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EFGO is going to do whatever Hebei Haorizi Company Ltd wants. I don't think they want a company with 90% of the AS already sold. After all the reason for going public is:
1. to raise money
2. to get rich from owning shares in the resulting publicly trading company
In either case it makes since to me that they will want to reduce the AS and increase the shares held by the company that they can give to themselves. The current share structure is not acceptable for a legit company.
I believe they will do this by RSing into a OTC shell before the RS into Hebel Haorizi.
At the bottom of the Nov. 28th PR it says:
In closing, Mr Winters added, "As our shareholders know, I have another key objective that I would really like to fulfill before I step down. That is to see Esprit up-list to a fully reporting Pink Sheet or OTCBB status. I only have one month left to make that happen, so we will continue pushing the pedal to the metal a bit longer. Winters add; "I can safely say that we are currently in the final stages of making this up listing happen and we have identified several possible candidates whose proposals we are entertaining at a serious and final level. We also have several other ways to make this up list happen with internal assets of IFGX, however the management plans on reviewing all of its options and those that are the most beneficial to its current shareholders before making a final decision".
It looks to me like they are planning 2 RMs one to clean up the share structure and up-list, and the other to RM with the Chinese company.
.0001 x .0004 - This is a technique used by MMs when they are trying to box a stock into the .0001 x .0002 region or worse to bring it down to .0000 They are short and are not going to let this run if they can help it.
They may be counting on a change in share structure prior to the RM.
They are on a short leash. I hope they make the best of the time they have!
The reality is that their time is not up until they run out of money. We may not like the fact that things are very moving slowly but there is nothing we can do about it. For you to say their time is up shows your frustration but has no other meaning.
Most of us are frustrated with this company but what are we going to do... sell at .0001? There is some potential here that makes it worth sticking it out for me. We all knew the risks of owing stock in a pink sheet company. We all knew they had little accountability and that they did not post audited financials. That is the way it is with most pink sheet companies.
Bigdogs,
I appreciate that you are positive about this stick, and that you have many good things to say.
But most of what ratso1 said in the post you are attacking him for is common knowledge among those who have been here for a long time.
Your personal attack instead of proving him wrong is an old debate tactic used when you cannot win based on the merit of the argument. In my opinion your post needs to be deleted as do many of the bashers posts.
I am sorry, but I am getting tired of all the banter from both sides. There are plenty of good and bad facts about this company. The worst thing is that they seem to keep chasing mirages, that is they keep changing their focus as they see new opportunities. To some degree I understand that. I am a bit of a dreamer myself. I just hope they find an oasis.
Unsustainable profits for 3 quarters.
Esprit has posted profits for the last 3 quarters but those profits came mostly from sale of stock and flipping a couple of shells. They have sold some software during that time but overall they are spending more than their SUSTAINABLE income from operations. When people on this board keep using the profitable for 3 Qs argument what many hear is that the "profit" came at the expense of PPS and therefore from them. That argument is like rubbing salt into a wound. I personally am in at $.0002 so I am not feeling the pain of this too much.
Esprit can become profitable in a sustainable way but they only have as much time as their current cash will last. They are chasing some big deals and inter-cultural deals take time. They still have enough time & resources to pull this off.
I monitor this board daily but rarely have time to get into the converstaion. I just wanted to join the party tonight, at least for a minute or 2.
Great day today! Congrats! Only the begenning though.
I always heard that an insider is anyone who holds more than 5% of the OS. But the SEC says 10%
http://www.sec.gov/answers/form345.htm
Therefore he is not subject to rule 144.
http://www.sec.gov/investor/pubs/rule144.htm
What rule requires him to register these securities?
What restrictions if any does he have to abide by?
Can he demand to look at the books since he owns more than 5%?
I am trying to understand what this means. Please help me out here people.
He flipped 9,475,000 at 0.0002 on 09/25/07
That doesn't sound too friendly.
How many shares you buy depends on you and your pocket book.
You need to buy enough shares to make it worth paying the commission.
There are probibly some things I am leaving out. I am sure the board will help me fill in ghe gaps.
Never bet the farm on any one stock... especially a pink sheet stock.
This will take you a while to learn but NEVER buy or sell on emotion. That is easy to say and hard to do when a stock is moving quickly. Also the more you have at stake the harder it is.
Establish your exit strategy BEFORE investing in a stock. Never buy a stock because someone gave you a tip. Investigate it thoroughly first.
Finally learn the tricks of the trade. There are many people with different strategies looking for the opportunity to leave new investors holding the bag (worthless stock).
You need to understand:
Pumpers
flippers
Market Makers (MMs)and their games
Investor clubs and groups
Company strategies, especially how they raise capital
Some raise capital by dumping shares directly into the market
Some do private placement financing. this type of financing gives the company about 1 year before the financing becomes toxic also known as death spiral financing
Pink and OTC companies monitor these boards and some have reps that post clandestinely to help achieve the companies aims.
Also know that few of these companies ever make to the big boards. Many if not most will go bankrupt trying.
Having said all this, there is money to be maid down here. I believe your investment in BUNM is a good choice. The main reason is that this is a company that has visible growth.
Be patient folks. It may be several months but this shell will come alive soon enough.
