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The first step will see the Company issuing 1 share of Esprit for every 1,000 shares currently outstanding. Or does it mean to retire outstanding shares? The wording is a bit strange...
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So what would that mean to the shareholders if it were retireing shares? This would be a first for me if they did. I have been getting schooled really good with these pennies.
-------------------- I wish aliens would come down from space & make me thier pet I would like a bed with my name on it
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quote:Originally posted by gramlich: The first step will see the Company issuing 1 share of Esprit for every 1,000 shares currently outstanding. Or does it mean to retire outstanding shares? The wording is a bit strange...
The wording may be strange...but..it's a 1000 to 1 reverse split anyway you want to say it. Here's the kicker...no where does it state that the Authorized will be reverse split. LOL still 11 billion A/S? Sounds like it to me. And others are saying A/S went up to 14 billion but that is on Nevada SOS and states EFGO has changed it's name and raised A/S...
At this point.....does it really matter? LMAO
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quote:Originally posted by boneyardjeep: if this was going to be a R/S, then why would there be so any big purchases this morning?
It's a 1:1000 R/S. People are hoping this is gonna pull another CJCH or whatever that symbol was that R/S and ran up like 1000% after that.
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Their news are difficult to read between the lines. Sounds like R/S, but I am not sure.
I flipped some Monday/Today and am running on free shares right now. I will just leave them in there and see what happens. Got them at 0001 and as long as I can sell them for at least the same I only pay the commission - although I would prefer doubling or tripling at least
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It is a r-e-v-e-r-s-e s-p-l-i-t. I thought I would spell it out for those who think it isn't. If you have 10 million shares - you will now have 10 thousand, which will quickly go right back down to .0001. I was able to bail at .0002 today, which was double my money less brokerage. I cannot imagine who would buy. The volume is high because those who have been around for awhile know what is coming and they are selling. Good luck.
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okay Wording could mean that efgo is now a shell while the new company stock yet to be named holds the company itself then efgo no more... dd anyone plz
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Here's all the dd you need imo. Any other direction..... Good luck.
"In order to complete these aforementioned transactions, together with the previously announced pending transactions the Company is undergoing a recapitalization process. The first step will see the Company issuing 1 share of Esprit for every 1,000 shares currently outstanding. This will be done by having the Company's Transfer Agent cancel all share certificates currently outstanding, and reissuing new share certificates to provide assurance that the public float accurately reflects the true share position."
You wanna wonder about it for a few days.... think about it. What really matters? If the company goes in any direction - any - would you not be able to find it again? What's it all about? The bottom line. The fishing line used to thread this hook may have been pretty thin that the fish couldn't hardly see it - but if the bait fish are runin away - sumtin bad is comin.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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You're right Boo, the RS is the only thing to think about right now. Everything else is details. The funny thing is, the news had no effect on the stock. I expected EFGO to be no bid by now, but it's trading just like it did before.
As for me, I sold immediately and will watch from the sidelines for a possible post-RS reentry. I think the chances of getting in cheaper, should I so decide, are roughly 100%
-------------------- Me Trade Pretty One Day.
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Here is another tip for you YNGR ..... activity has picked up significantly lately and there is no bid. Really, no where to go but up. I think they are cooking something up caus ethe volume has really increased over the last few weeks.
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quote:Originally posted by Stock4u: Here is another tip for you YNGR ..... activity has picked up significantly lately and there is no bid. Really, no where to go but up. I think they are cooking something up caus ethe volume has really increased over the last few weeks.
Bingo! I think you are right on target!
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01.04.08Additional details on Reverse Merger with Good LifePosted in Announcements at 3:38 pm by admin
We have had a number of enquiries regarding the press release announcing the finalization of the reverse merger with Good Life. Additional details that will answer most of these questions are noted below.
There will be additional major transactions to be announced shortly. The Closing of the reverse merger with Good life is the first step of the plan. The initial recapitalization process was designed to achieve two objectives:
1. Prepare the Esprit Shell to acquire Canden Financial Group.2. Protect investors from artificial manipulation from naked short selling by significantly reducing the number of shares outstanding, and canceling all outstanding share certificates and re-issuing share certificates exclusively to legitimate shareholders.
Additionally, the Company has changed its name to Monarc Corporation, again, in anticipation of the acquisition of Canden Financial Group.
The second stage of the plan will see all of the assets of Good Life (including Esprit operations) vended in to another Pink Sheet company that is fully listed (versus trading on an unsolicited basis) shortly.
Current Esprit shareholders will receive a special stock dividend of shares in the destination shell, resulting in shareholdings in both companies.
The need for this second stage became evident in the last quarter of 2007. Despite important advances and announcements made by Esprit, the share price appeared to be manipulated to keep it trading well below its true value. After extensive consideration, management believed that this manipulation was facilitated by two key factors;
1. The stock was trading on an unsolicited basis only, and there was less transparency regarding bid/ask prices as a result.2. The number of shares outstanding was too large for the purposes of Good Life.
It was therefore decided to vend the assets of Good Life into a fully listed Pink Sheet shell. The Company is currently completing the filings necessary to complete this second stage of the reverse merger with Good Life. We had hoped to have this completed before the year end, but the holiday season took its toll.
