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ooooooooops, my was ask @ .0002 sorry, brain dead ...................................................................................................................................................^........^........^........I'm back, whew!!!!
I bought at .0001 about 2 wks back. got about 13ml. I think. I'll check and get back to you if different.
(Garr)He will comment shortly on the Town Hall himself.
10.11.07Garr/Minaco-TradeX sharesPosted in Announcements, Investor Relations at 10:05 pm by EricTheRed
QUESTION:
I think that is great news that Garr will be here next year to continue to run the company.Some concerns after reading these post need answered.
I thought the preferred shares were only 2000, obviously Gar can not live off of a portion of these. So how many shares do Minaco-TradeX own and how/when did this happen?
It was stated these shares are the same as our common shares only with 30,000: 1 voting rights. Again how can he live off that.
Still concerned about losing my share count after the O/S has double since buying my shares, giving me ½ the percentage to O/S I had before.
RESPONSE:
First, we must clarify that he has not agreed to stay and run the Company. We are discussing an ongoing role in the Company. However, he has other business interests that will conflict with him staying on a full-time basis. He will comment shortly on the Town Hall himself.
To the first question, Garr is a very successful businessman. He does not need to sell shares to survive financially. That is why he turned the shares back to the Company. To be able to sell a few shares in bits and pieces is not worth the trouble (as an insider there are still stiff restrictions on the number of shares he can sell). He does, however, deserve to be compensated for all of the work he has done. If and when we close some of the major deals on the table, he will have earned the right to be properly compensated. That is the intent of transferring dome of the preferred shares to him. That provides the opportunity for him to be compensated in the future. Both the Company and Minaco-Tradex have recognized this factor, and this is the simplest way to provide compensation at a future date commensurate with his actual performance.The preferred shares are preferred in only one respect, and that is their multiple voting rights of 30,000,000 per share. There is no current market for them. They were issued to Minaco-Tradex exactly as announced. There are only 2,000 issued. They are currently all held by Minaco-Tradex. The transaction to transfer a portion of them to Mr. Winters has not yet been executed. All parties are acting simply on good faith.
As for your last question, the answer is also straightforward. While your percentage of the Company may be less than it was, we believe the assets acquired have added substantially more than the dilution factor. Like the age old addage; Would you rather have 100% of nothing, or half of something valuable?
Esprit will either grow, or wither on the vine. Under Garr’s leadership, the Company has taken an aggressive approach to growth, by diversifying into new areas that trade on the Company’s core competencies. Obviously we can’t expect to hit a home run on every single initiative. However, we have had a lot more opportunities ‘at bat’ since the strategic change. If only one deals works out well, the Company will be far ahead of where it would have been. We believe our actual batting percentage is going to be a lot more respectable than that.
Once we start closing contracts on the table, we should be able to silence all the naysayers. In the mean time, all the ‘chicken little contingent’ has been able to do is scare away a couple of potential deals with their endless criticisms, as well as potential new investors.
We look forward to the opportunity to shut them up once and for all. Why a shareholder would constantly complain while insisting they are ‘long’ is beyond us. If they think Esprit is such a terrible Company, sell and move on. Be a man, take your loss, and go invest brilliantly somewhere else.
Otherwise, be quiet and give us a chance to prove the value of what we are working on. Remember, when Xerox made the first duplicating machine, they thought it was a solution to a question that no one had asked, and expected it to go nowhere. Whoops. That turned out to be a bit of an under-estimate. Everyone wrote off Apple, until they came back.
Enough said.
Yes, it was a HUGE day today. LOL :~>
Time & Sales
Price Size Exch Time
0.0002 1525000 OTO 12:41:04
0.0002 5000000 OTO 12:39:02
0.0002 50000 OTO 11:40:42
0.0002 100000 OTO 09:54:29
WBX, have you been able to sell any shares at .0002? Seems like there aren't any no retail sells going through.
D/C no I don't know that for Sure. LOL
Thanks Dawg!
Answer accepted, thanks! LOL
Vols any word on the Pres. message?
Thanks for sharing!!!!
Sorry, I gave the wrong one they answer me on in the comments, It was the "check21" question.
Garde, my scottrade spreadsheet was not updating efgo, Trying close it out and relauching it. Work for me! :>}
I post, some times they answer in comments, like the "I’m behind you EFGO! [Reverse Split]" I commented and Admn answer under comments, also some times they just post your comment.
I agree with ThaMsgt,like I said this morning, We need to commit about every post so the company knows our feels, whether they do anything after is another thing.
If you look under comments the darker ones are the ones they have posted to the board, either under comments or posting them.
You see my opinion on R/S and R/M, every time it comes up.
If you list it as a comment you can find it under site admn,then comment. If you leave it as a post, your correct it stays in draft until they decide to do something with it.
I try to leave in comments so it shows up for everyone to read even if they don't post it.
