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That's my opinion, the majority of voting shares are own by another company.
from a PR on May 25th....
To clarify;
There are 11 billion shares of authorized stock. O/S
Approximately 6 billion shares have been issued. A/S
Management holds roughly 2 billion shares.
There are roughly an additional 2 billion shares that are restricted.
The remaining 2 billion shares that comprise the float.
Not with them giving our voting shares away, It actually may be a smart move. Time will tell
I'm thinking it was part of the 6bl, it adds up
from a PR on May 25th....
To clarify;
There are 11 billion shares of authorized stock.
Approximately 6 billion shares have been issued.
Management holds roughly 2 billion shares.
There are roughly an additional 2 billion shares that are restricted.
The remaining 2 billion shares that comprise the float.
from a PR on May 25th....
To clarify;
There are 11 billion shares of authorized stock.
Approximately 6 billion shares have been issued.
Management holds roughly 2 billion shares.
There are roughly an additional 2 billion shares that are restricted.
The remaining 2 billion shares that comprise the float.
PR on May 3rd...
Members of management were issued restricted common stock.
06.22.07
Executive Compensation
Senior management was issued restricted stock in early March of this year. The amount of stock was a negotiated amount, that reflected the stock price at the time and the value of the employees services for the upcoming year.The risk / reward aspect of this compensation was to allow executives to benefit from the business success they created, as reflected in the stock price at the point in time when the shares could be traded.
To issue shares on a monthly basis at the current valuations at the time would be counter-productive, effectively eliminating the upside reward for good performance. In other words, as the stock rose, they would receive fewer shares each month, limiting the incentive aspect of creating value for all shareholders.[/I]
RESPONSE:
The Check 21 Test are currently underway with the Chinese Banks. Their interest in the service continues to run high and we should be able to complete testing within the next 10 days
2-28-2007Winters added "I would also want to clarify that further to our announcement of February 27th, compensation of both Richard Sciacchetano and myself will be made in the form of restricted class 144 stock in lieu of salary. As noted at that time, the amount of stock issued will be commensurate with the achievement of business milestones and performance of the corporation. As such, senior management will be very focused on creating long-term value for our shareholders, particularly in light of the fact that our compensation will be directly affected by the long-term performance of the Company and its stock value".
yes in jan.
06.22.07
Executive Compensation
Senior management was issued restricted stock in early March of this year. The amount of stock was a negotiated amount, that reflected the stock price at the time and the value of the employees services for the upcoming year.The risk / reward aspect of this compensation was to allow executives to benefit from the business success they created, as reflected in the stock price at the point in time when the shares could be traded.
Who knows if he has them already or not.
2-27-2007Cash Now Corporation (CHNW.PK) http://www.cashnow.com (Cash Now), announces that key executives CEO Garr Winters and Richard Sciacchetano, Cash Now's advisor and project manager of the Forex product, have agreed to be compensated primarily in Company stock. Each executive will receive $1.00 in Cash, in lieu of regular salary, plus shares of common stock in the Company commensurate with performance and meeting certain pre-defined business milestones.
2-28-2007Winters added "I would also want to clarify that further to our announcement of February 27th, compensation of both Richard Sciacchetano and myself will be made in the form of restricted class 144 stock in lieu of salary. As noted at that time, the amount of stock issued will be commensurate with the achievement of business milestones and performance of the corporation. As such, senior management will be very focused on creating long-term value for our shareholders, particularly in light of the fact that our compensation will be directly affected by the long-term performance of the Company and its stock value".
4-18-2007My compensation, as well as other senior management, is tied to long term performance via restricted shares. Our goal line is still nine months + away, and by that time, we expect to have a rock solid Company with several complimentary revenue streams and bottom line profitability.
from a PR on May 25th....
To clarify;
There are 11 billion shares of authorized stock.
Approximately 6 billion shares have been issued.
Management holds roughly 2 billion shares.
There are roughly an additional 2 billion shares that are restricted.
The remaining 2 billion shares that comprise the float.
PR on May 3rd...
Members of management were issued restricted common stock.
06.22.07
Executive Compensation
Senior management was issued restricted stock in early March of this year. The amount of stock was a negotiated amount, that reflected the stock price at the time and the value of the employees services for the upcoming year.The risk / reward aspect of this compensation was to allow executives to benefit from the business success they created, as reflected in the stock price at the point in time when the shares could be traded.
To issue shares on a monthly basis at the current valuations at the time would be counter-productive, effectively eliminating the upside reward for good performance. In other words, as the stock rose, they would receive fewer shares each month, limiting the incentive aspect of creating value for all shareholders.[/I]
We also believe it would be unfair to ask executives to forego cash compensation for an extended period of time, and limit the upside reward potential.
