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StockSniper for one
I do not see any e-mail addresses in your correspondence.
Second, if it is a e-mail why would you post it here and ask for Opinions can't you make a decision yourself? Seems your bringing your own personal issues here to the board, why?
How would you like if a personal e-mail you wrote to someone was exposed?
Third,
As far as Theresa and MT are concerned I have admiration for both, they are working relentlessly everyday to make the PDR Exchange Work for all investors.
Fourth IMO your post should be removed.
As of this disclosure
7,800,000,000 common share are issued and outstanding
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11333
Cong Reed forgot the link
Put in the I-Box
Posted by: herbalife13
In reply to: None
Date:7/31/2007 7:42:34 PM
Post #of 57766
Management Discussion
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
Cong Reed
Put this in the I-Box if it isn't already
Management Discussion
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
EFGO — Esprit Financial Group, Inc.
Com ($0.0001)
Primary Venue: Pink Sheets
Limited Information
* Quote
* News
* Charts
* Company Info
* Filings
* Short Interest
Unsolicited Warning
Inside QuoteBest Bid Best Ask Time of Last Inside Change
0.0003 (100 shares) 0.0005 (100 shares) 4:00 PM
Trade Data / Last Trade 3:50 PMLast Sale 0.0005 Change +0.00
% Change +0.000005 Tick
Daily High 0.0005 Daily Low 0.0003
Opening Price 0.0005 Volume 52,341,100
Annual High 0.07 Annual Low 0.0001
Prev Close 0.0005 Dividend 0.00
Yield 0.00 Beta Coefficient 0.00
Trade data delayed 15 minutes.
Refresh All Data
Contact Information Business Description
3155 East Patrick Lane
Suite #1
Las Vegas, NV 89120-3481
http://www.espritfinancialgroup.com
* Phone: 888-224-9641
* Fax: 866-687-5865
* E-mail: cashnowcorp@cashnow.com
Esprit Financial Group (DBA Cash Now) www.cashnow.com is engaged in the operation and licensing of a comprehensive suite of Internet-based payday loan and check-cashing software and private label back end office systems. Additionally, the Company is in the late developmental stage of offering an innovative high volume Retail Forex trading platform for active traders.
*
Business Indicator
Development Stage Company
*
Primary SIC — Industry Classification
6199 - Finance Services
*
State Of Incorporation
NV
*
Country Of Incorporation
USA
*
Year Of Incorporation
2000
*
Company Officers
Garr C. Winters, CEO, President
Richard Scacchatano, COO
Van Stevens, CFO
*
SEC Reporting Status
De-Registered
*
CIK
0001140736
*
Fiscal Year End
12/31
*
Estimated Market Cap
3,050,000 as of Jul 30, 2007
*
Outstanding Shares
6,100,000,000 as of May 7, 2007
*
Authorized Shares
11,000,000,000 as of May 7, 2007
*
Number of Share Holders of Record
500 as of May 7, 2007
*
Float
4,400,000,000 as of May 7, 2007
*
Company Notes
o Formerly=Cash Now Corp. until 4-07
o Australia Office: Ground Flr, Stafford Hse 23-25 Leigh St, Adelaide, South Australia, 5000
o Canadian Office Address: 157 Adelaide Street West, Suite #710, Toronto, Ontario M5H 4E7
*
Transfer Agent
Heritage Trust,
4 King Street West
Suite 1320
Toronto, ON M5H 1B6
Canada
The information provided here has been obtained from publicly available sources as well as directly from issuers in some cases.
LongOnSilver good banking
Great sign for PNMS and the PDR Exchange.
Posted by: LongOnSilver
In reply to: None
Date:7/31/2007 7:36:15 AM
Post #of 83479
Panama Banks surpass $55 billion.
http://primapanama.blogs.com/_panama_residential_devel/2007/07/panama-banks-su.html
Banks are the best thermometer of how things are going. If banks are moving in, growing and profiting then you can bet things are going pretty well. Here is a news repport from todays paper on the sunject.
Panama, Thursday, July 26, 2007
Banking assets at historical levels - $55.7B
The banks reported net gains of $444.1M in the first five months of the year.
Edith Duarte Castle ecastillo@prensa.com
The total assets of the Panamanian banking center have reached values never seen before. As of May closing, the consolidated assets totaled 55 billion 79 million dollars, an increase of 17% in comparison to May of 2006, when they added 47 thousand 250 million dollars. This amount surpasses 52 billion 258 million that the bank reached in assets in 2006, which they were elevated in the history of international financial center of Panama.
The profits also mark record numbers. The banks reported net gains of 444,1 million dollars in the first five months of the year, 19,4% superior to those of 2006. The extraordinary performance obeys to a series of factors, between which they excel the external commercial surroundings, the growth of the credit to the private sector - to a monthly average of 15% - and a strong liquidity.
Ex- banker Edgardo Lasso emphasizes that the data demonstrate that "Panama is fashionable" and that all the sectors are requiring financial resources to keep up with demand. On the other hand, the general manager of HSBC Panama, Joseph Salterio, indicated that every day Panama "is seen as a much more interesting country to deposit funds and to invest". Recently, two new banks opened in Panama city, Natixis and UBS AG, and other five are in the process of opening operations.
'wallymac thats the way
Everyone should ignore certain posters who add nothing in the form of DD and are only out for themselves. These posters are Greedy, Obnoxious,
Self centered and Eagle Maniac Liars.
************************************************************
From this point forward I will answer questions pertaining to PNMS only if the person shows that they have done, at the minimum some basic DD.
The agenda filled questions from those who are not looking for answers but only to continue whatever agenda they are pushing will go in my personal spam file.
Wally
midas716 Good site and IMO
Being an owner of a PDR (Panamersa Corporation) IMO is the best case scenario to be in.
