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That looks great... thanks. Oh, one MORE suggestion, any way to make those links, so when someone clicks on them they can read the PRs? If you can do that, I can provide you the actual links. Let me know.
I think with all the folks reading this board, that if we make it easy for people to click on a link and read the actual PR themselves that would beneficial. Any thoughts?
Thanks again for updating it.
Rig.. Here you go should be up to date.
Esprit Financial Group Inc (formerly Cash Now Corporation) (CHNW.PK) Identifies Several Forex Broker-Dealer Acquisition Opportunities
PR Newswire (Thu, Mar 1)
Cash Now Provides Update on Corporate Activity
PR Newswire (Wed, Feb 28)
Cash Now (CHNW) Cash Now Launches Forex Beta Test Site
PR Newswire (Wed, Feb 28)
Cash Now Key Executives To Be Compensated by Stock in Lieu of Regular Salary
PR Newswire (Tue, Feb 27)
Cash Now Announces Engagement with a California Web Based Marketing Company
PR Newswire (Fri, Feb 23)
Thanks Rig... I didn't expect you to do it by camel back! LOL
I just thought it would be good to get it updated when someone had a chance.
Suggestion to Moderators... When you get a chance, it might be good to update the ibox with the new PR headlines and info that has come out recently. You are doing a great job and I appreciate all your efforts. Thanks
Take a look at the news that mentions some UBSS activites...
I see they are on the bid and ask... maybe this will shake up some things at UBS Securities.
http://news.yahoo.com/s/ap/20070302/ap_on_bi_ge/securities_fraud;_ylt=AvCXKpK9twh2I3Jy5uWdYxtu24cA
No problem, just didn't want you spending your time in Vegas looking for them! Getting out of the Wyoming winter for a bit? I live in Montana, so I know the desire for some sun and warmth!
They are Incorporated in Nevada, but the physical office is in Florida.
OT: Take care MNM... glad to see you are doing well and checking in! Getting spoiled with wireless internet. Who would of thought you could sit in your hospital bed and check on your stocks!
CHNW still having lots of folks keeping track of what is happening. Currently #2 on iHub most read at over 10,000 reads this morning.
Looks good this morning, just keep it moving up steady....
No problem... that is the first I found where they mentioned that their sister corp atmbusiness would be buying Global from them.
Rigmedic... last night you asked Barter about the Global shell and what their plans might be. I found an interview with their IR and take a look at the summary near the bottom of post #14520.
That is the only time I've found mention of their detailed plans with the acquistion of Global.
Good morning everyone...
Esprit Financial Group (Cash Now)- The business potential from an Internet perspective.
I thought I would give us all something to think about regarding the interest and potential of the businesses that Esprit is involved with and planning.
We all hear that Forex is hot, the ATM business is big, Payday loans are popular. Being involved in Internet marketing, I thought I would take a quick look at how popular these businesses are in terms of Internet searches. I'll throw in a few "non-business" keywords to give us something to compare to.
The following are keywords that people search on using Google and Yahoo. The numbers are the number of searches for the keyword last month through Yahoo (Overture).
Keyword Searches
"nascar" 361230
payday loans 293768
"football" 284244
"Iraq" 233275
"stock market" 126893
forex 122371
"beer" 92603
forex trading 75717
check cashing 51831
"Paris Hilton" 49915
forex online trading 48393
atm 25213
debit card 11749
"investor hub" 10699
cash now 6512
ewallet 1528
"investorshub" 340
atm business 306
atm franchise 274
payday loan franchise 186
cashnow 142
Hopefully this will help illustrate the interest and potential in the businesses that Esprit is involved with. Lots of potential customers...
19th Annual Card Forum & Expo
April 22-24,2007
Boca Raton Resort and Club
Boca Raton, FLorida
Link: http://www.sourcemediaconferences.com/CFE07/
I wonder if Esprit will be attending? Right up their alley, and in their back yard.
I also found another interview about Jack Chang and Cash Now. Found in Cardforum's Prepaid Trends 'Payday Loan Corp buys Prepaid Card Provider' Feb.7, 2007 Vol. 2 Issue 3 Page 5.(PDF file) Link: http://www.cardforum.com/attachments/20070207SMBLTAU3-1-February%207,%202007.pdf
Summary:
-Cash Now agrees to acquire Global Vision for undisclosed amount
-IR Michael Ellis said hope to complete end of February
-Goal was to add Mr. Chang to managment staff to lead international expansion of ATM programs to banks.
