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I think he might have meant they will give out info on what the costs will be or projected revs.
Ask UT. Any L2 update?
Its not a tick down if its at the bid. The bid/ask hasnt changed so there has been no ut or dt.
well its been 24mil so far. I know if half of that were sells it would tick down.
EFGO(.0005)Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Prepaid Branded Stored Value Card Program for Cruise Line
Wednesday May 30, 6:00 am ET
LAS VEGAS, May 30 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today that its first credit card branded stored-value debit card program has been secured to service a major cruise line's employees on an international basis. The cruise line will begin dispersing payroll using the Company's stored-value debit cards to its crew members.
ADVERTISEMENT
Currently, like most international shipping vessels, sailors are paid in cash - typically U.S. dollars - in International Waters. During shore leave, crew members are often required to pay exorbitant amounts to change their U.S. dollars into local currency at merchants in close proximity to their ship, making purchases very expensive. Normal banking activities most people take for granted are also problematic, as transferring funds to family members internationally is expensive and cumbersome.
Esprit, in conjunction with its strategic partners, offers an effective alternative that will greatly benefit crew members. The cruise ship company will load cash value onto a branded stored value debit card. The card will be accepted wherever MasterCard credit cards are accepted. Additionally, funds can be transferred internationally to family members easily via card to card transfers.
These stored-value debit cards look like a typical MasterCard, and benefit from the universal acceptance provided by a major credit card. However, they carry only the stored-value of cash that has been loaded onto the card by the cruise line. There is no credit agreement or monthly billing. The dollar value available is stored on the card, and is depleted as purchases are made. These cards will be accepted at nearly every international destination.
Jack Chang, head of Esprit's Advanced Electronic Funds Management (AEFM) division, noted, "This first contract represents an excellent beginning for our merchant marine stored debit card program. Modern cruise ships often have more crew members than passengers, and the largest ships can accommodate over 3,000 passengers. With several hundred cruise ships worldwide, this represents an attractive market for Esprit".
Chang added, "More importantly, our stored value debit cards represent an ideal solution for the merchant marine market in general. Sailors on cargo ships face the same dilemma as those on cruise ships. According to the 2005 CIA World Factbook, the world total number of large merchant ships (1,000 Gross Register Tons) is over 30,000. This represents a very significant market sector where we will enjoy a 'first mover' advantage."
Esprit's AEFM division will also be pursuing market opportunities in other sectors where its payroll debit card solution can be of benefit. Examples include many manufacturing operations with hourly or casual workers, as well as the agricultural sector where migrant workers are employed.
Esprit Financial Group, Inc. is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com. Additionally, the Company's CEO, Garr Winters, was recently interviewed by Wallst.net which can be reviewed at www.wallst.net/audio/audio.asp?ticker=EFGO&id=3421.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include:
- PayDay Loans: A pioneer in the payday loan industry, the Company
licenses comprehensive software solutions to industry participants,
under the Cash Now banner at www.cashnow.org.
- Forex: The Company's Forex Trading division offers an innovative low-
cost Forex trading service at www.cashnow.com targeted to active day-
traders.
- Advanced Electronic Funds Management: This division offers a number
of class leading financial services that facilitate a variety of
Internet based international electronic funds transfer and cash
management solutions.
- Structured Debt Resolution: This division will offer streamlined,
cost effective alternative services to facilitate the negotiation of
debt settlement online.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
I bet the real longs have. I have a feeling that most people who complain about the price are the ones waiting for a flipping opportunity. Cant blame them, its their money but if they really are longs, they dont care about the day to day price.
This is why I have been hoping to here that they arent in a PR from garr. He has addressed other issues in his PR's that have been asked here but not that one.
Im curious as to how you pick up shares nearly daily at the bid?
Apparently a lot of people. Some very large sells.
No, that PR was just an update to get us thru the weekend. They have been open about all the ongoings so this PR is just another in a line. Its all leading to the same thing. Revenues!
EFGO(.0006)Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) (DBA Cash Now)
www.espritfinancialgroup.com is pleased to announce that the new Cash Now Payday
Loan software will begin testing in Beta mode on Monday, May 28th.
The software company hired to assist in re-engineering and enhancing the
existing Cash Now Pay Day advance e5 software platform is completing final
programming over the long weekend. Esprit will deploy the beta version of the
software on the corporate online demo servers, and will send out an open
invitation to the pre registered industry users, to test drive this new and
exciting solution.