Why, if there is a crisis in another region of the World lets say the US Stock Market suddenly goes negative for what ever reason, it dosen't hurt your investment if you are invested in the PDR Exchange because the PDR Exchange is Worldwide. They are and will be adding more and more international regions to the PDR Exchange.
As the Link states below the next Switzerland is here Panama!
***************************************************************
Absolute must Read.
http://www.panamalaw.org/index.html
This site will tell you everything you need to know about Panamanian laws, Private Interest Foundations, banking, residency, real estate and a whole lot more.
Read it it will make you:
la crème dans vos pantalon
Watch Out for the Skull and Crossbones
New Pink Sheets Labels Flag the Worst Over-the-Counter Bets
By Nell Henderson
Washington Post Staff Writer
Sunday, July 29, 2007; F01
Riding the stock of Vision Airships during the past few months would have made any investor airsick.
The company, which described itself as a blimp business in the making, was trading at less than a penny in April when it suddenly shot to $3, only to crash like the Hindenburg to near zero this month.
The climb was fueled by hyperbolic press releases -- "We are on the road to explosive growth" -- and spam e-mail touting the stock. The subsequent flameout was best described by the Securities and Exchange Commission in an order issued Monday. The SEC said it had halted trading in the stock due to questions about the company's assertions regarding its acquisition of blimps, its funding for expansion and its potential revenue.
The turbulence of Vision Airships' shares highlights the sometimes dangerous world of over-the-counter stock investing. It's because of stocks like Vision Airships that companies quoted by an OTC service called Pink Sheets will start carrying warning labels this week.
Over-the-counter stocks are those not listed on the regulated stock exchanges and markets. Many of the companies are too small, thinly traded or financially troubled to be listed on exchanges and markets where issuers must meet minimum size and financial requirements.
Internet-based Pink Sheets publishes price quotes for about 8,000 over-the-counter securities. It does not require issuers to register with or report audited financial results to the SEC or other regulatory authority; some do, and some don't.
These securities "can be among the most risky investments," the SEC says in a note to investors on its Web site. "That's why you should take extra care to thoroughly research any company quoted exclusively in the Pink Sheets."
The warning labels, said Cromwell Coulson, chief executive of Pink Sheets, will help investors distinguish between dodgy and decent securities. For example, a black skull-and-crossbones icon would appear alongside securities promoted by spam or "other questionable action," said Coulson. The symbol will mean, "bad people are involved," he said. "Pirates. You should be careful."
Pink Sheets also displays price quotes for the securities of solid companies with real operations and earnings, including big-name multinational corporations.
Some issuers of stocks on Pink Sheets could list on U.S. exchanges but choose not to because of the cost of meeting the reporting requirements.
Many companies, such as Volkswagen, Heineken, Nestle and Nintendo, are listed on foreign exchanges and sell their American depositary receipts through Pink Sheets.
Several issuers, such as auto parts maker Delphi, have been delisted from an exchange because they are bankrupt or are going through some other financial distress.
The value of securities traded through Pink Sheets has ballooned in recent years, to $113 billion last year from $29 billion in 2000, the private company said. The number of shares traded topped 1 trillion last year, up from 22 billion in 2000.
So how to tell the promising from the poisonous?
In addition to the skull and crossbones, Pink Sheets will display symbols categorizing each security in terms of the extent and timeliness of the issuer's public financial reporting -- while not evaluating or endorsing the quality of those reports.
A pink check mark will appear next to those securities whose issuers currently and fully disclose their financial results. For example, about 3,000 Pink Sheets securities are also traded through the OTC Bulletin Board, which is owned by NASD and requires issuers to report their financial results to the SEC or another regulator.
A triangular "yield" symbol means the issuer has disclosed a limited amount of financial information in the past six months. A stop sign will mean the issuer has provided no information in six months.
Pink Sheets has also created a Web site, http://www.OTCQX.com, for what it considers its top tier of stocks or American depository receipts whose issuers have audited financial statements. So far, most are companies listed on foreign stock exchanges, like Wal-Mart de Mexico S.A.B de C.V.
"Hopefully, what we're doing is making more information available so the market can be more efficient," Coulson said.
Coulson also hopes the system will boost his business by helping market his higher-end offerings -- securities that might sell better if not tainted by association with some of the bad apples in the Pink Sheets barrel.
The stinkers include "shell companies, just in the business of issuing press releases and shares," and stocks being promoted through spam, Coulson said. "There's a fair amount of companies that are highly speculative and questionable."
And the new symbols, he added, are "not going to make bad companies go away."
So why does Pink Sheets display such quotes?
Because it is paid to.
The broker-dealers that sell the securities pay Pink Sheets to display their bid and ask prices. The broker-dealers must be registered with the SEC and members of NASD, formerly known as the National Association of Securities Dealers. But Pink Sheets itself is not a regulator, exchange or market.
When Coulson and other investors bought the company in 1997, it was known as the National Quotation Bureau, which published quotes on pink paper along with the broker-dealers' telephone numbers. The broker-dealers called one another to trade. "It used to be a phone book," Coulson said.
Over five years, Coulson's group renamed the service and moved it online, so investors could see real-time, firm price quotes, and trade electronically.
Pink Sheets helps many investors find undervalued securities or distressed companies that may recover.
"You potentially can identify companies that are attractive investments," said Robert E. Robotti, president of Robotti & Co., a financial firm that is both a broker-dealer and investor in Pink Sheets securities. But he added, "You need to know what you're looking at and assess what you think that business might be worth."
For investors who trade Pink Sheets securities, the new categorization system is an improvement, said Joseph P. Borg, president of the North American Securities Administrators Association. "More disclosure is better."
But Barbara Roper, director of investor protection for the Consumer Federation of America, said individual investors should steer clear of the risks. "For average retail investors, the entire category of Pink Sheets stocks should carry a skull-and-crossbones label," she said.