-Cash Now will sell Global for an undisclosed amount of cash to ATM Business, Cash Now's sister corporation
-Cash Now which managed point-of-sale terminal programs in 2004 and 2005 wants Chang to assist in selling these programs now
-Strategy is to focus the ATM deployment on the coattail of the international debit card market
I had a small bid support in at .0008 all day and it never filled. Not even early this morning. Someone might have gotten some that low this morning but it wasn't me...
I really liked how this stock acted today... very pleased. Just the beginning!
Close at .0011 and I saw the ask uptick to .0012 at the close!
Just click on the Hot! link at the top of the Ihub page and click on the most read link...
CHNW still generating lots of interest. Currently #1 on iHub most read boards at +42,000.
Looks like we are still churning in this area. Build a solid base and then move up... Looking good!
Thanks Allinxxl1968, you are on top of things as usual.
Haven't seen him lately. Hopefully he wasn't driving and typing!
KA12... lol, the IR probably misses hearing your voice today! Probably going into withdrawl...
Geez nathanial... be careful! Don't get in an accident, don't want you posting from the hospital!
Rig, good to see you today. You missed the roller coaster ride yesterday.... Lots of news while you were gone, I'm sure you are getting caught up. Esprit Financial Group, Inc is looking good today!
I like how this has been upticking this morning... a tick at a time. Open for an hour and up .0005 nice with no gapping.
Here is a good review of the job of the IR...http://www.prnewswire.com/financial/irreview/html/031901.shtml
Thanks nathanial... appreciate the L2's. I like todays activity so far.
Good morning everyone... wow, takes a while just to get caught up on all the new posts! I'm going to have to get on the computer a little earlier!
I saw there were over 130,000 reads of this board yesterday... unreal!
Some very good posts by many board members last night. Especially by KA and Allinxxxl1968.
Good news this morning! Great communication to the shareholders through the PRs. We have been asking to be kept informed and they are doing that.
I don't think that is entirely correct. As I understand it...
just because a company can issue a certain number of shares (authorized shares) doesn't mean that it is going to issue all of these shares to the public. Typically, companies will, for many reasons, keep a portion of the shares in their own treasury (shares in the company treasury don't count toward the outstanding shares). Outstanding shares=float shares + restricted shares.
For example, the company may decide to maintain a controlling interest within the treasury just to ward off any hostile takeover bids. On the other hand, the company may have shares handy just in case it wants to sell them for excess cash (rather than borrowing). This tendency of a company to reserve some of its authorized shares leads us to the next important and related term: outstanding shares.
This was summarized from investopedia. I found it very helpful to review the different terms.
Educational background for Jack Chang
From Global Vision website
Link:http://www.global-vision.com/Bio.asp
Mr. Chang has a BSEE degree in Electronic Engineering from Purdue University, a MBA in Marketing/Sales from Southern Methodist University and had done PhD studies in MIS (Management Information System) at University of Texas - Dallas Extension.
If you go to the link, take a look at the ATM Patent. He is co-inventor of the ATM machine. Invented and filed in 1974.
Remember Mr. Chang is now associated with Cash Now (Esprit Financial Group, Inc).
Mr. Chang's comments about Cash Now:
Link: http://biz.yahoo.com/prnews/070129/to294.html?.v=44
Jack Chang, CEO of Global and the co-inventor of the ATM, said, "I see Cash Now as being a well-financed, upwardly mobile and forward-thinking company, with good management and a good advisory team, that has demonstrated revenue, and is in a strong position to expand its market share Internationally. International market expansion is where I can lend tremendous help since I have been working on the international front for the last several years. Moving forward, Jack Chang will maintain an equity position in the company, and will be actively involved in the business and marketing strategies and activities of the ATM side of the business.
