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Post #61395
Brian, I posted your question in comments under J.C.s statement, hope you don't mind.
Does anyone know, How many times in the Town hall this question of r/s has been answered? I'm not sure, but it's alot. It's been ask several different way but the answer has always been NO
Town Hall update...
08.27.07Jack Chang
Posted in Announcements at 8:57 pm by Andrew Edwards
Jack Chang is no longer affiliated with the Company in any way.The Company had formally requested full documentation be provided regarding the contracts and strategic relationships he allegedly made on behalf of the Company.
We are now satisfied that none will be forthcoming. Some of the previous press releases issued by the Company were based on written assertions made by Mr. Chang.
We were not prepared to make any official statements until we had provided Mr. Chang with every reasonable opportunity to clarify his actions and support the claims he made to the Company regarding the electronic funds transfer services that were supposedly in place. Upon Mr. Winters return to Canada this week, he was able to confirm that Mr. Chang has not responded in any fashion to our requests.
Over the last month, senior management has stepped in, and pro-actively identified alternative service providers truly capable of providing the financial services claimed by Mr. Chang. We are moving forward towards bringing the projects previously identified within the Chinese market on-stream as quickly as possible.
The situation is regrettable, and management has tried to respond as quickly as possible to mitigate the damages as much as possible.
Share Price and Reverse Split
Posted in Investor Relations at 8:30 pm by Andrew Edwards
QUESTION:
Ok, we’ve touched .0001 so where are the updates on Town Hall? I can’t
believe the PPS has gone from .0017 all the way down to .0002. Unless there
is some huge fat contract out there I don’t see any chance of getting out of
this hole without a R/S. What are your feelings? What’s the ace in the hole
or is there one? Weeks ago we were led to expect a 10+ PR that never
materialized. Are we on our last leg rolling the dice one last time all or
nothing? Honestly now (if that’s possible with you being an employee on the
payroll for IR) will we pull out without having to do a R/S?
RESPONSE:
We are not looking for a reverse split to address the stock price issue. We will do it the old fashioned way, with meaningful results. We have committed not to issue any fluff PR. Management will be back in town by Wednesday. This will allow us to catch up with all the developments.It is unlikely to expect huge news in the next week or two. That doesn’t mean it’s not coming. Some of the China developments were delayed - see the next post re: Jack Chang. However, Robert Xu has turned a couple of business projects into even bigger opportunities. And yes, opportunities don’t mean anything until they become reality.
Which is why we haven’t been issuing Press Releases… yet.
Share Prices and China Development
Posted in Investor Relations at 8:13 pm by Andrew Edwards
QUESTION:
I picked up another 15mm shares today. I feel like it’s a very good investment. Why don’t investors just buy more at these levels instead of complaining all the time? How are things in China? Any other interesting developments? Thanks for all your help.
RESPONSE:
China continues to look great, and we’re moving things forward. I guess because we haven’t issued any PRs in the last couple of weeks, people feel the party is over.Quite the contrary. We just can’t talk about anything yet, and won’t be able to until the contracts are in place and business is being transacted.
Note: Our people are returning home this week, with tomorrow being a travel day. Full management meeting is scheduled for Wednesday. Don’t expect any big announcements after the meeting. We may release some news if possible.
Will there be big announcements? Yes, but not immediately. However, the bottom line is that the only thing that really counts in the short to medium term is our top-line revenue.
If shareholders can’t wait for news and they sell their shares that is their right.
If they are selling because there aren’t a steady stream of press releases and momentum behind the stock at the moment, it becomes a self-fulfilling prophecy.
But please take note: we are not folding up our tents and walking away. The best is still before us, and we are proud of the progress we are making in developing viable business opportunities that will take this Company to new heights.
If they spin forex off, we should get shares in that company as dividents. IMO
Thanks, Great Info
I'm not sure, I too find that puzzling. I try and find answer over the week-end.
Yes, I too hope he is doing something for EFGO. The whole GVHL thing is kind of twisted.
1st we sell to an unnamed company in Texas for 200k
2nd we work out a deal with Roberts company he own and spend 2bl shares doing it. We then negotiate a deal for gvhl and make Robert the CEO and Garr the sec.
3rd we give GVHL back the $200k plus another 50k and say we’re financing them.
And lastly we give up all voting rights, to an unknown company, so we, that gave away $250k, can borrow $600k if we need to?
And if you really look closely at the Financials you can see a lot of other things to.