Coulson said he got the idea for the disclosure categories from eBay, which classifies its "PowerSellers" by their positive buyer feedback and high sales volume. But, he added, "there's a lot of stuff for sale on eBay that you'd never buy."
http://www.washingtonpost.com/wp-dyn/content/article/2007/07/28/AR2007072800047_pf.html
elo a Letter with facts on Panama, Great piece
Posted by: elo
In reply to: None
Date:7/28/2007 4:46:59 PM
Post #of 83015
Read this!!!!$$$$$$$
The Sovereign Society Offshore A-Letter
Friday, July 27, 2007
Vol. 9, No. 178
In Today's Letter:
Comment: The Modern-Day Panamanian Invasion
Wealth: When Credit Goes CRUNCH on Wall Street!
Currencies: U.S. Congress Carries a Big Stick, Pressures the Japanese Yen to Rise
The Modern-Day Panamanian Invasion
Today's comment is by Bob Bauman, Senior Writer, Legal Counsel and in-house Panama Expert for The Sovereign Society.
Dear A-Letter Reader,
If you've been reading the A-Letter, you know the Republic of Panama is one of our favorite tax havens.
A stand out among current offshore tax havens, Panama combines maximum financial privacy, a long history of judicial enforcement of asset protection friendly laws, strong anti-money laundering laws, tax exemptions for foreigners and, due to its unique historic relationship with the United States, a high degree of independence from outside pressures, including those from Washington, D.C.
Since Balboa crossed the Isthmus of Panama in 1513 and claimed the Pacific for the King of Spain, this Central American country has been invaded by Spanish conquistadors, English pirates and the United States military.
In recent years, a new invasion has been under way. Americans, Canadians and other international investors have been flocking there to buy into one of the hottest real estate markets in the western hemisphere. Aging North American baby boomers are in the majority, but a growing number of Europeans are developing projects or buying properties.
Panamanian Amenities Are Still Cheap Compared to Miami
Despite its relatively advanced industrial and financial infrastructure, Panama remains an affordable place to live. A live-in maid earns as little as US$150 a month and first-run movies cost US$3.75. Unlike much of Central America, Panama boasts a first-class healthcare system with low costs compared to the United States. A doctor's office visit costs about US$15.
Panama has by now attained world class tax haven status. Indeed, in many respects, including financial privacy, solid asset protection and freedom from outside political pressures, Panama has moved to the head of the class.
Panama is in much better shape financially than its Central American neighbors to the north, or Colombia to the south. Between 1955 and 1998, inflation averaged only 2.4% per annum. Annual inflation has averaged 3.2% for the past 30 years, much lower than in the United States.
In many ways, the Republic of Panama is ideally suited for the offshore investor who wants to enjoy the increasingly rare privileges of strong, legally guaranteed financial privacy and no taxes, either corporate or personal.
The 2006 A.T. Kearney/Foreign Policy Magazine Globalization Index ranked Panama first in Latin America and 24th in the world, up three slots from 2005, based on such factors as trade, investment flows and Internet use.
Regardless of nationality, investors often discover Panama while surfing the Internet, and then are attracted by government incentives like discounted loans and a 20-year moratorium on real estate taxes.
A Chunk of Americanized Capitalism - the Size of South Carolina
At 30,000 square miles, about the size of the State of South Carolina, Panama offers urban living, Atlantic and Pacific beaches, tropical forests and coffee-growing highlands.
The European air of the Spanish-speaking country reflects its colonial history, but American influence can be seen in its supermarkets, malls and currency. The balboa, fixed at a one-to-one ratio with the U.S. dollar, is the official currency, but only coins are minted. U.S. Dollars are used in all transactions.
Many North Americans in Panama are seeking retirement homes where they can save money. Europeans, generally younger and wealthier, are drawn by the investment potential as much as by the lifestyle.
The exchange rate - 80 euro cents or 55 British pence to one balboa - means bargain prices, often prompting purchase of more than one property.
It is easier for foreigners to enter Panama than the United States, especially since 9/11. One Panamanian broker points out that Panama offers everything Florida does, but without the Miami airport security hassles or the hurricanes. Plus, it's only a couple hours farther away by air.
Skyscrapers Sprouting Up Like Weeds
Construction in the country of 3.2 million people is booming. The capital's skyline already is a forest of dramatic skyscrapers. Building permits jumped 91% last year with new projects announced almost daily. There has been much talk recently about the so-called "real estate bubble" having begun to deflate. But Juan Carlos Navarro, the mayor of Panama City, is very optimistic. He noted that there are 170 buildings under construction in the city, 120 additional building plans approved and another 90 pending approval. In total the city already has issued US$1.1 billion in construction permits.
With so much real estate activity, the word "overheated" has been heard, along with reports that many high-rises are going empty. Three major residential tower projects in Panama City have been either postponed or canceled in recent weeks, raising concerns that hype may be outrunning the realities of the market.
The three tower projects, Palacio de la Bahia, the Ice Tower and Park 32, were among the most discussed and ambitious developments in the country. The Ice Tower was planned for 104 stories. Palacio de la Bahia was 97 stories and Park 32, the latest to shut down, was planned for 54 stories. Each offered luxury residential units priced at US$300,000 (�217,000) and above.
"I'm being told that the developers still plan to build on the lots, however with completely different designs," said Jessica Ramesch, who writes the Panama Insider newsletter for International Living. She downplayed talk of the bubble bursting in the market, noting the three projects represent only a small percentage of the 380 projects under construction in Panama.
A government-backed industry commission met last week to discuss the real estate issues, focusing on speculators. There was a discussion about protecting the buyers, but the local consumer protection agency only offers assistance for what they term "true consumers and not investors."
Risks Exist, But You Can Still Find Bargains If You Know Where to Look
The message is clear. If you have invested in Panama City real estate or are planning to invest in the city, don't expect any help from the government if things turn out badly. It is equally clear that much of the run up in prices and building activity is being fueled by speculation.