Garr Winters comments about Jack Chang from same PR:
Cash Now's CEO Garr Winters said, "we have been actively looking for an ATM and prepaid debit card expert to add to our management team for some time now. Our interest is in Mr. Jack Chang rather than the company in which he is a majority shareholder. Cash Now's advisors confirm that Cash Now will, soon after closing the transaction, spin out Global to an unrelated purchaser for an undisclosed sum to be paid in cash. We have been working out the details of this acquisition for several months now as we see a huge upside opportunity in the ATM sector. Mr. Winters added, "the ATM point of sale business was briefly operated by Cash Now several years ago in 2004 and 2005 by its previous management which I'm proud to have been part of. We literally witnessed our revenues skyrocket during that period, and we are looking to duplicate or repeat that process with the assistance and guidance of Mr. Chang.
The strategy: (from same PR)
Mr. Chang said there are currently more than 1.5 million ATMs worldwide, but the deployment of ATMs is still in the infancy stage in developing and less-developed countries. Internationally, prepaid products, such as the prepaid debit cards, are rapidly emerging. The next wave following the prepaid debit cards will be the need for payment system devices, such as the ATMs, to acquire the transactions of the prepaid debit cards. Therefore, the strategy is to focus the ATM deployment on the coattail of the International Prepaid Debit Card market, which is virtually untapped and enormous, since more than 5 billion of the 6.4 billion people in the world are "un-banked."
In my opinion, just the addition of Mr. Chang is a huge boost to the the company and when you add in the Forex launch on top of all the other finanicial products they offer, I don't know how people can ignore the possibilities.
Sure they are a pink sheet, but you have to start somewhere!
Jack Chang resume (From Global Vision website)
Link: http://www.global-vision.com/Resume.asp
P R O F E S S I O N A L E M P L O Y M E N T H I S T O R Y
Jack Chang
Docutel Corporation (1969 - 1977)
In early 1970’s he started worked for Docutel Corporation. Starting out as an electronic engineer, he became a project manager then Director of research and Development and then Major Account Sales.
He was involved and was responsible in the development of most of Docutel’s products during his tenure. Since 1974, he participated and directly involved with the sales of hundreds of ATM’s, including hundreds of travelers check dispensers to American Express. He was also instrumental in the sale of over 1,000 ATM’s in Europe.
Quadstar Corporation (1977 -1984) ; President
In 1977, he was offered a consulting assignment to design and develop an electronic payment transaction switching and processing system for American Express. He also developed plans and implemented systems mostly for banks and credit card processing service providers.
In 1980, he saw an opportunity to build ATM and POS transaction switching and processing systems as a business because of the banking deregulation. Very quickly, he sold the idea of first such system to Bank of Ohio and then to a series of other financial and retail institutions. Within three years, Quadstar grew to 150 employees and sold 110 systems worldwide. In 1984, he sold Quadstar to Citicorp, then Quadstar’s largest customer.
Citicorp/Quadstar (1984 - Late 1986); President
From 1984 to 1987, Mr. Chang was the head of a Citicorp company with global marketing and sales responsibilities. His responsibilities included evaluating the services, assets and intellectual properties of various Citicorp operating entities for potential revenue opportunities then develop plans and implementations to effect the opportunities. The revenue generation plans include design and or implementing innovative service delivery infrastructures, such as encryption, satellite and wireless networks.
His marketing and sales endeavors required him to organize and manage a team of U.S. based marketing managers and sales representative as well as to coordinate sales activities with regional Citicorp representatives in five continents of North America, South America, Europe, Asia and Australia. During this period he traveled extensively to close major sales and interacted with high-placed prospective executives of Global 1000 companies.
Itac Corporation (1987 - 1990) ; President
In 1987, Mr. Chang foresaw the use of PC’s as the platform for bank teller and platform systems. He arranged with Citicorp to leave his then post and formed Itac Corporation. He led his high technology team in the design effort, and within one year, Itac developed a easy to use Windows application generator and database system by 1988.
For connectivity for the developed Windows applications, Itac also developed and marketed one of the earliest LAN-gateway systems capable of easy connection of LANs to NCR and Unisys mainframes, as well as IBM host systems.
In 1989, using the applications generator and LAN-gateway, Itac created and marketed one of the earliest PC-based bank teller and platform systems. Itac sold the teller/platform systems to several financial institutions. In 1990, ISC/Bunker Ramo (later on became part of Olivetti Business Systems), then the second largest teller/platform system provider, acquired the product line from Itac.
