Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Micro Penny Stocks, Penny Stocks $0.10 & Under
»
EFGO [ Esprit Financial Group, Inc ]
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by dalton05: [QB] News for 'EFGO' - (Esprit Financial Group Inc. (Esprit) (EFGO.PK) Receives RFP for an Internet-Enabled Payroll Services for Local Government in Jiangxi Province) LAS VEGAS, NV, June 13, 2007 /PRNewswire-FirstCall via COMTEX/ -- EspritFinancialGroup Inc. (ESPRIT) (EFGO.PK), [URL=http://www.espritfinancialgroup.com,]www.espritfinancialgroup.com,[/URL] received a Request for Proposal (RFP) today for an online payroll system for governmentemployeesin Jiangxi Province. The Esprit senior management team had a very satisfactory meeting today withlocalgovernment officials, who wish to develop and deploy an online payroll system wherein government employees could be paid via Internet or at ATM stylekiosksthroughout the Province. With a population of roughly 65 million people living in Jiangxi Province, this is a very significant undertaking for bothEspritas well as the local government. With a proposed project budget estimated to run approximately USD $40 million,Espritwill be looking for additional strategic private sector partners to fund development costs and assist with the deployment.The Government officials have requested that the project go forward as a privately funded initiative, and that the private sector partners willsubsequentlyparticipate on a revenue sharing basis from all transaction fees generated by the system.Fees would be levied on each transaction using the system, representing a recurring monthly revenue stream anticipated to run into millions of dollars onanannualized basis. Esprit CEO Garr Winters explains: "This type of project represents a significantinitialinvestment from the private sector, with excellent long-term rewards. Upon deployment, there will be a Government guaranteed subscriber base,generatinga recurring stream of revenue and account activity on a monthly basis. Much like a toll-road, employees/government departments will paytransactionfees each time funds are deposited or withdrawn using the online payroll system."We will be able to put a pretty solid estimate together of payroll throughputbasedon existing data from the current payroll systems. Additionally, we know that this project will generate revenues on a long-term basis as the source ofrevenueis tied to ongoing payroll payments". Winters added: "This is an ambitious project a little bigger than our initialexpectationswhen we landed in China. We will be looking to bring the requisite private-sector funding from strategic partners and capital markets in the U.S.,orpossibly Europe. We envision putting a consortium together wherein Esprit will lead the project management process working with our other private sectorpartnersfor the actual development and deployment process. "Furthermore, the government requested an approach that could be scalable androlledout to other Provinces once successfully implemented. Estimating the long-term potential of a significant rollout is a little like asking 'how highisup'. The long-term potential is estimated to be in the millions. Obviously,weare quite excited and see this as wonderful news for our shareholders". About Esprit Financial Group Inc.Esprit Financial Group Inc. is a public company engaged in a diversified numberofonline financial services. These include: - PayDay Loans: A pioneer in the payday loan industry, the Company licenses comprehensive software solutions to industry participants, under the Cash Now banner at [URL=http://www.cashnow.org]www.cashnow.org[/URL] . - Forex: The Company's Forex Trading division offers an innovative low- cost Forex trading service at [URL=http://www.cashnow.com]www.cashnow.com[/URL] targeted to active day- traders. - Advanced Electronic Funds Management: This division offers a number of class leading financial services that facilitate a variety of Internet based international electronic funds transfer and cash management solutions. - Structured Debt Resolution: This division will offer streamlined, cost effective alternative services to facilitate the negotiation of debt settlement online. [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2