It is inappropriate to disclose the actual compensation of participating executives. The participating executives have the expectation and right to privacy. Negotiations were confidential, and will only be reported to the extent required by the SEC
07.20.07
Management Stock Compensation
Posted in Uncategorized, Investor Relations at 4:04 pm by Andrew Edwards
QUESTION:
You’ve said management has been already paid this year’s salary in restricted shares. Are these shares the same as open market shares (only restricted) or are they from preferred stock shares and when is the restriction over on these shares?
RESPONSE:
These are Rule 144 shares. This is the same as common stock, but subject to strict trading rules. Generally, Rule 144 stock will become available for trading after 1 year. After the one-year holding period, the number of shares you may sell during any three-month period can’t exceed 1% of the outstanding shares of the same class being sold.
8-13-2007, TH..The original intention wat to tie senior management’s compensation to the performance of the stock, via issuing restricted stock at the beginning of this year. There are no planned changes, as the original underlying logic remains the same. The incentive to increase the price per share is just as valid now as when the shares were issued
If there was to be a R/M, would this reduce our shares?
Read 66176
Reverse Share Split (Corrected)Posted in Investor Relations at 4:06 pm by adol77dai51
QUESTION:
I have heard some shareholders claim that a reverse stock split will be coming soon. Any truth to that?
RESPONSE:
As we have said before, there are no plans to do a reverse split. It has not been a topic at the Board level. Doing a reverse split for the sole purpose of boosting the stock price is not on the table at this time. There seems to be a lot of speculation regarding a reverse split, but it has all been at the shareholder level.Some shareholders are pushing for one, based on the logic that by reducing the number of outstanding shares and increasing the value per share, the volatility of price changes will be reduced. I.E. At the current levels, an increase of .0002 to .0004 is a 100% gain. Similarly, a drop from .0004 to .0002 creates big losses.Please see recent discussions on our Town Hall, regarding buybacks etc. We continue to receive feedback from shareholders that the stock is undervalued. We would love to see our shareholders make big gains if the stock begins to run up again (and yes, we believe it will).Does that mean that the Company can state categorically that there will never be a reverse split? Of course not. Management would be negligent not to consider all available options depending on circumstances at any given point in time. However, at the present time, management believes that there are no underlying business factors that would indicate the need to execute a reverse split.
Note: Original question was posted inaccurately, and referred to a reverse merger by mistake.
QUESTION:
You just posted that there are no plans to do a reverse split. Then say that doesn’t mean never. Does never mean not tomorrow but next week?
RESPONSE:
As stated there are no plans to do a reverse split. However, we know enough to ‘never say never’. Is it possible? Anything is possible, but this is highly improbable within the foreseeable future, unless there is some very major opportunity that would require such a move. So, in the absence of any very large business developments, which will be appropriately disclosed should the time come, there will not be a reverse split.
Note: The original posting mistakenly referred to a reverse merger. The intent was to discuss reverse splits.
Do you think they actually mint 10,000% not 1,000+%
RESPONSE:
We are not quite sure where you got your information about the share price target at 8-9 cents. For the share price to increase to the 8-9 cent level from the current price of .0002 it would mean a growth of 40,000%. Even if we take the price of shares a couple of months ago at .0005 it would mean a 1,000+% increase. This isn’t really realistic.However, having said that, we would like to see at the very least, if not more, a 10 fold growth in share price within the timeframe stated depending on the success of our new business divisions.
Part of an e-mail sent 4-16-07, If the below was true, why now are they saying, 10 fold or .002
>Two what do you feel the true market value pre share is and what is
>the O/S at this time. I fully understand if you can not, or do not
>want to answer these question at this time. Sincerely, Long term
>holder, ////////////////////////////////////////////////////////
>we think that we should be in penny land by now and headed higher,
>so thats about 10,000% less then what we think we should be at
Regards
Did you see on Town Hall the correction to R/S? They wanted to make sure the wording was correct, that it was R/S not R/M.
So if the China deals goes well, do you see a possible R/M to uplist?
Me too!
I'm in, boy am I, every time I bought some I said I was done, because the little women would kill me. Well if it doesn't go up, She just said, you all are reading a "DEAD MANS" posts. Ouch! Stop hitting me………………………………Me thinks she means it this time. LOL
Hey Garde, insane here, yes still here. I never thought about check21 and ATM. Man could you imagine, going to an ATM in China and cash your checks from the US. Might be a reach but if true. WOWZERS!
