Listen, all you guys or gals that are screaming for audited numbers just don't have a single clue. I don't like being rude but sometimes It's just plain necessary. I have posted the same request myself before that I also eventually want to see audited numbers. But, there are probably no numbers to audit yet. That's what you guys just don't seem to get.
Just what do you people think this management team can accomplish in 4 months? God, I can't believe how unreasonable some of you people are. It's either that or you people are just down right ignorant. Give this company and this management team the time they have stated they need to get this company's revenue streams flowing. The last letter to share holders stated they needed about nine months to tie loose ends. If you people think that is an unreasonable request from management, just sell and get the hell out.
You whiners have costed us our daily PR updates by crying too many PR's and too many fluff PR's. Now some of you are crying you want the PR's. How about making up your minds, this board is getting more and more childish every day. I'm glad I have a life outside of this group I'll tell ya that for a fact. You guys really need to figure out how the market works cause It's obvious you haven't got a clue. Below is what you need to read. If you want to beat these guys (M&M's)at theis own game, buy more on the dips and forget about it till It's time to run to the bank. I'm gone for the rest of the day to celebrate my birthday. Read below:
Press Release Source: Esprit Financial Group
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Open Letter to Shareholders
Wednesday April 18, 11:45 am ET
LAS VEGAS, April 18 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com CEO Garr Winters provides update on Corporate activities in open letter to Shareholders;
April 17th was a roller coaster ride, with over 200 million shares
traded. The price per share was all over the map. Now that I'm back at
the hotel, I wanted to take a few minutes to discuss the status of our
plans, and where we are taking this Company.
First and foremost, I think we have developed enough of a track record to
establish that we are not selling hype, or creating some "pump and dump"
scenario. My compensation, as well as other senior management, is tied to
long term performance via restricted shares. Our goal line is still nine
months + away, and by that time, we expect to have a rock solid Company
with several complimentary revenue streams and bottom line profitability.
We are making prudent and calculated strategic moves to lay a solid
foundation for growth. But I know of no business where you can simply
'add water' and instantly have a new business division firing on all
cylinders. We are holding the course, and following through diligently on
sound business decisions based on potential ROI. Period.
Days like yesterday happen occasionally. There was tremendous volume, and
despite extreme downward pressure, the PPS did not cave. It may be
traders who wanted to flip stock as soon as the new ticker symbol worked
through the system. A significant chunk of restricted stock moved over to
free trading. The MMs may or may not be manipulating the market. Frankly,
it's not important. Our job is to build a profitable company that will go
the distance. One day of crazy trading doesn't change our focus.
Short term PPS can fluctuate at times, but even with a close at .0010,
the PPS has increased ten fold in less than three months. So yes, some
shareholders may get skittish, and take profits on a day like yesterday.
The point is, we are not in business on a day to day basis. Our planning
horizon is from 3 months to a year in most of our divisions.
More importantly, we are making excellent progress towards our goals.
However, patience is required as we build out the infrastructure and
operating procedures for our various divisions.
I'm down in Texas working with Jack Chang to set up relationships with
partners that know and value the quality of his credentials. His network
provides access to excellent suppliers and strategic partners with whom
we can pick up a phone and begin discussing business on a credible basis
without extensive due diligence regarding our Company. Does that
translate to instant revenue - absolutely not. If shareholders are
expecting an announcement that we have locked up a multi-million dollar
deal within the next week or so, that's a little naive. Major deals do
not happen that quickly.
Is there a reason that we are not sharing names and revenue projections
at this stage? Absolutely. We are committed to a transparent program to
keep our shareholders in the loop, but never in a foolhardy or
unrealistic manner. We are holding back information on programs until
they become real, and have a strong likelihood of success. In the short
term, that means putting business relationship in place on the strategic
partner/supplier side. As far as whether there are business contracts
waiting to close once our business foundation is properly completed, I
can only say that we have very interested parties pushing us to become
fully operational so that we can handle their business.
But, and this is important, rushing through the process prematurely does
not serve any of our stakeholder interests. A slap dash agreement just to
put numbers on the board is not good business. We want long term
customers. We want referrals. We want an excellent reputation in our
chosen business sectors. In short - we are building credibility. We do
what we say, we say what we do.
As most of our shareholders know, we have tried to be very transparent
since I came on board in January of this year. We have been very busy
beavers broadening our product and service portfolio into strategic,
complimentary areas. There has been a lot of information to share, but
perhaps some unrealistic expectations have taken root.
So, a quick recap:
Our Payday Loan division: There are new license agreements being
negotiated for multiple locations, from previously announced Japanese
clients to smaller domestic multi-store locations. Software is being
revamped, and will be redesigned to handle foreign currencies with ease,
opening up many new international markets.
The Forex division is young. Yet our website is fully functional. We are
waiting for a couple of software modifications (mods) before rolling out
mirror sites, with the next one ready to be released as of this date.
Once completed, we will begin an online and offline marketing programs to
generate traffic and new accounts. There are plans to diversify
vertically, but these need some discussion and additional strategic
analysis. Forex trading is in a very dramatic phase of change. We will be
careful to proceed in the best way possible, after due analysis of
options and negotiations with potential acquisitions or development of
our own resources.
The AEFM division is very new, having just completed all of the requisite
conditions for the acquisition. Jack and I are wasting no time putting
key relationships in place to support the various products and services.
I will be able to provide a better time line and expectations after the
round of meetings this week. What I can say is that Jack can pick up the
phone and get through to anyone we have needed to talk to. This
tremendous amount of credibility and Goodwill is not reflected in our
financials at this stage. The value of being able to skip through the
first 6 months of back and forth, is the difference between a market
leader versus second or third in with a 'me too' product.
Our structured debt settlement services have garnered interest from
several serious potential accounts. At this point, there's nothing to
report in terms of revenue. We are going to redevelop our software
platform to accommodate this type of transaction, and must still develop
rate cards and billing policies. We're a couple of months from beta
testing. Do we feel we have a winner? Emphatically! Timing of new revenue
streams - not likely for another 120 days.
We will continue to provide information, even if there are no revenue
numbers or projections we can comfortably share. Let's remember that when
Xerox invented the photocopier, they considered the market so small and
highly specialized that it was hardly worth the bother. We can project
impressive numbers all we like. It may keep investors excited - but not
for long. As I mentioned in the beginning, we are holding the course. We
feel we are doing the right things to build true shareholder value. I'm
prepared to have my performance judged in the longer term, when we
provide realistic projections that we deliver in the real world.
A final word of thanks to the entire management and support team that
have been putting in long hours to make things happen. I am very proud of
this team of high-quality individuals, who put aside the usual petty
office politics, and work extremely well as a team focused on results.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, (formerly Cash Now Corporation) is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner www.cashnow.org . The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
Structured Debt Settlement: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
AI