ISS (International Shared Solutions), Inc. 1991 -1998; President
ISS was a technology and business consulting company. To enhance its consulting activities, ISS developed, in 1991, a BPR (Business Process Re-design) tool that can analyze business processes and make redesign recommendations.
Mr. Chang and his team of technical and business professionals performed business process re-design and management and technology consulting services to Fortune 500 companies. The consulting assignments included:
Five year strategic operations and technology plan for NationsBank
A secure Internet-based credit card transaction system for Visa
Smart Card marketing and deployment strategy for VeriGem (Joint venture of Verifone and Gemplus)
Product market strategy for VeriFone, the POS maker
An electronic payment system marketing and deployment strategy for Unisys
Intelligent intranet system for Coca Cola Enterprises
Enterprise network strategies for Deluxe Checks and Ceridian Employer Services
Data security plans for Deluxe Checks and Ceridian Employer Services
Internet browser-based payroll data submission system for Ceridian Employer Services
Wireless strategies for EDS
Global-Vision, Inc. (1999 - Present); President
In 1999, Mr. Chang decided to be involved heavily with the Internet and wireless technologies and re-incorporated his operation as Global-Vision. The software products developed under the Global-Vision banner include:
High volume Laser printer control systems that can increase the printing speed and reduce the need for font and image management for most print processes
Developed an overall knowledge management system that combined the need for paper printing, Electronic Bill Presentment, information archiving and viewing.
Computer Telephony Integration (CTI) and Interactive Voice Response (IVR) Systems - Including integrating CTI/IVR systems with the Internet
An advanced Internet/intranet authoring tool (the Silverado) that can be used to create not only sophisticated Web sites but also intelligent business process workflow systems.
In early 2000, Global-Vision began working on wireless application potentials with Nippon Columbia, which represents an alliance of industrial giants that includes Hitachi, Sanyo Electric, Fujitsu and Infineon (the semiconductor part of Siemens of Germany). The result of the collaboration resulted in a marketing rights agreement of a semiconductor chip containing a smart card computer, a cryptographic engine and capable of high-density storage. Mr. Chang’s goal is to incorporate the chip in various devices (such as cell phones) for various applications, including a cell phone activated wireless payment system.
You are correct about the interest in Mr. Chang... I think he is a huge assest that people may underestimate. I took a look at his bio and resume.... lots of knowledge about the ATM and world of electronic debit cards. Those of us that have researched this company understand the value of Mr. Chang.
Link: http://www.global-vision.com/Bio.asp
For those of you that don't want to follow a link, here is the biography of Jack Chang from the Global Vision website.
Magnetic Stripped Bank Cards
Participated in the earliest development and use of magnetic stripe based data on plastic cards
Participated in the development of the earliest manual magnetic striped card-encoding machine
Implemented the first high speed, high volume magnetic striped card encoding machine
ATM (Automated Teller Machine)
Design and developed ATM (Automated Teller Machine) as a full function automated banking machine and was awarded the patent of the ATM
First person to put ATM’s online to financial institutions’ authorization databases
EFT (Electronic Funds Transfer) Network
First person to develop an ATM and POS (Point of Sale) network system that can interface to more than one financial institution for financial transaction authorizations
Pioneer in developing, marketing and deploying modern day electronic banking, ATM interchange, clearing and settlement systems
Developed and marketed bank wire transfer systems, IVR (Interactive Voice Response systems, credit card authorization and collection systems
Pioneer in putting gasoline dispensers online to authorization networks
First person to develop and deploy encryption devices for bank transaction data
Bank Teller and Platform Systems
Developed a GUI based application generator and database system in 1987 and, subsequently, marketed vertical industry applications, such as bank teller systems, contact management systems created by the generator
Developed one of the earliest LAN gateway systems, interfacing IBM, Unisys and NCR mainframes
Business Process Enhancement Systems
Developed and marketed a business process redesign tool that can analyze business processes and make redesign recommendations
Marketed and developed Lotus Notes and other groupware applications in the earlier stages of Notes
Served as architect and designed wide area networks and intranets for major corporations
Developed production high volume Laser printer control systems that can increase the printing speed and reduce the need for font and image management for most print processes
Developed a statement management system that combined the need for paper printing, Electronic Bill Presentment, information archiving and viewing.