Now before everyone starts getting ruffled up or cheering. I figure one of two things, they are either working the system very well to their advantage or the working hard enough we’ll fight their way though.
Time will tell,
And as I’ve said many times, I’m not going anywhere.
IT’S .03-. 05 OR BUST BABY!
EFGO officers as listed in the Esprit Financial Group Inc.
Management Discussion & Analysis
Garr Winters, Chief Executive Officer
Robert Xu, Director Asian Financial Services
Peter Presland, COO Forex Trading Division
Keith Roberts, CMA – Chief Financial Officer, Director
Peter He – Chief Technology Officer
Ron Macari – Network Operations, Web Development
Robert Xu, Director Asian Financial Services
This is listed in the EFGO Pinksheet filings under Management Discussion
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11314
And is Ceo of GVHL. also Garr is listed as the sec.
That's some good stuff Garde, Hope we're involved.
I agree 100%, too many irons in the fire.
Hey garde, what you thing about the posting on Town Hall tonite? All the talk about the OTCBB companies, I think they should use one and uplist and get rid of the MM games played here in pinkille.
New posting just out on Town Hall.
08.23.07 Structured Debt Resolution Division
Posted in Investor Relations at 9:56 pm by Andrew Edwards
QUESTION:
Is the nonconfrontational debt resolution division dead in the water or just put on hold?
RESPONSE:
It is currently on hold. There has been significant activity within this market with new entrants and aggressive marketing campaigns. On the other hand, the sub-prime market collapse will generate growth within this market.Bottom line, we are taking a wait and see approach. We are concentrating our efforts on projects that we feel confident will generate strong margins and positive cash flow.Once our top-line revenues are where we want them to be, we will revisit the business case for this division.
After re-reading there might be a nugget here after all.
In either case, our first priority is to start generating revenue from at least one of the major projects under development. Although we are operating in the black, our objective is to substantially increase top-line revenue, and we believe that this is achievable within (((this calender year.)))
Home at last. Read the following on Town Hall, Again doesn't give a clear picture of anything.
08.23.07 Shell Companies
Posted in Investor Relations at 9:48 pm by Andrew Edwards
QUESTION:
Are the shell companies related to Minaco or other companies Esprit is dealing with?
RESPONSE:
The two OTCBB shells - HARBOUR I INC. and HARBOUR II INC.- were purchased in May, 2007. These are clean OTCBB certified shells that have no previous operations. They were originally acquired for use within our IFGX division (www.ifgx.com) for resale to new clients.We anticipate there may be a number of opportunities to sell these shells based on enquiries we are receiving from the Chinese market. Alternatively, Esprit may use one of them to uplist to the OTCBB. See Town Hall posting re: Pink Checkmark vs. OTCBB listing.
Pink Checkmark versus OTCBB listing
Posted in Investor Relations at 9:46 pm by Andrew Edwards
QUESTION:
You originally stated that you would be receiving Pink Checkmark status. This hasn’t happened yet? Is that still the plan, or will you use one of the OTCBB shells to uplist?
RESPONSE:
We had anticipated that we would be receiving our Pink Checkmark status based on the information submitted to the Pink Sheets, as reviewed by legal counsel. In discussions with the Pink Sheets in regards to this matter, it now appears that we will have to provide either a Form 15c2-11 or equivalent information to receive that status.This is an expensive undertaking that will require the significant management time and attention. Before we commit to this course, we want to consider the option of utilizing one of our OTCBB shells as an alternative.
The two OTCBB shells (HARBOUR I INC. and HARBOUR II INC.) are available, but these may also be needed for some of the potential clients that we continue to be introduced to in China, many of whom desire to go Public.
In either case, our first priority is to start generating revenue from at least one of the major projects under development. Although we are operating in the black, our objective is to substantially increase top-line revenue, and we believe that this is achievable within this calender year.
The reasoning is that we wish to keep as much capital available for new business development, and then fund uplisting or Pink CHeckmark status through positive cash flow from operations rather than from long-term debt or our existing cash on hand.
IMO, they said nothing.
Reverse Mergers of Buyouts
Posted in Investor Relations at 12:24 am by Andrew Edwards
QUESTION:
Is a reverse merger or buyout on the table at this time?
RESPONSE:
There are no immediate plans for any additional M&A activity. However, the topic does come up from time to time with some of our strategic partners. For now, it is business as usual.We have the funding we need in place to carry through on the projects currently in development. This gives us the freedom to be patient and consider opportunities that may present themselves without the financial pressure of short-term funding issues.
