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Town Hall News.....

12.06.07Very excited about the mergerPosted in Uncategorized at 8:01 pm by Bigdogs

QUESTION:

Will Goodlife be buying back shares showing there faith in the new merger?

Also how long will the Shares be restricted for Goodlife?

Are there plans in place for all Goodlife employees to participate in the buying of the New stock once it becomes tradeable?

What do both companies together as one feel that the stock is worth currently?

RESPONSE:

The intent is to sell the assets of EFGO to the fully reporting Pink Sheet Company. If all of the plans proceed as expected, Good Life will become a distinct and different entity from EFGO. Esprit shareholders will receive stock from the new Good Life company, in addition to their current holdings in EFGO.

Post-acquisition, EFGO plans to sell off other remaining non-core assets. Plans call for the proceeds received in these subsequent transactions by EFGO to be utilized to buy back shares.

An employee stock option plan will be a management decision for Good Life. At this point in time, we are not aware of any plans. The focus has been on completing the paperwork as quickly as possible. Interest from Chinese investors in general could become significant, given the high profile nature of the Company in its operating territories, and continued rapid expansion.As for valuation of the Company as a combined entity, we would need a valuation analysis from an outside accounting form that specializes in this area of accounting. Remember, there is usually a difference between what a company is worth on paper, and it’s market capitalization based on share prices. Investors will look at a number of factors including growth, market position, industry indicators etc. It is therefore inappropriate to speculate at this time.

All restricted stock issued will be subject to the normal limitations and controls established by the SEC, which, as we understand it, has just been shortened to six months from 1 year, subject to some restrictions. These changes come under Rule 144 as amended November 14th of this year.


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How does this workPosted in Uncategorized at 7:35 pm by jsmith258

QUESTION:

I hold about 500000 shares - how does this work?

Do I get a 1 for 1 exchange when all the papers are signed?

Thanks

RESPONSE:

There will not be any share exchanges. You will continue to hold your stock in EFGO without any changes resulting from the acquisition of Esprit’s assets by the fully reporting Pink Sheet Company.In addition, there will be a distribution of shares in the new fully reporting Pink Sheet Company in proportion to your current holdings. As the share structure of the new Company will be different than Esprit’s, these shares will be issued as a percentage of your current holdings in Esprit.


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why is the current townhall not keeping up with posts?Posted in Uncategorized at 7:29 pm by PnyPlayr

QUESTION:

I wrote a post about a week ago, and to date, it has not been added to the townhall Q&A board. When it was EFGO, q&a’s were updated almost on a daily basis. I think this is a major link between the Company and it’s investors, and should remain open, and operational, at all times to keep that that vital updated information flowing between the two. If you do not believe this is important, then it is already and irritant between the Company and shareholders, and will only cost the Company credibility with us. I know the Company is going through a lot of changes and running into some obsticles as the merger moves forward. It is imparative that you keep us advised, so that we can know at all times where we stand as partial owners in both the old, and new Companies. You must remember, that if it were not for us, the investors, the Company could not survive in the Public Market. With this in mind, we deserve to know what changes are taking place, and to have our questions and inquiries to the Company addressed as soon as reasonably possible.

I also find this new format difficult to Maneuver, and believe it should be as simplified as it can be to aid us as we move around in it’s environment.

I am both Happy, and impressed with this Reverse Merger into Good Life China, and see a mutually beneficial advantage.

RESPONSE:

We are catching up on the Town Hall now. However, moving forward, we will not be able to respond to individual emails as we have in the past.

We intend to update Town Hall weekly as we move forward. We will not be able to answer all questions that may be generated relative to the reverse merger. There is some confidential information that cannot be released, and our legal team has asked us not to disclose information prematurely.The ability to post questions should be identical to Esprit’s Town Hall. If you are still having difficulties, please post the specific problems and we will get our webmaster working on solving any issues.


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IFGX Shells Vs. Reverse Merger With EspritPosted in Uncategorized at 7:12 pm by mel

QUESTION:

Why didn’t Esprit use one of the existing shells in the IFGX division to complete the reverse merger with Good Life?

RESPONSE:

This is an excellent question. Management considered this option at length, but felt that structuring the deal in this manner provided much greater value for Esprit shareholders. Esprit shareholders will participate directly in the growth of Good Life, and their existing share of EFGO will not change. In other words, in addition to your current share holdings, you will receive additional stock in the new Good Life fully reporting Pink Sheet Company.


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$5 million investmentPosted in Uncategorized at 7:11 pm by Trepid

QUESTION:

Where did the $5 million that was paid to Good Life come from? From where do you plan to get the additional $35 million for future investments in Good Life?

Thank you.

RESPONSE:

Esprit has negotiated a commitment for a $5 million USD investment (less fees) to support expansion plans for Good Life in China. These are new funds that have been committed to by third parties, after the Company begins trading under a new ticker symbol. As such, Good Life will receive funding once the paperwork is completed to effect the name change and obtain a new ticker symbol.

As Good Life continues to grow, it is anticipated that additional rounds of financing will be executed in line with business achievements and capital fundung requirements.


Permalink Comments

Reverse Merger or 10% Purchase?Posted in Uncategorized at 7:03 pm by Trepid

QUESTION:

The Press Releases from China indicate that Esprit is only acquiring an interest in Good Life. This does not sound lke a reverse merger at all. Why is there such a discrepency?

RESPONSE:

The Deal with Good Life (Haorizi) is in fact a reverse merger. Good life has tendered all of their shares in their private company in order to complete this deal. They will receive publicly traded, but restricted stock in exchange for these shares.The press releases in China were poorly translated, and coupled with their inexperience in the public market, it came out backwards.

In esssence, 100% of Good Life China shares will be traded under the new ticker symbol (once it is obtained) on the Pink Sheets, and Good Life is no longer a privately held company.