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BANX AND GREEN GROUP, INC
Presents answers to stockholder questions
Coral Springs, Fl – February 18, 2008 – Banx and Green Group, Inc. answers questions presented by shareholders.
“Since the announcement of the dividend and acquisition of LGN Entertainment by Banx and Green Group, there have been many questions. I am hoping that the following will help answer these questions of the shareholders. I believe the easiest way to achieve that task was in a Q&A form” stated Rick Papaleo, President of Banx and Green Group. The opinions expressed below are those of the Company President.
1 – Recently, Rick Papaleo, the company President, has been with CENTRAL PARK NORTH WORLDWIDE EVENTS (CPNW), ISE BLU EQUITY CORP (ISBL), REGIONS OIL & GAS (RGNO) AND NOW BANX AND GREEN GROUP, INC. Please explain all the reason for all moves?
Over the past years I have been involved with a few Public companies such as Beere Financial Group, Regions Oil and Gas and Ise Blu Equity Corp. The reason for these affiliations was to secure financing for various entertainment projects, mainly Concerts/Live Events. With all the companies that I was associated there were promises and plans to uplift to the OTCBB, but that never happened and we were unable to secure the financing necessary. That is the reason for all the moves and why I choose Banx and Green Group, Inc. and move it to the OTCBB.
2- Explain in more detail about your recent relationships with ISBL and RGNO and why the sudden departure?
CPNW was a joint venture between Ise Blu Equity Corp and my consulting firm Central Park North Enterprises. The deal was for ISBL to supply the necessary funding and my network of producers and talent to stage, market and produce the shows with each party being paid a percentage of the profits. In order to achieve this task we must secure a substantial amount of funding. ISBL unfortunately was unable to supply the large funding with the company’s current share structure. With the stock price being where it is, ISBL would have to either increase their outstanding or do a huge stock reverse, both where unacceptable to the board. With that policy in mind, we all felt no need to continue the relationship with ISBL. Doing smaller shows were fine but if you want to do shows for example such as Elton John, Paul McCartney, etc. the amount of shares necessary to secure the funding would be tremendous and unrealistic so we moved to an opportunity to accomplish the goal.
With regard to Regions Oil & Gas, my plans were to implement the current Banx and Green business plan, but soon realized that it just was not a good fit. The current RGNO shareholder base couldn’t quite grasp the concept as their only concern was old oil wells. There had been no intention to be in the oil business and that information had been put in a press release. When I was approached about the American Energy Savers opportunity, I thought it to be better synergy and moved on to Banx and Green Group. The RGNO agreement was an interim opportunity for me, once I realized that it was not a good fit for my business plan and that it would not accomplish the goal I moved on.
Rick Papaleo is a shareholder in RGNO and ISBL.
3 – What is your understanding of the relationship between ISBL and RGNO / Central Park North Worldwide Events?
Due the lack of funding available from ISBL both parties (Central Park North Worldwide Events and ISBL) agreed to end their joint venture relationship amicably. It was unwound and both parties returned back to their original status before the joint venture was signed. Central Park North Worldwide Events was returned back to Central Park North Enterprises and ISBL walked away from the deal. Central Park North Worldwide Events never received any consideration from ISBL other than both parties are partnering in a small show in Florida featuring Al Martino in April. The parties will split the profits 50-50 after that other shows may be done but no other considerations are due.
Central Park North Worldwide Events was sold to RGNO.
As of the date that I resigned from RGNO, Central Park North Worldwide Events and ISBL had an agreement to produce an Al Martino show in Florida. Other than some chat that I had with Doctor Dre to produce YO MTV Shows, I believe that there is no other relationship.
For full disclosure, I am still working with Mel Rich on producing the Al Martino show and I will live up to my commitment with Mel and Central Park North Worldwide Events”
4- What are the future plans for Banx and Green Group, Inc.?
First, we must complete the audits for LGN Entertainment that are in process currently plus the audits for 2006 and 2007 for the Banx and Green Group, Inc. predecessor.
Second, once audits are completed we will file a registration statement and begin the process for movement to the OTCBB. I can only guess and this would be an estimate 90-120 days before we are approved. Once approved we will receive a symbol, new Cusip # and all company documents will be posted on the Edgar filing for everyone to view. The shares that are to distributed to the ISBL shareholders’ will occur upon the approval of the Banx and Green, Inc. registration statement to the shareholders’ of record of ISBL at the close of business on February 18, 2008.
