opportunities in the offing. Over the last few months the Company has been acquiring a shell companies with this purpose in mind.
Winters added: “We are now pretty well geared up to bring a number of projects on line in the coming months. We have also recently launched a website devoted to IFGX; www.ifgx.com to support the growth of this division”.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division, Forex Trading, Advanced Electronic Funds Management, and IFGX Specialized Investment Banking and Financial Advisory Services.
Safe Harbor Statement
Information in this press release may contain ‘forward-looking statements.’ Statements describing objectives or goals or the Company’s future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group’s products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group’s periodic reports filed with the regulatory authorities.
espritfinancialgroup@gmail.com
Investor Relations: 1-416-619-0397
Permalink 1 Comment
AdvertisingPosted in Investor Relations at 4:51 pm by Chris
QUESTIONl:
How are you going to market and advertise the new IFGX website to potential clients? Do you have any plans of doing commercial adds?
Thanks
REPONSE:
These are specialized deals, and not marketed using traditional techniques. We have developed a network of contacts over the last year that steer potential clients to us. We will also develop an SEO (search engine optimization) program that will enable our website to raise its visiblity for potential clients using search engines to find companies that can assist them in going public or raising funds.
Permalink Comments
10.08.07QUESTION: Moving to OTCBBPosted in Investor Relations at 8:41 pm by gotmoneyido
QUESTION:
So is the paln to move in a otc bb shell that you own still a go? If so, where are we at on this project thanks and keep up the good work see you in the pennys lol
RESPONSE:
The decision to uplist to the OTCBB has not been made. The Company is considering various options, but will not take any immediate action pending results from at least some of the projects currently under negotiation in China. These can have a potential material impact on the decision as to the most appropriate venue for Esprit.
Permalink Comments
Who is IHUB?Posted in Investor Relations at 8:33 pm by ebiz3000
QUESTION:
I keep reading about IHUB. Who are they and how do I get in touch with them? I own shares in this company and have a real interest in what is happening with the shares.
Thank you.
RESPONSE:
Investors Hub is an online chat forum that hosts a large number of chat boards related to different stocks. Each chat board follows a different stock, or topic of interest related to investing. It currently has over 100,000 Members on over 9000 Boards. It provides a forum for investors to share information about a Company, which helps with the Due Diligence process for potential and existing investors. However, comments can be speculative in nature. There are no real controls to verify the accuracy of any specific comments, as it is a public forum open to all.There is an active IHub board that follow’s Esprit’s stock. It can be found at:http://investorshub.advfn.com/boards/board.asp?board_id=6529
Note: Chat boards often have members with hidden agendas. Beware of bashers (people who are trying to undermine the value of the stock with negative comments) and promoters who are trying to generate excitement about the stock without providing any real information.
Permalink Comments
WTH?Posted in Investor Relations at 8:08 pm by planetoid_cranium
COMMENT;
If you please-I think it is curious: that most town hall posts are coming from adol77dai51. Is this a psuedoname for the administrator of the town hall forum? If it isn’t- I think most answers could be e-mailed to him/her! This person is obviously a novice with the inability to understand a simple employee “pay package”! If it is- stop trying to manipulate the forum- with propoganda- and just start answering REAL investor posts! Thank you.
RESPONSE;
We only answer legitimate questions that have been posed to Esprit from outside sources. Often, the same question is asked by a number of different people. We take editorial license, and post a single question rather than repeating the same response to multiple enquiries. We edit out inappropriate language, but generally try to leave the questions intact (including the odd spelling mistake). If you scan through the Town Hall posts, you will see that a number of questions posted are challenging, if not outright confrontational.We usually cut and paste questions from various questions and sources, which accounts for the adol77dai51 links.
We often get feedback from posters who are surpised that we had the courage to post there questions as asked.
You will note that we toned down the Headline in this post, but oterhwise left your comment intact, as per standard policy.
Permalink Comments
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Posted in Announcements, Investor Relations at 7:56 pm by thamsgt
QUESTION:
As I have mentioned many shareholders don’t quite understand the check21 process can someone explain it in laymens terms………….Thanks.
RESPONSE:
“Check 21″ (Check Clearing for the 21st Century Act) is an U.S. federal law that became effective on October 28, 2004. It is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient.As of mid-2006, most banks physically moved original paper checks from the bank where the checks were deposited to the bank that paid them. This transportation can be inefficient and costly.
With check 21, the original checks are scanned (front and back) and then cleared electronically. This radically speeds up the check clearing process, as the paper checks no longer have to be transported, sorted, cleared, returned to the originating bank etc. Usually 80% of the funds of a check deposit are available to the depositor within 24 hours, and the remaining funds within 48.
If necessary, Check 21 allows for the creation of “Substitute Checks” from check images. These Substitute Checks are essentially a printout of the original check, have the same legal status can be processed in the same way.
For U.S. denominated checks that are deposited overseas, this increased efficiency is much more dramatic. A U.S. check deposited in China can take up to five weeks to clear. Check 21 will clear it in a fraction of that time. It therefore becomes a very valuable convenience for the party depositing the check, in exchange for a small service fee.
Permalink 3 Comments
New IFGX Division Head
Posted in Press Releases, Announcements, Investor Relations at 4:54 pm by adol77dai51
Esprit will be issuing a press release this afternoon related to the IFGX division. The full content of the release is included below.
Esprit Financial Group Inc. (Esprit) (EFGO.PK) IFGX Division appoints Steve Edwards Vice President, Business Development North AmericaLAS VEGAS, Oct 9th 2007 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today the hiring of Steve Edwards as Vice President, Business Development for its IFGX division, responsible for the North American market. Mr. Edwards has extensive experience in sales development in a number of different industries, including the Financial Sector.
Commenting on the appointment, CEO Garr Winters said: “We are very excited with the way things are proceeding for IFGX. While there has been a lot of focus on our new opportunities in China, we have also made significant progress attracting interest from North American based companies. The IFGX division has been progressing much more quickly than anticipated. We have brought Steve in to take on responsibility for this area and relieve pressure and allow senior management to retain primary focus on business developments in China. Steve brings with him a wealth of experience in sales and he has been very pro-active in taking charge of this important division in the short time he has been with the Company.”
Esprit’s IFGX.com will primarily provide financial consulting to assist companies wishing to enter the public markets, primarily through reverse mergers with shell companies controlled by Esprit. The division will also provide merchant banking services, providing clients with assistance in raising funds to fuel growth.
Esprit Financial is very bullish on growth with a number of new exciting business opportunities in the offing. Over the last few months the Company has been acquiring a shell companies with this purpose in mind.
Winters added: “We are now pretty well geared up to bring a number of projects on line in the coming months. We have also recently launched a website devoted to IFGX; www.ifgx.com to support the growth of this division”.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division, Forex Trading, Advanced Electronic Funds Management, and IFGX Specialized Investment Banking and Financial Advisory Services.
Safe Harbor Statement
Information in this press release may contain ‘forward-looking statements.’ Statements describing objectives or goals or the Company’s future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group’s products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group’s periodic reports filed with the regulatory authorities.
espritfinancialgroup@gmail.com
Investor Relations: 1-416-619-0397
Permalink 1 Comment
Advertising
Posted in Investor Relations at 4:51 pm by Chris
QUESTIONl:
How are you going to market and advertise the new IFGX website to potential clients? Do you have any plans of doing commercial adds?
Thanks
REPONSE:
These are specialized deals, and not marketed using traditional techniques. We have developed a network of contacts over the last year that steer potential clients to us. We will also develop an SEO (search engine optimization) program that will enable our website to raise its visiblity for potential clients using search engines to find companies that can assist them in going public or raising funds.
Permalink Comments
10.08.07
QUESTION: Moving to OTCBB
Posted in Investor Relations at 8:41 pm by gotmoneyido
QUESTION:
So is the paln to move in a otc bb shell that you own still a go? If so, where are we at on this project thanks and keep up the good work see you in the pennys lol
RESPONSE:
The decision to uplist to the OTCBB has not been made. The Company is considering various options, but will not take any immediate action pending results from at least some of the projects currently under negotiation in China. These can have a potential material impact on the decision as to the most appropriate venue for Esprit.
Permalink Comments
Who is IHUB?
Posted in Investor Relations at 8:33 pm by ebiz3000
QUESTION:
I keep reading about IHUB. Who are they and how do I get in touch with them? I own shares in this company and have a real interest in what is happening with the shares.
Thank you.
RESPONSE:
Investors Hub is an online chat forum that hosts a large number of chat boards related to different stocks. Each chat board follows a different stock, or topic of interest related to investing. It currently has over 100,000 Members on over 9000 Boards. It provides a forum for investors to share information about a Company, which helps with the Due Diligence process for potential and existing investors. However, comments can be speculative in nature. There are no real controls to verify the accuracy of any specific comments, as it is a public forum open to all.There is an active IHub board that follow’s Esprit’s stock. It can be found at:http://investorshub.advfn.com/boards/board.asp?board_id=6529
Note: Chat boards often have members with hidden agendas. Beware of bashers (people who are trying to undermine the value of the stock with negative comments) and promoters who are trying to generate excitement about the stock without providing any real information.
Permalink Comments
WTH?
Posted in Investor Relations at 8:08 pm by planetoid_cranium
COMMENT;
If you please-I think it is curious: that most town hall posts are coming from adol77dai51. Is this a psuedoname for the administrator of the town hall forum? If it isn’t- I think most answers could be e-mailed to him/her! This person is obviously a novice with the inability to understand a simple employee “pay package”! If it is- stop trying to manipulate the forum- with propoganda- and just start answering REAL investor posts! Thank you.
RESPONSE;
We only answer legitimate questions that have been posed to Esprit from outside sources. Often, the same question is asked by a number of different people. We take editorial license, and post a single question rather than repeating the same response to multiple enquiries. We edit out inappropriate language, but generally try to leave the questions intact (including the odd spelling mistake). If you scan through the Town Hall posts, you will see that a number of questions posted are challenging, if not outright confrontational.We usually cut and paste questions from various questions and sources, which accounts for the adol77dai51 links.
We often get feedback from posters who are surpised that we had the courage to post there questions as asked.
You will note that we toned down the Headline in this post, but oterhwise left your comment intact, as per standard policy.
Permalink Comments
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All posts are just my opinion.
ESPRIT FINANCIAL GROUP INCORPORATED-EFGO
Handelbar an folgenden Börsenplätzen: Frankfurt & USA - Geplant sind u.a. an die OTCBB und London u.a.
CEO Interview
Transcript of interview with Garr Winters, CEO of EFGO.
Broadcast 5/23/07 on WallSt.net:
http://wallst.net/audio/audio.asp?ticker=EFGO&id=3421
Older Interviews
http://www.wallst.net/audio_bin/3021.wma
MP3 format
http://filexoom.com/files/2007/2/9/57967/CEO%20Interview.mp3
Check 21 Scanners to China
Renomiertes Management Team:
Garr Winters
Robert Xu
Peter Presland
Keith Roberts
Peter He
Ron
Yes they go for $50,000-$300,000 OTCBB for $500,000 and Nasdaq 1.5 mill
These shells are Nadaq qualified BTW! IFGX needs to get a client that has assets to meet Nasdaq rules
EFGO ist IFGX
EFGO and NSS
EFGO and GVHL
Minaco ist based London
Company Links:
http://www.espritfinancialgroup.com
http://www.cashnow.com
http://www.cashnow.com/floridaoffice
http://www.espritfinancialgroup.com/EM2.html
http://www.atmbusiness.com
http://www.trustvault.com
http://www.cashnext.com
http://www.ifgx.com
Europeans - Check this out - Info on the Euro FX
http://www.cashnow.co.uk
Australia
http://www.cashnowau.com
For complete company disclosure, visit;
http://http://www.pinksheets.com/otciq/ajax/...ialReportById?id=11314
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23434094
http://aktien.wallstreet-online.de/informer/...=3m&mode=pages_reverse
http://www.4investors.de/forum/index.php
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
http://www.ariva.de/Leute_vergisst_nicht_zu_positionieren_t305132
http://www.Aktienscheck.de
http://www.Stockhouse.com u.v.m.
http://www.bloomberg.com/apps/news?pid=conews&tkr=EFGO:US
Related Press Releases
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aVQsIqt1Pm6U
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=a8bXX2ysj7w4
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aFhl_X6o9VAY
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=anneZQZlrAno
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aCIjt5tg.kms
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=apAd2bkumws0
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=anH.b1Q3cLcU
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=agR248Z3lvcw
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aYWjKcO969Gw
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aPN17l0uHddI
EFGO corporate guidance. A must read!!!! :
http://cashnow.com/espritfinancialgroup/.../06/corporate-guidance.pdf
LAS VEGAS, Oct. 5 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today
that its CEO, Garr Winters, will be returning to China next week for high-level negotiations on several business projects.
