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can someone post time and sales, I know that I have a buy for 500,00 at 3:53pm.
EFGO >>>> NEWS OUT
LAS VEGAS, May 21, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that the international banking arrangements for its prepaid Visa card are now in place with a USA based issuer.
Esprit's Advanced Electronic Funds Management (AEFM) management team has completed setting up the banking relationships in the USA necessary to go live with its prepaid Visa Cash Now card. The website, located at www.cashnowcard.com is nearing completion, and currently operating in a Beta format. Even though the site is not live, it has been collecting debit card applicants' contact information from interested consumers. Marketing activities have been restricted to organic search engine placement. To date, Esprit has collected roughly 10,000 opt-in contact details from consumers interested in this product.
Esprit management has projected that the Cash Now Card division should be in a position to attract mid 5 figure to low 6 figure sign up rate (50,000 to 100,000 customers) within the next 18 to 24 months, once the site goes live, and sales and marketing programs are initiated. This product should, by our estimates, be capable of generating about 1.5 to 2 million dollars in revenue on an annualized basis at the end of this time frame. Importantly, customer life cycles average about 5.2 years according to industry experts. This creates a compounding monthly revenue stream as Esprit builds its base of cardholders over the next few years.
Jack Chang, head of Esprit's AEFM division, will be supervising the integration of the issuing bank's Internet enabled back office reporting software, working in concert with the UK processor, Credit Card Solutions UK (CCS). The Cash Now Card program should go live within the next 30-45 days. He also noted: "Esprit's service capabilities went through a due diligence process with our issuing International Banking suppliers. We have been given a green light, and can begin completion of the software interface and back-end reporting systems that will tie into our issuing bank's systems."
Demand for this type of International product is strong. Trends indicate the most sought after payment system applications worldwide are:
- Money Transfer (Remittance) - Payout (B2B & B2C) - Payroll
The international prepaid Visa card is a fully functional prepaid Visa card that can be issued to residents of most countries around the world (a similar MasterCard program will be available for U.S. citizens).
The Cash Now Card product features all of the normal benefits of a prepaid Visa card. The Esprit product will feature advanced capabilities that include:
- ATM withdrawals & POS purchases worldwide - Bill payments, signature-based purchases, mail order, telephone order and online purchases - Card-to-card transfer of funds - Payroll functionality for simplified payroll functionality where funds can be batch loaded electronically directly to employees with the Cash Now Visa Card. This is a major benefit for overseas workers and residents native to less developed countries where employees may not have full banking benefits. - Check Cashing - The cashed amounts can be put on the cards. This approach will minimize the amount and handling of cash at Cash Now licensees' storefronts. - Money Transfers - The recipients can be International Debit Card holders. Money can be card-to-card transferred via the senders' cards.
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 able to launch sales and marketing initiatives for some products to bring revenues on stream, ahead of our initial third quarter of this year projections."
In other company news, Esprit Financial Group, Inc. is currently featured at Stock Guru, where a profile and other information may be obtained. To view the StockGuru.com Profile for Esprit Financial Group, Inc., please visit: http://www.stockguru.com/profiles/efgo .
In closing, Esprit CEO Garr Winters noted: "It has come to our attention that there are rumors circulating in the investment community about a possible reverse split of EFGO stock and an increase of the authorized share structure. I wish to take this opportunity to stress this point yet again, that there are no such plans to do any of this in the foreseeable future. We ask our stakeholders to please check with reliable and official source of information suppliers such as www.pinksheets.com and our corporate web sites or the town hall at www.cashnow.com/espritfinancialgroup . As previously announced we do have an agreement in principle with Jianxi (iexpay.cn) for a revenue sharing relationship and both sides have expressed interest for the Company to be acquired by Esprit. As Esprit had provisioned for this or similar purchases some time ago, there is no impact on the number of authorized shares, and any shares issued related to this acquisition will be in the form of restricted stock, and thus, will have no impact on trading until they are vested. This week we plan to complete our due diligence process of this acquisition and we will continue to report information in a prudent manner.
EFGO>>>>> NEWS OUT
PDGT---> I agree something is up, the float seems to be drying up.
