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Most definetely. Just contact your office and ask for a margin account app, otherwise they are on the website.
addendum to my last 2 posts. I work for scottrade, but those regulations should hold true with every broker as they have to adhere to SEC regulations.
day trades are a different section of Reg T, you are allowed 3 day trades within a rolling 5 day period. This would entail buying and selling to buy again the same security in the same day. With a margin account you do not have to worry about the 3 day federal settlement period, and with 25k in equity you have day trade marginability which allows constant buying and selling of the same security during the trading day.
Well first off, just FYI it is a federal regulation dealing with the settlement of securities transactions being 3 days before settlement.
The 3rd free ride you will be restricted for 90 days to buying with settled funds only, the 4th time it is permanent restriction. You should just get a letter the first 2 times (or email) explaining your violation of federal regulation T of the SEC.
OT: silly career question for anyone in here that may be in the industry. I may have an opportunity to work with an investment banking/institutional sales boutique firm, Now I am more interested in trading and maybe portfolio management/analysis. This position will eventually lead to an investment banking analyst position doing analysis typically resulting in the issue of new securities such as stock or bonds. also perhaps some M&A, it is more of dealing with investments before the trading, it is interesting but most of the big shots come from Ivy league schools. It is possible to become an institutional broker which I would like to do.
Any insight from people in the industry or people you know in the industry would be appreciated (I hate school and any short cuts I can take to avoid grad school and get an awesome investments job is awesome) Thanks for any opinions!
Given our market cap, I think even if that was their only interest, Wachovia would still buy the whole company, there really isnt a reason not too. They have to resources to integrate some of our other products.
They have brokerage and lending, so I think they would take it all, heck even if they offered like 50-80 million, that isn't a lot for an acquisition IMO.
depends on what price they tender, and the stipulation of the deal, potentially we could be bought out at a nice permium, typically the market appreciates to the level of the tender price.
then let's go!
nice catch KA12, last 3 trades mirrored up, but not at the same time, there is a small delay. Maybe the MM's think they are being clever.
We should be due for an UT very soon, great ask action this morning.
looks like ubss is ganging up on the .0007's, hopefully they are making a fake wall, I hope these games are almost over.
Best bid support I have seen in a long time, they are all lined up at .0005.
Is the delayed L2 correct? Is UBSS still closed?
Let us also keep in mind the share structure isn't that bad from here. Lets assume 15 million in revenues, a net income of say 8 million (though I think they could have it higher, this assumes wayyyyy more expenses than I think are applicable) now with a multiplier of 10 (like goldman sachs, for no other reason than goldman is about my favorite financial outfit) would be a market cap of 80 million divided by 8 billion shares is a penny. I think penny or higher is completely possible...
could I have a copy of that theory also sir, unless you e-mailed it to me, then I will get it after work.
thanks.
you are correct, I just re-read your post, I initially over read. I agree with your numbers (8.1 O/S 4.4ish float)
I am not certain that info is made public anywhere, however one correction to you math. The 2 billion gets added to the O/s, but since it is not free trading it doesn't effect the float. O/s times market price is market cap (companies value) and the float is the amount of free trading shares, so restricted doesn't increase that.
Excellent question though, I have wondered myself, the thing is I don't think they have to issue the date those shares become free trading, it would be my guess that info would be in the notes of the financials if they were to post it.
UBSS to .0008, lets GO!
After lunch, we could see some more buying pressure (I hope...)
it hasnt doubled, they added 2 billion in retricted shares for the acquisition, it was stated o/s is just over 8 billion, but roughly half or more is restricted, the float should still be between 1 and 2 billion IMO.
last report o/s was 6.1 billion.
Buzz on the boards is that people may not believe this news. Lots of speculation that AURC's buyout is a lie, I guess another Pink had similar news as us in regards to a bank backing. Personally everything EFGO has PR'd has come true, so why would this be different? Like I said if Wachovia mentioned something about it, I think that would do wonders here IMO. for now we just keep waiting.
I wish wachovia would mention something. I noticed they changed chief accounting officer/controller and their Asset backed division.
Also the work with Wells fargo to make cell phones process like VISA cards, EFGO could probably work with something along the lines of that product.
you called it, great run!
Personally I am getting the New mercedes C class all wheel drive luxury sedan, and a Maserati Coupe!!!
Morning all, no more premium trial for me, but WOW nice news, and 300 messages since I went to sleep. I hope today is good, hope everyone loaded what they could! Let's get it on!
That represents the Lot size. The bigger the number in theory the more shares available at that price. Though in pink sheets, oversize lots (over 1k shares) are not required to be shown.
Hope that helps.
Sorry for the poor wording, it means the same thing, the outstanding share count remaining the same implies no new shares are issued and added.
Again sorry for that haha.
He means if the share count remains the same, and earnings increase the earnings multiple goes down, so the company trades "cheaper". If no new shares are issued and earnings increase, assuming we trade at a mildly constant multiple, then yes hypothetically everything staying the same would result in a higher PPS as earnings and profit rise.
I think this line in Garr's quote says what you need to know.
"This provides Esprit with an entry into the Chinese market in a manner that delivers cash flow and tangible business results practically right out of the gate”.