Jun 29 2007 4:21 PM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Completes Acquisition of Check 21 China (Press Release)
Jun 26 2007 11:05 PM ET
Esprit Financial Group Inc Announces Three US Based Banks
Jun 25 2007 11:54AM ET
Interest In Check 21 Service Options for Chinese Market (Press Release)
Jun 21 2007 9:37AM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Plans to Wholesale ATM Machines
Tuesday Jun 19 2007 3:28 AM ET
Esprit Financial Group acquires Check 21 China
http://www.pinksheets.com/quote/news.jsp?symbol=EFGO
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Discovers New Low-Cost ATM Supplier During China Travel (Press Release)
Thursday June 14 2007 11:13 AM ET
Tuesday June 12 2007 4:03 AM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Introduces New Branding for Advanced Electronic Funds Management Division
Monday June 4th, 4:20 pm ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces the Release of its Quarterly Report
OK lets do the math!
IFGX is listed as 5% or more shareholder.(this sum could be 7 8 or 10% I assumed it is 7.5% in my calculations
So lets take a low number of 5%
62 mm shares @ 5% = 3.1 million shares
3.1 mm shares @ 1.00 euro = 3.1 mm EUROS
3.1 mm Euros is 4.5 mm USD
So at 5% IFGX is 4.5 mm USD in the deal at 10% it is 9 mm USD
That is from the Emerald they also Pr Magna Plus we have GVHL
Capish?
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did,
I believe there would be a revolution before tomorrow morning."
Quote by: Henry Ford
(1863-1947) Founder of Ford Motor Company
LAS VEGAS, Sept 12, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK)
www.espritfinancialgroup.com is pleased to announce that it has signed a new licensing agreement of its PayDay Loan Software system for the Indiana regional district.
LAS VEGAS, Sept 17, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that
it has signed a new licensing agreement of its PayDay Loan Software system to an independent Florida based company.
LAS VEGAS, Sept 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it will begin testing its Check 21 service for the Chinese market.
September - 21.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK)
Announces Signing of Utah PayDay Loan Regional Distributor
September - 24.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Retains Chinese Law Firm for Upcoming Projects
September - 27.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK) IFGX Division to assist Chinese companies entering public markets
ESPRIT FINANCIAL GROUP INCORPORATED-EFGO
For complete company disclosure, visit;
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
Quarterly Report Jun 30, 2007 Aug 14, 2007
Articles of Incorporation Jul 31, 2007 Aug 3, 2007
Corporate Bylaws Jul 31, 2007 Aug 1, 2007
Attorney Letter with Respect to Current Information Jul 31, 2007 Aug 1, 2007
Management Discussion and Analysis Jul 31, 2007 Jul 31, 2007
Quarterly Report Mar 31, 2007 Jul 6, 2007
Annual Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Sep 30, 2006 Dec 14, 2006
Quarterly Report Jun 30, 2006 Aug 16, 2006
Yes they go for $50,000-$300,000 OTCBB for $500,000 and Nasdaq 1.5 mill
These shells are Nadaq qualified BTW! IFGX needs to get a client that has assets to meet Nasdaq rules
Ich werde immer nachkaufen!!
Forever trust in who you are and nothing else matters
-Metallica
All IMO
Do your own research.To you I say shut up and leave!
TY
EFGO - Strong Buy and Stay Long - $$$$
Optionen
| Boardmail an "Haier" |
Wertpapier: DAX |
Angehängte Grafik:
managementteamofefgou.jpg (verkleinert auf 78%)
managementteamofefgou.jpg (verkleinert auf 78%)
All posts are just my opinion.
ESPRIT FINANCIAL GROUP INCORPORATED-EFGO
Handelbar an folgenden Börsenplätzen: Frankfurt & USA - Geplant sind u.a. an die OTCBB und London u.a.
CEO Interview
Transcript of interview with Garr Winters, CEO of EFGO.
Broadcast 5/23/07 on WallSt.net:
http://wallst.net/audio/audio.asp?ticker=EFGO&id=3421
Older Interviews
http://www.wallst.net/audio_bin/3021.wma
MP3 format
http://filexoom.com/files/2007/2/9/57967/CEO%20Interview.mp3
Check 21 Scanners to China
Renomiertes Management Team:
Garr Winters
Robert Xu
Peter Presland
Keith Roberts
Peter He
Ron
Yes they go for $50,000-$300,000 OTCBB for $500,000 and Nasdaq 1.5 mill
These shells are Nadaq qualified BTW! IFGX needs to get a client that has assets to meet Nasdaq rules
EFGO ist IFGX
EFGO and NSS
EFGO and GVHL
Minaco ist based London
Company Links:
Text zur Anzeige gekürzt. Gesamtes Posting anzeigen...
http://www.espritfinancialgroup.com
http://www.cashnow.com
http://www.cashnow.com/floridaoffice
http://www.espritfinancialgroup.com/EM2.html
http://www.atmbusiness.com
http://www.trustvault.com
http://www.cashnext.com
http://www.ifgx.com
Europeans - Check this out - Info on the Euro FX
http://www.cashnow.co.uk
Australia
http://www.cashnowau.com
For complete company disclosure, visit;
http://http://www.pinksheets.com/otciq/ajax/...ialReportById?id=11314
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23434094
http://aktien.wallstreet-online.de/informer/...=3m&mode=pages_reverse
http://www.4investors.de/forum/index.php
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
http://www.ariva.de/Leute_vergisst_nicht_zu_positionieren_t305132
http://www.Aktienscheck.de
http://www.Stockhouse.com u.v.m.
http://www.bloomberg.com/apps/news?pid=conews&tkr=EFGO:US
Related Press Releases
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aVQsIqt1Pm6U
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=a8bXX2ysj7w4
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aFhl_X6o9VAY
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=anneZQZlrAno
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aCIjt5tg.kms
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=apAd2bkumws0
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=anH.b1Q3cLcU
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=agR248Z3lvcw
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aYWjKcO969Gw
http://www.bloomberg.com/apps/...=conews&tkr=EFGO:US&sid=aPN17l0uHddI
EFGO corporate guidance. A must read!!!! :
http://cashnow.com/espritfinancialgroup/.../06/corporate-guidance.pdf
LAS VEGAS, Oct. 5 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today
that its CEO, Garr Winters, will be returning to China next week for high-level negotiations on several business projects.
Jun 29 2007 4:21 PM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Completes Acquisition of Check 21 China (Press Release)
Jun 26 2007 11:05 PM ET
Esprit Financial Group Inc Announces Three US Based Banks
Jun 25 2007 11:54AM ET
Interest In Check 21 Service Options for Chinese Market (Press Release)
Jun 21 2007 9:37AM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Plans to Wholesale ATM Machines
Tuesday Jun 19 2007 3:28 AM ET
Esprit Financial Group acquires Check 21 China
http://www.pinksheets.com/quote/news.jsp?symbol=EFGO
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Discovers New Low-Cost ATM Supplier During China Travel (Press Release)
Thursday June 14 2007 11:13 AM ET
Tuesday June 12 2007 4:03 AM ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Introduces New Branding for Advanced Electronic Funds Management Division
Monday June 4th, 4:20 pm ET
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces the Release of its Quarterly Report
OK lets do the math!
IFGX is listed as 5% or more shareholder.(this sum could be 7 8 or 10% I assumed it is 7.5% in my calculations
So lets take a low number of 5%
62 mm shares @ 5% = 3.1 million shares
3.1 mm shares @ 1.00 euro = 3.1 mm EUROS
3.1 mm Euros is 4.5 mm USD
So at 5% IFGX is 4.5 mm USD in the deal at 10% it is 9 mm USD
That is from the Emerald they also Pr Magna Plus we have GVHL
Capish?
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did,
I believe there would be a revolution before tomorrow morning."
Quote by: Henry Ford
(1863-1947) Founder of Ford Motor Company
LAS VEGAS, Sept 12, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK)
www.espritfinancialgroup.com is pleased to announce that it has signed a new licensing agreement of its PayDay Loan Software system for the Indiana regional district.
LAS VEGAS, Sept 17, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that
it has signed a new licensing agreement of its PayDay Loan Software system to an independent Florida based company.
LAS VEGAS, Sept 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it will begin testing its Check 21 service for the Chinese market.
September - 21.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK)
Announces Signing of Utah PayDay Loan Regional Distributor
September - 24.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Retains Chinese Law Firm for Upcoming Projects
September - 27.2007 -
Esprit Financial Group Inc. (Esprit) (EFGO.PK) IFGX Division to assist Chinese companies entering public markets
ESPRIT FINANCIAL GROUP INCORPORATED-EFGO
For complete company disclosure, visit;
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
Quarterly Report Jun 30, 2007 Aug 14, 2007
Articles of Incorporation Jul 31, 2007 Aug 3, 2007
Corporate Bylaws Jul 31, 2007 Aug 1, 2007
Attorney Letter with Respect to Current Information Jul 31, 2007 Aug 1, 2007
Management Discussion and Analysis Jul 31, 2007 Jul 31, 2007
Quarterly Report Mar 31, 2007 Jul 6, 2007
Annual Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Sep 30, 2006 Dec 14, 2006
Quarterly Report Jun 30, 2006 Aug 16, 2006
Yes they go for $50,000-$300,000 OTCBB for $500,000 and Nasdaq 1.5 mill
These shells are Nadaq qualified BTW! IFGX needs to get a client that has assets to meet Nasdaq rules
Ich werde immer nachkaufen!!
Forever trust in who you are and nothing else matters
-Metallica
All IMO
Do your own research.To you I say shut up and leave!
TY
EFGO - Strong Buy and Stay Long - $$$$
Optionen
| Boardmail an "Haier" |
Wertpapier: DAX |
Angehängte Grafik:
managementteamofefgou.jpg (verkleinert auf 78%)
managementteamofefgou.jpg (verkleinert auf 78%)
aus der schule bin ich nu schon eiige tage raus, wo wir kettenbriefe und sonstiges gespielt haben...
Hier das sehe ich ähnlich, aber wenn du spielen willst, versuch es doch mal mit 50ig oder 100 euro; bekommst auf alle fälle eine menge ???? -
bloss solltest du auch einen grossen bekanntenkreis haben, die sie dir dann wieder abkaufen.... *gg
Sonst könnte man für die 100 euro auch schön essen gehen....
Aber das weisst du ja selber,
in diesem sinne dir ein schönes WE ... limi
Optionen
| Boardmail an "buran" |
Wertpapier: DAX |
Nach durchkämmen der NAchrichten und Company Hintergrundhinformationen werden bei einigen die Glühbirne glühen, und werden feststellen, das sich Hier was braut, was sehr großes.
Wie heißt es so schön: No Risk, No Big Money,Hierbei spreche Ich von sehr vielen $$$$$$$!!
Nun jeder handelt für einige Rechn ung.Infos und Ratschläge und Tip sind immer willkomen, sollten aber dementsprechend sachlich und klar definiert formuliert sein.
Wer nach spätestens 1-2 Monaten immer nach anders denkt, das der jenige mit Dax Werten besser aufgehoben wäre.
Leute, da braut sich was zusammen. EFGO agiert aggresiv am Markt.Die wissens schon wie sie das machen.
Und das ist immer gut für meine Kasse und für die die investiert sind bzw. noch die Absicht in EFGO investieren wollen.
Ich ünsche jedem ein schönes WE
EFGO - Strong Buy and be Long
Godd Luck
Gruß Haier
Optionen
| Boardmail an "Haier" |
Wertpapier: DAX |
Letter to the Shareholders from Garr Winter
Posted in Announcements, Investor Relations at 7:40 pm by adol77dai51
I’d like to take the opportunity to say a few words regarding the progress of Esprit and where we are heading. They are overdue, and I apologize for the delay. First, let me express my thanks for the many positive comments we receive from our shareholders. An even bigger thanks for your patience. We have been hard at work building a solid foundation upon which to achieve very aggressive objectives in terms of growth. I know that it can be frustrating to be told deals are in the works, contracts are being negotiated, and everything good is yet to come. Please know that we are as impatient as you to start closing some of these deals. More importantly, we have a high level of confidence that we can deliver that growth, and reward your patience very, very handsomely.