This speculation has been encouraged and actively sought out by the local real estate industry. Now that things appear to be overheating, these very investors and speculators are being blamed for the problem. Investors and speculators understand risk and they know the rules of the game.
But to say they are the cause of the "problem" in Panama City is a bit disingenuous, according to Paul Bride of Prima Panama, a tourist and real estate agency.
But Panama City is only half the population and in many more rural areas, such as mountainous Boquete in Chiriqu� province, there are bargains still to be had. My advice on Panama still is - come on down.
BOB BUAMAN, Legal Counsel
'LT Investor Thank you
The PDF of the actual Senate record on Naked Short Selling:
http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=2007_record&position=all&page=S96....
stockasaurus rex What?
Are you smoking something man.
888888888888888888888888888888888888888888888888888888888888888
StockSniper seems to me
that MT is introducing a new way to do business which IMO has the potential to be the next biggest financial instrument used Worldwide. He is a genius.
***********************************************************
None of us knows anything for sure....but I think it's ok for me to repeat what MT told me about the mortgages they are planning for. He said they will be interest only....but the interest will go back into our PDR accts. I assume we will pay a set up fee and perhaps maint. fees but like I said...nothing is for sure at this point. It does seem very exciting to me.
Can you imagine the opportunities this can open up for us?
We can borrow money for a home using our PDRs as collateral. That means we don't have to sell them.....so not only do they continue to appreciate while we enjoy a home or investment property...but we don't have to pay capital gains tax on them (since we have not sold them)
On paper we are paying interest...but it's our money which is at stake since our PDRs are collateral for the loan.....so the interest goes back to us. The lender has no liability since they can simply liquidate your PDRs in case you default. I am just speculating here....but MT did say the interest only payments would go back into our accts. The details are unknown but the potential of all this is incredible.
Evade Taxes your kidding
How about our elected US Government people who have all their US assets in the Cayman Islands and elsewhere. Yes our elected people who avoid paying taxes in their own country. Ask them about ways to evade paying taxes.
********************************************************
true but discussing ways to evade taxes is NOT
Naked Short Selling
from Trackygirl514
http://bennett.senate.gov/press/record.cfm?id=279519
http://biz.yahoo.com/iw/070727/0283389.html
tax_man now your on to something
from the PR I like these parts. If the Company Pavc is on target as they say they are in the PR then the SP will can be well above One Dollar IMO.
The Company also wishes to inform its shareholders we have confirmed
the roll out of additional stores from part of the 25,000 described above.
We anticipate this roll out to happen within the next quarter and will add
up to another 2,500 stores to our present total. This rollout, when
complete, will contribute 50% to our core product revenue stream.
-- Launch of our new "Live" card products line is on schedule for the
previously announced fall roll out. We expect this line to add a minimum of
$6,000,000 in annual revenue.
*******************************************************
In Paivis' latest biz "update" they said they've added 1,500 locations since January 2007, and since the year is half over, that reasons that they're on track to add a total of about 3,000 this year... yet they're claiming they'll add 18,000 in 2008 to reach a total of 25,000?
That's quite a jump, isn't it? To go from a year where all your efforts result in the addition of 3,000 locations to a year in which you add 6x as many (18,000; 7,000 through 2007 plus 18,000 in 2008 = 25,000 total) as the year before?
And since most folks have such short memories these days, all Paivis will have to do come July of next year if they've only added another couple thousand locations instead of the 9,000 new locations they'd logically need by mid-2008 is release another PR saying something like, "We are on target with our growth plans and nearing completion of two acquisitions which should add a total of $14 million annually to our operating revenue and blah, blah, blah." They could conveniently overlook their past missed promises and just make a series of new ones. No harm, no foul.
Then folks here would take those statements and claim, "See! Now, THAT's a great PR. Paivis is growing its revenue and executing their growth plan. What more could you ask for???"
All I know is I will NOT be sidetracked when their next earnings announcement is released. THAT will hold the truth. If they're moving backward, increasing expenses by a greater amount than they're growing revenue, then this is a DOOMED investment, but if the 10Q does show real progress, and by real progress I don't just mean increasing revenue -- I mean decreasing losses -- then I'll gladly jump aboard the pro-Paivis bandwagon looking toward the company's future.
The Company’s product are currently available at 5,500 locations nationwide, an increase of 1,500 since January 2007. The Company is looking to continue expansion of the Company’s distribution channels by rolling out products to a total of 25,000 locations by the end of 2008.
'tax_man I understand
they want to merge with I-Hub and have serfdom as CEO with you as CFO and tracky in head of the Financial Analysis Dept.
me I am the IR guy. LOL
Thanks tax man
Nevermind... I found it. Here it is, and I stand corrected. TD Ameritrade is NOT one of the defendents in the case. Guess that means they aren't as bad LOL: http://investorshub.advfn.com/boards/read_msg.asp?message_id=21349957
tan man do you have the link
For that I would like to read it.
Thanks
raggs move to Bank of America
A lot of us have. get rid of the corrupt brokers.
welcome our new moderator trackgirl514
The best to you tracky
poiuyt20011 do you hold a poisiion in PAVC
Just curious.
This is just a shareholder update
It does not mean that this is the end of the News.
Great News could come out at anytime. If I remember correctly aren't they EFGO still in China?
poiuyt20011 do you hold a poisiion in PAVC
Just curious.
Third Quarter will tell the story
they expect to be in the black for the second Quarter and we were in the black by .0005 per share for the first Quarter if I remember corecty.
07.25.07
Garr Winters’ Shareholder Update
Posted in Uncategorized, Announcements, Investor Relations, Management Reports at 1:29 pm by Andrew Edwards
To all of our shareholders, and stakeholders,
I would like to take the time to review and update where we are as a Company, and provide a big picture perspective on our business development strategies and achievements. My last update was in early February, and it seems like light years ago. We have continued our efforts at diversification, and identified new markets we believe have a strong potential to grow our top-line revenue. We have acquired two financial services companies, and made significant inroads into expanding our international markets – particularly China.