Hey Tha, it looks like they may have added more info on their check21 system, in pinks, under info, then Management Discussion and Analysis, pages 16 - 19.
Good morning G, hopefully today is the day for Pres. message.
Good morning and Welcome to the board, I read your comment on T/H about R/S. I appreciate your support. We need more people posting there so the company knows how the share holders feel. IMO
Short interest zero listed on pinksheets
Short Interest
Date Oct 9, 2007 short interest 0 -100.00% share volume 230,793,747 Days to cover 1.00
I see gvhl finally posted thier 2 Qtr. in pinks yesterday.
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=12061
The certification at the bottom has Jim Chang at the top but is signed (agree to) by Robert Xu
Hopefully it will come out this week and restore a little faith in them doing what they said they would do!
Well I guess the Pres. message should be today or tomorrow
10.04.07 Garr Winters Shares
Mr. Winters has recently elected to turn back his rule 144 stock to treasury. The number of shares he held had been determined early in 2007, based on achieving business objectives and financial targets for the fiscal year. In exchange, he has reached an agreement with Minaco-Tradex to receive a number of preferred shares currently held by Minaco-Tradex, based on achieving specific business milestones for the remainder of the fiscal year.
The personal benefit to Mr. Winters is the fact that his ability to sell the rule 144 shares would be strictly limited if he continued to remain an insider after the year-end. Mr. Winters will comment on this possibility in his President’s message which is planned for next week. He will have greater flexibility to sell the preferred shares back to the Company and realize value under this scenario.
LOL,LMAO, No sorry, I was pointing out they did have some clients and once again it says 6-9mos. When an earlier post made it sound like it was around the corner.
LAS VEGAS, NV, September 27, 2007 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today that it has been approached by a number of Chinese companies seeking public listings in North America or Europe.Esprit’s IFGX.com operations will be brought into play, in order to provide the public shells required and to provide financial consulting services and guidance to assist these companies in the process. A good percentage of these companies are large corporations with multi-million dollar run rates and hundreds, if not thousands, of employees.Esprit CEO Garr Winters stated; “We are very excited about these opportunities. They represent an excellent win-win proposition for our Chinese clients and us. This is a very ambitious series of undertakings, and we have been working quietly on them for the past couple of months”.
The Company has delayed announcing these projects previously to avoid undue speculation, and to take the time to reaffirm that these deals can reasonably be expected to proceed forward. They are material in nature to the ongoing operations of Esprit, and represent a significant new revenue stream.
As many shareholders are aware, the Company has been acquiring shell companies over the past few months. It is Esprit’s intent to use some or all of these shells for these deals.
While we believe in the potential success of these projects, it must be said that they represent very ambitious plans that require harmonizing Chinese regulations with those of the U.S. and/or possibly the Frankfurt or London exchanges. As such, we project that these initial deals will take the better part of 6 – 9 months to bring to fruition.Esprit can anticipate revenues of 5% - 10% of the total value of the deal in cash and stock, based on typical fee structures for clean shells. Further announcements will be made as Esprit signs contracts with each of the Companies.
Winters added; “Esprit consultant Robert Xu has played a pivotal role in bringing these deals to the table. His extensive contacts in the Jiangxi Province have enabled the Company to move at an accelerated pace, rather than coming in to the Chinese market from a cold start”.
Well, we closed at .0002 again today. Approx 30ml @.0001 were sold again today with not any of our orders being filled. Anyone???
Allot is listed in the pinksheets under filing.
No I don't believe he does, I think he is very intune with the market and has some very strong connections in the trading industry.
Here is one of the investor awareness advertisements they were talking about.
http://209.85.165.104/search?q=cache:RRd4mGJK7OAJ:www.stock-channel.net/stock-board/showthread.php3%...
My email stated they would post on T/H as soon as they research it. Strange, I thought you probably should know before you do it. Don't know any thing about Chang and if they're still in the hunt for him or in legal battle they aren't going to say anything about that until it is done.
*****************************
Email I received 10-09-07
The questions you posted regarding the preferred shares need a bit of research. There are 2,000 preferred shares issued to Minaco. There is no plan to issue additional shares, and we are working out the logistics of transferring a portion of the shares to Mr. Winters, again, based on achieving business milestones.
They are super-voting: 20,000 votes each. They are not intended to be convertible to common stock, and therefore would not trade on the market. We believe that the number of votes would be adjusted down pro-rata if a reverse split would happen. However, we need to verify with our security lawyers re: some of these specific provisions as they were not created with the idea of a reverse split in mind, which as you know, we have not considered unless other major developments occur that would necessitate this.
We intend to post your last question up on Town Hall as soon as we can verify the facts with our lawyers
You got it, I'm confuse too. I didn't think you can give some away that is tie to giving it back. So basically, we are paying Garr for something we already get back. I think??
Here is everything I can find on the preferred shares.