I know we have our detractors as well. I want to make clear that we are doing everything in our power to move things forwards as quickly as humanly possible. I think we all understand how important that is, not only from a financial point of view to build the Company to the next level, but to start generating solid, positive momentum in our stock. Again, as insiders, we can see further down the road more easily. I am therefore very optimistic about the next couple of quarters, based on the business developments we are working on.
It is also a poorly kept secret that the Company has suffered from significant short selling, and from what I can tell, there have been some desperate moves to accuse the Company of everything from outright lying and fraud, to stealing candy from a baby. Many of these criticisms seem designed to undermine confidence in the Company, rather than express legitimate complaints, in order to keep the stock price low until the shorts can cover their positions. I trust the ability of our shareholders to be able to differentiate hysterical accusations from legitimate concerns.
I’d like to announce at this point that I am planning to continue work with Esprit beyond the end of this year. Part of this is selfish. The remainder of 2007 promises to be a whirlwind. We have worked very hard to develop new opportunities to grow our Company. I’d like to hang around for a while and enjoy the fruits of our labor as we begin to turn plans into reality, and good intentions into cold hard cash.
While I will not be able to stay on in a full-time capacity as the CEO, I will remain involved to help the Company transition as it matures and the operational side of the business flourishes. However, I have other business interests that require my attention as well, and need to balance my time between these.
As many of you doubtless know, I have returned my common stock to the Company. Initially, I planned to leave after the end of the year, and would have been free to sell my common stock as I saw fit. However, as an insider, the restrictions on trading Rule 144 stock creates complications, required filings, calculations on how much I can sell at any given time. Like you, I would like to reap the rewards as the price of our stock goes up.
Thankfully, I am well enough off that this is not a financial burden. However, I didn’t get to where I am by being a complete idiot. If some of the deals we are negotiating come through as we intend, I expect to get properly compensated.
We have put together a good faith agreement to have Minaco-Tradex transfer a portion of their preferred shares to me, as the most convenient method. At this time, no shares have been transferred to me. I have confidence that things will unfold as they should, in an equitable manner to all parties. Most importantly, I have confidence that our shareholders will be rewarded for their patience.
Importantly, shareholders should know that I still have a vested interest in seeing the Company’s share price rise significantly, as this is one of the key measures on which my performance will be judged in regards to the preferred shares. In other words, I am still accountable to bring the share price up to its real potential.
I know that our Investor Relations department has been working very hard to answer your questions and concerns, and I have not made it an easy task for them by being out of the country more than in it. If there are delays in responding to your questions, please know that it is often attributable to me.
China:
As most of our shareholders are aware, China has become our key focus.
Robert Xu is completing the testing for the Check 21 service in conjunction with the banks. There was a delay getting the scanners through customs that pushed the testing process back until after the Golden Holiday week. We will provide updates as quickly as possible. I can state that things are looking very positive for this service, and we will provide more in-depth information as we get ready to roll the service out.
There are a number of China based companies that are intent on accessing the public markets outside of China, who have approached us in regards to reverse mergers. While traditional reverse mergers have a variety of obstacles in place within the Chinese regulatory system, we have developed an approach that can achieve a similar result much more easily and within a much shorter time-frame.
This will bring significant new revenues to the Company through our IFGX division. We intend to close one or more contracts in this area within a month.
PayDay Loan Division:
Our sales team continues to generate new software licenses to contribute sales in addition to our existing monthly maintenance revenue.
Australia has just recently passed new legislation that is more restrictive than the U.S. or Canada. It is likely that this will result in softer initial software licensing sales for this market.
On the good news front, Esprit has negotiated a financing package that will allow new licensees to finance the purchase of our software over an extended period of time. This achievement is very recent, and we have successfully put through the first two deals using the financing facility in the last few weeks.
We believe that this financing option will open up a whole new class of licensees, who are looking for home-based businesses. With the ability to spread the cost of start-up over an extended period of time, Cash Now becomes a very attractive business opportunity compared to most other Home-Based or SOHO alternatives.
Advanced Electronic Funds Management (AEFM):
As mentioned above, we are getting very close to green-lighting our Check 21 service for China.
The Company is also in early discussions to begin offering a new electronic funds transfer product to our portfolio. While it is premature to make any announcements, we will provide updates if and when the project advances.
IFGX:
This division has been a bit of a sleeper. The division concentrates on two key financial services; Mergers and Acquisitions (primarily reverse mergers) and merchant banking. We saw these areas as opportunistic, and a way to leverage our knowledge base of the OTC markets.
To our surprise, we have had a couple of deals come to the table within the last few months, and Robert Xu has been approached on multiple occasions by Chinese companies seeking public listings outside of China. I hope to finalize one or more of these deals in China later this month.
We will start showing revenues from this division in the upcoming quarter, and believe that the division can deliver significant revenue primarily from China, but also from the U.S. as well.
We have hired Steve Edwards to head up North American sales, and free up senior management resources.
Forex:
We have de-prioritized this project during the last quarter, but will renew our focus in this division during the last quarter of this year.
In the mean-time, Peter Presland has begun trading a house account on behalf of the Company, and has been evaluating a number of third party services that can generate additional revenue beyond the pip spread.
We will be revamping the website and adding a number of related services to our portfolio in the upcoming quarter.
In summary, there have been a lot of exciting developments for the Company during the last quarter. We didn’t end up exactly where we planned, and there have been a few bumps along the way, but we have also been quick to seize new opportunities that have presented themselves.
Jack Chang was a bitter disappointment, while Robert Xu has delivered in spades. We stalled out a little on the Forex front, but saw the IFGX division roar to life and show growth potential well beyond our initial expectations.
China holds the promise of radically transforming the Company, not only from the projects we have announced, but from projects that are not yet finalized and still confidential in nature.
Net-net, we are a couple months behind our plans in terms of generating top line revenue, but we are working on a number of projects much larger in-scope and scale, and with higher revenue potential than originally anticipated.
In short, we think we’re going to end this year with a helluva bang!
Sincerely,
Garr Winters
Immer mehr Menschen verbringen viel Zeit im Internet:
Experten sprechen von Online-Sucht...
+++++++++++++++
"Scheinwelt" passt hier irgendwie. *gg
Für meinen teil bin ich vielleicht auch ein bischen ariva-süchtig,
jedoch nicht süchtig nach solchen aktien...
und sternchen für mein geschreibsel brauchs auch nicht ... danke !
limi
Ich kann nur über euch lachen, und der negativ Aussagen vieler Anderer!!!!!!!!!!!!!!!
Zum Glück denken viele Anlaeger, Investierte die Verstehen Geld zu verdienen,Mich eingeschlossen.
Du solltest dir mal den Geschreibsel vorerst dir einmal durchlesen, bevor Du und viele Ihren Sadt abgeben.
Du kannst ja nicht einmal den langfristigen chart von TSSP interpretieren, sorry, den langfristigen Chart von EFGO.
Also, komm und Hör auf, irgeneinen Schwachsinn zu erzählen, und dies richtig sich auch der Meinungen vieler andereer.Zuest lesen, dann denken "!!
Dieses Posting richtig ricchtet sich besonders an dich limitless und an vieler anderer, die aufgrund von Dumahsogeschülzdenkens in aktien reininvestierten, Namen werden nicht genannt.
Dieses ist auch ein Beispiel, in dem Fall, warum 34% aller Deutsche, durch einege Dumheit, die sich an Auussagen von Limitless und vieler anderer.zum Beispiel, durch Masseninvest viel Geld an der Börsen verlieren.
Hey limitless. Es ist überhaupt kein Stern wert, was dein Posting anbetrifft, zur Deiner Info, Nicht einmal ein Witz.
Einmal zum Nachdenken !!!!!!!!!!!!!!!!!!!!! Für Alle
Hiermit möchte Ich Ihnen eine bislang "noch eine unentdeckte Perle" vorstellen.(Recherchiert und bis dato zusammengefaßt)
Esprit Financial Group Inc. Management Discussion & Analysis
Kennen Sie EFGO?, Wenn nein, dann sollten Sie mal diesen Beitrag lesen, um dahinterzukommen welchesPotenzial hinter dieser Aktie steckt.
EFGO - Esprit Financial Group Inc.
Handelbar an folgenden Börsenplätzen: Frankfurt & USA - Geplant sind u.a. an die OTCBB und London u.a.
Yes they go for $50,000-$300,000 OTCBB for $500,000 and Nasdaq 1.5 mill
These shells are Nadaq qualified BTW! IFGX needs to get a client that has assets to meet Nasdaq rules
EFGO ist IFGX
EFGO and NSS
GVHL and EFGO
Minaco ist based London
LAS VEGAS, Oct. 5 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today that its CEO, Garr Winters, will be returning to China next week for high-level negotiations on several business projects.
Mr. Winters stated: "We have negotiations scheduled on a couple of deals related to our IFGX division. Our China consultant Robert Xu has advised us that we are close to achieving agreements in principal to with two specific companies seeking access to public markets.
Our local legal counsel has recommended a strategy that can significantly shorten the typical time-frame required to achieve our clients' objectives of accessing public markets outside of China. These two projects will hopefully validate this approach, and we will then be in a position to green light a number of similar projects in the pipeline."
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and IFGX Specialized Investment Banking and Financial Advisory Services.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
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Summary:
Esprit Financial Group Inc. (DBA Cash Now ) is a pioneer in the payday loan industry, developing the most comprehensive menu of services in the cash advance industry. The company's proven business model includes licensing its advanced software applications to third parties in Canada, The U.S. and in International markets. Cash Now's Web site is the most advanced payday-lending portal, offering a secure processing ‘vault’ to manage sensitive financial information, as well as credit adjudication and its core license payday loan license program, Payday Express; and a payday loan and check cashing license known as Check Express.
The Company is currently diversifying its product portfolio.
These new initiatives are anticipated to add significant value for the Company’s shareholders. The Company has consistently demonstrated success in marketing its products and driving consumer traffic to its website. The combination of Esprit’s proven marketing expertise in the sub-prime financial services sector, coupled with these innovative new product service offerings, are anticipated to help grow the Company’s overall revenue and profitability.
Our new Forex division is the first new product offering to come on-line. We are confident that this will become a vital contributor of both top-line revenue and bottom line success, based on our innovative positioning in the marketplace.
Another avenue being actively pursued is the EFT+ prepaid debit card service. This "Electronic Wallet" can manage several bank accounts and debit cards and can transfer money between these accounts as well as to remit funds worldwide, including writing checks by an account holder, who may be un-banked. We will continue to develop new business opportunities that trade on our core competencies, while offering a value-added consumer proposition that is defensible in the long run.
We believe our vital core competencies are in Internet delivered financial services to a consumer market. As such, we will look for additional business opportunities that have the following attributes:
- Consumer facing
- Financial Services related
- Internet delivered
Esprit Financial Group Inc. &
Management Discussion & Analysis
Renomiertes Management Team:
Garr Winters
Robert Xu
Peter Presland
Keith Roberts
Peter He
Ron
Nearest description pls. be so kind and see under the attachted list with all biography of a.m. managers of EFGO
A New Area is coming
Summary:
1.) Introduction
2.) Corporate History
3.) Payday Loans
4.) Advanced Electronic Funds Management
5.) Advanced Forex by Cash Now
6.) Management Team
1.)Introduction
Esprit Financial Group Inc. is a public company engaged in a diversified number of
Internet-enabled financial services. There are four independent operating divisions, as
detailed below.
PayDay Loans: www.cashnow.org
The Company is a pioneer in the payday loan industry, and continues to develop the most
comprehensive menu of services in the cash advance industry under the Cash Now brand.
Operations include licensing of a comprehensive suite of Internet-based payday loan and
check cashing software and private label back end office systems for the sub prime
market. The company's proven business model comprises operations in the U.S.,
Australian and Canadian markets.
Advanced Electronic Funds Management:
The Company’s Advanced Electronic Funds Management (AEFM) division offers the
advanced electronic funds management capabilities. Cash Now 21 is an advanced
checking clearing service that can significantly reduced holdback periods by banking
institutions, particularly valuable for international markets. The division also offers stored
value debit and credit cards and will concentrate on developing payroll applications for
clients whose workforce include a significant number of unbanked employees, as well as
funds transfer for consumers who remit funds to family internationally without requiring
that they have a bank account.