As we start to bring some of our projects on-line, the underlying value of the Company will increase dramatically, and improve the Company’s position regarding any potential mergers and acquisitions.
Agree, Why sit here and sweat it out, there's always someone ready to buy. :>}
This is where ATMs are headed
37 Transactions on an ATM
In the U.S., we generally use the automated teller machine (ATM) for five standard transactions: withdrawal, deposit, account transfer, balance inquiry and, on occasion, statement printing. That transaction set has remained fairly constant since the birth of the ATM channel some 30 years ago. In other nations, however, the ATM is a true self-service fulfillment device that helps deliver a much broader transaction set.
In Australia, for example, Bank of Queensland has transitioned its ATMs from an OS/2 platform to a Windows-based system that enables the bank to deliver marketing messages. Cardholders from competing banks, for example, can be offered an introductory low interest rate on a new Bank of Queensland credit card. While U.S. banks are still experimenting with such programs, Bank of Queensland has deployed this functionality since 2004.
In Singapore, meanwhile, ATMs enable more than 35 different transaction types! Enter any major street ATM atrium or bank branch and you will likely face a line of ATMs offering a variety of transactions. To avoid interfering with the speed of the various transaction sets, these ATMs will be designated specifically for certain functions; some will offer traditional withdrawal or deposit, for example, while others will provide transactions not yet even contemplated in the U.S.
For example, if you want to purchase a car in Singapore, you must enter a lottery process that enables you to bid on the car — and you can submit your bid only through an ATM. You can also renew your driver’s license at the ATM, add time to your mobile phone or even purchase stock. Overseas Chinese Banking Corporation (OCBC) used the ATM channel exclusively to sell shares for an initial public offering (IPO) by telecom provider Singtel. It was the biggest IPO in the history of the Singapore Stock Exchange. Stocks and bonds have been sold on ATMs in Singapore since the mid-1990s.
While Securities and Exchange Commission rules may prevent such transactions in the U.S., the Singaporean experience demonstrates that ATM functionality can extend far beyond the five basic transactions we’re familiar with. The U.S. has more than 1,300 ATMs per 1 million people, the world’s highest density. That’s a vast network of self-service devices to be tapped.
Signatures Automatically Verified
Fraud prevention is another area in which overseas banks are deploying innovative technologies. Consider the automatic signature verification system installed by Union National Bank (UNB), headquartered in Abu Dhabi in the United Arab Emirates (UAE).
While the UAE does not experience the same volume of checks as the United States, average check values are much higher, which generates greater risk from forgery in the check processing stream. Standard banking procedures in the UAE include physical examination and signature comparison of 100% of the checks transacted.
The UNB, one of the leading banks in the UAE, is implementing a program to reduce this risk by becoming the first bank in the Gulf region to use automatic signature verification. Previously, UNB staff needed to visually compare every check signature to a scanned signature card in their database. The new system will automatically compare the signature on the check image to the signature in this database. Based on pre-determined tolerances and thresholds, exceptions will be reported immediately to UNB researchers for investigation.
The verification system analyzes two different aspects of an individual’s signature — the specific features of the static image and the specific features of the process of signing, i.e., the dynamic nature of the signature. The first type of application looks at a two-dimensional static image resulting from the action of signing. The second tracks motions during the process of signing.
U.S. financial institutions can take advantage of this image-based process despite the large number of checks written and processed domestically. In many areas outside of the U.S., it is the banks’ responsibility to assure that the signature on the check is valid. The U.S. has relied on the customer review process to ensure the validity of checks.
However, with the reality of identity theft and some very recent announcements that consumers will no longer be held responsible for the losses sustained as a result of identity theft, signature verification would be a natural extension to the process of assuring the validity of transactions. The technology has advanced and is scalable to process volume.
Image-based Deposit-taking
When it comes to image-based, self-service deposit adoption, U.S. financial institutions are just now rolling out their systems. Meanwhile, countries such as the UAE, Kuwait, Saudi Arabia and Egypt are already leading the world in the deployment of automated deposit technology for the ATM. These nations have well over 600 image-accepting deposit units up and running, enabling customers to deposit cash or checks directly into the ATM without using envelopes.
While this technology can be added to existing Windows-based ATMs, Dubai Islamic Bank in the UAE is also deploying ATMs designed specifically as deposit-taking terminals. These units can be integrated as part of an end-
to-end check processing solution any place where full, image-based check clearing is implemented.