Mr. Garr Winters, Esprit's CEO, has said "This platform upgrade will enable the
Company to transact live real time processing in the various international
markets for which it has previously announced licensing agreements, as well as
being designed to allow the Company to add new language and currency modules
without extensive reprogramming to the core system. Key international markets
for expansion of PayDay loan software licensing services include the Asian
market - specifically China and Japan. Potential new licensees have been sitting
on the fence waiting for the new e5 system to be released before they committed.
We see a strong sales potential for this product which results will soon begin
to show. For those unfamiliar with Cash Now's e5 system, Cash Now was the
pioneer and one of the 1st companies to embrace and introduce the Internet
payday advance loans in live or real time access concept. The Trust Vault
system, designed developed and managed by the company remains to be the
workhorse CSR solution for us and is considered an industry leading utility
tool.
Mr. Winter's concluded this mid 6 figure platform upgrade, is within our planned
budget and provisioned some time ago. The settlement will be made with our
existing operating cash reserves, without disturbing our current authorized and
or outstanding stock structure. This is not only a solid investment in our
business, but a fundamental infrastructure stepping stone that will not only
allow us to remain competitive, increase our revenue and profits, but will also
allow us to look at cross-selling the PayDay loan services to prospective
clients and through strategic partnerships already under development within the
Advanced Electronic Funds Management division."
Esprit's financial forecasters and advisors foresee respectable profit margins
for the company over the 3-4 year life cycle of the product.
Esprit Financial Group, Inc. is currently featured at
http://www.audiostocks.com. Additionally, a recent CEO interview by Wallst.net.
Can be reviewed at
www.wallst.net/audio/audio.asp?ticker=EFGO&id=3421.
About Esprit Financial Group Inc.
Esprit Financial Group Inc is a public company engaged in a diversified number
of online financial services. These include:
- PayDay Loans: A pioneer in the payday loan industry, the Company
licenses comprehensive software solutions to industry participants,
under the Cash Now banner at www.cashnow.org and www.cashnow.net
- Forex: The Company's Forex Trading division offers an innovative low-
cost Forex trading service at www.cashnow.com targeted to active day-
traders.
- Advanced Electronic Funds Management: This division offers a number
of class leading financial services that facilitate a variety of
Internet based international electronic funds transfer and cash
management solutions.
- Structured Debt Resolution: This division will offer streamlined,
cost effective alternative services to facilitate the negotiation of
debt settlement online.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.'
Statements describing objectives or goals or the Company's future plans are also
forward-looking statements and are subject to risks and uncertainties, including
the financial performance of the Company and market valuations of its stock,
which could cause actual results to differ materially from those anticipated.
Forward-looking statements in this news release are made pursuant to the 'Safe
Harbor' provisions of the United States Private Securities Litigation Reform Act
of 1995. Investors are cautioned that such forward-looking statements involve
risks and uncertainties, including, without limitation, risks relating to the
ability to close transactions being contemplated, risks related to sales,
continued acceptance of Esprit Financial Group's products, increased levels of
competition, technological changes, dependence on intellectual property rights
and other risks detailed from time to time in Esprit Financial Group's periodic
reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
I like R-moneys assesment. I never correlate the board marks to the buys and sells. Maybe cuz I dont think ihub controls this stock. But who knows, maybe they do.
Someone is selling large blocks. I dont seem to see large buys to offset these. This stock hasnt been below 5 for a very long time so I dont see it as people getting out with a profit. I also dont see why someone would sell for a loss when the stock is sitting still. It doesnt add up and I cant imagine it would be dilution. The 504 has been exhausted. But whenever this board discusses something (r/s, increased AS) Garr addresses it in a PR. Havent heard him say they arent selling. Not to say they are, but I wouldnt mind hearing a reassuring No.
Id love to hear the positives of these sells.
Whats discouraging is the size of the sells. Gets me worried.
That would be great news.
Nice, went thru quick and wasnt mirrored down. Could be a good sign.
MM's might be ready to move us to a new support level with some buying today.
Anyone buying 7's today?
How do we get BRGE off the ask and off this stock completely?
EFGO(.0006)Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Strategic Alliance with Credit Card Solutions UK Ltd.
