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Hey Govols, Sorry, I've been away. If you need me too, then I can. Efgo is going to do very well here soon, IMO.
Hey EFGoVols, glad to see you here. I believe good things are a comin'. Guess we'll see. Hope you're doing alright Allinxxl. Don't be a stranger and thanks!!
however what you didn't mention is that they have many more facets of the business that have been created only recently. That is what essentially makes it more of a start up company.
no problems getting on town hall here
EFGoVols, I absolutely support this company. I have had and will continue to hold my 23+ million shares since around early March. Looking to add more shortly. I believe we will see some good news soon and it will be good for all of us. I would appreciate anything you could share. Thanks.
have you heard anything as far as the magnitude of any of the deals?
you mean so they can announce their intentions before the deal is done so everyone can call and prod and mess everything up? No thanks.
none, we've been at five before and above without any talk of china revenue.
I'm still here but not for too much longer
very nice post. as long as the company doesn't r/s for no good reason, then you're right, this can't go any lower. If they don't r/s then you almost can't lose.
a r/s would be the best way to tank this pps for good
Allinxxl, do you see a major deal here soon with China? Thanks for the info.
Why did EFGO management say that they would be busy for the next couple of weeks?
Busy doing what??
will you PM me. I won't tell anyone. Thanks
universal, do you think this stock will ever recover or do you think it is completely a lost cause?
oh no, this could go down far more than 100% with a r/s and a printing press.
Hey Allinxxl, I'm a long here. Been holding my shares for half a year now. Want to believe for the best but the worst scares me. We are taking them for their word that they won't R/S and dilute and mess us over. Do you really believe the company is not going to rip us a new one and that they have good intentions? Do you have any clue how many shares the insiders hold? Do you really know if they are going to uplist and that they really have something going on in China? TIA
hey alinxxl, any good news to report lately? everythings been kinda quiet with the company and the board here.
IMO, I really don't believe there is a short position here. Just my opinion. When CHNW went to EFGO, no spike in pps and they had to cover then right? Hope I'm wrong, but I don't feel that I am.
has anyone got any 1's today??
has anyone had any contact with peter, steve, leslie, etc... any time lately?? link me to a post # if you can? TIA.
that would be worse. If you think people don't complain now about the company informing them, then try your method. I also like town hall. It's nice having updates every few days or so even if they aren't earth shattering
nope been trying for 2.5 weeks now.
MUST READ!!!
The following is an email I received back from EFGO. Last week sometime Ratso1 made what I thought were 3 very pointed but good posts and I thought they should be addressed by management. The posts were 70611, 70606, and 70601. I sent them the posts and asked them to address all of the concerns and questions. It took them some time to do so but they did nevertheless. This is a lenghty Q&A session but here it is. I thought everyone should see it. By the way, the responses from EFGO will begin with \\\\\\\\\. If it doesn't have \\\\\\ then that means it was ratso1's post (I would like to get everyones thoughts on this):
If they are such good and trusting partners, then a convoluted, dis-jointed, mind-warping, if not downright goofy stock arrangement as some imaginary form of security is an insult to the incredibly high level of trust they must surely have in each other
\\\\\\\\\\What happens if there is a change of control? If the Company is sold? If there is a merger or acquisition? Garr has worked for close to 10 months on good faith, and continues to do so. We think he has earned some form of reward, and are not prepared to put that into jeopardy if there is a change of control and he has nothing in his hands to document the debt.
But, the real affront here is what has happened to the common shareholder. What is being footballed back and forth between Garr and Mr. Minaco is what, BY FUNDAMENTAL RIGHT, should be the PROPERTY OF THE COMMON SHAREHOLDER. The ownership of this company now resides in the owner of those preferreds, ownership that was signed away by a board of directors that was derelict in their fiduciary responsibility to protect the interest of the common shareholder.
\\\\\\\\\\\\The ownership in the Company is determined by the number of shares outstanding. You, my friend, have more equity in the Company than Garr. When it comes time to distribute dividends, or assets for that matter, he will have a few hundred shares compared to the millions you hold. They are super-voting shares. That means they can be used to approve or deny motions put forward at a shareholder meeting. If you don't believe that Garr should be allowed to steer the Company, you shouldn't be in this stock. If you bought in as a speculative investment to flip the stock for short term gain, well, that is the risk you took. We are doing everything in our power to add value to the Company. And that means investing in assets that have growth potential. A real business does not succeed by 'just adding water'. We are committed to providing long-term value.
The commoners no longer own this company, cannot vote or make fundamental decisions concerning the direction or destiny of this company, no longer have claim on company assets or property, and on and on. That was stripped away by the officers and management of this company and plopped into the lap of a DISinterested third party that has almost NO proportional economic interest.
\\\\\\\\\\\\The outside common shareholders of just about every single Pink Sheet company do not have voting control. There are few instances where the direction or actions of a company are decided by outside shareholders. You certainly did not have voting control 6 months ago.
\\\\\\\\\\\\\The biggest challenge for 90% of Pink Sheet company's is the need to raise money in order to continue operations. Most financials have to disclose that the Company cannot be considered a going concern without raising additional capital. Esprit does not require that disclaimer. Yet you seem to be stating that we would be better of without secured access to additional capital and would rather see us struggling to raise funds than having sufficient liquid assets reserves to more the business forward. How much management time do you think the average Pink Sheet Company can devote to actual operations, when they need to raise funds to last another quarter.
