posted
Posted by: Allinxxl1968 In reply to: pennytrader who wrote msg# 13264 Date:2/28/2007 1:13:13 PM Post #of 13327
I just called the company. IR says news is out! Hope its not a delay transmission like last week. Says PR news will explain extra OS 5 billion and Winters pay etc.. They don't seem concerned about the rolle coaster ride he said jokingly "Did anyone entertyain the idea of a possible forward split"? "You know OS stock can be used for that as well". In other words for every 1 share you own you get 2. I asked if he is for real with this and he said I dont know whats in the management head but dilution certainly is not and maybe we will just buy another Forex house! I think they are staying the course and Im in LOOOOONG!!!!!
Posts: 801 | Registered: Nov 2005
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posted
LAS VEGAS, Feb. 28 /PRNewswire-FirstCall/ - Cash Now Corporation (CHNW.PK) www.cashnow.com (Cash Now). Cash Now is pleased to announce the launch of the Beta Test site for Forex trading, meeting its aggressive objective of launching the site by the end of February.
The service has been branded 'Forex Advanced Markets by Cash Now', and can be viewed by visiting http://www.cashnow.com/forex_index.html. Forex traders are invited to visit the website, and watch for further announcements regarding the official launch of the fully operational Forex site on the Cashnow.com domain.
Mr. Garr Winters, Cash Now CEO advises, "The Forex Trading service represents a major new product introduction for Cash Now. Accordingly, we have set up Forex Advanced Markets as a separate division, although back office services will be combined with our core business. As we have stated earlier, we will continue to seek opportunities to diversify our product portfolio in line with our core competencies. The Forex Trading service is the first major step in line with our Corporate Objectives."
Winters added, "We are indebted to Richard Sciacchatano's accomplishments in establishing this new service offering, and accordingly, have appointed him Forex Service Division Manager. He will have full operational responsibility for all aspects of the Forex division."
Mr. Richard Sciacchetano noted, "The team has worked very hard getting us to this point. Not only have we met our initial target launch date, but a lot of back-end programming has been accomplished behind the scenes. I would recommend that the Forex traders keep us on their radar screen, as we intend to beat our goal of launching the final and fully functional and fully operational Forex site early in the second quarter. At that point, we will focus on optimizing the Cash Now Forex site so it can be easily found on the search engines."
Cash Now Background
-------------------- "Man who excels at putting worm on hook is Master Baiter" Posts: 678 | From: Boise, Idaho | Registered: Nov 2005
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posted
Posted by: KA12 In reply to: None Date:2/28/2007 1:28:12 PM Post #of 13366
IR says that the wires are back-logged because of all the press releases going out from the DOW but it should be coming very shortly
Posts: 801 | Registered: Nov 2005
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posted
Wednesday, February 28 2007 1:34 PM, EST Cash Now Provides Update on Corporate Activity PR Newswire "US Press Releases " LAS VEGAS , Feb. 28 /PRNewswire-FirstCall/ - As previously reported on February 9th , Cash Now Corporation (CHNW.PK) www.cashnow.com (Cash Now) is in the process of changing its corporate name to Esprit Financial Group Inc. The corporate transfer agent has advised management that the name change and new CUSIP number should become effective on or about March 15th, 2007 . The State of Nevada can levy fees up to a maximum of $35,000.00 to recapitalize a corporation, plus additional fees for other amendments to the Corporation's charter. However, multiple changes can be accomplished at the same time for a single fee. In light of these changes, the Corporation has also applied for an increase to its Authorized share capital, to 11 billion from the current 5 billion shares. This does not directly increase the public float, or total number of shares currently outstanding. CEO Garr Winters notes; "It is financially prudent to make this additional change in the amount of authorized stock concurrent with the corporate name change. We have previously announced our intent to acquire additional financial service companies in line with our corporate objectives, and this will allow the Company to fund future acquisitions partly or entirely with stock. We are confident as we pursue these acquisitions, we will continue to add significant value to the Company on behalf of our shareholders, such as the impending launch of our Forex trading service. Winters added "I would also want to clarify that further to our announcement of February 27th , compensation