note from another board
cashnowcorp*cashnow.com wrote:
I think that the interview will be posted on their site soon. I do have in point form what he said or the message he way trying to convey if that helps you. I have no problem sending you that as thats already out. I dont know if he used all of the points or some and in what order he used it. Hope this answers your questions?
POINT 1.
Cash Now, is currently active in the Payday Loan Business. The Company has developed a comprehensive suite of Internet based payday loan and check cashing software and private label back end office systems. 2 broad revenue streams from ongoing operations include:
1. licensing of its software to franchisees
2. Direct lending on line.
However, the current thrust of our business is the introduction of a retail Forex Trading platform.
This is a very exciting opportunity. We have established a strategic relationship with a partner that provides true pass-through trades, without any manipulation or slippage common to the industry. Trades will be executed at the true InterBank rates. Our clients will benefit from the ability to trade directly on a US Bank feed. There is no trading desk. Our clients will benefit from a true 2-3 PIP spread on all major currency pairs.
What’s interesting, is that we are not targeting novice Forex traders in the fashion of our competitors. Our trading platform was designed to meet the needs of organizations that trade in excess of $100 million. We are now making that technology available to mid-market active Forex Traders.
We believe we will benefit from the advantages of being a first mover into the mid-market retail Forex trader will position us to leapfrog the market and attract the most active traders – generating significantly higher average trading activities per client.
Point 2
We are not currently looking for any additional financing.
Point 3:
The short answer to your question is the prospects for growth are geometric.
The Forex market trades in the range of $2 trillion dollars daily. Roughly 2% of that is represented by retail traders.
The Financial Times website an article last Fall noting that "The foreign exchange market will have doubled in size in just three years next year, thanks to increased participation by fund managers and pension funds ".
It expected total global average daily volumes on the FX market to exceed $3,000bn in 2007.
We anticipate that the retail Forex trade market is about to undergo the same type of growth curve as internet stock trading when it was first introduced. We can see an opportunity for the retail market to grow to 5% from 2%.
As in Internet stock trading, as traders become more comfortable with the service, they will become more demanding. It is that experienced trader that we are targeting.
As we move forward as a Company, we will continue to develop opportunities that have our core 3 features for participation:
• Financial Services
• Consumer facing either directly or through intermediaries
• Internet delivered
There are some other key opportunities in areas that fit these criteria. However, in the short term, we have our work cut out for us developing the Forex services platform.
Point 4:
We are old school in our management style. We have built a team of experienced, well-seasoned professionals in Finance, Legal, Marketing & Sales. These are people that have lived through all stages of Company growth. They’ve seen mistakes made, and have made some themselves. We are not keen on cutting edge management theory, exotic business deal structures etc.. We take a very fundamental approach to management, and have faith that the business model is very sound. We are focused on execution – particularly in regards to the Forex products. We just need to make sure we don’t screw up.
Point 5:
Undoubtedly, its our trading platform and fee structure. We don’t intend to be greedy, and misrepresent things to our client traders. We’ll take a smaller piece of a larger pie. By offering direct access to Bank feeds, our clients are assured they are getting true value. That will build long-term loyalty.
We’ll let other competitors train ‘newbies’ to the Forex market. When they know what they are doing, and can ask the hard questions re: value received per trade, they will migrate to our platform.
Point 6:
First and foremost, we aim to get our Beta Forex site up. We want that out by the endo of the month.
Obviously, are corporate name will need to be adjusted to reflect the broaders financial services offerings. You can anticipate a name change and new trading symbol at some point in the neat term.
Importantly, the stock has been the target of short selling. The name change will force these short traders to cover their positions, and we may see a short squeeze play out.
Once the Forex platform has been proven, we’ll go fully operational and start a marketing campaign to build trading volume.
In addition, we anticipate that we may close an additional deal to continue horizontal integration within the financial services sector while building on our core values and competencies.
• Financial Services
• Customer Facing
• Internet delivered
Point 7:
We are fully committed to providing our shareholders a great return on their money. Our Forex services represent excellent growth potential.
Addressing the short selling of our stock is also a key priority. We believe that the shorts will clear once the Forex platform goes live. It will become too risky to short the stock given the fundamental value being created by the Company.
AI