Corporate News:
There is a lot of big news on the corporate affairs front. In addition to our busy acquisition activity, we are very excited about the upcoming categorizations of issuers trading on the Pink Sheets. Listed companies will now be categorized by the quality of the public disclosure of activities to the marketplace. As we have previously announced, we have submitted or are in the process of submitting all of the required information to qualify as a ‘Pink Checkmark’ company – the highest level available to Companies that do not meet the very strict NASDAQ Capital Market requirements and stock price requirements.
Pink Checkmark Listing:
As noted by Pink Sheets; disclosure requirements are stringent. A Pink Checkmark Company must either be registered with the SEC pursuant to 12(g) of the Exchange Act and current in all electronic filings posted on the SEC’s EDGAR system, OR if not registered with the SEC, must meet Pink Sheets Guidelines for Providing Adequate Current Information, confirmed by a quarterly letter from an attorney, all of which must be posted on the Pink Sheets News Service and displayed on pinksheets.com. Disclosure is deemed to be current if it is posted within 120 days of the fiscal year ended (annual reports) and within 60 days of the quarter ended (quarterly reports) and interim material events should be disclosed on a timely basis.
We view this as a watershed event for both the Pink Sheets and our Company. The Pink Sheets have aggressively been reinforcing disclosure requirements to provide greater credibility to the stocks traded on the Pink Sheets. We are excited about this significant new measure. We believe that investors will effectively be warned away from shell companies that have no real operations, and whose business prospects are completely reliant upon raising significant capital before any business operations can begin.We believe this categorization process will significantly differentiate Pink Checkmark companies, and provide greater assurance and confidence for Pink Sheets investors. As such, we anticipate that investment dollars will increasingly flow to higher tier companies, and provide greater credibility for investor awareness activities regarding these companies.Additionally, as most of our investors are aware, Esprit has been trading on an unsolicited bid basis. It is remarkable, therefore, that our stock has maintained excellent liquidity. This new categorization process will see us jump from an unsolicited bid basis to a Pink Checkmark company, a very significant difference in credibility for potential investors who have not followed the stock in the past.This is an excellent opportunity to broaden our shareholder base. As we believe we will start to see revenue generated from some of our new initiatives in the third and fourth quarter, we hope to see positive momentum in our valuation by the market.We will be releasing our second quarter results in the near future, and anticipate that we will be in the black for the second straight quarter. We do not anticipate reporting significant increases in revenue from new operations as yet, but we believe we are on track in terms of our previous guidance that these new revenues will start to come on-stream in the third and fourth quarter of this year.
Frankfurt Exchange: Our listing on the Frankfurt Exchange also merits our attention as a business measure designed to help broaden our shareholder base. We are currently in the process of putting together an investor awareness campaign in Germany to achieve this. There have been some misconceptions regarding a minimum trading price required for the stock to trade on the German Bourse. However, the reality is that there are no minimum stock price requirements, and we are ready to launch the campaign within the next few weeks to increase investor awareness of the fundamental strengths of our Company’s operations.
Acquisitions:
Esprit has been aggressive in identifying new opportunities for growth in line with our core competencies. This has led to two significant acquisitions in the past few months.
Esprit acquired Global Vision on April 16th, as it was an excellent fit into our core competencies of internet-enabled sub-prime financial and business solutions. We were specifically interested in its intellectual properties, processes and services which included Check 21 processing, electronic funds management and international transfer capabilities and pre-paid cards.
Esprit merged the electronic fund management systems of Global into our new AEFM division and in a strategic and a prudent move then sold Global Vision off as a shell company to private interests.
Importantly, Esprit retained a 23.67% interest in Global.
Subsequently, we were introduced to Robert Xu, founder of International Express Payment (Jiangxi) Corp. A June trip to China to conduct due diligence identified a number of excellent business opportunities that Esprit will pursue aggressively. Foremost was the acquisition of IexPay’s sister Company, Check 21 China, founded by Robert Xu and Peter He. This was very much in tune with our business model and a perfect fit for Esprit. Check 21 China’s focus is on rolling out ‘Check 21′ services to its client base of Chinese banks. This is a service that can be rolled out and begin delivering revenue in a relatively short time-frame. To date, a total of approximately 30 banks have expressed interest in ‘Check 21′ services.
‘Check 21′ service is particularly attractive for international financial transactions paid by U.S. denominated checks, and shortens the time frame required to clear these check from a typical 30-45 days to 3-4 business days.
Esprit decided to acquire Check 21 China, a transaction that was completed this past month. Our acquisition of Check 21 China is a huge accomplishment. We are very excited about the opportunity that this acquisition presents in terms of developing our business in China. The Check 21 business is just hitting a momentous growth phase in China and a number of other developing markets. We have an outstanding team working in this industry and foresee a very significant growth in our business.
In addition, while management felt that IexPay represented a compelling business opportunity, it was decided that we did not have the resources to acquire the Company and provide the funding necessary for it to grow to the next level. However, Esprit was able to arrange a reverse merger of IexPay into Global Vision Holding, Inc., which will be completed shortly. With this acquisition, not only was IexPay delivered into friendly hands but Esprit now can benefit from the upside business potential of IexPay.
On July 5th, Esprit provided a $250,000 debenture financing of GVHL. This initial bridge financing further cements our relationship and Esprit will be able to share expenses and resources with Global as both companies develop the respective businesses in China. This is a win-win for both companies. They share a very similar client base, and Robert Xu can continue to development business opportunities on behalf of both companies simultaneously. Negotiated cost sharing arrangements give Esprit use of two business offices (one outside Beijing and a second in Jiangxi province) with a staff of dedicated software engineers and a local office management capability. Travel expenses are also being shared between the two companies.