It is everyones own decission whether they choose to believe PR's or not, but 2 things need to be noted. 1, there really is no other source of information, so if you do not believe PR's what are you doing here?
the second being everything EFGO has said in a PR has been followed through on whether on a completion basis or notification of a delay. People just get bored and need to hear the same information Daily, instead of assuming because they didn't hear an update, it has changes (i.e. share structure)
In the PR they clarified the share structure (this has caused great unrest lately) and Personally with all these acquisitions the large O/S doesn't bother me, I feel they will make it smaller with time.
This part really gets me.
Garr Winters, CEO of Esprit, commented; “We are delighted to move forward with Check 21 China. We had excellent rapport with Robert and his colleagues, and certainly saw the tremendous opportunities that had been developed by the team. This provides Esprit with an entry into the Chinese market in a manner that delivers cash flow and tangible business results practically right out of the gate”.
I think the numbers for this company are going to be awesome! starting a lot sooner than previously thought, by Q3 IMO!
This is important I think, along with the info about the shares issued.
"Garr Winters, CEO of Esprit, commented; “We are delighted to move forward with Check 21 China. We had excellent rapport with Robert and his colleagues, and certainly saw the tremendous opportunities that had been developed by the team. This provides Esprit with an entry into the Chinese market in a manner that delivers cash flow and tangible business results practically right out of the gate”."
sorry Money, I am a bit distracted, I am at work and I am ferrari/maserrati Shopping.
I already have my mercedes benz winter car picked out, I am picking out my chick magnet now. This is awesome news!
EFGO Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Acquisition of Check 21
China, Inc.
LAS VEGAS, NV, June 25, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit
Financial Group Inc. (ESPRIT) (EFGO.PK) http://www.espritfinancialgroup.com as
previously announced, Esprit's management team visited China in conjunction with
International Express Payment. (IEXPay).
As a result of the due diligence process, Esprit had the opportunity to fully
explore and understand the corporate structure of IEXPAY.
Esprit has decided not to move forward with the acquisition of IEXPay, and
instead, acquire it's sister Company Check 21 China. The Due diligence process
revealed that the busines pursuits of Check 21 China are more in-line with
Esprit's current business focus and short-term strategic needs.
Esprit feels that Check 21 China represents an opportunity to deliver revenue in
a significantly shorter time-frame, with a scalable business model that is
directly variable as the Companies continue to expand the customer base of
participating banks.
In follow-up meetings with the two sister companies since returning from China,
Esprit and Check 21 China have finalized terms of the acquisition, and expect to
close the transaction within a week. Check 21 China will be acquired in a
combination of cash and stock transaction.
The stock will be placed in an escrow account, and delivered in stages as the
business achieves a number of business milestones. This will see the issued share
capital rise from 6.1 billion to nearly 8 billion shares.
A follow-up meeting with the Bank of Beijing has been confirmed on July 15th, to
begin implementing the pilot check 21 program as previously announced. It is
anticipated that Esprit will begin seeing revenue from this endeavor early in the
3rd quarter.
Garr Winters, CEO of Esprit, commented; "We are delighted to move forward with
Check 21 China. We had excellent rapport with Robert and his colleagues, and
certainly saw the tremendous oppportunities that had been developed by the team.
This provides Esprit with an entree into the Chinese market in a manner that
delivers cash flow and tangible business results practically right out of the
gate".
Esprit will post additional information concerning the acquisition on the Town
Hall page of its website, including a more in-depth press release which will be
posted on http://www.pinksheets.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:
-PayDay Loans: A pioneer in the payday loan industry, the Company
licenses comprehensive software solutions to industry
participants, under the Cash Now banner at http://www.cashnow.org
-Forex: The Company's Forex Trading division offers an innovative
low-cost Forex trading service at http://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
espritfinancialgroup@gmail.com, Investor Relations: (416) 619-0397
http://www.prnewswire.com
Copyright (C) 2007 PR Newswire. All rights reserved
OT: Man I am in love with her. Maybe when I am an EFGO millionaire, she will leave her new husband for me!
low volume again, but despite the little "sell-off" I am not too disapointed with todays action, even with the market shedding off quite a few points, and with it being friday.
Have a good weekend all, CMF was up again. New week new hope.
Try not to kill each other this weekend.
I hope so!
EFGO Con to fleet control, this is the dive master, prepparing to surface.
We have permission to surface... Take her up!
Sometimes it means I need shares, but I don't really think the MM's use it anymore because people know about it. IMO it is someone trying to tick the MM's to see if they can fake em out.
Just a hunch.
I love it when people try that, maybe one time it will work.
This is entirely true, though people may or may not be a pumper or a basher, it is unplausable to think people do not have their own agenda. I am here to make money, that would never cause me to with-hold info or give false info, but I cannot speak for anyone else. Also know that it is feasable that information is misinterpreted or worded in a way that could cause confusion. We also know some people try to break down every tid bit looking for something to point out. I think people that take info from posters as the whole truth and nothing but the truth do not deserve to make a fuss about the info they are given.
However they have said they will PR in due time. They also gave a reason as to why it was delayed. This info is either good enough for you or not. That is a decission for you and you alone, stop harping on everyone that posts info here. If you can accept they will keep their word and PR it sit tight, if you don't believe it or cant wait, then well you know what to do.
I worked in banking during HS as an accountant, and it was a small local bank with 16 branches, we updated the ATM's all at the same time. I think with even 1 or 2 large deals a year this could add a lot to the bottom line w/o a high cost of sale.