Thursday May 24, 6:00 am ET
LAS VEGAS, NV, May 24 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has retained the services, and will be working with Credit Card Solutions UK Ltd. (CCS) as part of a strategic alliance to offer foreign denominated debit and prepaid credit cards as well as advanced Electronic Funds Transfers (EFT) to financial institutions in Asia, South America and Africa. Other opportunities may be pursued as they arise.
ADVERTISEMENT
Esprit will pay initial set-up and administrative fees of $75,000 in cash to Credit Card Solutions for provision of the back-end services. Going forwards, CCS will provide management of the processing services and payment system infrastructure for the financial services being offered in these markets.
Jack Chang, head of Esprit's Advanced Electronic Funds Management (AEFM) division has previously worked in collaboration with CCS, providing the added benefit of actual project experience between Esprit and CCS.
Esprit CEO Garr Winters advised, "We are continuing to bring operational capabilities online within the AEFM division. This specific alliance will allow Esprit to execute contracts for these services within our targeted geographic and industry target markets. It brings the division significantly closer to generating revenue streams from these particular financial services."
In other Company news, the PayDay Loans division announced the sale of a new ATM license for the city of Edmonton, the capital of Alberta, Canada with a population base of over 1 million people.
Esprit Financial Group, Inc. is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com. Additionally, Esprit was recently interviewed by Wallst.net. The interview can be reviewed by visiting www.wallst.net/audio/audio.asp?ticker=EFGO&id=3421.
About Credit Card Solutions UK Ltd
Credit Card Solutions UK Ltd (CCS) (www.creditcardsolutionsuk.com) is a consultancy firm which since early 2005 has been consulting in the area of prepaid debit implementation strategies specifically across the Europe, Middle East and African (EMEA) region, expanding into Asia Pacific and Latin America during 2006. By developing relationships with issuing banks and transaction processors CCS guides its corporate clientele to the most appropriate product offering based on a detailed requirements assessment process and guidance by an internal financial advisory counsel.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Under the Cash Now banner www.cashnow.org . The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
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.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
EFGO(.0006)Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Strategic Alliance with Credit Card Solutions UK Ltd.
Thursday May 24, 6:00 am ET
LAS VEGAS, NV, May 24 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has retained the services, and will be working with Credit Card Solutions UK Ltd. (CCS) as part of a strategic alliance to offer foreign denominated debit and prepaid credit cards as well as advanced Electronic Funds Transfers (EFT) to financial institutions in Asia, South America and Africa. Other opportunities may be pursued as they arise.
ADVERTISEMENT
Esprit will pay initial set-up and administrative fees of $75,000 in cash to Credit Card Solutions for provision of the back-end services. Going forwards, CCS will provide management of the processing services and payment system infrastructure for the financial services being offered in these markets.
Jack Chang, head of Esprit's Advanced Electronic Funds Management (AEFM) division has previously worked in collaboration with CCS, providing the added benefit of actual project experience between Esprit and CCS.
Esprit CEO Garr Winters advised, "We are continuing to bring operational capabilities online within the AEFM division. This specific alliance will allow Esprit to execute contracts for these services within our targeted geographic and industry target markets. It brings the division significantly closer to generating revenue streams from these particular financial services."
In other Company news, the PayDay Loans division announced the sale of a new ATM license for the city of Edmonton, the capital of Alberta, Canada with a population base of over 1 million people.
Esprit Financial Group, Inc. is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com. Additionally, Esprit was recently interviewed by Wallst.net. The interview can be reviewed by visiting www.wallst.net/audio/audio.asp?ticker=EFGO&id=3421.
About Credit Card Solutions UK Ltd
Credit Card Solutions UK Ltd (CCS) (www.creditcardsolutionsuk.com) is a consultancy firm which since early 2005 has been consulting in the area of prepaid debit implementation strategies specifically across the Europe, Middle East and African (EMEA) region, expanding into Asia Pacific and Latin America during 2006. By developing relationships with issuing banks and transaction processors CCS guides its corporate clientele to the most appropriate product offering based on a detailed requirements assessment process and guidance by an internal financial advisory counsel.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Under the Cash Now banner www.cashnow.org . The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
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.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
EFGO(.0005)Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Strategic Marketing Alliances for the "Cash Now Card"
LAS VEGAS, May 23, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has reached an agreement in principle with several major credit card issuers through their agents for access to their data base of credit card applicants who have been refused or denied (DRC) regular credit cards. Esprit has been given permission to access and mine the data to solicit new customers for its Cash Now prepaid credit card products of its Advanced Electronic Funds Management (AEFM) division.