Importantly, the stock warrants attached to the debenture provide an upside opportunity to participate more fully in the company’s success in the longer term. We expect that there will be dilution of our position as Global raises the needed capital to develop operations and acquire a critical mass of Banking and Merchant clients on one hand, and a consumer base on the other. The stock warrants provide an avenue to increase our stake in Global under very favorable terms should business accomplishments merit conversion from debenture to equity.
Ongoing Operations:
In terms of ongoing operations, I am delighted to say that we are on track with almost all of our announcements made in the last few months.
PayDay Loan Operations:
Cash Now has shown steady and continuous growth. The Company is working on a couple of new business prospects that would make meaningful contributions to our sales revenue for the last quarter of the year. We caution that these are not ‘done deals’, and it’s not ‘done’ until the checks clear. We will keep shareholders advised with appropriate information as these opportunities develop.
The Cash Now Payday Loan software which we began testing from May 28th in Beta mode is now 80% complete. We expect to go live with the new platform towards the end of the third quarter this year and look forward to this upgrade. The new software will also allow us to add new language and currency modules without extensive reprogramming to the core system. This will help further our objectives of expanding into new international markets in line with our previous announcements.
Advanced Electronic Funds Management
Our Advanced Electronic Funds Management division is showing great promise. With the acquisition of Check 21 China, we have established a first mover advantage in the Chinese market. While Check 21 is being increasingly adopted in the United States, it is quite a new concept internationally.
There is very significant latent demand for this service and we have received an overwhelming response from Chinese banks for our service. Check 21 China will help revolutionize the way dollar-denominated cheques are processed and cleared. From the current 2-3 weeks of time frame for a typical U.S. denominated check to clear, Check 21 will accelerate the process tremendously, with funds being cleared within 2-3 days. With Robert Xu as our consultant, we expect to grow our business substantially in this market.
Check 21 China represents an opportunity for the company 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.
Forex Division:
On the Foreign Exchange division, we are making steady progress. We have had some management changes recently. Due to health reasons, Richard Sciacchetano, head of our Forex division, has not been able to head the division on a full-time basis. He will however, continue as a consultant and an advisor in a reduced capacity as he continues to recuperate. In the meantime, Peter Presland has taken over the management of the Forex division in his stead, and we continue to move forward.
As recently announced, we have obtained acceptance as a member in the National Futures Association, the industry-wide, self-regulatory 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. This is an important step forward for our Forex trading division.
We are also still on track to achieve our series 3 license in the near term. These accomplishments will significantly improve our scope of operations within the Forex market. Once we have our licence, we will be in a position to develop a wider range of operational activities and initiate a more aggressive marketing approach to drive the business forward.
Structured Debt Resolution:
This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default. We have mapped out a staged development process for developing this division. Initially, much of the software capabilities will be built on our new PayDay loan platform. This will provide us with an entrée into the market.
We envision a second stage development process that will add considerable functionality to the software, and will be a major upgrade requiring a substantial commitment of development and marketing funds. We plan to be in a position to make a ‘go/no go’ decision by the year-end or early in the first quarter of 2008. This decision will be based on an assessment of our product portfolio and opportunity costs at the time.
Looking Forward:
Those who have been following our progress this year will recognize that we have been quick and aggressive to seize on opportunities that fit our core competencies, and we will continue to allocate funds based to the best potential ROI business opportunities for our investors.
China is a huge opportunity, and we are devoting a lot of time and attention to take full advantage of the window of opportunity that has been provided by Robert Xu and his team.
While we are focusing on consolidating our core business, we are not ignoring various other business opportunities which will further strengthen our base as a provider of internet-enabled financial and business solutions.
2007 has been shaping up to be a watershed year for EFGO. Our team is excited and pulling long hours to keep things on track. I have to thank them all for their continued hard work and dedication, as well as their belief in Esprit as we move forward to reach new business milestones along our path to becoming a much bigger company!
I box updated
EOM
Well I posted yesterday
That IMO PAVC was a buy and that their business plan is on track.
Yes the next financial report is important but more important is PAVC is way undervalued and as you can read they have a game plan. Anyone thinking of selling IMO should think again and read the PR.
Jul 24, 2007 -- Paivis Corp
http://biz.yahoo.com/iw/070724/0281809.html
Management looks forward to pursuing its corporate and operational goals for the benefit of the Corporation its shareholders. The Company has made solid progress on its business initiatives, including the following:
The Company has made significant progress with our acquisition targets
and look forward to providing more information to our shareholders shortly.
Good things are coming
IMO on the business front. PAVC is a BUY.
brian yes IMO
i have been stating that IMO EFGO is shorted legally and not legally Naked Short Selling
http://www.otcbb.com/asp/OTCE_Short_Interest.asp
4Godnwv I agree but
As I posted posters have to be shown what they are. I have an investment in PNMS PDR's Fill the Gap says he does not hold a position, yet posts that this company is a Scam with no facts or links to back up his statement. This is wrong and he has to be held accountable for his credibility as a poster.
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The issue with the domain names seems a bit overdone to me.
My take is that the real issue here is the explosive growth of Panamersa over the last few months. How do you take a basically one man operation to a multi-country, multi-faceted concern?
If you were the CEO of small company you'd pick up the phone, or pull up an internet browser, and with a few keystrokes you'd find an available domain name and pay Network Solutions (or their counterpart) to register the domain name for you.
As you grow, you obviously have to add people. But who? How do you delegate? Which people within the organization are acclimated to what functions? These things take time to develop. (Except in the movies)
People make mistakes, and someone made one here. Getting the cart before the horse is indicative of growing pains, imo.
The following post by CIDD seems a logical explanation:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=21364435
'fenian I am not asking you
You can read the post is for Fill the Gap to answer.
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Fact. no money has been made in the pdr exchange.
Fact.if real money had been made where is it? 2 weeks are long up!
nother Fact.pdr exchange suppose to be up and fully running not just 79 percent running.money flows in and certs flow in...nothing flows out!