It could be less or more time depending on t the regulatory process.
The company business model is an Entertainment and Marketing company that is seeking additional acquisitions but will focus on growth and development of internal entities. We are not seeking to be a holding company. Our plans are to secure $20 million dollars in funding.
5- Please explain the current and future relationship between ISBL and Banx and Green Group, Inc.?
“Banx and Green has an option to acquire the balance of the assets of ISBL. The LGN Entertainment acquisition is complete with the dividend and at this point we have no plans of any additional ISBL acquisitions. In speaking with Doctor Dre, One Media One is a monumental task and Banx and Green is not prepared for that task. I think that One Media One is huge cutting edge project and I could understand why they are behind schedule with their launch. I wish Dre the best of luck and still hope one day to do some shows and/or tours together.”
With regard to Fight Co., I don’t have enough info about the company to even consider a conversation.
I am, however interested in Vessel Worldwide Music for a LGN Entertainment subsidiary, as I developed that company with Joyce Sims and have a long time relationship with Joyce. Ms. Sims and I developed a couple of different Vessel companies together and Joyce took over Vessel Worldwide Music and I took Vessel Entertainment which is now Central Park North Worldwide Events. I know that it all sounds a bit confusing but Joyce is like family and we work well together and I hope to do so for many years to come.
Other than casual talks about Vessel there are no plans at this time for Banx and Green to have any further relationship with ISBL”
6 -Is there any other acquisitions you are seeking?
“The current board is reviewing several proposals, but at the moment, other than Vessel Worldwide Music, the only other company that I am considering is Central Park Worldwide Music. I have not formally inquired as of yet, but do have an interest”
7 – What is the company structure in Banx and Green Group?
The company won’t know the share structure for a couple of weeks as we are waiting for a shareholder list from the transfer agent and DTC must confirm all the “SHAREHOLDERS OF RECORD” for dividend shares of Banx and Green. We want to make sure that there are no shares issued to anyone who is short the stock.
The Board of Directors as of this date are Rick Papaleo and Steve Lane. Our plans are to name 3 additional members by the end of February. According to the agreement with ISBL, they will submit 3 members for consideration and Steve Lane is one, I await their recommendations.
I have been appointed President and the search is on for a CEO. Steve Lane was appointed to the Board and will not be part of the Banx and Green Group management at this time but will work with LGN Entertainment”
8 – Tell us a bit of the history of Banx and Green and what will the share price be?
As far as I can tell, the company was Powersave, Inc and Beere Financial Equity Group.
I am not sure of the history of Powersave as that was some years ago Beere Financial Equity was a subsidiary of a company that myself and Steve Lane were involved in with Beere Financial Group. I was with Beere Financial Group for about 3 months in 2006. Steve was there for a longer period.
Beere Financial Equity was not trading because the board had chosen to remove it from trading as a grey sheet in 2006. The stock price was $4.50 at its last trade with 1.1 million free trading shares in the flow and 9.6 million outstanding with 34 shareholders. They remain a fully reporting company but need to bring their reports current.
Once Beere Financial Group became Steadfast Holdings, Beere Financial Equity was repurchased from its controlling interests.
Banx and Green is expected to begin trading at $1.80 x $2.00 with approximately 20 million shares outstanding and up to 11 million in the public float of which most will be owned by the current shareholders of ISBL.
“In closing I am extremely excited about this opportunity but hope that everyone understands that this is a longer term investment as we are not trading and have to go through the process to achieve that status. I understand that everyone is interested in getting their stock and begin trading but we need to be approved to trade first.
I also want to let everyone know that a website will be developed and a new company telephone number will be posted in the coming weeks. I will also propose to the new board that we have an internal PR/ Investor Relations department.
We welcome questions and comments via e-mail from the shareholders and we will answer the e-mails to best of our ability.
Things are moving along nicely and I am going to ask for the shareholders patience” stated Rick Papaleo, President of Banx and Green Group.
This will also be available on the ISBL Blog for further review.
Banx and Green
ATT: Rick Papaleo