These consumers have been denied credit and labeled DRC for various reasons, ranging from poor credit history or negative credit remarks to name a few. The size of the DRC database is literally millions of credit card applicants.
Mr. Winters, Esprit's CEO has said "Simply put, the entire database would be just too overwhelming for Esprit's needs at this time. We are most definitely interested in taking on as much as we can handle, in an effort to speed up our goal of 50,000 subscribers. Traditionally the conversion rate of the DRC applications to prepaid credit cards is quite high, as the applicants credit denial notice from the issuing bank does not resolve the fact that they still need Visa or a Master Card type services."
Esprit prepaid credit card solutions offer credit card applicants advanced features not usually available on traditional prepaid credit cards. A good example is our ability to offer the DRC client a micro loan through our Payday Loan division. This feature should enable Esprit to convert a higher ratio of applicant DRC prospects than industry guidelines.
Prepaid credit cards generate excellent margins, and minimal credit risk, due to the fact that the credit limits of each card are based on funds deposited by the cardholder.
The data mining analysis of the database of DRC clients will be optimized to search for DRC applicants that would be candidates to cross-market other financial service solutions from the AEFM portfolio. Many DRC clients may be interested in Esprit's EM2 products that would allow them to transfer funds to family and relatives abroad. Esprit's financial solutions for this market are at the very leading edge of the industry, allowing quick transit times for the funds and lower transfer fees than options such as Western union.
Another important aspect of the Cash Now card prepaid credit card is the fact that these products continue to generate a recurring monthly stream of revenue over extended periods of time. This creates a compounding monthly revenue stream as Esprit builds its base of cardholders over the next few years, i.e., if the Company adds 500 new customers per month over a period of 12 months, by year-end there will be 6,000 prepaid credit cards generating monthly income.
The fee for use of the DRC data mine is contingent upon the size of the order, recency of the applications and other factors and will be paid in cash from Esprit's operational funds.
In closing, Esprit CEO Garr Winters added: "Our AEFM division continues to ramp up operations for our various International financial services on a fast track basis. We are ahead of schedule on a number of products and financial services, and will be endeavoring to launch sales and marketing initiatives for some of these products ahead of our initial estimates of the third quarter of this year. The obvious goal is to bring these revenue streams online as quickly as possible."
Esprit management projects that the Cash Now Card division should be in a position to attract 50,000 to 100,000 customers within the next 18 to 24 months. This product should, by our estimates, be capable of generating about $1.5 to $2.0 million in revenue on an annualized basis at the end of this time frame.
Esprit Financial Group, Inc. is currently featured at AudioStocks.com, StockGuru.com and Wallstreetreporter.com, where profiles and other information may be obtained.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services. It is traded on the Pink Sheets and Frankfurt exchanges.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Under the Cash Now banner www.cashnow.org . The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduced holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
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.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Strategic Marketing Alliances for the "Cash Now Card"
LAS VEGAS, May 23, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has reached an agreement in principle with several major credit card issuers through their agents for access to their data base of credit card applicants who have been refused or denied (DRC) regular credit cards. Esprit has been given permission to access and mine the data to solicit new customers for its Cash Now prepaid credit card products of its Advanced Electronic Funds Management (AEFM) division.
These consumers have been denied credit and labeled DRC for various reasons, ranging from poor credit history or negative credit remarks to name a few. The size of the DRC database is literally millions of credit card applicants.
Mr. Winters, Esprit's CEO has said "Simply put, the entire database would be just too overwhelming for Esprit's needs at this time. We are most definitely interested in taking on as much as we can handle, in an effort to speed up our goal of 50,000 subscribers. Traditionally the conversion rate of the DRC applications to prepaid credit cards is quite high, as the applicants credit denial notice from the issuing bank does not resolve the fact that they still need Visa or a Master Card type services."
Esprit prepaid credit card solutions offer credit card applicants advanced features not usually available on traditional prepaid credit cards. A good example is our ability to offer the DRC client a micro loan through our Payday Loan division. This feature should enable Esprit to convert a higher ratio of applicant DRC prospects than industry guidelines.