It is worth waiting for.
You are probably right.
Regulation SHO Threshold Security List
Background
As defined in Rule 203(c)(6) of Regulation SHO, a “threshold security” is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security;
The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and
The security is included on a list published by a self-regulatory organization (SRO).
A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days.
http://www.nasdaqtrader.com/aspx/regsho.aspx
1/2 of 1% of 2,104,435,438 is 10,522,177
So BUNM is short at least 10.5M shares and the number could be much more.
They don't say unless you pay.
What are the requirements to get on the SHO list? Isn't it a percentate of the OS? If so, that will at least give us a minimum number of shorts.
They will loose credibility if they don't and they can not afford that.
5.7M was the total shares traded today
Didn't we hear from the company that some of these Chinese companies have multi million dollar revenues?
That would but the value of the companies way above that, and 5% - 10% is ...$?$!?$!
The SEC may be serious about the new SHO regs but the MMs will certainly test them. If the SEC does not fine the companies more than they can make shorting the stock the new rules will be worthless.
Time will tell.
If the MMs are covering they haven't covered enough to get BUNM off the SHO list.
http://www.buyins.net/tools/short_list.php?ssd=20071009
Yes it looks like you are right.
Merger filing 6/20/07
Survivor filing 7/30/07
Correction merge 8/7/07
per post:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23538038
If these were related to a RS involving a corporation with assets and/or aspirations there would be PRs
I think all this activity is Michael Anthony working on the shell to make it more valuable. A DE corporation is more advantageous than a CA corporation.
When the company was moved from CA to DE, they had to first form a DE corporation and then merge SFTW into it. I do not know this for sure but I have seen this happen in other shells.
I tried to get to it on Friday but it was down then too.
Did anyone access the site over the weekend?
Thanks Allinxxl
Thanks eom
Sites of Corp De Esprit....
If you do a search of the page http://esprit-de.newwebsiteonline.info/corp-de-esprit.aspx for "Minaco" you get a link to Cash Now talking about the prefered stock?!?
http://cashnow.com/espritfinancialgroup/2007/08/14/esprit-releases-2nd-quarter-results/
Esprit Releases 2nd Quarter Results
Tag: TradeX • Super • Rights • Issued • Line • 600000 • Quarter • Releases • 2007
On April 17th 2007 the Company also issued 2000 preferred shares with 20000 1 super voting rights to Minaco TradeX Corp These preferred shares were issued in conjunction with a secured line of credits for up to 600000 ...
Why is this listed as a site of Corp De Esprit?
Sorry...
The link in the previous post does not give the same page as the one on the google search results page.
Click on the link below and then on the search result that is 2nd from the bottom that begins with:
Corp De Esprit | corp de esprit | Esprit Financial Group Inc ...
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=HPIA,HPIA:2005-21,HPIA:en&q...
I wonder why the google link results in Minaco Tradex China being printed as part of the heading?
Has anyone seen this?
http://esprit-de.newwebsiteonline.info/corp-de-esprit.aspx
Does this have anything to do with EFGO?
Is "Minaco-TradeX China" a major Chinese exporter?
Gotta go. Will check back in later
What I like most is that there is no RS needed!
Yes. At least he is trying to gain control, but we are not sure of the status. We have sent emails to Michael Anthony to find out what happened at the board meeting but to my knowledge there has been no response.
Matt24d, what did Michael say the ad revenue is? its it $1,000 per million ad presentations or $1,000 per million page views?
Ad revenue estimate for September:
This is based on my recollection of a post, by matt I believe, where Michael said he gets $1,000 per million ad presentations.
Page Views: 4,260,000
Ads per page: 7
Total Ads: 29,820,000
Revenue per million ads: $1,000.00
Estimated monthly ad revenue for September: $29,820.00
Ads per page estimate:
1 banner ad at the top
5 text ads on the right side below the FreshToons ad
1 roll-over ad (assuming they roll over at least 1 ad per page). I tend to avoid them if at all possible.
This could be way off if the revenue is click based or my revenue per 1,000,000 ads is wrong.
Any thoughts?
Only 2mm here
Value increases with every user!
I own several websites and know that registered users are a sellable commodity. The value of a user varies with the type of business.
I wonder how we can find out what users are worth for a service like Hypster?
The hypster.com numbers are impressive!
I like the growth!
What do they mean by "regional distributor"?
In several of their recent PRs EFGO said they signed regional distributors. This sounds like they are building a national sales force rather than selling software licenses. Does anyone have any insight into this?
RM vs RS... there may be little difference to us.
If the company is going to fill some of their shells with Chinese companies that will definitely benefit us.
But, if the company is going to use a shell to RM EFGO into in order to reduce the OS, it is the same as a RS to us. We get a smaller piece of the company for our investment.
For this to work company developments will have to be stellar with substantial revenue/profit to back it up.
If I were them I would make sure I got all my ducks in a row before doing either. There is some indication that they are trying to do it right. At any rate we are gamboling great things will come out of China.
Thanks Matt.
Follow up question:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23071573
Thanks. Question...
It looks like this represents the number of playlists and the number of pages required to display all the playlists. If we are taking the first number as the number of users, that implies that each user can only have 1 playlist. Is that correct?
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