of both Richard Sciacchetano and myself will be made in the form of restricted class 144 stock in lieu of salary. As noted at that time, the amount of stock issued will be commensurate with the achievement of business milestones and performance of the corporation. As such, senior management will be very focused on creating long-term value for our shareholders, particularly in light of the fact that our compensation will be directly affected by the long-term performance of the Company and its stock value". Finally, Winters noted that: "We are very excited about the impending launch of our Forex service, and we will continue to keep our shareholders apprised of other significant developments as we progress toward closing other new significant business opportunities". About Cash Now Cash Now Corporation , a pioneer in the payday loan industry, is developing the most comprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. The company's proven business model includes licensing to corporately operated locations across the U.S. and Canada , as well as several foreign markets. Additionally, Cash Now's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike. The Company is currently in the process of expanding its product portfolio by bringing a retail Forex trading platform to market, targeted to seasoned day traders. The Beta test site has now been launched, 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 customers to transfer cash value without having to issue cheques. Employers can use it to pay employees (of great benefit for hourly workers who may not have a bank account); in multi-level marketing organizations, as well as facilitating electronic fund transfers. Safe Harbor Statement Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Cash Now's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Cash Now's periodic reports filed with the regulatory authorities. SOURCE Cash Now Corporation
-------------------- Experience teaches you to recognize a mistake when you've made it again. - Unknown Posts: 2 | From: WY | Registered: Feb 2007
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posted
This does not directly increase the public float, or total number of shares currently outstanding.
Posts: 1086 | Registered: Oct 2005
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posted
holding onto 5 mil, thanks to the panic sellers. i heard there's going to be a short squeeze coming. Over 1 billion shares shorted . this isn't done for a while imho.
Posts: 567 | Registered: Jan 2006
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posted
I don't know what the future holds for this one, but I feel like there is some serious money to be made. Got in at .0003, bought 300,000 more shares when it dipped down to .0008 today, sold enough at .0015 to get my initial investment back and am going to let the remaining million ride. Don't be greedy with this one folks!
Posts: 109 | From: Charlotte, NC | Registered: Feb 2007
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posted
This will easily reach .10 by the end of spring. Do your own DD folks, and flip al you want on this, but I am in at Rock Bottom. .0006 with 1mil Shares. thanks to all the flippers today, they gave me a great average. Kudos to those long and short.
And remember the A/S are restricted.
Read the PR carefully. Especially the part at the end concerning us, the shareholders.
posted
I think the forex thing (site) will bomb! lots of other established firms out there! JMO! they WILL issue shares for aquisitions and services thus increasing the O/S and will very likely R/S in the months to come! I will continue to flip this as oppertunity may allow but I will NOT hold it. the chances of this going to .10 WITHOUT an R/S are slim to none! JMHO!!! do what you feel! and GLTY!!!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
KP the A/S IS NOT RESTRICTED. The only restricted shares are the ones that the ceo etal get. As far as getting to 10 cents. The only way I see that is a massive reverse split, or they spend another 35 grand to drop the AS and buy back about 3 billion shares and retire them, AND actually make money. And before anyone says that I am bashing, I am not. I still have all of my shares. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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quote:Originally posted by tmanfromtexas: KP the A/S IS NOT RESTRICTED. The only restricted shares are the ones that the ceo etal get. As far as getting to 10 cents. The only way I see that is a massive reverse split, or they spend another 35 grand to drop the AS and buy back about 3 billion shares and retire them, AND actually make money. And before anyone says that I am bashing, I am not. I still have all of my shares. TMAN...
I don't think you are bro, but what does this say to you. To me it says, these shares aren't going anywhere and are staying within the company.
