With all due respect, you are 100% correct in saying that the Insurance Business is totally regulated, but you are 100% incorrect in thinking that competition is not allowed. Please don’t believe me, call the Department of Insurance at 1-800-252-3439 and ask to speak with Shawna. Be careful, because after you speak with her, you might change completely how you feel about EPTI for the better. I think you should also finish reading this post first though before you call. Here is the link to the Department of Insurance I spoke to below: http://www.tdi.state.tx.us/
Then call the Department of Insurance and let them explain it to you from an official point of view. Please understand that this is no ego thing with me as I am just an average shareholder believing in what EPTI is “trying” to do. I mean no ill will towards you as this is bigger than you and/or I. If you have any questions about anything I posted, please pick up the phone and call me at 210-387-7957 instead of this delayed response we give to one another from the message board.
The insurance premiums are justified based on underwriting & other data. Competition is allowed as it is up to each company to establish their rates for profit. It is actually self-regulated from this viewpoint.
The Department of Insurance role is to keep these public and private insurance companies from violating laws while they establish and maintain their insurance model. They provide these insurance companies with rate guides as a suggestion to use and see what the standard prices are for certain premiums within a certain market of insurance, but you are not bound to abide by them. The Department of Insurance told me that you can mark them up or down however you like for whatever profits you like. Competition is free game, but you must know that if you mark up the prices, you will probably not have a market of customers willing to pay for your premiums offered after comparing your premiums to other company’s premiums.
I have more to say, but I think there is something you first need to understand. As I have confirmed from the Department of Insurance, demand will generate how much you make; be it 25% profit margin or 75% profit margin. As for profits, I think there is something you are not seeing. An insurance company trading in the market versus not trading in the market presents a variable that you do not fully understand. Please don’t take this personal as I mean no harm by saying such, but here’s why I say such.
If two companies both make $2 Million in profits, then both would not be at a disadvantage versus the other for gain. However, if one company traded on the market as a stock while the other remain as a private company to not trade on the market, then both will very likely have a different profit margin than the other while having generated profits in the same amount. As a matter of fact, for how we are interpreting the term profit margin here in our discussions, the private company would not have a profit margin to exist. We are talking about profit in the context of referring to Income generation as I had explained in the post that you initially responded to for creating this topic of discussion.
For you to use “profits” as a variable as you have discussed, you seem to not understand that the ”profit margin” for a company is derived around the Outstanding Shares (OS) of a company. The lower the OS, the greater the profit margin will be. If a company is not even trading, then it will not have the benefits of having a ”profit margin” to have distinguished.
To take it one step further, even if both companies in the example above ”were” actually trading in the market and from both a certain amount of Income was generated that might reflect a 10% profit margin for one company, it could very well reflect Income generated to reflect a 75% profit margin for the other all because of having a lower OS while both having actually the same amount of Income generated. Or even is that same company reduced its OS as in the case of EPTI a while back, it will reflect an increase in their profit margin. Even if the profit margin changes, it does not mean that the profit will change.
Profit and profit margin should both be viewed as two separate variables and should be treated as such for our discussion here because they act and are derived differently. Profit is derived from “Revenues – Expenses” while Profit Margin is derived from the use of taking the derivation of Profit one step further by using the OS as the denominator to be the key fundamental variable to derive.
I told the Department of Insurance that this company has already submitted their package to the Department of Insurance to be approved. The lady I spoke with told me that for them to have done such, they are fully aware of the stringent requirements that must be met before being approved.
She told me how that for them to have already submitted their package for approval, they must have submitted a business plan indicating that the company already has a certain amount of assets. She said that the company must too already be profitable -- which is why it was important for the $6 million debt to be eliminated in my opinion.
Importantly mentioned also, she stated that the company must have huge solvency. She said that the company must have lots of money to pay people with. She said that the company cannot rely on premiums as the basis for paying people when they need money. She said that all of this must be reflected in their business plan to show access to future money and to show the existence of their net reserves. She said that a company is aware of all of these things before even submitting their business plan for approval to the Department of Insurance. Just by EPTI submitting their package to the Department of Insurance reflects now a huge subliminal hint that more is definitely going on behind the scenes for the better than what we are definitely not aware of. Now if their package is approved, I think we will know the true ”potential” of EPTI.
You referred to EPTI as being a ponzi scheme. I think you are very very wrong on that thought. As long as you have a product, business, or service that you are offering, you are considered legit. Also, your clients and reps must have the same opportunity for growth and advancement as the next person which is to be based on efforts and not simply automatic promotion alone.
Also, EPTI is on the OTCBB and is very transparent with the Securities and Exchange Commission (SEC). EPTI also has their Articles of Incorporation filed within the state of Nevada to further confirm legitimacy. We could probably go on for days proving you wrong on this, but please know that again, this is not an ego thing or “you against I” thing. Relax, if you don’t believe in EPTI, heck share your thoughts why without violating any TOU rules as you have done and consider moving on. I think there are many other stocks with much worse business plans than what you believe is here with EPTI that has a greater daily dollar amount being pumped into it than here with EPTI. I think you should considered putting more effort towards them where you would get more bang for the buck for the amount of money saved from people listening to you.
Before I forget, read below to better understand what exactly a ponzi scheme is to see that EPTI is not within that category: http://en.wikipedia.org/wiki/Ponzi_scheme
I think what you are referring to as a ponzi scheme is what I think you mean to be nothing more than MLM or Multi-level Marketing or Network Marketing as it is known to many. It is simply getting out into the public and getting what it is you have to offer in the eyes of the public to purchase as a benefit to them. Network Marketing is simply “word of mouth” for letting the world know of your product, business, or service that you have to offer. This is how many of the large companies started out before graduating to their next level of growth. How do you think AT&T has gotten so big as like many other major companies?
I hope these thoughts have helped us both to simply understand and respect each other’s viewpoints, but to most of all… move forward.
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