Flexpower Inc. (FLXP)

[herbalife13]

Reed, Good job I knew the 20 Chinese Banks Article

Was somewhere, very very good! The dots may be getting closer.

May 17, 2007 - 2:30 PM EDT Esprit Financial Group, Inc. (Pinksheets: EFGO.Pk) Announces Agreement in Principle with International Express Payment Corp. Serving Over 20 Chinese Banking Institutions
LAS VEGAS, NV, May 17 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that it has signed an Agreement in Principle with International Express Payment (Jiangxi) Corp. Esprit is to provide advanced electronic funds management services (EM2) to Jiangxi's current customer base and its network of over 20 Chinese-based banks.
The agreement covers current clients as well as any additional banks that may come on-stream to the current closed loop payment system. The partial list of member banks includes:
- Bank of China
- Bank of Beijing
- Agricultural Bank of China
- ICBC
- China Merchants Bank
- China Everbright Bank
- Industrial Bank Co., Ltd
- China Construction Bank


http://app.quotemedia.com/quotetools/popups/story.jsp
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Check this out, the first is from a China news source (credit to Marine-1). The second is from another China news. And the third and forth are from EFGO. Read carefully! SAME BANKS, if this is not us, who took our banks?

China Strikes at Bank Queues with Cross-Bank Deposits, Withdrawals
2007-11-21 02:48:47 Xinhua
Chinese customers can now make deposits and cash withdrawals at different banks, regardless of where they keep their accounts, thanks to a service launched by the central bank on Monday.
The new system for small payments is available at most banks, including state-owned commercial banks, joint-stock commercial banks and city commercial banks.
The service is now only available within the account holder's region of residence, but it will eventually operate nationwide. Both debit cards and account books will be covered by the service.
reviously, only medium-sized and small banks offered such services, and cross-bank deposits and withdrawals were only available from major banks for debit-card transactions via ATMs.
Most banks in Beijing, and those in some provinces including Shandong, Guangdong and Zhejiang, have been ready to offer such services, according to the central bank.
The full roll-out of the system will require further time, as some commercial banks are debugging their systems, according to one source.
The central bank said fees charged for such cross-bank services would be decided by the service providers.
Many commercial banks, including the big four state-owned banks, set the fees at a proportion of 1 percent of the amount involved. Some have fees ranging from 10 yuan to 100 yuan or even 200 yuan.
The new service could help cut long bank queues, which have been a recent focus of customer complaints.
However, many said that the new service, while more convenient, may not be very desirable because of the fees.
More than 90 percent of about 14,000 respondents to a survey conducted by China's major portal, Sina.com, said the fees charged by banks are too high. More than 70 percent urged abolition of such charges. (One U.S. dollar equals 7.4 yuan.)

http://english.cri.cn/2946/2007/11/21/[e-mail]



Central bank unveils trans-bank system


www.chinaview.cn 2007-11-20 08:59:41 Print

BEIJING, Nov. 20 -- The People's Bank of China launched a trans-bank system for small-amount payment on Monday. The first batch of 14 banks in Beijing will apply this system in succession, according to the Beijing Morning Post.

After signing contracts with account banks in advance, with a 12-digit payment bank code, clients can deposit, withdraw or transfer small sums of money amongst outlets of banks participating in this program.

Clients also need to pay certain fees for small-amount transactions. However, the charge varies among banks.

For instance, China Construction Bank (CCB) and Bank of China (BOC) will both charge the clients one percent of the transacted amount of money, but the minimum charge for a single transaction is 10 yuan in CCB and 1 yuan in BOC, and maximum is 200 yuan in CCB and 100 yuan in BOC.

CCB also sets a limit of five million yuan for a single deposit or withdraw, while BOC has no such a limit.

Some 14 branches of banks appear in the first branch in adopting the trans-bank payment system in Beijing, including the Industrial and Commercial Bank of China, Agricultural Bank of China, BOC, CCB, and Bank of Communications.

The Beijing branch of China Merchants Bank doesn't come up in the list.

(Source: China Daily)


http://news.xinhuanet.com/english/2007-11/20/content_7109187.htm





June 25, 2007 - 9:00 AM EDT
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Acquisition of Check 21 China, Inc.
LAS VEGAS, NV, June 25 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com as previously announced, Esprit's management team visited China in conjunction with International Express Payment. (IEXPay).
As a result of the due diligence process, Esprit had the opportunity to fully explore and understand the corporate structure of IEXPAY.
Esprit has decided not to move forward with the acquisition of IEXPay, and instead, acquire it's sister Company Check 21 China. The Due diligence process revealed that the busines pursuits of Check 21 China are more in-line with Esprit's current business focus and short-term strategic needs.
Esprit feels that Check 21 China represents an opportunity to deliver revenue in a significantly shorter time-frame, with a scalable business model that is directly variable as the Companies continue to expand the customer base of participating banks.


http://app.quotemedia.com/quotetools/popups/story.jsp


May 17, 2007 - 2:30 PM EDT Esprit Financial Group, Inc. (Pinksheets: EFGO.Pk) Announces Agreement in Principle with International Express Payment Corp. Serving Over 20 Chinese Banking Institutions
LAS VEGAS, NV, May 17 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that it has signed an Agreement in Principle with International Express Payment (Jiangxi) Corp. Esprit is to provide advanced electronic funds management services (EM2) to Jiangxi's current customer base and its network of over 20 Chinese-based banks.
The agreement covers current clients as well as any additional banks that may come on-stream to the current closed loop payment system. The partial list of member banks includes:
- Bank of China
- Bank of Beijing
- Agricultural Bank of China
- ICBC
- China Merchants Bank
- China Everbright Bank
- Industrial Bank Co., Ltd
- China Construction Bank


http://app.quotemedia.com/quotetools/popups/story.jsp