Forex: www.cashnow.com
The Company’s Forex Trading division offers an innovative low-cost online Forex
trading service at. The Company acts as an Introducing Broker for Advanced Markets,
Inc., and is targeted to serious day traders. All transactions are handled on a streaming
pass-through basis. There is no trading desk, and no manipulation of quotes that lag the
actual interbank market. Importantly, traders can continue to trade actively even during
volatile periods that result from major news events of publishing of market
reports.Advanced Electronic Funds Management:
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2.)Corporate History
Esprit Financial (previously Cash Now Corporation) was founded in 1998 with a vision
of providing consumers a discreet and secure way to get a payday loan. From years of
experience in the Internet industry, the Company identified an opportunity to apply
Internet technology to the short-term loan business. After intense research, development
and competitive analysis cycle, Esprit Financial was launched.
The company was originally founded as a software developer for the payday loan
industry. By 1999, over 80% of revenue was US based, with growth directly attributed to
the huge demands for small loans, and more importantly, due to the strength and
effectiveness of the Esprit Financial lending system.
Esprit is a pioneer in the payday loan industry, developing the most comprehensive menu
of services in the cash advance industry. The company's proven business model includes
licensing its advanced software applications to third parties in Canada, The U.S. and in
International markets. Cash Now's Web site is the most advanced payday-lending portal,
offering a secure processing ‘vault’ to manage sensitive financial information, as well as
credit adjudication and its core license payday loan license program, Payday Express; and
a payday loan and check cashing
license known as Check Express.
The principals and the key personnel
of Esprit have extensive knowledge in
the payday loan; check cashing,
finance, information and technology
fields, including: e-Commerce and
web-based marketing techniques.
In 2007, the Company began a
diversification program to leverage its
core competencies into new markets.
Efforts have been focused on Internet
delivered financial services to a
consumer market. Key attributes for
this diversification in business
opportunities that have the following
attributes:
- Consumer facing
- Financial Services related
- Internet delivered
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These new initiatives are anticipated to add significant value for the Company’s
shareholders. The Company has consistently demonstrated success in marketing its
products and driving consumer traffic to its website. The combination of Esprit’s proven
marketing expertise in the sub-prime financial services sector, coupled with these
innovative new product service offerings, are anticipated to help grow the Company’s
overall revenue and profitability.
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www.cashnow.org
3.)Payday Loans
Cash Now offers complete
turnkey solutions for Internet
delivered payday loans. The
Company’s products are
licensed to third parties as
standalone businesses.
Revenue is derived from the
initial purchase of the
software, and monthly administrative fees, creating an ongoing revenue stream. These
fees are not royalties, and allow licensees to pursue aggressive growth without being
weighed down by service fees that eat into their margins.
The Cash Now E5 software is an automated underwriting system providing online
decision making for licensees for payday advance sub-prime loans. Designed to automate
and streamline the loan approval process, this software enables consumers who visit
licensee websites to receive immediate on-line preliminary approval of non-conforming
and sub-prime loan applications in minutes.
The Cash Now technology, which is pre-configured to review specific loan parameters,
electronically accesses industry specific consumer Credit Bureau reports for real-time
information. The application is evaluated against a rules-based decision making system
and automated underwriting criteria, which is provided by Cash Now but can be
customized by our Licensees to fit local circumstances. We then provide the customer
with loan approval or denial within minutes. Cash Now’s loan fulfillment and decision
making process is done in such a manner that a borrower will be able to obtain loan
approval with any appropriate underwriting stipulations, subject to final verification,
while connected to the Cash Now or Licensee’s website.
5Industry Overview
Payday Loans is one of the fastest growing
businesses in, not only the United States, but Canada, Australia, England, New Zealand, South Korea and more. The payday advance industry
was virtually non existence in 1990. Today, industry analysts estimate that more than 22,000payday advance locations across the United States
extend about $40 billion in short-term credit tomillions of middle-class households that experience cash-flow shortfalls between paydays.
One of the key driving forces behind the industry’s success is the exiting of traditional financial institutions from the small-denomination, short-term credit market--a change
largely due to its high cost structure and poor profitability from these loans.Due to the mergers and acquisitions transpiring in banking and the passage of new
consumer finance and credit laws, there has never been a better time to enter this industry.
Payday loans are small, short-term loans that help people manage their expenses.
In most situations, obtaining a payday loan works like this:
• The borrower and lender agree on the amount of the loan and the fee for the loan;
• The borrower presents identification (typically two forms, one with a
photograph), the most recent bank statement, and the latest pay stub; all are
typically required to obtain a loan;
• The lender verifies the borrower’s information and makes a decision on the
creditworthiness of the borrower;
• If the risk is acceptable, and the loan is approved, the lender gives the borrower
the cash;
• The borrower writes a personal check for the amount borrowed plus a finance
charge and post-dates the check for his or her next payday;
• On or before payday, the borrower repays the lender in cash, or the lender
deposits the borrower’s check (or makes an authorized electronic withdrawal from
the borrower’s bank account); and
• The typical loan is for around $200 to $300 and usually costs $15 to $20 per $100
borrowed, although the fees can be much greater.
It is also noteworthy that payday lenders do not have the capacity to garnish wages,
collateralize or otherwise secure their business risk; in this regard, payday loans are
unsecured, personal obligations. The industry also does not require an application fee or
prepayment fees, which can occur in other forms of credit. These simplifications have
been part of the reason behind the growth of payday loans.
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Target market
A research survey commissioned by CFSA in 2004 reported - that while younger than
average, payday advance customers are generally middle-income, educated, and look
much like the general U. S. population.
• More than two-thirds (69 percent) of customers have annual household incomes of more than $25,000.
• More than half (52 percent) of customers are middle-income, earning $25,000 to $50,000 a year.
• Forty-one percent of customers own their own home.
• Almost half (49 percent) of households have children under 18; parents are more likely to be married than single.
• Only 15 percent of customers are older than 55, and 5 percent older than 65 (vs. 22 percent and 12 percent, respectively, of the U. S. adult population).
• The majority (61 percent) of customer base is Caucasian.
• More than half (58 percent) of customers have attended college, and one in five (22 percent) has a bachelor’s degree or above.
• Consumers have other financial options available – but payday advance can sometimes be a better financial decision and is quick and convenient.
• Two-thirds of customers have at least one other option that offers quick access to money. (That rises to 85 percent if savings accounts are included.)
• Half of customers have overdraft protection on their checking accounts.
• Fifty percent of customers have a major credit card(s), 35 percent have credit
card(s) with credit available.
In comparison to other credit products with which respondents had recent experience,
customer overall satisfaction with payday advance (75 percent) was second only to check
overdraft protection (83 percent). It also ranked higher than a home equity line of credit
(71 percent), major credit card (70 percent), loan with a bank or credit union (69 percent),
and a car title loan (69 percent).
Most (65 percent) customers cited convenience-related factors (less paperwork 2 percent,
quick and easy process 38 percent, fast approval 10 percent and convenient location 15
percent) as the major reason for choosing a payday advance.
Eighty-five percent of customers surveyed were satisfied with the convenience of the
lenders’ hours and locations, as well as the location’s safety.
Twenty percent of respondents cited comparisons to other financial services and
providers, such as less likelihood to harm their credit, less expensive than other sources
of short-term cash, the lack of revolving debt, greater privacy and more respectful
employees.
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A large majority of customers cited the following reasons for taking a payday advance:
• cover an unexpected expense (84 percent);
• avoid late charges on bills (73 percent);
• avoid bouncing checks (66 percent); and
• bridge a temporary reduction in income (62 percent).
• More than three-quarters of customers were satisfied with the repayment schedule, the amount they could borrow and their ability to refinance or renew if they chose.
Consumers understand the fee and payback structures. Ninety percent of respondents were satisfied with their understanding of the terms and cost of their payday advance,
although just under half (47 percent) were satisfied with the fees.
• Consumers are pleased with the service they receive from lending staff.
• Customers were highly satisfied with all aspects of service received during the payday advance experience (88 percent during application, 85 percent during the
loan term, and 82 percent during the payback or collection period).
• Nine out of 10 customers were satisfied with the courtesy and professionalism of
the lending staff; more than 85 percent with how they were treated during the application process and loan term.
• During collection, 82 percent were satisfied with the frequency of reminder calls and 87 percent were satisfied with the professionalism and courteousness of staff who called.
• Consumers are skeptical of government involvement in payday lending.
• Eighty-six percent don’t want officials limiting the frequency of their loans or monitoring their payday advance records.
PayDay Express
The perfect solution for a home
based Internet payday loan
business without the expense of
operating a retail storefront.
PAYDAY EXPRESS offers
powerful and robust functionality
and features, such as reporting,
exporting data, Trust Vault
integration, electronic funds
transfer (EFT) capabilities and a
Credit Bureau interface feature.
A monthly maintenance fee of $150 is charged to licensees. In addition, a $150 monthly
CSR Trust Vault fee which covers the hosting of licensee websites, technical updates to
payday loan software and website and use of the Company’s sophisticated Trust Vault.
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This is used for logging each daily transaction, accounting, collections, communications
and as a contact management tool.
The feature set includes:
· Payday Loan Software
· Trust Vault Technology
· Customized Website
· Credit Reporting Integration – US Only-Fees Apply
· Credit Report Alliance Access- Cdn Only-Fees Apply
· Administrative Support
· Technical Support
· Training Materials Operating Manuals
· EFT (electronic funds transfer) / ACH (Automated Clearing House) Integration
Check Express
This product builds on the feature set of the Payday Express, but also includes the full
functionality of Cash Now’s booking engine, which provides the Company’s proprietary
credit evaluation software and services. It is designed to service payday loans as well as
offering check cashing services. Again, licensees do not pay any royalties. A $350
monthly maintenance fee and a monthly $150 CSR Trust Vault fee covers the hosting of
websites, technical updates to payday loan and check cashing software and website and
use of our state of the art Trust Vault. The features include:
· Payday Loan Software
· Check Cashing Software
· Trust Vault Technology
· Website with integrated access to the Cash Now booking engine
· Customized Website (no booking engine)
· Credit Reporting Integration – US Only-Fees Apply
· Credit Report Alliance Access- Cdn Only-Fees Apply
· Administrative Support
· Technical Support
· 1 Receipt Printer
· Site Selection & Lease Negotiating Services for brick and mortar locations, if applicable.
· Integrated Money Order system
· Administrative Support
· Training Materials Operating Manuals
· EFT/ACH Integration
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Tust Vault
The Cash Now Trust Vault provides a secure online environment in which sensitive
financial information and transaction data can be held in a secure manner. Loan
processing and consumer information is provided and transacted within this secure vault.
It is designed to be very consumer friendly and extremely simple to use.
Step 1: The consumer registers for an electronic vault ‘key’, by completing a registration
form. If they have already registered for their secure electronic VAULT key, they click
on the "Existing Customers" E-Vault area and log in.
Step 2: Username and password information is entered for vault access to log into their
account.
Step 3: Once inside their VAULT, they can electronically, safely, and securely store their
application in their personal account within the VAULT, and revisit it at any time in the
future. Confidential correspondence from Cash Now will also be stored in their VAULT.
Step 4: The Consumer closes the transaction with the company, and their loan has been
instantly approved and funds will be delivered to them in the manner they requested.
Step 5: Now that they have their own Cash Now VAULT, they can use it as their own
virtual "e-Storage" filing cabinet for all their electronic retrieval service needs.
It’s also ideal for personal use. They can upload pictures, proposals, resumes, and have
their important documents available at their fingertips, regardless of where they are on a
24/7 basis. They log into their secured VAULT, from any computer anywhere in the
world, and retrieve info. Cash Now’s E-VAULT can act as their own personal FTP
device and virtual e-office.
Esprit Financial Proprietary E – 5 Software
Esprit Cash Now PayDay Loan Licensees are offered the exclusive Esprit Financial back
office Intranet reporting area. This is where the Esprit Financial on-line software resides,
and where pending loans can be tracked in real time. In addition, this is where Esprit’s
ticket system, directory and E-5 software resides.
Applications include:
1. "Validity Scale" system: Esprit has developed a proprietary method based on the
way PayDay loan customers answer questions about their loan request. Decisions
are made on an objective scientific basis using sophisticated rules-based analysis.