Prepaid credit cards generate excellent margins, and minimal credit risk, due to the fact that the credit limits of each card are based on funds deposited by the cardholder.
The data mining analysis of the database of DRC clients will be optimized to search for DRC applicants that would be candidates to cross-market other financial service solutions from the AEFM portfolio. Many DRC clients may be interested in Esprit's EM2 products that would allow them to transfer funds to family and relatives abroad. Esprit's financial solutions for this market are at the very leading edge of the industry, allowing quick transit times for the funds and lower transfer fees than options such as Western union.
Another important aspect of the Cash Now card prepaid credit card is the fact that these products continue to generate a recurring monthly stream of revenue over extended periods of time. This creates a compounding monthly revenue stream as Esprit builds its base of cardholders over the next few years, i.e., if the Company adds 500 new customers per month over a period of 12 months, by year-end there will be 6,000 prepaid credit cards generating monthly income.
The fee for use of the DRC data mine is contingent upon the size of the order, recency of the applications and other factors and will be paid in cash from Esprit's operational funds.
In closing, Esprit CEO Garr Winters added: "Our AEFM division continues to ramp up operations for our various International financial services on a fast track basis. We are ahead of schedule on a number of products and financial services, and will be endeavoring to launch sales and marketing initiatives for some of these products ahead of our initial estimates of the third quarter of this year. The obvious goal is to bring these revenue streams online as quickly as possible."
Esprit management projects that the Cash Now Card division should be in a position to attract 50,000 to 100,000 customers within the next 18 to 24 months. This product should, by our estimates, be capable of generating about $1.5 to $2.0 million in revenue on an annualized basis at the end of this time frame.
Esprit Financial Group, Inc. is currently featured at AudioStocks.com, StockGuru.com and Wallstreetreporter.com, where profiles and other information may be obtained.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services. It is traded on the Pink Sheets and Frankfurt exchanges.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Under the Cash Now banner www.cashnow.org . The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduced holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
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.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
EFGO to release forward guidance soon. Should be a great week.
Whats going on with these after hour trades?
FMD are you in this for the long haul or just trying to get your profits back? From reading your posts you have great enthusiasm but I fear its just so you can get out of this stock.
Your subtle cryptic posts and conversations with others who seem also to be in the know is killing me. I truly hope you are correct. I have yet to find reason to not believe anything you have posted. So I will sit and wait patiently as always. GLTY
Last trade @ 10:12 w/30.7mil volume?
Do you have to be a paid member to help moderate? or just someone who monitors this board all day?
Can I ask what it is that you think is the cause of this? I read you on a near daily basis complain about it but never offer up any reasoning behind it. We can all see the share price, so why do you need to keep updating us all? Do you not like the business plan or the way things are getting done? This is a great place to discuss those things. Constantly giving play by play to the stock price action is not exactly what this board is for. At least give some insight as to why you think its acting this way.
EFGO volume coming in
Does anyone have a print of the tape from the open? I think the 13mil was sold at open if I recall correctly.
I understand how that works but the fact is there was only one transaction at 5 today. It has been 6-7 all day until that one transaction.
Lunch eom
According to the log, only one trade came in at 5 correct? 5mil @ 7 then 2 mil @ 5 then 200k @ 7 again all in 3 mintues. So noone is selling at 5. More MM games I believe. They dont keep it off 7 for long. They bring it right back up with a small trade almost immediately.
Strange trading today. After nearly every trade at 6 it comes back to 7 with a trade in the 10k share range. I cant imagine these are real trades. Anyone with real L2's? Bloomfield is killing me.
I know a lot of you are disappointed but you have to look at it positively. Over 400mil yesterday in mostly buys and only 160 or so mil today, mostly sells. A LOT of people jumped in for the momo yesterday and were either happy with the gain or didnt see it continuing today and left. If you look at fundamentals then the daily PPS shouldnt be too much of a factor. However, it will concern me if it sees the 4's again. Its easy to fall down but so hard for the price to get back up. We need to see support here then a new move upwards. I think the news we get now and forward will help that leg up. GL and enjoy your weekend.
EFGO(.0008)Esprit Financial Group, Inc. (EFGO.PK) Announces Plans to Purchase International Express Payment Corp. (iexpay Jianxi)
Friday May 18, 10:59 am ET
LAS VEGAS, NV, May 18 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK - News) announced today that further discussions with International Express Payment (Jiangxi) Corp. have resulted into consideration of an acquisition of iexpay Jiangxi by Esprit.