Fact. i own 1 pdr and 27 million shares...
wonder why fill the gap would call this a scam?
humm i am puzzeled...since everything is working and proven!
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Poster have to be held accountable
Fill the Gap has still not answered my question why he calls PNMS a Scam and he denies saying this in an earleier post to me.
I have an investment in PNMS PDR's. Posters who post accusations like Fill the Gap with no facts or links should be held accountable IMO and labeled as a Basher out for his own personal greed. He is not here to add anything of value either positive or negative.
Posted by: FillTheGap
In reply to: LH1 who wrote msg# 80289 Date:7/18/2007 6:46:02 AM
Post #of 80562
I started looking at the sites last night. Nobody owned them. Why? Only one reason I can think of. I bought that around midnight and had it up in less than 10 minutes.
Unreal. I'm going back on my soap box and saying this is a scam. Absolutely unreal.
I won't be online until later today. Son has a golf tournament
and I'm his caddy today.
GLTA and see you then
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Posted by: herbalife13In reply to: herbalife13 who wrote msg# 80511 Date:7/18/2007 5:34:46 PMPost # of 81132
FillTheGap
Gut feeling no Facts A lot of people here have money invested as i do. You post you have no facts. How credible is that and you bash the PNMS company?Why?
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Fill the Gap post
If you check my earlier post (last week?) I have no facts this is a scam. I also don't think I said it was a scam today in any post.Just following my gut. Know what I mean?GLTY... I hope you and the rest make some dollars here.
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herbalife post
FillTheGap
I have noneI do hold a position on the PDR Exchange as well as others here. Do you?Do you own any PNMS shares?I want to know anything with facts and links to back them up why you consider this stock a SCAM.I will wait for your facts.
Poster have to be held accountable
Fill the Gap has still not answered my question why he calls PNMS a Scam and he denies saying this in an earleier post to me.
I have an investment in PNMS PDR's. Posters who post accusations like Fill the Gap with no facts or links should be held accountable IMO and labeled as a Basher out for his own personal greed. He is not here to add anything of value either positive or negative.
Posted by: FillTheGap
In reply to: LH1 who wrote msg# 80289 Date:7/18/2007 6:46:02 AM
Post #of 80562
I started looking at the sites last night. Nobody owned them. Why? Only one reason I can think of. I bought that around midnight and had it up in less than 10 minutes.
Unreal. I'm going back on my soap box and saying this is a scam. Absolutely unreal.
I won't be online until later today. Son has a golf tournament
and I'm his caddy today.
GLTA and see you then
*************************************************************
Posted by: herbalife13In reply to: herbalife13 who wrote msg# 80511 Date:7/18/2007 5:34:46 PMPost # of 81132
FillTheGap
Gut feeling no Facts A lot of people here have money invested as i do. You post you have no facts. How credible is that and you bash the PNMS company?Why?
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Fill the Gap post
If you check my earlier post (last week?) I have no facts this is a scam. I also don't think I said it was a scam today in any post.Just following my gut. Know what I mean?GLTY... I hope you and the rest make some dollars here.
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herbalife post
FillTheGap
I have noneI do hold a position on the PDR Exchange as well as others here. Do you?Do you own any PNMS shares?I want to know anything with facts and links to back them up why you consider this stock a SCAM.I will wait for your facts.
'FillTheGap Gut feeling no Facts
A lot of people here have money invested as i do. You post you have no facts. How credible is that and you bash the PNMS company?
Why?
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If you check my earlier post (last week?) I have no facts this is a scam. I also don't think I said it was a scam today in any post.
Just following my gut. Know what I mean?
GLTY... I hope you and the rest make some dollars here.
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FillTheGap I have none
I do hold a position on the PDR Exchange as well as others here. Do you?
Do you own any PNMS shares?
I want to know anything with facts and links to back them up why you consider this stock a SCAM.
I will wait for your facts.
Lawsuit on Naked Short Selling
Ostk wins in California against hedge fund prime brokerages!
SALT LAKE CITY, July 18 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK) (http://www.overstock.com) announced today a favorable ruling in the lawsuit pending in the Superior Court of California, County of San Francisco against most of the largest prime brokerage firms in the country, including Morgan Stanley & Co. Incorporated, Goldman Sachs & Co., Bear Stearns Companies, Inc., Bank of America Securities LLC, Bank of New York, Citigroup Inc., Credit Suisse (USA) Inc., Deutsche Bank Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., and UBS Financial Services, Inc.
On July 17, 2007, Judge John Munter of the California Superior Court for the City and County of San Francisco ruled that Overstock and it co-plaintiffs have stated viable claims for market manipulation under California securities law, for common law claims for conversion and trespass to chattels, as well as for injunctive relief under California's Unfair Business Practices Act against the defendant prime brokerage firms based on those defendants allegedly executing naked short sales of the stock of Overstock with the intent of manipulating the market price for the shares of those companies' stocks. In addition, the Court granted Overstock (and its co-plaintiffs) leave to amend other of their claims for restitution under the Unfair Business Practices Act and for the common law claim of interference with advantage, to more specifically plead the factual basis of these claims.
In so ruling, Judge Munter rejected defendants' claims that Overstock's complaint is preempted by federal law and that 'phantom' shares are not created by naked short selling of a company's stock as a matter of law.
"This is a huge win for us," said Jonathan Johnson, Overstock Senior Vice President of Legal. "We are eager to start discovery and move this case to trial. The day we expose in detail the defendants' misconduct to a jury will be a good day for Overstock, its shareholders and the capital markets."
"As I listened to defendants' counsel argue that phantom shares don't exist because the SEC says they don't exist," said Patrick Byrne, Overstock Chairman and Chief Executive Officer, "I was reminded on Abraham Lincoln's favorite joke: 'If you call a tail a leg, how many legs does a dog have?' 'Five?' 'No, four -- because calling a tail a leg doesn't make it a leg.' Defendants create phantom shares by facilitating naked short selling and other types of trades which result in failures-to-deliver. This is manipulative and illegal -- regardless of what the industry's all-too-cozy regulatory agency says. The battle to clean up Wall Street is only going to be won when it is brought to a jury of 12 Americans. Today was a giant step towards that goal."
