Flexpower Inc. (FLXP)

[PayDirt!]

In follow-up meetings with the two sister companies since returning from China, Esprit and Check 21 China have finalized terms of the acquisition, and expect to close the transaction within a week. WebCheck will be acquired in a stock and cash transaction. The stock issued will be placed in an escrow account, and delivered in stages as the business achieves a number of business milestones. This will see the issued share capital rise from 6.1 billion to nearly 8 billion shares. It is important to note that because this investment is in restricted stock, there will be no immediate impact on the current public float of Esprit stock, and will allow the Esprit to to preserve liquid assets to commit to expanding the sales and marketing efforts as well as operational capabilities of the AEFM ( Advanced Electronic Funds Management) and other divisions of the Company. The total commitment of restricted stock is based on anticipated development costs that will be incurred as the new subsidiary scales up operations on its way to becoming cash flow positive.

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