The Validity Scale works on a beacon system similar to the Equifax or Trans
Union Credit Scoring system, however the Validity System is specific to the
payday loan industry, developed by Esprit Financial for Esprit Financial’s
exclusive use.
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2. The Sentry System: This is software that resides in the Company’s Intranet. It
constantly tunes up, and monitors the customer's application for auxiliary
products. It provides real time tracking of the customer's application for a loan
request. Customer can also be provided real time answers of the status of their
loan application. The Esprit Financial system offers the ultimate in control,
management and integration.
3. The Esprit Financial Database: An "E" based database that all Licensees can
access. The huge advantage of the database is that it offers the ability to rate the
customer, and share information between the Licensees and Esprit headquarters.
Customer’s can also be upgraded to VIP status, which offers them perks to build
customer loyalty and repeat business.
4. ETRACK Real Time Application: A web based application that allows real time
tracking of all transactions and reporting. All customer names and data is stored
and retrieved off-site at the Company’s data storage facility.
Cash Now Contact Information
United States:
TOLL FREE 1-888-224-9641
3155 East Patrick Lane
Suite 1, Las Vegas, NV
89120-3481
USA
Canada:
157 Adelaide Street West
Suite #710
Toronto Ontario
M5H 4E7
Canada
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4.)Advanced Electronic Funds Management
The Company’s Advanced Electronic Funds Management (AEFM) division offers Cash
Now Check 21 - an advanced checking clearing service that can significantly reduced
holdback periods by banking institutions, particularly valuable for international markets.
Other products include stored value debit and Visa cards, and a wholesale ATM program.
www.cashnowcard.com
Stored Value (prepaid) Cards:
Stored Value (Prepaid) cards allow the cardholder the convenience of having an
alternative for cash when paying for such things as groceries, restaurant bills and
gasoline, and when making online purchases – all without the necessity of having a bank
account. The usage of plastic money has grown by leaps and bounds. It is the most
convenient and the safest option to paying by cash.
Cardholders can load money onto their card and then spend it anywhere a debit card is
accepted. Because the money is loaded onto the card in advance, there is no credit risk for
the card suppliers or merchants and ATM machines accepting the card.
The main difference from a consumer perspective between a prepaid debit card and
prepaid Visa card, is that the Visa card will be accepted by merchants at any location that
accepts traditional Visa cards (who may or may not also accept debit cards), and is also
valuable for purchases that require a signature.
For billions of people worldwide who do not have bank accounts a traditional credit or
debit card is not an option. This is quite simply due to the lack of trust in banks and/or
access to facilities especially in rural areas. Prepaid cards offer an ideal solution,
particularly customers who do not have a bank account.
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Market Statistics
• An estimated $117 billion of purchases was made in 2006 using prepaid cards,
including gift cards, payrolls cards and renewable debit cards.
• The Federal Reserve Bank of New York reported in 2004 that the prepaid market
will top $236 Billion by 2009 reflecting a Compound Annual Growth Rate
(CAGR) of 9.37%.
• There are approximately 20 million users in the U.S. and that figure is expected
to more than double to 49 million users by 2008.
• There are four billion unbanked people worldwide
o More than 60% of the overall population in China
o More than 20 % in Brazil
o 45% in South Africa
o 15% in USA.
• An estimated 60 million US consumers are believed to be "unbanked" and earn $1
trillion in annual income, but pay $1.5 billion of that annually in check-cashing
fees.
• Visa debit and prepaid cards represent a fast growing category of Visa payment
products and currently account for more than half of all Visa transactions in the
U.S.
Growth of Stored Value Cards
The first prepaid cards made available to the marketplace were single-purpose or ‘closed-loop’
cards. Gift cards, which can only be used to purchase goods at particular retailers, and prepaid telephone
cards, which can only be used to make telephone calls, are examples of single-purpose cards.
The second type of card to emerge was a multipurpose or ‘open-loop’ card, which can be used to make debit transactions at
a wide variety of retail locations, as well as for other purposes, such as receiving direct
deposits and withdrawing cash from ATMs. Some multipurpose cards are branded by
Visa or MasterCard and can be used wherever those brands are accepted as a debit or
credit card. Experts put this industry in the introductory or early growth stage of the product life
cycle, suggesting that there is substantial growth potential in the years ahead.
As reported by the Federal Reserve Bank of New York in 2004; "Stored value cards are
one of the most dynamic and fastest growing products in the financial industry. Anyone
who makes purchases with a merchant gift card, places phone calls with a prepaid
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telephone card, or buys goods or services with a prepaid debit card is using a stored value
card. Certain types of these cards are being heavily marketed to lower-income consumers,
especially the unbanked or underbanked". Reloadable multipurpose cards are often viewed as alternatives to checking accounts.
Among stored value cards, reloadable multipurpose cards most closely resemble traditional deposit account debit cards in functionality and are thus most likely to meet
the needs of the unbanked or underbanked. Consumers not only can use these cards to
make payments to a wide variety of merchants and service providers but also can reload
them with additional funds. The ways in which cards can be reloaded vary but may
include direct deposit, money wire transfer, money order, or cash presentment at
designated retail locations such as convenience stores.
Cash Now Prepaid Debit and Credit Cards
Esprit is developing a line of prepaid cards in conjunction with domestic and foreign
based banks. The Company will offer both debit as well as branded prepaid credit cards.
The Company intends to concentrate on only market niches, that it feels have unique
needs for which tailored solutions can be very advantageous;
• Foreign remittance
• Merchant Marine Payroll
• MLM Commission payments
Foreign Remittance is a very significant niche market. The product concept is based
on the issuance of two cards. The primary card is
typically issued to a family or group member who is the primary wage earner. A partner
card is mailed internationally to family overseas. The primary wage earner will load their
card via payroll, Internet banking or other method. They can then transfer funds to the
secondary card held by group members in the home country. Remittances from overseas
foreign workers in the U.S. are believed to run over $20 billion to Mexico, and $12
billion to the Philippines alone. Esprit will concentrate on payroll applications with large
numbers of migrant workers, and affiliations or groups whose membership has a large
percentage of overseas foreign workers.
Merchant Marine Payroll is a specialized niche that Esprit believes it can develop into a
significant profit center. Most international shipping vessels have a crew of sailors who
are paid in cash – typically U.S. dollars - in International Waters. During shore leave,
crew members are often required to pay exorbitant amounts to change their U.S. dollars
into local currency at merchants in close proximity to their ship, making purchases very
expensive. Normal banking activities most people take for granted are also problematic,
as transferring funds to family members internationally is expensive and cumbersome.
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Esprit, in conjunction with its strategic partners, will offer an effective alternative that
will greatly benefit crew members. The cruise ship company will load cash value onto a
branded stored value debit card. The card will be accepted wherever MasterCard credit
cards are accepted. Additionally, funds can be transferred internationally to family
members easily via card to card transfers. These stored-value debit cards look like a typical
credit card, and benefit from the
universal acceptance provided by Visa or Mastercard. However, they carry only the
stored-value of cash that has been loaded onto the card by the cruise line. There is no
credit agreement or monthly billing. The dollar value available is stored on the card, and
is depleted as purchases are made. These cards will be accepted at nearly every
international destination. Modern cruise ships often have more crew members than
passengers, and the largest
ships can accommodate over 3,000 passengers. With several hundred cruise ships
worldwide, this represents an attractive market for Esprit. The overall merchant marine market
also includes sailors on cargo ships, who face the
same dilemma as those on cruise ships. According to the 2005 CIA World Factbook, the
world total number of large merchant ships (1,000 Gross Register Tons) is over 30,000.
This represents a very significant market sector where Esprit can enjoy a ‘first mover’
advantage".
Multi-Level-Marketing (MLM) companies have a unique set of problems distributing
commission payments. Typically, a well established MLM operation can have thousands
of members. The usual 80%-20% applies regarding sales by the entire organization.
Consequently, there is a large number of small payment checks issued each pay period.
A branded debit or credit card payment process can save these organizations thousands of
dollars. These companies can now distribute a branded debit or credit card to all the
members in the organization’s ‘downline’, and load each card with the correct payment
online. The reduction in mailing costs is accompanied by a benefit to the MLM
members, who will now receive funds instantaneously and no longer need to wait for and
then deposit commission checks.
Product Benefits
There are numerous benefits to the prepaid card concept. These include:
• Accessibility - There are no credit checks, which means consumers can get a card
without worrying about credit history or lack of documentation. If you want one,
you can get one.
• Safety – For online or phone purchases, if your card is used fraudulently you can
get your money back. Also, carrying a card can be safer than carrying cash, which
can be particularly appealing for children.
• Control - prepaid cards are an ideal way to control the spending of children and
employees. Like a credit card you get a full breakdown of spending on the card so
you can see what has been purchased, who from and when.
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• No debt risk -With a prepaid card there is no chance of spending too much as you
are limited to the amount you put on your card.
• Travel - As well as being able to top up the card, depending on the specific
provider, cardholders can use it at ATMs worldwide. Additionally, if the card is
lost, cardholders can contact the Company and a new replacement will be sent.
• Additionally, the Company will offer aggressively low foreign exchange fees.
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Stored Value (prepaid) Cards:
There are approximately 42 billion checks written in the United States each year, and the
average commercial check's face value is over $1,000. Cash Now 21 is a check clearing
service utilizing the advantages and benefits of U.S. Federal Reserve Bank’s Check 21
guidelines and infrastructures. As of mid-2007, most banks physically move original
paper checks from the bank where the checks are deposited to the bank that pays them.
This transportation can be inefficient and costly.
"Check 21" (Check Clearing for the 21st Century Act) is a U.S. federal law that became
effective on October 28, 2004. It is designed to enable banks to handle more checks
electronically, which should make check processing faster and more efficient.
Under Check 21, banks can capture a picture of the front and back of the check along
with the associated payment information and transmit this information electronically
Front and Back view of a substitute check (Source: Federal Reserve)
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Overview of Check 21 Operations
1. Remote capture and deposit scanners scan the front and back of checks submitted
for processing. This can be done at the bank level, or a scanning device can be
obtained by the vendor receiving checks for payment.
2. The data is sent via secured Internet connection to the Check 21 processing bank
where merchant data is analyzed and stored within a large database.
3. It then goes to the Federal Reserve for clearing.
4. The Federal Reserve then sends payment instructions to the paying banks.
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Check 21 Bank Processing Benefits
There are a number of benefits to this approach, but the most visible improvement to
bank customers depositing checks is the increased speed with which their checks can be
cleared. Generally, 80% of the funds deposited are available the morning of the next
banking day, and funds are completely cleared within 48 hours.
Currently, most banks physically move original the paper checks through clearing
services and banks on which the funds are drawn. A typical check is handled a
staggering average of 19 times. There are 42 billion checks written in the U.S. annually.
The check 21 service is of obvious interest to Financial Institutions.
Financial institutions are embracing check imaging as a way to:
• Reduce operating expenses – Costs, such as transportation costs, processing costs,
infrastructure costs, hardware maintenance, supplies and labor resources, check
storage expenses, and sorting time.
• Accelerate settlements and reduce check floats
• Reduce errors - A check is typically handled on an average of 19 times.
• Reduce fraud risks – That are associated with physically processing the original checks.
• Reduce research and adjustment times and efforts.
Check 21 Benefits to Businesses
With Check 21 and its associated digital image and information capturing, businesses
accepting the checks or cashing the checks can enjoy the following general benefits:
• Checks get cleared and funds available faster – Typically, most funds will be
available on the next business day. This benefit accelerates the cash flow by
decreasing accounts receivables.
• Minimized processing of paper checks – This is even before the checks get into
the banking system. There would be less hassles and savings from: No more
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sorting of checks; adding the checks up; filling out deposit slips; deposit slip
errors.
• Consolidation of bank depository accounts at different regions and savings on
wire transfer fees – This is especially true for many geographically distributed
company operations and financial institutions.
• No more transport of checks - No more trips to the banks, or armored car or
express mail transport of the checks.
• Minimized manual entry of check data - If the businesses turn the checks into
digital images and data as soon as they got the checks, then check information can
enter into the accounting and receivable systems without manual entry.
• Extends Business Day cutoff time to 8:00 PM U.S. EST
• Much lower incidents of "Charge Backs" - Check 21 is not governed by ACH and
credit card rules. Unlike credit card and ACH, the customer must prove the charge
was unauthorized by filing out an affidavit.
• Remote offices can make same-day deposits. – There is no need to wait for a
batch of checks to be collected before transporting the checks for the deposits.