The third stage of the plan is to complete the acquisition of Canden Financial Group into the Esprit Shell. The Company has effected a name change with the Nevada Secretary of State to Monarc Corporation. We are also awaiting updates to the Company officers to work through the system.
Ultimately, Good Life China will be a fully listed Pink Sheet company, and Esprit will acquire Canden Financial Group and move forward as Monarc Corporation. The share structure of each Company will be significantly improved for the benefit of their respective investors.
As originally noted, current shareholders will receive shares in both companies. We shall see
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Esprit Financial Group Inc. (Esprit) (EFGO.PK) Changes Name to MonArc Corporation TORONTO, Jan. 9 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (EFGO.PK) www.espritfinancialgroup.com DBA Good Life China www.goodlifechina.com announced today that its corporate name has been changed to MonArc Corporation. It is anticipated that MonArc will receive a new CUSIP number and new ticker symbol within the next several business days, or as soon as this process can be completed by the governing bodies.
The next major step forward will see the sale of current Esprit assets, including those of Good Life China, vended in to an inactive Pink Sheet Shell Company which will qualify for Pink Checkmark status (meeting all current disclosure requirements as defined by the Pink Sheets, LLC.) In addition, EFGO will issue a special stock dividend of shares, in this newly created Goodlife company to the current EFGO shareholders on record.
Outgoing Esprit CEO Garr Winters advised; 'It has been agreed that the 2 companies will issue a joint press release upon the closing of this transaction. We are making very good progress working through this series of related transactions. Obviously, there are a lot of filings and securities related work being done, given the ambitious nature of this undertaking. Our understanding is that all of the paperwork is in place, and the transactions can proceed forward with the Pink Sheets, transfer agents, State agencies, regulators and other requisite parties'.
Shortly thereafter, MonArc Corporation will complete the acquisition of the Canden Financial Group (www.candenfinancial.com)
About Esprit Financial Group Inc.
Esprit Financial Group Inc. is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and Specialized Investment Banking and Financial Advisory Services.
About Good Life Group Limited.
Good Life Group Limited operates a rapidly growing chain of franchised convenience stores based in Hebei Province, China. It employs advanced retail concepts such as e-commerce enabled POS/back office systems, and achieves significant economies of scale on the supply side of the business. It will be expanding geographically to neighboring Provinces, as well as offering a growing number of additional products and services, such as financial products, as it moves forward.
About Canden Financial Group
Canden Financial Group Inc. is a full service leasing company specializing in simple and fast equipment leasing and financing solutions for both vendors and end users.
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 Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
posted
Monarc Corporation (Monarc) Previously Esprit Financial Group (EFGO.PK - new ticker symbol pending) To Retain IFGX Division
Jan 10, 2008 05:00:00 (ET)
TORONTO, Jan 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- Monarc Corporation announced today that it has successfully negotiated the rights to retain ownership of Esprit's IFGX division, which specializes in Mergers and Acquisitions (M&A).
Incoming CEO Steen Elgaard advises; "This is an 11th hour development that is very exciting for us. In our discussions with Garr Winters, we became familiar with the IFGX division that he had set up under the EFGO umbrella. When we found out that the IFGX division owned two SB2 qualified shell companies Pristine 1, and Pristine 2, plus 2 eligible shells Harbour 1 and Harbour 2 our interest was piqued.
As it happens, we have been approached by several companies from Denmark seeking to go public in the U.S. While this is not our core business, we didn't want to pass up such an ideal opportunity. The final piece of the puzzle came together when Mr. Winters brokered an agreement with the Mina Mar Group to quarterback these reverse merger opportunities as needed".
Incoming CEO Steen Elgaard, originally from Denmark, has previously worked in the mergers and acquisitions sector, most particularly with K. Kapital Group Inc. His reputation and extensive network of contacts provided the impetus for these M&A opportunities.
Elgaard added; "Garr had put together an excellent asset in the IFGX division, with significant business opportunities. We are in his debt for putting this package together on our behalf in a manner that provides benefits to all parties involved.
Furthermore, we were very impressed with his concept of providing existing EFGO shareholders with a special stock dividend in the new Pink Sheet Company acquiring Esprit's assets. In my experience I see this as one of the most innovative ways to provide shareholders with added value for their long term loyalty. This very unique model the new management may adopt, and our plans are to offer Monarc shareholders special stock dividends in the IFGX owned shells as they are spun off in the future. My commitment is to endeavor to continue enhancing shareholder value any way we can."
About Monarc Corporation
Monarc Corporation (formerly Esprit Financial Group Inc). is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and Specialized Investment Banking and Financial Advisory Services. It recently acquired Good Life Group Limited in a reverse merger. It's assets are currently in the process of being vended in to a separate Pink Sheet Company that will meet Pink Sheet 'Pink Checkmark' disclosure requirements.
Canden Financial Group Inc. is a full service leasing company specializing in simple and fast equipment leasing and financing solutions for both vendors and end users. It is in the process of being vended in to Monarc Corporation on a reverse merger basis.
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 Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
posted
whatever they are doing with the r/s doesn't change the fact that they are set to make huge profits as good life is going to end up China's circle K. I'm hangin on. In fact I am buying
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Bingo! I think you are right on target! 