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Further to the press release by Esprit issued on May 17 2007, Esprit has agreed to hire founders and principal shareholders Robert Xu and Peter He as of today's date moving forward. Both Robert and Peter will work in concert with Esprit's project manager of EM2 Jack Chang to speed up the process of making iexpay Jianxi an open loop payment system so to enable Esprit to begin generating revenues at the earliest.
Continued in-depth discussions between Esprit and iexpay Jiangxi have prompted the parties to consider a friendly takeover of Jiangxi by Esprit. Robert Xu has said "We are very thankful and excited about this opportunity with Esprit, as we see a huge up side potential for the iexpay Jianxi under the Esprit umbrella. I'm very impressed with the operations of Esprit and the ability of the management of this company"
CEO Garr Winters noted; "Our discussions have proven very fruitful. The more time we spend with each other, the greater the synergies that become apparent. Through our discussions, both Robert and Peter have recognized the opportunities within Esprit to further grow.
Winters added; "We will continue discussions through the weekend, and early part of next week. The key areas of discussion will now focus on corporate valuation and conducting due diligence of iexpay Jiangxi. It is anticipated that once this deal is consummated, consideration will be a 10% cash and 90% stock transaction. The purchase of iexpay Jianxi is valued at about $ 2,500,000.00 USD.
Esprit will issue restricted shares in exchange for controlling ownership of iexpay Jiangxi. Mr. Winters added this should put to rest the issue as to why Esprit increased the outstanding share structure several months ago once and for all. This needed to be done to allow Esprit to acquire growth opportunities, and to further seek out additional revenue producing opportunities to add to Esprit's group.
In addition, both Peter and Robert commutative remuneration will be pegged to the performance and the success of the iexpay Jianxi. Mr. Winters added, in keeping with Esprit's key management and performance pay structure both Peter and Robert will be paid $1.00 annually plus favorable stock options".
Although Mr. Xu and Mr. He own a substantial majority of the iexpay Jianxi. Esprit's management will want to consult with minority shareholders as well, in keeping with Esprit's good corporate philosophy of open dialogue and consultation with all stakeholder groups large or small".
Iexpay Jiangxi is a federally incorporated company in Canada, with corporate offices headed by Robert Hu in Toronto, Ontario, Canada and operational and programming support offices with approximately 20 support staff managed by Peter He located in Jiangxi, China. Iexpay Jianxi owns several trademarks and proprietary patents in China of the iexpay Joangi payment system.
Winters concluded; "We see tremendous growth opportunities in the Asian market. This deal will not only provide a solid platform from which to maintain continued growth within China, but will also provide a very cost-effective center of operations from which we can develop future growth from other Asian countries. The Advanced Electronics Fund Management division, headed by Jack Chang, has previously identified the Asian market as a key geographic center of operations, and opened an office in Hong Kong. Once this transaction is consummated, we will move all operations to iexpay Jiangxi's office in China. As International Express Payment Corp head office is located in Toronto Canada, their Canadian operations with Esprit's operations in Toronto should be a relatively seamless and easy process with little or no business interruptions.
As Monday May 21 2007 is a Federal holiday in Canada, and Esprit will not have an opportunity to seek external due diligence of this purchase with Canadian governing bodies, Esprit management foresees that further guidance regarding this acquisition and discussions will not be forthcoming until at least the middle of next week.
About International Express Payment (Jiangxi) Corp.
Jiangxi is the leading online payment platform in China. Owned and operated by International Express Payment Corporation, it utilizes and integrates the world leading online technology and banking facilities. 21 major banks in China have signed payment agreements with Jiangxi. The company is dedicated to providing secure and efficient customer services for online payment transaction and has established operational strategic partnerships with these financial institutions offering online payment services. Jiangxi services currently cover over 2.7 billion domestic and international bank cards.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner www.cashnow.org. The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
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.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
Geez, you guys are so moody. Give it some time here. Do you all of a sudden not believe anymore? You had to expect selling after yesterdays run. Happens all the time. Doesnt mean it wont come back.
Rochester here. I hope to come up to saratoga for a day or 2 of races. Just got back from the derby.
a couple 100 share trades