What do you all think about the press release they are issuing, ( i assume tomorrow? )
09.19.07Chinese Check 21 Live Testing to Begin
Posted in Announcements at 2:16 am by adol77dai51
Esprit will start testing Check 21 processing for the Chinese market using live data - actual U.S. denominated checks.The full text of the press release is included below:
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Check 21 Live Data Tests in China
LAS VEGAS, NV, September 19, 2007 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it will begin testing its Check 21 service for the Chinese market. The tests will use live data – processing actual U.S. dollar denominated checks for deposit in China.
Based on successful test results, the Company will immediately begin rolling out the service to China based clients. Robert Xu, a consultant to Esprit’s Advanced Electronic Funds Management (AEFM) division will be supervising the tests. He departs for China today and will be continuing work on various projects currently in the pipeline, in addition to the Check 21 tests.
Esprit CEO Garr Winters stated; “This is an announcement that may well have profound impact on Esprit moving forward. We have been working towards this business milestone for several months. It has taken a little longer to get here than we would have liked, but we are very bullish that the tests will prove the soundness of our strategic approach as well as the capabilities of our Check 21 processors”.
Winters added in closing; “As incredible as it may sound, Esprit may well become the first non-banking institution to offer Check 21 services within all of China. As an independent financial services provider, we believe that Esprit is well positioned to work with any number of clients and strategic partners, without delays that may arise in regards to relationships with corresponding U.S. banks”.
In the U.S., the number of checks being cleared via the Check 21 process has grown geometrically. On an annualized basis, it is estimated that Check 21 processed transactions account for roughly $13.6 trillion as of July, 2007. (Source: Transactions settled through the Federal Reserve, NCHA and SVPCO with no duplicate counting).
Esprit will be providing further updates on its Town Hall forum available at www.espritfinancialgroup.com as the project moves forward.
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; and Advanced Electronic Funds Management.
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.
SOURCE Esprit Financial Group Inc.
espritfinancialgroup@gmail.com
Investor Relations: 1-416-619-0397
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