"In light of these changes, the Corporation has also applied for an increase to its Authorized share capital, to 11 billion from the current 5 billion shares. This does not directly increase the public float, or total number of shares currently outstanding."
posted
Posted by: Allinxxl1968 In reply to: brackep who wrote msg# 13602 Date:2/28/2007 4:44:11 PM Post #of 13702
***** READ THIS IMPORTANT ***** No reverse split they say after the cusip change. So far they havent lied on anything so I cant see why they would now? Said another news on Forex in the AM. There seems to be 2 forces at work there. 1 is the Forex which is clearly run by Richard Scacantan and their core Payday license and lending business by Garr WInters.
Said they may do 2 PRs a day starting next week 1 on Winters activities one on Scacatans. I get the sense there will be 3rd force in play once they button up Global and Jack Chang focuses on the E Wallet and ATM. So far IR confirmed 2 but is hinting at 3. I did call Nevada and they confirm it is $35,000 to do filing. They did 11 filings. Thats like $385,000 compared to $35,000 they paid! Traders this company just saved YOU and ME $350,000 and we repay them by panicking and selling like mad? HATS OFF TO THE MANAGEMENT!!! Good work!
Now..... I also inquired about the 40% drop in value today and so forth. IR says "Dont sell at 40% discount in the market. we will buy all CHNW stock back at a 40% discount DIRECTLY!" "Sell it back to us please!"
I asked how IR said "We wont do electronic purchases, we did that and it gets us nowhere" the way Cash Now will buy is:
1) email the company that you want to sell at a 40% discount on the day cert is received or the day of your request and signed agreement. whichever offers the true 40% discount.
2)Call your stock in a certificate format from your broker.
3)Mail in your cert by certified mail att Garr Winters with a stock power and your bank wire info
4) they say they will wire the $$$ within 3 business days.Said they have backers that will fund the purchase 40% discount no questions asked.
I said OK I want to sell you my position and he said OK do what I told you and lets get it done. We are OK for a buy back up to about 1.5 billion over the next 18 months. Again reminded me that they have backers and wanted to get the ball rolling immediately! Not that I'm going to sell but he sounded sincere and wanted to get the ball rolling ASAP!
So if anyone wants to jump ship and cant unload their stock at the price they want heres a quick exit. Now I did some math here. We are at 001 today. That means they are prepared and ready to buy 75% of the current float! (1.5 over say 2 billion) That would LEAVE A FLOAT OF 500 million!!! the kicker is the company says that about 50% of that is in friendly hands meaning non bashers flippers scalpers etc...
Theres a reason why they authorized more stock and theres a reason (obviously they have backers) to buy back at a discount. They will make money both ways!
Im not making this up! Call the company or e mail them! They will make you jump hoops till they are certain you are a shareholder and then they will make the pitch to grab as much stock as they can at a deep discount!!
2 PRs a day traders! 2!!!!! Plus how transparent they are for a pink sheet company, plus plus plus!!
I have close to 150 million shares now and no private account so I cant respond to private messages, nor do I want to. Now I can see why they went with a huge float, these guys are going shopping!!For those of you that dont know what that means It means all the stock they issue will be restricted for almost 2 years for whatever they buy. Buy assets= revenue= higher PPS= soon they will hit that penny value the CEO wants to hit!
lastly at 001 and 11 billion float makes them an 11 million $$ company. There are services like networksolution that appraise domains. My sources say the 3 cashnow domains org net and com are close to $800,000. The trust vault www.trustvault.com can be built or reverse engeneered for about $500,000. The booking engine on cashnow.net is uncertain but sources say it is real time technology and theres nothing out there under 2 millon $$$ for real time technology. Traders so that means over 10 to 15% of this companys assets are on line and "tech".
I think I wore out my welcome mat with the IR. Hes asking if I or we can locate another publicly traded Forex company other then ICE thats like $140.00 a share. If we can find one he says watch where they are what their float is and what their p/s is. (I think he knows of one or two and is toying with us, and that they are either going to merge into that company or buy that company hence the new OS to do it with)
I wouldnt be surprised if the next 3 or 4 days they come out with this news and offer us all like a 50% bonus like 0.0015 or something like that) This is my assesment and my opinion only!
Im staying Long with CHNW!!!!
Posts: 567 | Registered: Jan 2006
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. this isn't done for a while imho.