Developed and integrated automated customers care management systems that deploy CTI (Computer Telephony Integration), IVR (Interactive Voice Response), Unified Messaging (integrating FAX, voice mail with email) and the Web-based paradigm of doing business.
Developed a powerful software tool (code named “Silverado”) that can automate, reduce the complexity and rapidly create, change or “re-engineer” intelligent, database-driven Web sites and Internet-based business processes.
Silverado also reduces costs by reducing the need for programmers, speeding up the capabilities of business managers and analysts. Because Silverado saves time, reduces the difficulties associated with database applications and allows easy entry of business logic and rules, a business (or even a Web site development company) can potentially create many intelligent Web applications rapidly without needing extensive technical resources.
Wireless Data
In late 1999, Mr. Chang began working with an alliance of Japanese industrial giants that includes Hitachi, Sanyo Electric, Fujitsu and Infineon (the semiconductor part of Siemens of Germany). The result of the collaboration is the development and production of a semiconductor chip containing a smart card computer, a cryptographic engine and capable of high-density storage. Mr. Chang’s goal is to incorporate the chip in various devices (such as cell phones) for various applications, including wireless payment systems.
Now that is an informative post! Mark it and read it... and then read it again and repost the reference!! Thanks Allinxxl1968!
Roller coaster ride today, but with both of you calling the IR that has helped a lot. Take care... I think we will all be very happy in the future.
KA12, Thanks for keeping the board informed about your calls to the IR. You are one of the few on this board that actually pick up the phone and call!
As expected, CHNW is quite popular right now...
#1 most read on iHub currently over 93,000
#1 most posts on iHub currently over 1,000
With all this attention, lots of groups/traders are going to be entering and exiting as the pps goes up and down. Expect it. Right now the flippers love it because they can get 100% pretty easily.
I think the company has answered our concerns and at this point, I'm satisfied with what they have presented.
Tick tock Tick tock... lol
Great post as always.... people just need to check for themselves! Glad you got some more, I was away at that time.
Looking much better now.... if people would just do some checking, they could figure out what is going on.
The 2000 file date was the original filing date for B com, Inc which became Cash Now in 2005, which is now Esprit Financial Group, Inc. Easy to follow the path, people just need to look.
Information regarding the Nevada filing...
Lots of confusion about this. Here is my attempt to shed some light on the situation.
The reason for the 7 years is that B Com, Inc was organized then (10/11/2000). B Com became Cash Now Corp (1/28/2005), Cash Now name change to Esprit Financial Group, Inc (2/27/07).
That is my take on the situation about the date of the filing and the name changes.
Links: B com filing http://sec.gov/Archives/edgar/data/1140736/000114073601500002/0001140736-01-500002.txt
Cash Now, Corp filing http://sec.gov/Archives/edgar/data/1140736/000114073605000001/0001140736-05-000001.txt
Esprit Financial Group Inc https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=VXehRn4u%252frPF%252bYLY3RCK5g%253d%253d
I will wait for the company to explain the details of the additional shares and according to emails posted on this board, that should happen soon.
Ok... now that the dust has settled a little bit I have a few comments.
First we must remember that there are groups of traders out there that love these sub penny stocks. They can come in and move them up quickly on hype and then sell on the news. They move on to another stock and repeat. Is this what happened here? I don't know for sure, but it is possible.
Second I think the company needs to explain the 11 billion to us. We got the info from a post of the Nevada filing that also had the name change Esprit Financial Group Inc.
Third the company provided the Beta Forex by the end of February as promised. An announced new website with a "live" virtual sales person is being developed. The full site scheduled for the first part of April.
Fourth, things can change quickly in the stock market... based on rumors and news. Just look at yesterday for an example
Fifth be careful, read the positive and negative posts and do your own DD to make your decisions.
Sixth, I still want to know the role of Jack Chang and the result of the Global Vision deal. I have a hard time imagining that Mr. Chang would join up with a company that he didn't believe in.
Lastly, I am still holding my shares, I want to see how this launch into the Forex market proceeds. Things take time to develop and it takes money to make money and to build a business.
In all honesty, I bought this as a "lotto" and I'm not going to rip up my ticket before the drawing.