The fact that the approval and creation of those shares was drawn up almost eight months ago indicates that this was planned all along; that it had nothing to do with credit lines for purchasing shells, or as form of security for managerial compensation. Additionally, management has been anything but helpful in providing timely disclosure concerning this development. The deed was done back in February, wasn't filed with Nevada SOS until April, and then with NO NOTATION, so no one would discover what had transpired without sending for the filing. Then, the voting privilege was understated in the company financials by literally billions of shares. Were it not for the notation in the Attorney Letter, we would not likely be having this conversation today, as no one would know, let alone have interest in what had been done.
\\\\\\\\\\\\\\\The preferred class of shares was drawn up much earlier in the year. Many companies have multiple classes of shares. Preferred shares normally carry preference before common shares to any distributions from the Company. They often have quarterly dividends that, if they go unpaid, accumulate as receivable ahead of the common shares.
\\\\\\\\\\\\\\sprit has not taken any money out of the hands of common shareholders. The preferred shares have preference only as to voting rights. And, as we have noted above, nearly all Pink Sheet companies are controlled by insiders.
Now that they have fully diluted, and it is now admitted that an RS is coming, would it be presumptuous to assume that those preferred shares are going to be a part of the equation before the dust settles? Does anyone here really think otherwise?
\\\\\\\\\\\\\How many times have we stated that we will not do a reverse split simply to reduce the number of shares outstanding. Yet you claim that we have admitted that a reverse split is coming. Please point out on any of our press releases or Town Hall posts we have said we will be executing a reverse split.
AND
Can anyone tell me who the beneficial owner of those 2,000 preferred shares issued last quarter over on our sister company, GVHL? Is it Minaco-Tradex? After we just sunk in $250K of OUR money into it, it certainly looks like yet another dis-interested third party has control over there, as well. Of course, we don't know, as there has been no disclosure as to the identity of that beneficial owner.
\\\\\\\\\\\\\\To the best of our knowledge, Esprit has provided all required disclosures. We have gone well beyond most companies in sharing corporate developments - and that includes big-board companies.
What are the odds of two separate companies having the exact preferred class structure?
P.S. They show in the fins that the voting privilege is 20,000:1. Hmmmmmm...
\\\\\\\\\\\\\That was an error that crept into the financial and we provided correct information as soon as we realized it. There was no attempt to misinform, and we pro-actively announced the correct information upon discovery of the error.
AND FINALLY
If it's a worthless piece of paper, then why issue it in the first place?
\\\\\\\\\\\\We never said they were worthless pieces of paper. That was a posters comment, not ours. Similar to the way you state that we have admitted a reverse split is imminent. The shares have no voting privileges unless the line of credit is drawn upon. The power to vote is revoked upon repayment of the line of credit.
And no, it's DEFINITELY not OK for him to give back the 144 shares. That's the only thing that made him equally yoked and pulling for the commoner. He gets his penny a share, we get our penny a share. How many times did we hear that as an incentive to buy this stock? That type of arrangement works well for several thousand other equity issues,right? But, even that is beside the point...
\\\\\\\\\\\\\\\As we have stated on numerous occasions, one of the key factors determining the value of any preferred shares he holds will be tied to a number of metrics, including top line revenue and the value of common shares. His compensation is directly tied to the stock price.
What's not "OK" was the creation and issuance of those Class Bs in the first place.
\\\\\\\\\\\\\\If you object so strenuously to the existence of the preferred class of shares, you had ample opportunity to exit the stock at the time, at a much higher value.
I sent my first question to town hall last week that they refused to answer. It wasn't an easy question. Doesn't set well with me. My question was actually some posts from other posters here.
what are you bidding if I might ask??
nope, not here, been trying to two weeks now. anyone else having any luck?
Where did you get this info:
Garr will not be running EFGO after the holidays and he will be much more well off.
I thought he would be around, just not full time. Is that not the case? Please explain.
just called TDA and the guy stated that whether you place an order online, automated phone system or speak to a rep it is all routed through the same electronic network. He stated that there would be a longer delay using the phone vs placing online but did not indicate there is a better chance of an order being filled over the phone vs online. If it all goes through the same network, my logic would tell me there is no better chance but then again, who knows for sure.
thanks for the advice brian. I will cancel my current order and try your method first thing tomorrow.
I wish I could get some 1's right now. Been waiting nearly two weeks for any 1's and have gotten none.
regardless, all companies still have the safeharbor to cover themselves.
Janice, have you done any more research on EFGO? Found anything yet?
I can assure you they might say the bid was at 0 today but it's not because I've had a bid in all day.
Yeah, probably just a matter of time before they do something illegal and convert shareholders into bagholders, if they haven't done so already. Guess we'll see. Thanks for checking.
Jim, do you see something shady going on here with this company or are just now starting to check it out? What led you here to EFGO?
Ah ok. Yea, things looking dismal here and have for some time, but hey the company says and has been saying, deals in the pipeline. What else is new.
just curious, what led you have interest with EFGO?
If you find anything, please let us know. Thanks again.