Monday, December 03, 2007 7:54:30 AM
Wow incredible news
Management reiterates again how they feel the stock is significantly undervalued. They plan on using some proceeds from some of there sales of assets to buyback shares, they are going to be a full reporting pinky, no mention of a R/S at all (Sorry people who thought this was going to happen) and what I like is
The transfer agents will require a full accounting of all stocks held and certification of ownership prior to issuing stock under the new ticker symbol. Obviously, this will put substantial pressure on any holders who have profited by overselling the EFGO stock. If the short sellers do not cover their position, they will be facing a failure to deliver, and the very significant consequences that entails
With a current run rate of over $100 million USD, and the Company running well ahead of its original projections of $2.3 million USD, to which the net income from North America needs to be added, we feel confident that the market will view the stock as being significantly undervalued.
This is especially true if the Company comes anywhere near its projected growth rate to 4,000 store locations by the close of 2008
Esprit will also be looking to sell off certain non performing assets such as our www.iefranchise.com portal the www.cashnext.com www.loanconsultant.com and various dormant domain names. Additionally, if the uplisting proceeds as desired, EFGO will becomes a shell company, and can also be sold to third parties.
It is the intention of EFGO management to use the proceeds from these asset dispositions to buy back shares of EFGO and retire them to treasury.
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