Just home from work, trying to catch up, Thanks for the honorable mention Vols, But remember I've been call insane too
The firm has extensive knowledge of the often complex Chinese regulations with regards to international business, including securities law, joint ventures, Mergers and Acquisitions, Reverse Mergers and related services. Importantly, the specific lawyer retained works in both Chinese and English, providing a vital bridge to minimize the risk of unintentional misunderstanding arising in negotiations.
This may go more with the IFGX division (buying and selling shells) than with efgo as a company doing one of these. There was talk of chinese's companies going public. Just a thought.
"If they make me rich, all is forgiven"
--Me
LOL ;>}
Makes you wonder if they read each others or their own statements before issuing another.
If the below is true and PPS ran from .0012 to .0007 back to .0012 in March.
How many shares do you think Garr was issued.
Executive Compensation 06.22.07 from Town Hall
Senior management was issued restricted stock in early March of this year. The amount of stock was a negotiated amount, that reflected the stock price at the time and the value of the employees services for the upcoming year.
The risk / reward aspect of this compensation was to allow executives to benefit from the business success they created, as reflected in the stock price at the point in time when the shares could be traded.
To issue shares on a monthly basis at the current valuations at the time would be counter-productive, effectively eliminating the upside reward for good performance. In other words, as the stock rose, they would receive fewer shares each month, limiting the incentive aspect of creating value for all shareholders.
Executive Compensation 06.22.07 from Town Hall
Senior management was issued restricted stock in early March of this year. The amount of stock was a negotiated amount, that reflected the stock price at the time and the value of the employees services for the upcoming year.
The risk / reward aspect of this compensation was to allow executives to benefit from the business success they created, as reflected in the stock price at the point in time when the shares could be traded.
To issue shares on a monthly basis at the current valuations at the time would be counter-productive, effectively eliminating the upside reward for good performance. In other words, as the stock rose, they would receive fewer shares each month, limiting the incentive aspect of creating value for all shareholders.
I believe that Both Town hall and the emails from the company can be held as legal docs. They came from associates of the company and the company has to stand by them.
Town Hall is tried in to public announcements because in a few of the PRs they mention going to Town hall for more info. And gave the address.
A couple of disclaimers were also mention; one was in reference to Chang giving wrong info. (Which, who knows how many of those announcements were part of his actions) And the other is the safe harbor statement (which pretty much can protect them from any back lash.).
I still believe this company is operating in good faith, I think one down fall is that they PR-Ed too much from the beginning and the board is overly critical on everything. I have not seen any pink with this much info. The thing about them is they communicate almost every thought and when some don’t work out we are all over them.
Post say they need us, not true, someone else will always be there to buy the shares.
Every one still has a choice, but at this level, you would be insane not to wait. China, if if if We will be glad we stayed. As some have said, it could be a life-changing event…
Me, yes I would like some sign of life, and I believe it’s coming. They have not left; they’re answering questions. Third Quarter is almost finish. I’m sure we will be in the black again and if china comes through the forth quarter will be great. But I think the best is still in the first or second quarter of next year.
Just my thoughts, But everyone has one.
hot-button issue with many; and, for longs, who knows?
Well it is pinkville, Time will tell
Patience, may make you rich
Glad to see the company is repeatedly saying no plans to raise the A/S or go through with a r/s. If they can get China moving we should see a good move up in the share price
AMEN
So when the PPs starts to rise watch it close, so we’re not bushwhacked
Ok, I've read all these post. Question, Can MMs(brokers)still but naked shares(non existing shares)?
Thanks
AGREE 100%
News,,Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Signing of Utah PayDay Loan Regional Distributor
LAS VEGAS, Sept. 21 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has signed another new regional licensing agreement of its PayDay Loan Software system to an independent Utah-based company.
Garr Winters, Esprit CEO noted: 'While there has been a lot of focus on our opportunities in China, our PayDay loan licensing team is still hard at it doing business as usual. With the summer over, we expect to see more deals in the pipeline of varying sizes as the pace of business accelerates into Fall.'
In other news, the Company will be providing updates on progress with the Check 21 processing services from China on the Company's Town Hall forum at its corporate website: www.espritfinancialgroup.com.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; and Advanced Electronic Funds Management.
Safe Harbor Statement
IMO how much will my shares be worth at the end of december ? :)
Hopefully more than now :>}
me guess .005-.007
He needs to run our ad campaign LOL
I agree, They have shares issue to them in March(according to the one post) and what ever they are worth at the end od restrict is what they get if they sell.(of course there are other thing or restrictions on how many they can sell at any given time)
One of the interviews with Garr, He stated he would be able to sell some in Jan.08, I think...
Post #65477
Confirmed with Irwin yesterday was not company selling, either, see post 65477