NEW EMAIL FROM COMPANY.........................................See reply followed by /////////////////////////////////////
//////////////// Firstly, still working on the 2nd FAQ sent in but here’s this one till the other one gets done. Yes all replies within 7days as well. This is working rather well. Today only 45 calls to the IR down about 500%, so if we can suggest that when you post this that you make reference to the tread number ie SEE THREAD # 123456 for an official company reply to some FAQ; that way any new or future FAQ inquiries can be easily found, and we wont have to duplicate the work again. If we can just get everyone to send in e mails and do this bulk reply I and the guys can focus on the sales and closing couple of the big deals still pending, instead of answering the same questions over and over.
Dear IR:
Been busy today talking with other shareholders. Here is a list of questions
I have so far. /////////////////////////////// OK as agreed here’s the reply within the 7day period.
Remember with the downward trend we have hit since the change. These people
do have a right to be frustrated. So please don't take this questions as
bashing. ////////////////////////// We are not. I have a personal explanation why the downtrend happened and will share with you outside this official corporate reply. This is just my take on the things and not the opinion of the company. I can answer that under a separate cover.
1. Am I correct in my assumption that you are looking to do a R/M with two
companies? ///////////////////// There are 2 companies in play. We can only merge with 1. We have some ideas as to how we can use the 2nd one to increase shareholder value, who knows even PPS possibly.
2. Why must we wait until May 15th to see your earnings? Are you still
claiming you are in the black. If so, is it safe to assume that we aren't talking
about much black?
/////////////////////////////////May 15th is the due date for submission of our quarterly earnings. Putting together and reviewing financial statements requires significant senior management attention, particularly given the fact that members of senior management are held personally accountable should the statements not accurately reflect the actual operating results of the period in question.
We do anticipate that we will be able to release our quarterlies ahead of the deadline, but need to be cautious to properly reflect the recent acquisition of Global-Vision and other recent initiatives.
3. Why do you refuse to put out PR about your so called actions to be taken
against the MM's? Other companies do this daily. Is Garr running the company or
are the lawyers?
//////////////////////// We choose to take the high road. Slander is allowed to go ramped in USA because of certain legislation passed by the congress on Internet posts. (Simply put the congress passed a law that anything posted on the Internet constitutes educational and free speech and the Internet host can not be held liable) In other words (as you have seen and witnessed) “bashers” can say anything that contains not even a bit of truth to it and get away with it AS SO LONG AS THEY STAY PUT IN USA. Once ventured outside USA as we have with operations in Australia, Canada and the UK they can attract serious litigation especially in the UK. In Europe and Canada these types of PRs can only be issued AFTER the suit has been proven in a court of law, and NOT BEFORE like in the USA. The UK courts frown upon these types of activities and the financial penalties can be severe and crippling for the side that made the posting or PR if not proven in the courts first. We are in International markets so we must observe International laws not just USA ones. Enough said on this subject but be it known that there are some web sites that operate in USA which will post anything no matter how untrue by anyone, as they have done in the past on the previous management (2002-2005). It is interesting to note that these web sites will only agree to remove these postings upon a large sum “donation” to their offshore entity. Lastly, we note that there are no complaints in Canada, Australia or the UK with the exception of the USA where apparently 100% or all the “complaints remain unresolved”.
4. Now that the IR has been gagged from putting out any updates. Can you tell
us if we can at least expect to see at least one email a week from IR to
answer submitted questions? Or are we talking about a total information blackout
here. What about at least one PR update a week? You know, to keep things
official?
Please understand that we are not ‘gagging’ anything, and there will be no news blackouts. With the exception of our PPS, things are going extremely well. We will continue to provide regular press releases. Our position re: transparency has not changed.
We will probably no longer issue a press release a day. As your reaction indicates, shareholders were expecting news every day, and expectations kept on creeping up regarding the impact and importance of each upcoming release. We feel that we can provide the same timely information with one or two releases a week. We have some very exciting projects underway, but feel the need to manage expectations better. Garr and Jack had an excellent series of meetings in Texas last week. The Advanced Electronic Funds Management division, led by Jack Chang, is working on some great contract opportunities. However, one must bear in mind that we are looking at new financial services that are international in scope. These must be tested with our partner financial institutions before we are comfortable releasing news.
The bottom line is that we have experienced a lot of speculative trading, and distortion by market makers. Speculators have been buying on rumors and selling on news, which is a little out of whack.