• Images archived on secure servers can be instantly retrieved anywhere.
• Lower deposit fees, lower return fees, and lower re-deposit fees.
• Built-in reporting options - That generally include: Consolidated deposit reports,
Returns Reports and Large Items Reports.
Benefits of Check 21 in Foreign Markets
The international check clearing market represents huge potential for growth. While
Check 21 is being increasingly adopted in the United States, it is quite a new concept
internationally. Checks drawn on a U.S. Account, for deposit in international markets
often take 30-45 days to clear, and sometimes even longer. Esprit’s Cash Now 21
reduces the clearance time to a mere 3 business days or less.
For foreign markets such as Asia and South America that have significant funds flow
back and forth from the U.S., this becomes an invaluable asset. Esprit is intent on being
first to market with as non-financial institution to offer this service.
Initial rollout of services is slated for the Chinese markets. There is very significant
latent demand for this service and we have received an overwhelming response from
20
preliminary discussions with Chinese banks for our service. Most Chinese banks handle
significant numbers of U.S. denominated checks, whether payroll checks for U.S. citizens
working in China, or for export related payments to international destinations.
Importantly, U.S. dollars are commonly designated for most international transactions,
regardless of the actual importing country. To date, a total of approximately 30 banks
have expressed interest in our ‘Check 21’ services. ‘Cash Now 21’ will help
revolutionize the way U.S. dollar-denominated checks are processed and cleared.
Management believes that the necessary infrastructure can be in place and operations
scaled up to deliver revenue for the latter part of the current year. This is a scalable
business model that with revenue directly variable to as we continue to expand the
customer base of participating banks and merchants, and other international markets.
We are now currently developing our website for Advanced Electronic Funds
Management and expect to launch it in the third quarter.
ATM Wholesale Programs
Esprit provides ATMs at wholesale prices to retail distributors or Independent Sales
Operators (ISOs). The Company offers ATMS with packaged software ready for easy
deployment. If required Esprit will also provide turnkey systems complete with
processing capabilities through its own providers.
Esprit has recently improved its access to manufacturing capabilities in China and can
aggressively compete at the wholesale level, offering significant savings to companies
focussed on developing private ATM retail network deployment.
Esprit’s positioning is based on value; offering
competitive products at lower prices than
traditionally available to smaller private
network operators. With the ATM market
rapidly maturing, it is split between high-end
machines with advanced software capabilities
and basic units that can be deployed quickly
and easily. The ATM units offered by Esprit
are essentially ‘plug and play’. With the
increasingly open standards of ATM related
software, Esprit believes that in the longer
21
term it will also focus on becoming a VAR (value added retailer) of different software
solutions, which plays to its traditional expertise in Internet enabled financial solutions.
Esprit aims to take advantage of the fact that the industry move from OS/2 to Windows,
as the default software platform of choice, has facilitated change by opening standards
and levelling playing fields. No longer locked by proprietary protocols and platforms,
financial institutions large and small are leveraging their options to achieve best-of-breed
solutions for their ATM needs.
Size of Market
The ATM industry has mushroomed with rapid growth, surprisingly being fuelled by
private label industry participants rather than traditional Banking institutions. For the
most part, ATMs in high traffic or high volume retail locations are most commonly
serviced by private ATM operators - convenience store locations, race tracks and casinos
are typical highly valued real estate.
The United States now has the largest ATM market, with nearly 400,000 units deployed.
Worldwide, it is estimated that ATM deployment has reached 1.5 million units,
generating approximately $14 billion per annum, and growing at a healthy clip.
Growth of Market
While the North American market has matured, it is still expected to grow at a steady rate
of 3% over the next decade. At present, USA, Japan, Brazil and China account for half of
the worldwide ATM installations. Though by 2011, their share is predicted to drop to
45%. Globally there are 1.5 million ATMs and this is expected to nearly double by
2011. Most of the growth is expected to be seen in Asia Pacific, Central and Eastern
Europe and the Middle East and Africa.Interestingly, the traditional
placement of ATMs in bank branches has seen a decrease.
The share of off-site ATMs worldwide has increased from
38% in 2003 to 45% in 2005, largely as a result of lower cost
machines, and an increasing number of independent deployers in some countries.
In fact off-site terminals in the USA
and Canada represent over 40% of all non-branch ATMs worldwide. As a result, in the
22
last couple of years, ISOs (Independent Service Operators) have averaged double digit
growth year on year. And this momentum is expected to keep up.
Currently, ISOs account for almost half of all ATM placements in the US though they
represent only 10% of the industry’s estimated total ATM transaction volume amounting
to US $ 8 billion. Here is an area that can be developed and with demand for fee-free
access to ATMs, ISOs now have the opportunity to partner with financial institutions and
EFT networks, which will help diversify revenue streams and maintain transaction levels.
Global Statistics
ƒ Increase of 95,000 ATMs
worldwide in 2005, to
over 1.5 million
installations to date
ƒ Global ATM market to
reach two million
installations by 2011
ƒ Asia-Pacific reclaims
position as largest ATM
region
ƒ ATMs in Central and
Eastern Europe (CEE)
and Middle East &
Africa (ME&A) to more
than double by 2011
ƒ USA, Japan, Brazil and
China account for half the global ATM market
ƒ Off-site share reaches 45%, up from 38% in 2003
ƒ 245,000 ATM shipments per year to 2011.
ƒ The worldwide ATM market is increasing at a gradually slowing pace, from
10% (and 118,000 new installations) in 2001 to 6.5% in 2005.
ƒ According to forecasts annual growth in the installed ATM base will continue to
slow down to 3% (and 56,000 new installations) by 2011
ƒ Asia-Pacific is now the largest regional ATM market with 31% (476,000 ATMs)
of the global total, having recently overtaken North America (29%).
ƒ Western Europe, where five countries (the UK, Spain, Germany, France and
Italy) account for more than three quarters of ATMs, is the third largest region.
ƒ There is a large gap to the three smallest regional markets. Latin America has
174,000 machines, CEE 76,000 and ME&A 39,000.
ƒ While the annual growth rate has fallen to less than 10% in most regions, it is still
in double figures in CEE and ME&A. These two regions saw growth in their
respective installed ATM bases of 28% and 19% in 2005.
ƒ The ATM markets of CEE and ME&A are expected to grow by 130% and 120%
by 2011.
23
Consumer profile
9 The typical ATM customer will spend 20-25% more than a non-ATM customer in your location
9 The largest portion of regular ATM users (40%) visit an average of 10 times a month Placement of an
ATM machine is the
second most requested
service for retail stores
9 ATM users are "habit"- driven, using the same ATM repeatedly
9 ATM customers prefer the convenience of a retail store to a bank
9 60% of Americans between the ages of 25 and 34 and 51% between 35 and 49, use ATMs eight (8) times a month
9 The typical ATM user visits an ATM an average of 7.4 times per month
9 The average amount of money withdrawn is $60.45 with $20 being the most common withdrawal
9 The most popular day for ATM usage is Friday 9 Americans cite 24-hour access as the most beneficial feature for ATM usage
9 Half of all adult Americans use ATMs regularly, with younger Americans and those with high incomes using them most often
9 Overall, 60% of those making over $40,000 a year use ATMs, while only 30% of Americans making less than $20,000 a year use them
ƒ In CEE, this growth is primarily due to large increases in the Ukraine, Romania and particularly Russia.
ƒ In ME&A, Egypt, Iran, Israel and Saudi Arabia are all expected to grow strongly.
ƒ Asia-Pacific will show the largest absolute growth over the next six years, with the addition of 165,500 terminals (a 35% increase).
USA Statistics
ƒ 394,500 (29% of the global total) located in the USA
ƒ ATM growth is 3% annually
ƒ Non bank Independent Sales Organisations (ISOs) continue to deploy ATM terminals though growth rate is declining
ƒ Number of FI operated ATMs has declined over the past two years
ƒ The ISO industry which was fragment will continue toward massive consolidation
ƒ In the US FIs on premise ATMs currently average 3,651 transactions per ATM per month compared to 1,807 for their off-premise machines
ƒ ISO ATMs recorded 329 transactions per month
ƒ US ATM totaled 8 billion transactions per year – dispensing $600 billion in Cash
ƒ ISOs account for almost half of all ATM placements in the US, but have only 10% of the industry’s total transaction volume
China Statistics
ƒ Gross revenue per transaction within China is currently 7.5 times higher than mature markets like North America. A typical ATM transaction in China generates roughly
USD $3.00 in revenue, versus roughly USD $0.40 in
North America in interchange fees alone.
ƒ Current estimates place the number of ATMs in China at roughly 10,000. Industry forecasts suggest that this will grow to 1 million over the next 5 – 7 years 24
Benefits to ATM providers
9 Increase in Sales - Studies show that an ATM can increase in-store sales by as much as 8%. Higher average transactions are a result of customers having direct
access to a convenient and safe source of funds. A customer with an ATM card
has immediate access to more funds then an average customer
9 Cash Retention – You are the beginning of a purchase cycle. According to studies 25% of the cash withdrawn from an ATM is spent on the premises itself.
This number can go up as high as 75% for nightclubs and bars!
9 Control over Bad Debt. - Cash does not bounce. When a customer uses cash from an ATM it cuts down the charge backs, disputes, returned checks, and the
stress associated with these incidents.
9 Added Security. By having an ATM there is less risk of robbery and employee theft.
9 Reduce credit card costs - By directing the customer to the ATM, you can greatly reduce the credit card fees you currently pay. Credit card transactions cost
between 2% and 3% of a purchase. Instead of paying Visa and MasterCard, make money instead when a customer withdraws cash.
9 A time saver - An ATM can save customer embarrassment and the employees’ time. An ATM also deposits funds directly into your bank account, which saves
time and work.
9 Improve in overall Image. By providing new and unique services for your patrons, your image is
improved. One reason people patronize your store is value. An ATM only adds to the overall value to your store. Customers appreciate the convenience
provided by an ATM located within businesses they frequent.
9 Increase in Customers and loyalty - Your customers will no longer need to stop
at a competitor's establishment to get cash (and spend it there). Customers will instead stop at your place of business because you can accommodate their cash
needs.
25
9 Added Source of Revenue. With surcharge fees, you can earn more then enough to cover the cost of the ATM. The real profit comes from the additional sales from
the hundreds of extra dollars available in your customer's pocket.
26
5.)Advanced Forex by Cash Now
Esprit’s Advanced Forex by Cash Now is an introductory broker providing 24 hour
access to a sophisticated trading platform, directly linked to the Interbank clearing
systems, for active day traders. Heading the division is Peter Presland based at the
Company’s Florida office.
Esprit is a member of National Future Association (NFA), the industry-wide, selfregulatory
organization for the U.S. futures industry. It is the premier independent
provider of efficient and innovative regulatory programs that safeguard the integrity of
the derivatives markets. The next move towards consolidating and improving the
operations of the Forex division will be the series 3 licence which the company is on
track to receive in the near term.
With the Series 3 licence, Esprit will be qualified as a broker- dealer for Forex trading,
which will provide the additional vertical integration that has been a stated objective of
the Company. And, as a licensed series 3 broker-dealer, the Company will have
additional revenue opportunities currently not available to it as an Introducing Broker.
The Introducing Broker
Esprit’s Advanced Forex has an Introducing
Broker agreement with Advanced Markets,
which provides access to a trading platform
originally designed for large clients with
active accounts of $100 million or more.
The platform provided by Advanced Forex
to individual day traders is powerful and
sophisticated, directly linked to the
Interbank clearing system. There is no third party software sitting on top of this program.
There are no dealing desks. The service operates as a true pass-through trading
environment.
27
Advanced Forex works on a revenue sharing agreement with Advanced Markets. Traffic
to the trading site will be driven by Cash Now which has a proven track record in this
regard and create a client base of active traders. In addition, the large number of day
traders who have been following Esprit’s developments in this area will now have access
to the service.
Through its licensor, Advanced Forex offers 24-hr Forex trading within an environment
that is free from manipulation, skuing and other industry practices typical of brokerdealers
who have their own intermediary software between the consumer and the
Interbank Clearing System.
The trading platform provides free charting, streaming news, hedging, entry, limit,
traditional and trailing stop order capabilities. There are no dealing desks, and Advanced
Forex Cash Now operates as a true pass-through broker. The objective is to attract
experienced day traders who are looking for a transparent trading environment free of
manipulation.