08.14.07
Esprit Releases 2nd Quarter Results
Capital Stock;
The total number of common shares outstanding increased to 7.877 billion shares. Most of this increase was related to the Company’s acquisitions during the quarter.
On April 17th, 2007, the Company also issued 2,000 preferred shares with 20,000:1 super voting rights to Minaco-TradeX Corp. These preferred shares were issued in conjunction with a secured line of credits for up to $600,000, secured by a GSA on Company assets.
08.23.07
Minaco-TradeX
Company issued 2,000 preferred shares on April 17th, 2007, carrying 30 million votes per share, although no preference as to Company distributions versus common stock. In other words, for dividend purposes, preferred shares will only receive the equivalent of 2,000 common shares in funds.Esprit management is confident of the trust existing between all parties
09.10.07
Preferred Shares
Importantly, should Esprit close the line of credit, the preferred shares revert back to the Esprit. The preferreds have been created to cover the possibility that if Esprit defaulted on the Line of Credit, Minaco would be able to step in and take action necessary to protect their investment - such as installing a new board etc.
09.11.07
Why Issue Preferred Shares to Minaco-TradeX
Our desire to work with Minaco is two-fold. One; we want funds available to draw down to allow us to respond to new projects, if required. The preferred shares voting rights are designed to become active when Esprit draws on the line of credit. These voting rights are designed to protect Minaco’s investment if Esprit defaults on the loan. Once Esprit winds up this credit facility, and pays it off, the preferred shares will be returned to treasury.
Email I recieved 10-09-07
The questions you posted regarding the preferred shares need a bit of research. There are 2,000 preferred shares issued to Minaco. There is no plan to issue additional shares, and we are working out the logistics of transferring a portion of the shares to Mr. Winters, again, based on achieving business milestones.
They are super-voting: 20,000 votes each. They are not intended to be convertible to common stock, and therefore would not trade on the market. We believe that the number of votes would be adjusted down pro-rata if a reverse split would happen. However, we need to verify with our security lawyers re: some of these specific provisions as they were not created with the idea of a reverse split in mind, which as you know, we have not considered unless other major developments occur that would necessitate this.
We intend to post your last question up on Town Hall as soon as we can verify the facts with our lawyers
Garde this is from a german site. Last line.
Our new Forex division is the first new product offering to come on-line. We are confident that this will become a vital contributor of both top-line revenue and bottom line success, based on our innovative positioning in the marketplace.
http://209.85.165.104/search?q=cache:RPhPLDOAbQAJ:www.aktienboard.com/vb/showthread.php%3Ft%3D103455...
Is this what you were thinking of?
Las Vegas, NV, Jun 26, 2007 (Pink Sheets News Service) — LAS VEGAS, NV, June 27 2008 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that Wachovia Bank, with $706 billion in assets, has expressed interest in providing Check 21 processing services for Esprit's AEFM division both domestically and internationally.
Wachovia joins Herring Bank and Regions Bank in committing to processing Check 21 transactions on behalf of Esprit's client base.
I'm not sure if it was ever confirmed. Wachovia is taking the deposits for forex, but that's all I know, i'll do some digging.
Hopefully one of those deals, is efgo selling ATMs and software updates.
Well back, hopefully we will start the upward climb soon.
Good for you, pick up a few couple weeks ago myself. I was asking about today approx.26ml traded and no one got any, it seems no one got any for .0002 either, very strange. Who trading and where did those 1s go?
Positive things on Town Hall & emails today. In no certain order.
We will step things up again once we close some of the China deals, and can dispel once and for all the bashers claiming that this is nothing more than smoke and mirrors.
We will not do a reverse split just to reduce the number of shares
We are working on the retail pricing in conjunction with our service providers and our Chinese bank clients.
Winters added: “We are now pretty well geared up to bring a number of projects on line in the coming months. We have also recently launched a website devoted to IFGX; www.ifgx.com to support the growth of this division”.
EFGO.PK) www.espritfinancialgroup.com announced today the hiring of Steve Edwards as Vice President, Business Development for its IFGX division,
The questions you posted regarding the preferred shares need a bit of research. There are 2,000 preferred shares issued to Minaco. There is no plan to issue additional shares, and we are working out the logistics of transferring a portion of the shares to Mr. Winters, again, based on achieving business milestones.
It's above in the Ibox. RSI(14) is running 50 according to chart above.
Does anyone find it strange that no one on the board, well so far, got any trades today with over approx. 26 ml trading at .0001
Now, now, I'm a huge believer in efgo. I’ve been call insane, but that’s ok. Even with all that has happen, I still believe there is money here. And yes, all we need is one deal, one contract, one MM to stop dragging us down, etc……………………………… What is sad is I believe once this starts to move it still may go slow and some will bail and miss the day it runs big. You know it will, well hopefully, almost every dog has it’s day.
And boy o boy, does this dog need one.