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If I was you Shrimant, I would sell 600,000 at .001 just to be on the safe side. Pink sheet stocks are very unpredictable and plus you'll be protecting your capital.
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News for 'CHNW' - (Cash Now Key Executives To Be Compensated by Stock in Lieu of Regular Salary)
LAS VEGAS, NV, Feb 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- Cash NowCorporation(CHNW.PK) www.cashnow.com (Cash Now), announces that key executives CEO Garr Winters and Richard Sciacchetano, Cash Now's advisor and projectmanagerof the Forex product, have agreed to be compensated primarily in Company stock. Each executive will receive $1.00 in Cash, in lieu of regular salary,plusshares of common stock in the Company commensurate with performance and meeting certain pre-defined business milestones. This arrangement willsignificantlyreduce Cash Now's burn rate and allow the company to maximize its operating budget towards marketing and new business development via third partyserviceagreements.
CEO Winters noted that: "We are very bullish on the prospects of the Company,particularlywith respect to the new products being launched like our Forex trading service, the e-wallet prepaid financial service product, and ATMservices.With the ATM and e-Wallet for example, we will be working closely in concert with Mr.Jack Chang and other assets the company has recently acquired tobringthem all up to positive income level. The intent is to put ourselves in the same position as our shareholders. Our success will be intrinsically tied tothevalue we achieve on behalf of our shareholders. We are very excited about the future prospects."Richard Sciacchetano noted that, "The Forex business opportunity is very exciting to me personally. I believe our timing matches market demand for a better service for the active day trader. We are bringing a platform to marketthatdelivers exactly what the seasoned trader is looking for - a service that provides transparency and real-time interbank currency quotes, where pips arenotmanipulated with slippage and skuing. In turn, we expect our customers to trade more actively than the norm. They will be able to trade profitably withsmallercurrency fluctuations, and more quickly to take advantage of currency movements."It is anticipated that both executives may acquire significant stock positionsinthe Company based on their compensation levels.
About Cash NowCash Now Corporation, a pioneer in the payday loan industry, is developing themostcomprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. The company's proven business model includes licensing tocorporatelyoperated locations across the U.S. and Canada, as well as several foreign markets. Additionally, Cash Now's website is the most advancedpayday-lendingportal, offering key insight to clients and potential clients alike.The Company is currently in the process of expanding its product portfolio bybringinga retail Forex trading platform to market, targeted to seasoned day traders. The Beta test site is scheduled for launch in late February, with a full-service roll-out to follow once the platform has been successfully tested.Additionally, the Company's e-wallet product, named EM2 (Electronic Money Management) continues to be developed. This stored value card allows customerstotransfer cash value without having to issue cheques. Employers can use it topayemployees (of great benefit for hourly workers who may not have a bank account); in multi-level marketing organizations, as well as facilitatingelectronicfund transfers.
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The corporate name and CUSIP number change will happen once the legal work is complete. In regards to ongoing inquiries on the potential of a large short position in the company's shares, it was confirmed that the company has identified a short position, and as of a few weeks ago, that short position is estimated to be approximately 1 billion shares (we have not been able to verify this number.)
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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We first took a look at Cash Now Corp. (OTC: CHNW) in late January when it popped on to our radar after having a late day surge in volume. It was the latest sub penny stock to garner a lot of attention, attracting micro cap investors with volume and news. The company, engaging in the manufacturing and distribution of customized payday loan and check cashing software, announced that it had replaced its CEO and reported the resignation of one of its board of directors. Besides re-hauling its management team, the company re-tooled its business model by announcing entry into the Forex market.
As the company ramped up its PR machine, the stock moved up another tick out of the cellar, but disappointingly had to trade nearly 1.1 billion shares to do so. The stock went on to trade for a couple of weeks with minimal move in share price... that is until recently.
The market's appetite for Cash Now shares has increased as the company has quickly unveiled plans to move into the Forex market. The company has signed an introductory broker agreement with Advanced Markets Inc. and is in the late developmental stage of offering an innovative Retail Forex trading platform. Cash Now also announced it has retained an agent to assist in locating a full service broker dealer agency for acquisition to be able to offer a full service range of Forex products and services to its clients.