Products
• Win Trader Mini Account
Win Trader shows fixed 2 pips spreads on all major currency
pairs. This is best suited for mini account holders and is an
extremely easy platform to trade from. In a mini account,
the lot or contract sizes that are traded are 10,000 of the base
currency, whereas for a regular
Forex account, the lot sizes are 100,000; in other words, the
mini Forex contract is 1/10th the size of the standard
contracts. Traders that want to trade with less than $10,000 are better off opening a mini Forex
account. This will not only give a trader more flexibility in the implementation of
different strategies, it will also give him more staying power in the Forex market
since he could take advantage of multiple trades without over-leveraging his trading
account. With a mini account, you will enjoy many of the same benefits as with a
regular Forex account, such as a free trading platform, small spreads, etc.
Hedging is also available along with trailing stops and limit orders. Minimum
required is $500.00 to open an account. Size: $ 10,000 lot.
28
• Advanced Trader Account
Here the spreads are between 2.5 and 3.5 pips on all major currency pairs. Instant
executions on all stops, fills and limit orders up to 3 million. Trading can be executed
directly on AAA rated charts hosted within the platform. Professional traders that are
coming from other markets want to have every advantage possible. Advanced Trader
account system gives high volume traders access to small forex spreads (as low as 2.5
pips on all major currencies) to improve their chances of succeeding in the currency
market. This system is available only to customers that maintain a relatively high
monthly trading volume. It combines true Interbank dealing spreads with our award
winning trading software. Market orders are filled instantaneously at the requested rate,
with no manual dealer intervention and no slippage. This is extremely important to those
who are trading at a professional level and/or want quality executions. Non-market forex
orders can also be left inside the dealing spread. Furthermore, there are no restrictions on
leaving orders during times of high volatility or before important economic news or
announcements.
Advanced Trader customers are also entitled to a wide range of exclusive services, such
as:
• Dedicated personal forex account executive
• Priority phone access to the 24-hour FX trading desk
• Early access to daily and weekly research reports published by an in-house team
of forex analysts
• Free wires (outbound)
Minimum required $ 5,000 to trade on this platform. Size: $ 50,000 lot.
Features
• Powerful Leverage
Advanced Forex offers a 100:1 leverage for all clients, with the ability to reduce
leverage upon request. Leverage is what makes Forex attractive. Trading Forex is
done in currency "lots". Each lot controls 10,000 US dollars worth of a foreign
currency. An account is set up to hold money in which profits will be deposited and
losses will be deducted. Those deposits and deductions are done when exiting a
position. Note: Leverage works both ways. Loses are magnified by margins just as
much as gains.
• Zero Commissions
Because you access the market electronically, you pay zero commissions, zero
exchange fees, and only $0.625 transaction fee. (per side and per 10,000 base
currency). This translates to $1.25 for a round-trip transaction to open and close a
position ($5.00 roundtrip for the Advanced Trader platform).
29
nterbank market The
raditional foreign exchange market is made up of commercial
nd investment banks and other inancial institutions on the OTC
market. These major dealer banks have developed into an Interbank
market for foreign exchange hrough their frequent dealings
with each other in an effort to find uyers and sellers of currency.
There are more than 2,000 dealer nstitutions worldwide.
Dealers Dealing companies are mainly commercial and
nvestment banks which trade mongst themselves based on
trong credit relationships as part f their system of balancing
ccounts. Latest available data hows that inter-dealer trading
enerated 53% of foreign xchange activity in April 2004,
down from 59% in 2001. The majority of foreign exchange
rading involves large banks.
Brokers The role of a broker in he Interbank market is to bring
ogether a buyer and a seller of a urrency in return for a
ommission. Whereas a dealer may take one side of a transaction
nd commit their own capital, a roker does not take a position
nd relies purely on the ommission received for the
ervices provided. The share of usiness conducted through
rokers varies in different ountries due to differences in
market structure and ranges from 0-15% in Switzerland and South
Africa to around 50% in France, Netherlands and Ireland.
Clients of banks on the interbank market generated 47% of foreign
xchange turnover in the 2004 ccording to surveys conducted.
Out of the overall, financial ustomers account for 33% and
non-financial customers 14%. Clients include corporations, fund
managers, individuals and central anks.
• Limited Risk
With Advanced Forex your risk is strictly limited.
You can never lose more than you have in your
account. This means you can never have a negative
equity balance. You can also define and attempt to
limit your risk with stop-loss for fast moving markets.
In the event that funds in your account fall below
margin requirements, the trading station will close all
open positions. This prevents your account from ever
falling into a negative equity position even in a highly
volatile, fast-moving market.
• Instantaneous Fills
Obtain instantaneous execution and total price
certainty on all orders under US $5 million. This
allows you to trade with confidence off real-time,
interbank quotes provided by.
• Tight pip spreads
Yes, tight pip spreads are a good thing, as long as
they correlate to the interbank market. Because all
trades are executed automatically on a pass-through
basis, our pip spreads are not artificially manipulated.
Brokers can legally say no slippage when advertising,
because they are the market maker.
• Trade During News or Related Market
Reports
When major reports or world events wreak temporary
havoc with the forex, most brokers will delay
transactions to protect themselves on your trades.
That's because they are exposed to the volatility
themselves, if they quote a rate and can't execute the
trade profitably. Because Advanced Forex executes
all trades on a strictly pass-through basis, there is no
exposure due to slippage. There are no interruptions
in trade executions, and the trading platform has a
99.99% uptime track record.
30
Central Bank Rates
5.25%
3.75%
0.50%
5.25%
2.30%
4.25%
6.25%
7.50%
• 24 Hour Market
Forex is a 24-hour-a-day market that trades from approximately 5pm(EST) on
Sunday to Approximately 5pm(EST) on Friday.
• Interest Rollover Policy
At 5pm New York Time (EST.) funds are added or subtracted to accounts with open
positions. See account documents for more details.
Industry Overview
The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest
financial market in the world, with a daily average turnover of US$1.9 trillion — 30 times
larger than the combined volume of all U.S. equity markets. "Foreign Exchange" is the
simultaneous buying of one currency and selling of another. Currencies are traded in pairs,
for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
About 5% of daily turnover is from companies and governments that buy or sell products
and services in a foreign country or must convert profits made in foreign currencies
into their domestic currency. The other 95% is trading for profit, or
speculation. For speculators, the best trading opportunities are with the most
commonly traded (and therefore most liquid) currencies, called "the Majors."
Today, more than 85% of all daily transactions involve trading of the Majors,
which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian
Dollar and Australian Dollar.
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the
globe as the business day begins in each financial center, first to Tokyo, London, and New
York. Unlike any other financial market, investors can respond to currency fluctuations
caused by economic, social and political events at the time they occur - day or night.
The FX market is considered an Over The Counter (OTC) or 'interbank' market, due to the
fact that transactions are conducted between two counterparts over the telephone or via an
electronic network. Trading is not centralized on an exchange, as with the stock and futures
markets.
31
Leverage
While up to 4:1 leverage is available in equities and 20:1 in Futures, it is common to have
100:1 leverage in currencies; some Forex market makers offer up to 400:1. In the typical
100:1 scenario, the client absorbs all risks associated with controlling a position 100 times
the capital they are putting up, and, given that the money is only being used for currency
exchange and on the market makers’ books, the transaction can proceed.
Size of the Market
The foreign exchange market is the largest and most liquid financial market in the
world. The rapid growth in the volume of foreign exchange turnover over the past two
decades reflects the continuing growth of international trade and expansion in global
finance and investment. The UK, and London in particular, is by far the largest
global market for foreign exchange trading, well ahead of the US and Japan.
Average daily global turnover in traditional foreign exchange market transactions
totalled $2.7 trillion in April 2006 according to estimates based on semiannual
London, New York, Tokyo and Singapore Foreign Exchange Committee
data. Overall turnover, including nontraditional foreign exchange derivatives
and products traded on exchanges, averaged around $2.9 trillion a day. This was more than
ten times the size of the combined daily turnover on all the world’s equity markets.
Growth of the Market
According to research from Towergroup, average volumes are expected to exceed $3
trillion by 2007 with more than 44% of transactional volume coming from electronic
trading. Foreign exchange trading increased by 37% between April 2005 and April 2006
and has more than doubled since 2001. This is largely due to the growing importance of
foreign exchange as an asset class and an increase in fund management assets, particularly
of hedge funds and pension funds. The diverse selection of execution venues such as
internet trading platforms has also made it easier for retail traders to trade in the foreign
exchange market. Traditional foreign exchange instruments which include spot
transactions, outright forwards and foreign exchange swaps accounted for 92.1% of global
turnover in April 2006. Currency swaps and foreign exchange options generated the
remainder.
32
Main Trading Currencies
The US dollar is by far the most widely traded currency. This is because of its multiple
roles: as an investment currency in many capital markets; a reserve currency for many
central banks; a transaction currency in many international commodity markets; and an
invoice currency in many contracts. The euro, yen and pound are the next
most traded currencies. US dollar/euro was the most widely traded currency pair in April
2006 with 30% of overall turnover slightly up on its share two years earlier (Chart 5). US
dollar/yen was the next most traded currency pair, generating 19% of turnover followed by
US dollar/pound sterling with 11%. Latest available data shows that emerging market
currencies accounted for around 5% of market turnover in April 2004. Their share has
grown in recent years as they offer potential for higher profits although the risks involved
are generally higher.
Market Participants
95% of trading is retail and by speculators while governments and FIs constitute merely 5% of
the players. Foreign exchange traders include governments, commercial and investment banks,
international corporations, fund managers and hedge funds and individual private investors and
speculators.,
While Forex has been traded since the beginning of financial markets, modern retail trading has
only been around since about 1996. Currently there is only 2% participation in the Forex
trading market and this is slated for a tremendous growth as continuous developments
in web-based technology have made retail Forex trading practical.
Online trading platforms now provide a quick and easy way for individuals to buy and sell on the Forex
Spot market. As the technology continues to improve, the opportunities in Forex trading will grow
phenomenally as more and more people grow familiar with the online trading systems and tools.
33
Management believes that the growth curve of retail forex trading will follow a similar
pattern to online discount stock brokerages. Currently, the early adopters and novices
using automated trading software to signal trading opportunities are in the market. As
trading platform software continues to evolve and become easier to use, more traders will
enter the market. A service industry will develop providing insights, key intelligence and
analysis tools to traders. We expect very dynamic growth in the market, and can easily see
it double to 4% within the next 18 – 24 months.
6.)Management TeamWrs, Chief Executive Officer
Garr Winters has more than 30 years of experience with bottom-line responsibility across
a wide variety of industries. He initially started out as a remarkably successful operator
at Expo 67 in Montreal, Quebec. In his long and successful career, Garr has also built a
domestic manufacturing and import travelware group, and took a leadership role within
the international satellite sales and marketing sector. His successes include developing
adult vocational training programs with both the Ontario Provincial and Canadian Federal
governments. His worldwide business experience and knowledge of many industries
have translated into an exemplary network of associates that will directly benefit the
Company.
Robert Xu, Director Asian Financial Services
A veteran of information technology industries, Robert Xu spent most of his career as an
IT technology professional in the United States. In 1997, he was a System Information
Analyst with CSCEC-US, Inc. in New York, where he was responsible of developing
application software package of Real Estate Management System using SQL6.5, VB and
ASP. Since 1999, Mr. Xu demonstrated his entrepreneurship and founded a NASDAQ
listed company, ChinaMallUSA.com, Inc, together with a few partners. He assumed the
role of Chief Technology Officer and was in charge of R&D, system development and
implementation, and strategic management.
Peter Presland, COO Forex Trading Division
Peter Presland has a long and proven track record in developing companies from start-up
to financial success. He has over 35 years experience, covering the entire gamut of sales
and marketing to managing his own business enterprises. Peter brings extensive
knowledge of various core business practices. Over the past several years he has focused
on Forex trading to develop and establish key trading skills and strategies. He will be an
asset in furthering the Company’s success story.
Peter has a degree in Business Administration from London, England. He immigrated to
the United States of America in 1969.
34
Keith Roberts, CMA – Chief Financial Officer, Director
Keith Roberts received his Bachelor of Mathematics Degree from the University of
Waterloo (Waterloo, Ontario). For the past twenty years, he has provided accounting and
administrative systems and services to both corporate and institutional clients. Mr.