The suit alleges that the defendants, who control over 80% of the prime brokerage market, participated in a massive, illegal stock market manipulation scheme and that the defendants had no intention of covering such orders with borrowed stock, as they are required to do, causing what are referred to as "fails to deliver." The suit also alleges that the defendants' actions caused and continue to cause dramatic distortions with regard to the nature and amount of trading in the company's stock which have caused the share price of the company's stock to dramatically drop. The suit asserts that a persistent large number of "fails to deliver" creates large downward pressure on the price of a company's stock and that the amount of "fails to deliver" has exceeded the company's entire supply of outstanding shares. The company is seeking damages of $3.48 billion.
Lawsuit on Naked Shorrt Selling
Ostk wins in California against hedge fund prime brokerages!
SALT LAKE CITY, July 18 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK) (http://www.overstock.com) announced today a favorable ruling in the lawsuit pending in the Superior Court of California, County of San Francisco against most of the largest prime brokerage firms in the country, including Morgan Stanley & Co. Incorporated, Goldman Sachs & Co., Bear Stearns Companies, Inc., Bank of America Securities LLC, Bank of New York, Citigroup Inc., Credit Suisse (USA) Inc., Deutsche Bank Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., and UBS Financial Services, Inc.
On July 17, 2007, Judge John Munter of the California Superior Court for the City and County of San Francisco ruled that Overstock and it co-plaintiffs have stated viable claims for market manipulation under California securities law, for common law claims for conversion and trespass to chattels, as well as for injunctive relief under California's Unfair Business Practices Act against the defendant prime brokerage firms based on those defendants allegedly executing naked short sales of the stock of Overstock with the intent of manipulating the market price for the shares of those companies' stocks. In addition, the Court granted Overstock (and its co-plaintiffs) leave to amend other of their claims for restitution under the Unfair Business Practices Act and for the common law claim of interference with advantage, to more specifically plead the factual basis of these claims.
In so ruling, Judge Munter rejected defendants' claims that Overstock's complaint is preempted by federal law and that 'phantom' shares are not created by naked short selling of a company's stock as a matter of law.
"This is a huge win for us," said Jonathan Johnson, Overstock Senior Vice President of Legal. "We are eager to start discovery and move this case to trial. The day we expose in detail the defendants' misconduct to a jury will be a good day for Overstock, its shareholders and the capital markets."
"As I listened to defendants' counsel argue that phantom shares don't exist because the SEC says they don't exist," said Patrick Byrne, Overstock Chairman and Chief Executive Officer, "I was reminded on Abraham Lincoln's favorite joke: 'If you call a tail a leg, how many legs does a dog have?' 'Five?' 'No, four -- because calling a tail a leg doesn't make it a leg.' Defendants create phantom shares by facilitating naked short selling and other types of trades which result in failures-to-deliver. This is manipulative and illegal -- regardless of what the industry's all-too-cozy regulatory agency says. The battle to clean up Wall Street is only going to be won when it is brought to a jury of 12 Americans. Today was a giant step towards that goal."
The suit alleges that the defendants, who control over 80% of the prime brokerage market, participated in a massive, illegal stock market manipulation scheme and that the defendants had no intention of covering such orders with borrowed stock, as they are required to do, causing what are referred to as "fails to deliver." The suit also alleges that the defendants' actions caused and continue to cause dramatic distortions with regard to the nature and amount of trading in the company's stock which have caused the share price of the company's stock to dramatically drop. The suit asserts that a persistent large number of "fails to deliver" creates large downward pressure on the price of a company's stock and that the amount of "fails to deliver" has exceeded the company's entire supply of outstanding shares. The company is seeking damages of $3.48 billion.
FillTheGap I have none
I do hold a position on the PDR Exchange as well as others here. Do you?
Do you own any PNMS shares?
I want to know anything with facts and links to back them up why you consider this stock a SCAM.
I will wait for your facts.
Captskip Pinksheets is not the
answer IMO, MM's will find a way around it. The system is to corrupt.
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Question for the Board: what impact will the pink sheets new classification and symbols mean for EFGO, assuming we are in the top tier?
Do any think more money will flow from stinker stocks to top tier stocks like EFGO?
TIA
lindy and others complain to the
NASD, if enough complains go in they may take action.
http://www.nasd.com/index.htm
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So if you are still using Etrade....realize that they are crooks and the penalty for using their cheap service is to have your money taken and a big slow runaround when it comes time to deliver the product you purchased. I visualize them sitting around boiler room style writing these answers and having a huge laugh at the sheep. Reminds me of Bill Clinton sitting in the oval office conducting the business of the Americans who voted for him while having sex with teenage interns. Gross misuse of power. Lindy
Dear Ms. C,
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Just a reminder Beijing Based Bank
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Pilot Project Of The Worldwide EFT+ Services in China with a Beijing Based Bank
LAS VEGAS, June 12 /PRNewswire-FirstCall/ - Esprit Financial Group Inc.'s (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com senior management team had the pleasure of touring the offices and meeting the staff in the Beijing office of International Express Payment Corp.(IEXPay), as well as touring the recently announced EFGO office space.
The first meeting with a well known Chinese bank, with over 150 branches primarily in the Beijing area, took place today. The initial meeting went smoothly, and discussions suggested that there will be interest in Cash Now Worldwide EFT+ services on a pilot project basis, or the Check 21 clearing service as it is commonly known in the industry.
China clears a very large number of USD denominated checks, and the ability to reduce the time required to clear these checks from several weeks to a mere 3-4 business days struck a very strong chord. Initial analyses suggest the revenue potential from this service alone could reach USD $12 - $15 million.