This appeared to be an interesting story unfolding, and so we went straight to the source to find out more. Here is what a corporate spokesperson told Ant & Sons;
The corporate name and CUSIP number change will happen once the legal work is complete. In regards to ongoing inquiries on the potential of a large short position in the company's shares, it was confirmed that the company has identified a short position, and as of a few weeks ago, that short position is estimated to be approximately 1 billion shares (we have not been able to verify this number.)
Over the next few days, the news flow should continue to be rather steady, updating shareholders on previous corporate developments. One fact to hold on to is that the share structure numbers that were last posted on the Pink Sheets website, remain the same, indicating that there has not been any dilution in the past few days (coincidentally that is when the share price has started to rise substantially). Brace yourself, nonetheless, because the numbers are quite substantial. The authorized share count stands at 5 billion shares, with 4.3 billion shares outstanding and a publicly traded float of 3 billion shares. However, we are not sure how long those counts will stay the same as the company reported this morning that it plans to compensate its executives not with a cash salary, but with shares of common stock.
As with all stocks with a similar share structure trading at these levels, it is difficult to not sidestep the fact that Cash Now is a risky and speculative sub penny stock play. So be careful. In the short term, this will likely see some upside (possibly similar to the run in shares of iFinix Corp.) and no doubt become a trader favorite because of the high volume that has made it a more liquid security. The tremendous amount of buzz surrounding Cash Now and future press releases will also help. Yet in the long run, it is all up to Cash Now to be able to execute on its plan and most importantly, start showing some earnings to create shareholder value.
The author does not have a vested interest in shares of Cash Now Corp. (OTC: CHNW)
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If these guys are willing to pay there salaries with stock instead of a regular salary they must know this company has a lot of upside.They would not do this to take a loss.i am all in
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That's why some people Love these pinkies 99 out of 100 do nothing but its that one stock like this if you got in low it makes up for the rest.
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Thanks Bobcat! Appears to be a non compensated story. Told both sides good and bad. Nothing really new but still nice for some independent verification. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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Did it say how much stock they're getting? I skimmed the article and didn't see it. Just a heads up that IF (and like I said, I don't know) they are getting stock "worth" ten times their old salary, they are NOT going to take a loss, and it also dilutes your shares, I would assume.
Good luck to you guys though, I hope it keeps going up for you!
quote:Originally posted by dalton05: If these guys are willing to pay there salaries with stock instead of a regular salary they must know this company has a lot of upside.They would not do this to take a loss.i am all in
quote:Originally posted by PCola77: Did it say how much stock they're getting? I skimmed the article and didn't see it. Just a heads up that IF (and like I said, I don't know) they are getting stock "worth" ten times their old salary, they are NOT going to take a loss, and it also dilutes your shares, I would assume.
Good luck to you guys though, I hope it keeps going up for you!
quote:Originally posted by dalton05: If these guys are willing to pay there salaries with stock instead of a regular salary they must know this company has a lot of upside.They would not do this to take a loss.i am all in
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PCOLA makes a good point that hasnt been brought out. IF its overcompensation they make out like bandits and we pay the price. If it fair and equitable then we all make out. Always remember its a pinky. BTW, I havent sold a share. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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Can you exaplin? I'm not sure what you're saying.
Regardless, the ask is up to .0019, so you guys are making out like bandits!
quote:Originally posted by a surfer: I disagree Pcola.... Think first!
quote:Originally posted by PCola77: Did it say how much stock they're getting? I skimmed the article and didn't see it. Just a heads up that IF (and like I said, I don't know) they are getting stock "worth" ten times their old salary, they are NOT going to take a loss, and it also dilutes your shares, I would assume.
Good luck to you guys though, I hope it keeps going up for you!
quote:Originally posted by dalton05: If these guys are willing to pay there salaries with stock instead of a regular salary they must know this company has a lot of upside.They would not do this to take a loss.i am all in
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