Flexpower Inc. (FLXP)

[brian]

i am quite interested in this statement on town hall, mincao did not transfer ownership eh? i thought they didnt have ownership of esprit to transfer...

hhhhmmm.....

see bold statement

The fact that Minaco is transferring ownership to Garr shows there is no deal where if EFGO pays the loan then they get there shares back as indicated before. Was the credit line ever even used??

Minaco is not transferring ownership of Esprit. The line of credit has not yet been drawn down on. There is no ‘palace coup’ in the works. In fact, this is a very public demonstration of Minaco’s good faith in Esprit. They are interested in participating in business opportunities with Esprit and have no desire to manage or run the Company. All parties want to ensure the Company has the financial resources needed to take full advantage of the current deals in the pipeline, many of which are not yet ready to be announced. The same covenants apply to the entire class of preferreds, and the parties are proceeding on a good faith basis to encourage Mr. Winters’ continued involvement in the Company beyond the year-end.