What ever happen to the NOBO list findings and the Sharebuyback
Here is the PR on the NOBO list did any news come out pertaining to the findings and does anyone have a link to the PR on the Sharebuyback.
Thanks
October 24, 2006 - 11:05 AM EST
Cash Now Corporation (CHNW) Requests 'NOBO' List to Determine Shares Outstanding
FORT LAUDERDALE, FL, Oct. 24 /PRNewswire-FirstCall/ - Cash Now Corporation (CHNW.PK), www.cashnow.com, (Cash Now), a public company engaged in the design, manufacturing, marketing and distribution of customized payday loan and check cashing software and systems, internet based payday loans, and other sub prime financial utility tools, today announced that it has requested a NOBO (Non-Objecting Beneficial Owner) report. The NOBO, which stands for Non Objecting Beneficial Ownership, list shows a more complete corporate ownership profile than is available from the transfer agent alone. 'We will be reviewing the NOBO list,' explained President John Falting. The process is underway and the company agents are coordinating responses from banks and other institutions. The report will provide information about how many Cash Now shares are outstanding and the number of holders of the company's shares. Cash Now expects to receive the report on or about the week of November 20 2006, and will release the aggregate data as soon as possible after receiving the report.
Our primary interest is to our shareholders, and the creation of value for all company stakeholders. As the company moves forward with increasing sales revenues and anticipated earnings from operations, it will be very important that the company has an accurate list of its shareholders and an effective communications channel with them on a continuing basis. 'We are committed to remaining transparent to our shareholders - we want them to know exactly where the stock stands,' said Kevin Price, CEO of Cash Now. 'As we work to shift our stock from the Pink Sheets to the Bulletin Board Exchange, this is one more step in that process.' We believe that an organized program to short the stock is responsible for the devaluation of the Cash Now stock that has been occurring recently. Cash Now has made several announcements over the past few months, of various corporate acquisitions and infrastructure improvements, with most of those acquisitions being made in cash and restricted stock. Cash Now management has paid great attention to the redistribution and in most instances restrictions as to how much and what manner these restrictive stocks can be sold and distributed in the future, once they become free trading.
According to the company records there are approximately 590 million outstanding shares, on an authorized float of 950 million shares. The outstanding share structure represents both free trading and restricted shares. With an institutional financier already in place, the company projects that it may be in a position to re acquire as much as 220 million outstanding shares (at current price levels) with this institutional financiers backing, and support over the next 6 to 12 months.
ABOUT CASH NOW
Cash Now Corporation (CHNW.PK), a pioneer in the Internet payday loan, and check cashing industry, is developing the most comprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. For instance, the Cash Next Super Broker concept is taking North America by storm! Our team of highly qualified financial executives know what works, and what it takes to place your loan request! Cash Next is backed by a highly experienced team, delivering blue chip solutions for businesses, and consumers. The company's proven business model includes licensing to corporately operated joint venture locations across the U.S., Canada, Australia, and UK. Cash Now offers a Payday Loan License program, Payday Express; a Payday Loan and Check Cashing License known as Check Express and an Authorized Agent Program for existing retail establishments; as well as a host of related financial services for small and medium-size businesses this includes the Cash Next broker program. Cash Now with its web based and focused outlook has won the Golden Web award in 2001, 2002, 2003 and 2005. In 2005 Profit Guide magazine ranked the Cash Now Group 10th in its list of the 50 fastest growing and most promising emerging companies. In 2005 Cash Now was ranked (#) 44 out of top 1000 fastest growing franchising companies by Entrepreneur guide.
'Safe Harbor' Statement Under the Private Securities Litigation Reform
Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as 'may,' 'will,' 'should,' 'could,' 'expects,' 'plans,' 'intends,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'forecasts,' potential,' or 'continue,' or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
SOURCE Cash Now Corporation
Source: PR Newswire (October 24, 2006 - 11:05 AM EST)
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