Roberts has held senior accounting positions with a number of high tech companies
including NCR/AT&T Canada and Prime Computers. He founded his own accounting
practice in 1994 and, for the past six years, has provided financial services to a diverse
group of industrial clients, including those in the media and communications industries.
Peter He – Chief Technology Officer
Peter He has over 10 years’ experience in software development. His technical strengths
include J2EE WebSphere and DB2 application design and development skills, strong
computer programming skills, and strong problem-solving ability. He is proficient in
Java, C++/C, JDBC, SQLJ, Enterprise JavaBeans (EJB), JavaBean, Java Servlet,
JavaServer Pages (JSP), Jakarta Struts, JavaScript, SQL, PL/SQL, Web Services, ASP,
Pascal, CGI, UML, XML, and HTML. Peter received his Ph.D. from York University in
1998. His other trainings include DB2 Certified Solutions Expert and WebSphere 602
Advanced Administration Training Certification.
Ron Macari – Network Operations, Web Development
Ron has over 7 years of experience in the computing field including extensive industry
and academic experience. He has earned a BCOM from Ryerson University and has
various diplomas from business and E-Commerce. He has delivered professional business
solutions in mission critical applications and backend data management. Ron is
responsible for the entire Technical Department and is deeply involved in the
maintenance and management of the entire IT structure for the Esprit Financial Group of
companies.
http://investorshub.advfn.com/board...p?board_id=6529
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Quarterly Report Jun 30, 2007 Aug 14, 2007
Articles of Incorporation Jul 31, 2007 Aug 3, 2007
Corporate Bylaws Jul 31, 2007 Aug 1, 2007
Attorney Letter with Respect to Current Information Jul 31, 2007 Aug 1, 2007
Management Discussion and Analysis Jul 31, 2007 Jul 31, 2007
Quarterly Report Mar 31, 2007 Jul 6, 2007
Annual Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Dec 31, 2006 Feb 13, 2007
Quarterly Report Sep 30, 2006 Dec 14, 2006
Quarterly Report Jun 30, 2006 Aug 16, 2006
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LAS VEGAS, Sept 12, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK)
www.espritfinancialgroup.com is pleased to announce that it has signed a new licensing agreement of its PayDay Loan Software system for the Indiana regional district.
Garr Winters, Esprit CEO, commented, "There's been a lot of focus on developments in Asia recently. However, it is business as usual for the PayDay loan team. We anticipate additional announcements of new PayDay loan business throughout North America in the coming weeks and months.
Winters added, "There are some business developments and travel plans being finalized this week, vis-a-vis our previously announced expansions. We plan on providing a status update for the Company's activities by middle of next week."
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and Online Structured Debt Resolution.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
Copyright (C) 2007 PR Newswire. All rights reserved
LAS VEGAS, Sept 17, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has signed a new licensing agreement of its PayDay Loan Software system to an independent Florida based company.
This is the second new license agreement within the last two weeks.
Garr Winters, Esprit CEO noted, "Our PayDay loan business continues to demonstrate growth and contribute to our financial results. There are additional license contracts in the pipeline under negotiation."
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division, Forex Trading, Advanced Electronic Funds Management, and Online Structured Debt Resolution.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
Copyright (C) 2007 PR Newswire. All rights reserved
LAS VEGAS, Sept 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it will begin testing its Check 21 service for the Chinese market.
The tests will use live data - processing actual U.S. dollar denominated checks for deposit in China.
Based on successful test results, the Company will immediately begin rolling out the service to China based clients. Robert Xu, a consultant to Esprit's Advanced Electronic Funds Management (AEFM) division will be supervising the tests. He departs for China today and will be continuing work on various projects currently in the pipeline, in addition to the Check 21 tests.
Esprit CEO Garr Winters stated, "This is an announcement that may well have profound impact on Esprit moving forward. We have been working towards this business milestone for several months. It has taken a little longer to get here than we would have liked, but we are very bullish that the tests will prove the soundness of our strategic approach as well as the capabilities of our Check 21 processors."
Winters added in closing, "As incredible as it may sound, Esprit may well become the first non-banking institution to offer Check 21 services within all of China. As an independent financial services provider, we believe that Esprit is well positioned to work with any number of clients and strategic partners, without delays that may arise in regards to relationships with corresponding U.S. banks."
In the U.S., the number of checks being cleared via the Check 21 process has grown geometrically. On an annualized basis, it is estimated that Check 21 processed transactions account for roughly $13.6 trillion as of July, 2007. (Source: Transactions settled through the Federal Reserve, NCHA and SVPCO with no duplicate counting.)
Esprit will be providing further updates on its Town Hall forum available at www.espritfinancialgroup.com as the project moves forward.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division, Forex Trading, and Advanced Electronic Funds Management.
http://www.stockhouse.com/news/news.asp?newsid=6116317&tick=EFGO
NEWS NEWS NEWS
LAS VEGAS, Oct. 5 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today that its CEO, Garr Winters, will be returning to China next week for high-level negotiations on several business projects.
Mr. Winters stated: "We have negotiations scheduled on a couple of deals related to our IFGX division. Our China consultant Robert Xu has advised us that we are close to achieving agreements in principal to with two specific companies seeking access to public markets.
Our local legal counsel has recommended a strategy that can significantly shorten the typical time-frame required to achieve our clients' objectives of accessing public markets outside of China. These two projects will hopefully validate this approach, and we will then be in a position to green light a number of similar projects in the pipeline."
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and IFGX Specialized Investment Banking and Financial Advisory Services.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
All IMO
YEP, He is seeking the Chineese Goverments.Thats Great - Big Future and so on.IMO
WHOA!! First you disclose Wallys Turtle now Smoke Tree Ranch this is like where THE FAT MM go and chity chat.! I know I know you are not a MM as you say! Its just a bit too coincidental!? You must get some heavy duty tips at Wallys and Smoke Tree C mon PM me BRO!
Guten Morgen! Gibt interessante News!
Letter to the Shareholders from Garr Winter
Posted in Announcements, Investor Relations at 7:40 pm by adol77dai51
I’d like to take the opportunity to say a few words regarding the progress of Esprit and where we are heading. They are overdue, and I apologize for the delay. First, let me express my thanks for the many positive comments we receive from our shareholders. An even bigger thanks for your patience. We have been hard at work building a solid foundation upon which to achieve very aggressive objectives in terms of growth. I know that it can be frustrating to be told deals are in the works, contracts are being negotiated, and everything good is yet to come. Please know that we are as impatient as you to start closing some of these deals. More importantly, we have a high level of confidence that we can deliver that growth, and reward your patience very, very handsomely.
I know we have our detractors as well. I want to make clear that we are doing everything in our power to move things forwards as quickly as humanly possible. I think we all understand how important that is, not only from a financial point of view to build the Company to the next level, but to start generating solid, positive momentum in our stock. Again, as insiders, we can see further down the road more easily. I am therefore very optimistic about the next couple of quarters, based on the business developments we are working on.
It is also a poorly kept secret that the Company has suffered from significant short selling, and from what I can tell, there have been some desperate moves to accuse the Company of everything from outright lying and fraud, to stealing candy from a baby. Many of these criticisms seem designed to undermine confidence in the Company, rather than express legitimate complaints, in order to keep the stock price low until the shorts can cover their positions. I trust the ability of our shareholders to be able to differentiate hysterical accusations from legitimate concerns.
I’d like to announce at this point that I am planning to continue work with Esprit beyond the end of this year. Part of this is selfish. The remainder of 2007 promises to be a whirlwind. We have worked very hard to develop new opportunities to grow our Company. I’d like to hang around for a while and enjoy the fruits of our labor as we begin to turn plans into reality, and good intentions into cold hard cash.
While I will not be able to stay on in a full-time capacity as the CEO, I will remain involved to help the Company transition as it matures and the operational side of the business flourishes. However, I have other business interests that require my attention as well, and need to balance my time between these.
As many of you doubtless know, I have returned my common stock to the Company. Initially, I planned to leave after the end of the year, and would have been free to sell my common stock as I saw fit. However, as an insider, the restrictions on trading Rule 144 stock creates complications, required filings, calculations on how much I can sell at any given time. Like you, I would like to reap the rewards as the price of our stock goes up.
Thankfully, I am well enough off that this is not a financial burden. However, I didn’t get to where I am by being a complete idiot. If some of the deals we are negotiating come through as we intend, I expect to get properly compensated.
We have put together a good faith agreement to have Minaco-Tradex transfer a portion of their preferred shares to me, as the most convenient method. At this time, no shares have been transferred to me. I have confidence that things will unfold as they should, in an equitable manner to all parties. Most importantly, I have confidence that our shareholders will be rewarded for their patience.
Importantly, shareholders should know that I still have a vested interest in seeing the Company’s share price rise significantly, as this is one of the key measures on which my performance will be judged in regards to the preferred shares. In other words, I am still accountable to bring the share price up to its real potential.
I know that our Investor Relations department has been working very hard to answer your questions and concerns, and I have not made it an easy task for them by being out of the country more than in it. If there are delays in responding to your questions, please know that it is often attributable to me.
China:
As most of our shareholders are aware, China has become our key focus.
Robert Xu is completing the testing for the Check 21 service in conjunction with the banks. There was a delay getting the scanners through customs that pushed the testing process back until after the Golden Holiday week. We will provide updates as quickly as possible. I can state that things are looking very positive for this service, and we will provide more in-depth information as we get ready to roll the service out.
There are a number of China based companies that are intent on accessing the public markets outside of China, who have approached us in regards to reverse mergers. While traditional reverse mergers have a variety of obstacles in place within the Chinese regulatory system, we have developed an approach that can achieve a similar result much more easily and within a much shorter time-frame.
This will bring significant new revenues to the Company through our IFGX division. We intend to close one or more contracts in this area within a month.
PayDay Loan Division:
Our sales team continues to generate new software licenses to contribute sales in addition to our existing monthly maintenance revenue.
Australia has just recently passed new legislation that is more restrictive than the U.S. or Canada. It is likely that this will result in softer initial software licensing sales for this market.
On the good news front, Esprit has negotiated a financing package that will allow new licensees to finance the purchase of our software over an extended period of time. This achievement is very recent, and we have successfully put through the first two deals using the financing facility in the last few weeks.
We believe that this financing option will open up a whole new class of licensees, who are looking for home-based businesses. With the ability to spread the cost of start-up over an extended period of time, Cash Now becomes a very attractive business opportunity compared to most other Home-Based or SOHO alternatives.
Advanced Electronic Funds Management (AEFM):
As mentioned above, we are getting very close to green-lighting our Check 21 service for China.
The Company is also in early discussions to begin offering a new electronic funds transfer product to our portfolio. While it is premature to make any announcements, we will provide updates if and when the project advances.
IFGX:
This division has been a bit of a sleeper. The division concentrates on two key financial services; Mergers and Acquisitions (primarily reverse mergers) and merchant banking. We saw these areas as opportunistic, and a way to leverage our knowledge base of the OTC markets.
To our surprise, we have had a couple of deals come to the table within the last few months, and Robert Xu has been approached on multiple occasions by Chinese companies seeking public listings outside of China. I hope to finalize one or more of these deals in China later this month.
We will start showing revenues from this division in the upcoming quarter, and believe that the division can deliver significant revenue primarily from China, but also from the U.S. as well.
We have hired Steve Edwards to head up North American sales, and free up senior management resources.
Forex:
We have de-prioritized this project during the last quarter, but will renew our focus in this division during the last quarter of this year.
In the mean-time, Peter Presland has begun trading a house account on behalf of the Company, and has been evaluating a number of third party services that can generate additional revenue beyond the pip spread.
We will be revamping the website and adding a number of related services to our portfolio in the upcoming quarter.
In summary, there have been a lot of exciting developments for the Company during the last quarter. We didn’t end up exactly where we planned, and there have been a few bumps along the way, but we have also been quick to seize new opportunities that have presented themselves.
Jack Chang was a bitter disappointment, while Robert Xu has delivered in spades. We stalled out a little on the Forex front, but saw the IFGX division roar to life and show growth potential well beyond our initial expectations.
China holds the promise of radically transforming the Company, not only from the projects we have announced, but from projects that are not yet finalized and still confidential in nature.
Net-net, we are a couple months behind our plans in terms of generating top line revenue, but we are working on a number of projects much larger in-scope and scale, and with higher revenue potential than originally anticipated.
In short, we think we’re going to end this year with a helluva bang!
Sincerely,
Garr Winters
EFGO - Strong Buy and to be Long - $$$$
