LOL, those wolves musta bit you in the brain a few too many times for that post attacking me like a wolf would. :o)
Anywho, just read the following PR and look at what is said. They intend to buy this company using 90% "S H A R E S." If that isn't dilution, what is? Also, read the part about stock options, more dilution.
Look at other PR's where they state a capital investment is required. Just where do you think that will come from? They showed a slight profit last Q, but that did not include any wages. As far as cash flows and or profits covering expansion costs, you better think again. That won't come for a couple of years yet.
Now, why don't you show me proof of a buyback. Think about it, what growth company buys shares back in the beginning of expansion?
My negativity is just repeating what I'm seeing. People like you don't have the guts to tell the truth cause you're afraid to death of losing money. That is why I am now a profitable trader, cause I have no fear of loss. Read below:
Esprit Financial Group, Inc. (EFGO.PK) Announces Plans to Purchase International Express Payment Corp. (iexpay Jianxi)
Friday May 18, 10:59 am ET
LAS VEGAS, NV, May 18 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK - News) announced today that further discussions with International Express Payment (Jiangxi) Corp. have resulted into consideration of an acquisition of iexpay Jiangxi by Esprit.
Further to the press release by Esprit issued on May 17 2007, Esprit has agreed to hire founders and principal shareholders Robert Xu and Peter He as of today's date moving forward. Both Robert and Peter will work in concert with Esprit's project manager of EM2 Jack Chang to speed up the process of making iexpay Jianxi an open loop payment system so to enable Esprit to begin generating revenues at the earliest.
Continued in-depth discussions between Esprit and iexpay Jiangxi have prompted the parties to consider a friendly takeover of Jiangxi by Esprit. Robert Xu has said "We are very thankful and excited about this opportunity with Esprit, as we see a huge up side potential for the iexpay Jianxi under the Esprit umbrella. I'm very impressed with the operations of Esprit and the ability of the management of this company"
CEO Garr Winters noted; "Our discussions have proven very fruitful. The more time we spend with each other, the greater the synergies that become apparent. Through our discussions, both Robert and Peter have recognized the opportunities within Esprit to further grow.
Winters added; "We will continue discussions through the weekend, and early part of next week. The key areas of discussion will now focus on corporate valuation and conducting due diligence of iexpay Jiangxi. It is anticipated that once this deal is consummated, consideration will be a 10% cash and 90% stock transaction. The purchase of iexpay Jianxi is valued at about $ 2,500,000.00 USD.
Esprit will issue restricted shares in exchange for controlling ownership of iexpay Jiangxi. Mr. Winters added this should put to rest the issue as to why Esprit increased the outstanding share structure several months ago once and for all. This needed to be done to allow Esprit to acquire growth opportunities, and to further seek out additional revenue producing opportunities to add to Esprit's group.
In addition, both Peter and Robert commutative remuneration will be pegged to the performance and the success of the iexpay Jianxi. Mr. Winters added, in keeping with Esprit's key management and performance pay structure both Peter and Robert will be paid $1.00 annually plus favorable stock options".
Although Mr. Xu and Mr. He own a substantial majority of the iexpay Jianxi. Esprit's management will want to consult with minority shareholders as well, in keeping with Esprit's good corporate philosophy of open dialogue and consultation with all stakeholder groups large or small".
Iexpay Jiangxi is a federally incorporated company in Canada, with corporate offices headed by Robert Hu in Toronto, Ontario, Canada and operational and programming support offices with approximately 20 support staff managed by Peter He located in Jiangxi, China. Iexpay Jianxi owns several trademarks and proprietary patents in China of the iexpay Joangi payment system.
Winters concluded; "We see tremendous growth opportunities in the Asian market. This deal will not only provide a solid platform from which to maintain continued growth within China, but will also provide a very cost-effective center of operations from which we can develop future growth from other Asian countries. The Advanced Electronics Fund Management division, headed by Jack Chang, has previously identified the Asian market as a key geographic center of operations, and opened an office in Hong Kong. Once this transaction is consummated, we will move all operations to iexpay Jiangxi's office in China. As International Express Payment Corp head office is located in Toronto Canada, their Canadian operations with Esprit's operations in Toronto should be a relatively seamless and easy process with little or no business interruptions.
As Monday May 21 2007 is a Federal holiday in Canada, and Esprit will not have an opportunity to seek external due diligence of this purchase with Canadian governing bodies, Esprit management foresees that further guidance regarding this acquisition and discussions will not be forthcoming until at least the middle of next week.
AI