I agree this is going to get crazy
WOW!! this is being posted everywhere
I can't get filed either?? I'm going to keep my eye on cttj
LAS VEGAS, NV, May 18, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that further discussions with International Express Payment (Jiangxi) Corp. have resulted into consideration of an acquisition of iexpay Jiangxi by Esprit.
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.
EFGO >>> NEWS JUST OUT
GBDX>>> If we close in 7's, then tommorrow, we will hit a penny $$$$$
I think I am going to convert half and ride the wave with the other. For some reason i have a feeling that f we dont convert their going to do a r/s of our a$$, but I hope i'm wrong. GLTY.
GBDX >>> MM's can't hold a girls best friend back. Diamond are forever!!!
WOW!! EFGO>>> may be our new bagger
GBDX only 1 MM left. hopfully buy 2:00pm we should be in the .007's
GBDX: MM's loading off the 6's. Get them while you can.
IM holding GBDX, I see a penny later today.
GBDX >>> Get your bling bling while there on sale.
GBDX >> When news hit I see $$$$
I am riding the wave all the way to .55
AURC>>>> she is growing slowly
AURC >>> looks to test .20 buy EOD
AURC>>> MM's loaded up, and ready to unleash this puppy.
AURC >>>> monster run comming
AURC >>> 2nd run comming
I am going to reload as well, great buying opportunity
AURC we should be in the .20's by this afternoon
AURC >>> $$$$$
AURC this baby is running hard
AURC>> do i see .19
AURC >>> .18 are being chipped away like a woodpecker
AURC >>>> .20
will be here soon.
EFGO all the way!!!
I am also ready, this is so going to pop. I can't for for the next pr
Good morning everyone
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Releases Financial Statements for 1st quarter 2007
1:30 p.m. 05/15/2007 Provided by
LAS VEGAS, May 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com released its quarterly financial statements today.
The Company made significant progress in the last quarter of 2007, showing a net profit of $2,753.00 versus a loss in the previous quarter of $168,409.00, an improvement of over $170,000.00. Income increased by 25% in the current quarter.
The net profit includes $40,000.00 in accrued development costs. On an adjusted basis, profit, excluding planned web development, would be $42,753.00, or about $.07 cents per 100k shares outstanding.
With a commitment to running a lean operation, the monthly burn rate (operating expenses) has also been reduced by about 28%. Key savings have been achieved in rent & utilities and salaries, wages and benefits partially offset by outsourcing website development. The savings achieved are in excess of $70,000.00.
Cash on hand increased by $523,307.00 from $342,208.00 to $865,515.00, due to certain recently announced financing activity and the sale of the Global-Vision company.
Importantly, the current revenue run rate is adequate to maintain ongoing operations as an ongoing concern.
Esprit CEO Garr Winters commented; "This is a first step for us, as we move the Company forward towards our goal of providing a diversified portfolio of Internet enabled financial products and services. The first quarter results do not include the revenue streams of any of our new divisions. We do not foresee a major impact on revenue immediately, but do anticipate gradual and significant growth of top-line revenue through the rest of the year as the new products and services go live and begin to ramp up to full operation. In short, we have a stable base, and envision continued long-term growth moving forward. Our strong current asset position gives us the ability to execute on our long-term strategic plan without delays".
Winters added; "We are currently putting some realistic numbers together on a pragmatic basis to generate revenue targets. This will require some serious analysis, as many of the contracts being developed can have a significant impact on overall revenue. Realistically, we won't close every deal we're working on. Our approach will be to err on the side of caution. We hope to be able to provide more detailed guidance in the near future".
The financial statements are available for download at the corporate website on the Town Hall page http://espritfinancialgroup.com/Forum.html and are currently in the queue to be posted to the Pink Sheets, where they should be publicly available shortly.
EFGO--> News is comming, i can smell it.
EFGO + afternoon news = :)$$$$$
<<<Dont be left behind when the EFGO train, starts moving>>>>
EFGO>> volume pouring in agian
RSHN>> lunch time slow down >> after lunch we should print some 8's