Flexpower Inc. (FLXP)

[PayDirt!]

Town hall update 2

09.10.07 Minaco-Tradex Relationship
Posted in Announcements at 12:41 am
by adol77dai51

We have had a lot of requests to explain the nature of our relationship with Minaco-Tradex. As we have previously advised, they are a private company, and are under no obligation to provide a public analysis of their business.

However, we have requested that they make an exception, and they have graciously provided some insight into their interests in Esprit. We have reprinted their email in its entirety.



from Investor Offices <[e-mail]> hide details 8:27 pm (14 minutes ago)
to [e-mail]
date Sep 9, 2007 8:27 PM
subject Interest in Esprit Financial Group
signed-by yahoo.co.uk


Dear Garr,Further to your request of last week, we are responding with an outline of our corporate relationship with Esprit. As you know, we prefer to conduct our business in private, but in light of the furor that seems to have erupted around this issue, we are making an exception in this case.You should know that I visited the Investors Hub discussion board, and was shocked at the negative speculation surrounding your activities. I tried to intervene with some third party assurances, and was quickly ejected by whoever manages this website. I guess they have no concept that we may be in a different time zone 6 hours ahead of you, and we don’t normally conduct business on a Saturday morning.

In any case, I hope that this official response may help calm the waters. Please feel free to post it on your Town Hall. As an aside, I think that the level of transparency you have committed to is more trouble than its worth.

To Whom it May Concern;Minaco-Tradex is a private Company that provides merchant banking services for emerging growth companies.

We have had an informal relationship with Cash Now / Esprit Financial Group since it was initially founded, and we are very familiar with the initial success of the Company in the PayDay Loan industry.

With the in-house Internet expertise of the Company, we have occasionally called on Esprit for assistance registering websites, and e-mail marketing initiatives.

When Cash Now suffered an extreme setback after the head office was rendered inoperable by the hurricanes during the summer of 2005, we provided interim financial assistance to allow the company to survive.

More recently, Esprit’s diversification into other financial services has attracted our attention. We have been in discussions with Esprit regarding growth opportunities in China. In addition, and of greater interest to our core business, are the opportunities within Esprit’s IFGX business portal, and the need for merchant banking services to assist a number of private companies identified by Esprit seeking to go public in North America or Europe.

On review of the capital requirements needed to move forward in China and the IFGX projects, it became obvious that there was a need for liquid capital to be made available to Esprit for bridge funding and short-term capital requirements to execute against Esprit’s corporate growth strategy.

In addition to providing a line of credit to Esprit, we also anticipate providing merchant banking services for Esprit’s in support of a number of deals Esprit has in development to assist private companies going public in North America and Europe.

This strategic alliance will bring together the necessary resources to successfully meet the needs of currently identified projects, and in anticipation of additional deals that are in the very early stages of development.

Regards,

Zoran