check this out....just found it on the net........
Revisiting Cash Now Corp.
Thomas J. Catino
2/27/2007 9:33 AM EST
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We first took a look at Cash Now Corp. (OTC: CHNW) in late January when it popped on to our radar after having a late day surge in volume. It was the latest sub penny stock to garner a lot of attention, attracting micro cap investors with volume and news. The company, engaging in the manufacturing and distribution of customized payday loan and check cashing software, announced that it had replaced its CEO and reported the resignation of one of its board of directors. Besides re-hauling its management team, the company re-tooled its business model by announcing entry into the Forex market.
As the company ramped up its PR machine, the stock moved up another tick out of the cellar, but disappointingly had to trade nearly 1.1 billion shares to do so. The stock went on to trade for a couple of weeks with minimal move in share price... that is until recently.
The market's appetite for Cash Now shares has increased as the company has quickly unveiled plans to move into the Forex market. The company has signed an introductory broker agreement with Advanced Markets Inc. and is in the late developmental stage of offering an innovative Retail Forex trading platform. Cash Now also announced it has retained an agent to assist in locating a full service broker dealer agency for acquisition to be able to offer a full service range of Forex products and services to its clients.
This appeared to be an interesting story unfolding, and so we went straight to the source to find out more. Here is what a corporate spokesperson told Ant & Sons;
The corporate name and CUSIP number change will happen once the legal work is complete. In regards to ongoing inquiries on the potential of a large short position in the company's shares, it was confirmed that the company has identified a short position, and as of a few weeks ago, that short position is estimated to be approximately 1 billion shares (we have not been able to verify this number.)
Over the next few days, the news flow should continue to be rather steady, updating shareholders on previous corporate developments. One fact to hold on to is that the share structure numbers that were last posted on the Pink Sheets website, remain the same, indicating that there has not been any dilution in the past few days (coincidentally that is when the share price has started to rise substantially). Brace yourself, nonetheless, because the numbers are quite substantial. The authorized share count stands at 5 billion shares, with 4.3 billion shares outstanding and a publicly traded float of 3 billion shares. However, we are not sure how long those counts will stay the same as the company reported this morning that it plans to compensate its executives not with a cash salary, but with shares of common stock.
As with all stocks with a similar share structure trading at these levels, it is difficult to not sidestep the fact that Cash Now is a risky and speculative sub penny stock play. So be careful. In the short term, this will likely see some upside (possibly similar to the run in shares of iFinix Corp.) and no doubt become a trader favorite because of the high volume that has made it a more liquid security. The tremendous amount of buzz surrounding Cash Now and future press releases will also help. Yet in the long run, it is all up to Cash Now to be able to execute on its plan and most importantly, start showing some earnings to create shareholder value.
The author does not have a vested interest in shares of Cash Now Corp. (OTC: CHNW)
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