This is an excellent example of ATM image-based technology performing in the marketplace. And it works whether the market is a high, low or even “no check” environment. In many countries outside of the U.S., checks are simply not used. Cash deposits to the ATM, rather than check deposits, are much more the norm. In fact, some Asian markets offer hourly interest, so it is common for consumers to deposit cash back into their accounts via the ATM at the end of the day.
Hola mi amigo,
Correcto, alguien muy está intentando y desea desacreditar la acción o desea sujetarla hacia abajo hasta que puede funcionar grande.
Thats GARRRRRRRRRRRR-ate
Strange how all trades after 12noon had to be .0003 and right at closing .0002 for about $56.00.
Someone is try really hard at shaking the tree.
That would be me, insane, bought another 57+ml over the past few days. :>}
Well. making any sense is the last thing we need on this board right now. LOL
We need a lot a Patience and Faith and give them all the time they need to bring this one in. And , lots of Hope, Hope it is finally the big fish we have all been waiting on.
From brian's post
We are working really hard on the China front. Garr is in Texas. Robert is very busy in China
Hmmm... I wonder if Garr is in Texas talking to Wachovia, While Robert is setting-up in China.
Thanks Brian, Brains running slow.
From Brian's post,
We are working really hard on the China front. Garr is in Texas
Why did Garr go to Texas for months ago?
Thanks brian, So it looks like we haven't started the pilot project yet. But it does sound big. We'll see in due time.
When we do have some good news, it will be related to real revenue. Of course, there will be a small pilot project to ensure the services work. But we believe that we are talking about revenue streams that will completely transform the Company.
Big day today I see. Tried to buy this morning @ .0002 change it to .0003 and bought 7.87ml. That's funny, I had more than half the volume today. OK, let's see some action!
0.0002 2000000 OTO 15:12:49
0.0002 1000000 OTO 15:12:47
0.0003 7870000 OTO 12:55:02
0.0003 49550 OTO 12:14:21
0.0003 298100 OTO 11:20:33
0.0003 333333 OTO 10:34:17
0.0003 100000 OTO 10:31:21
0.0003 30000 OTO 09:58:04
0.0003 400000 OTO 09:57:53
0.0003 1290000 OTO 09:30:23
Could this be another way of keeping from be taken over, Without raising the A/S another time? Since a company can't just start buying up all the shares and then try something. Don't know just a thought.
It is the answer to audited fins. There is no answer to low PPS, O/S maybe or maybe EFGO is a sleeper, it happens. I understand the frustration of waiting, but it has been made clear from the start, it would be at least a year. As for the PR, everything takes 30% longer than you expect it to. And yes, I believe there will be a PR. When, who knows... I do believe this company will be in the pennies next year and I can wait.
If I didn't I would not have added more today and will try and add tomorrow.
Patience will make me rich or Broke :>}
when it begins auditing its financials???
Not even walmart audits quarterlies, only year end. Seems to be a big hang-up on audited. Could walmart be breaking SEC rules??
You wrote
You are a true believer
I said
You've read my posts on Town Hall
Now from Town Hall
The True Believer:
Great job! $170,000.00 improvement! Looking forward to 2nd quarter reviews. With everything you’ve accomplished in the first 18 weeks of the year, This company will not be recognized as the same company, chnw2006, by Jan. 2008. Keep up the great job !
Or
Transparency/Confident/Believe in Esprit
Thank you so much for responding to all the shareholders questions. That’s what makes this a great company, which stands out above others. The transparency in which this company portrays it’s self just lends to the confident we as shareholders have and believe in Esprit (EFGO).
Response:
Thanks for the vote of confidence. It’s not always easy to balance the desire to maintain transparency while still managing business operations which may require discretion and confidentiality to protect relationships with key business partners, as well as avoiding disclosures of competitive factors in our business performance.
You've read my post on Town Hall.
Me thinks it is .02,..... Maybe?..........Oh, Maybe not
I use scottrade, put order in before work,6am. 62ml@.0002 got all but about 11ml. Make sure you don't use all or nothing, I had lots of trades to get that much, but it all was under one order. $7+.5%com.
I'm going to try and buy at .0002 for approx. 11ml, worked today, just over 50ml. Brought avg. down .00044632716 LOL
Hey Vols, Hope someone else sells tomorrow, I need another 11ml @ .0002 :>}
I see it was another exciting day. Put in to buy 62ml today at .0002, filled about 51ml, thanks to all who sold, still looking for another 11+ml.