5. Is it your new strategy to watch the pps fall to .0002 again?. Would this
be to allow you to buy back shares at a cheaper rate? If so, give it a week
and you will hit your target.
Absolutely not! We do not want to start that long climb again. We are working with a new Investor Relations group and are taking measures to further broaden our shareholder base. This will mitigate some of the distortion being created by the Market Makers. Our upcoming listing on the Frankfurt exchange is designed to have the same effect.
If our shareholders do not have enough faith to hold the stock based on all of the new business developments we have been discussing, then the market makers will walk the stock down, and then ride it back up again. The bottom line is that there have been no negative business developments over the last couple of weeks, and we have continued to release positive news. However, we will not pull numbers out of the air, or act irresponsibly. We say what we do, and we do what we say. The stock should be rising as we get closer to finalizing significant new contracts like the previously announced Japanese deals.
6. How long does it take to get approval to release the shock and awe news.
By now, I could have called the mystery companies shareholders one at a time.
Is it even a done deal at this time? Or are you just hoping to do this deal.
Shock and Awe. Those three words have certainly muddled up the works. How high is up? When we announced the letter of intent to build 50 Cash Now Payday loan stores with an estimated budget of $7.5 million, we consider that pretty substantial, and worth getting excited about. When we acquired Global-Vision, with all of its intellectual property and leading edge financial service capabilities, as well as bringing Jack Chang on board who has repeatedly worked with C level executives from leading financial institutions around the world, we thought that was pretty huge news. These and similar business milestones will have a dramatic impact on our business.
How many pink sheet companies are ‘development stage’, have no operations, no funds, and only nice ideas to peddle. Cash Now is a real company, with real operations. The new developments we are announcing are not smoke and mirrors. We said we would launch a forex website, and we did, on time and on budget. We said we were buying Global-Vision, and we have closed that deal. Let’s get realistic here. We have put things in place that will take this Company to the next level. And shareholders are complaining that we don’t have instant results? Are they expecting dividends before they accept that this Company is moving forward in smart fashion?
It seems common sense is a rare commodity. If shareholders are panicky after good news, what would happen if we ever released some bad news? Maybe the PPS would go up on speculation that things will get better.
7. What ever happened to the friendly MM's. Do they exist? They sure haven't
been here this week.
There is no such thing as a friendly market maker. They may be cheerful, and they may be supportive – if it suits their purpose. Ask yourselves why the market makers are trying to drive the price down. Simple answer; they expect it to go back up, and make a killing. There is a liquid market for EFGO. There is good news that will translate into significant top line growth. They are not playing with a stock that they think has no legs. They have figured out that within the next thirty days or so, there will be enough shareholder interest for the PPS to break out. So, as always, buy high, sell low loses money. Sell high, buy low and sell high again makes lots of money.
8. You ask us to have patience. Have you ever considered that many have been
holders for a year now. How more patient can we be. The majority of holders
here are way in the red. Remember, we aren't privy to all the information as to
what is really going on behind the scenes of Esprit. So allow us to be
frustrated.
We understand that many are frustrated. You can only imagine how we feel. We’ve been putting deals together left and right. We have made fundamental changes to our operations that will bear fruit in the not too distant future. Garr has been on board since January. It’s April 23rd. Look at all that has been accomplished in 3 ½ months. We will continue to pick up steam as we move forward. We can’t share information that is speculative. Companies are being held accountable by the SEC in a way that puts tremendous pressure not to reveal information prematurely. On our side, remember that we can’t announce things that are behind the scenes. That doesn’t mean that we are asleep at the switch.
9. Can you tell us how many different exchanges you would like to be listed
on by years end? What about next year?
We expect to be listed on the Pink Sheets and Frankfurt exchanges by the end of this year. With all of the other business developments and demands on management time, we have put seeking an OTCBB listing on the back burner for now. We may pursue that course next year.
10. Can you tell us anything about the other revenue streams to be brought
back on line? Time table?
At this juncture, it is premature to discuss new revenue streams other than those that have previously been announced. There are projects waiting in the wings. We are putting them on hold while we get all four of our divisions up and running on all cyclinders.
Again, thanks for your continuing hard work. It is appreciated by many who
still hold here. We still believe in what Garr, Jack and Richard are doing. Most
smart people understand, that Rome Wasn't built in a day.
/////////////////////// We agree and we continue to remain committed to our shareholders.
Respects and best wishes.
AI
