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Author Topic: EFGO [ Esprit Financial Group, Inc ]
Homersbud
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I'm out. POS finally sold. Changed my order from 'Day' to 'GTC' and it sold within seconds.

Good luck gramlich!

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just speculating
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ty
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5times1
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well i threw a couple bucks at this and got in at 0002 so hopefully we can see some fireworks in the next few days.
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BooDog
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quote:
Originally posted by Homersbud:
I'm out. POS finally sold. Changed my order from 'Day' to 'GTC' and it sold within seconds.

Good luck gramlich!

far out! I was thinkin it was the all or none thingy keeping it from going.

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Homersbud
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Geez, this pos hit 0004! I could've sold at 0003!

Oh well. Congrats gramlich!

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Andreas
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Homer,

I have a sell order in since yesterday for approx. 1,200,000 at 0003 and it did not sell at all when 0004 was hit this morning.


Very strange.

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Homersbud
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Andreas, I had that same issue yesterday! I have Choicetrade, and I noticed once I changed my order from 'Day' to 'GTC' it sold within seconds. Might wanna get that a try.
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Andreas
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Homer,

I have Etrade and usually enter orders GTC - as I did with this one.


I am afraid to make changes now and then end up at the bottom of the asks. I will just hang on and wait.

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beechwood
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Of course, and as always, the big question with
any sub-penny R/M is if a R/S comes with it
along with the name change, cussip, etc.
If no R/S is intended they will usually say
as much in the PR (like SHCM).
Saw no mention of same in the PR on this.
(of course Mr. Dan promised no R/S with SMMW
and we all know where that went).
It's what they DON'T say that comes back to bite.
Just the same I'm in for a few bushels at .0003

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Homersbud
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You can almost count on a R/S here.
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just speculating
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I don't see it. Look at accumulation!!! jmo but run baby run!
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BooDog
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quote:
Originally posted by Homersbud:
You can almost count on a R/S here.

They said no RS sometime last year wasn't it? On a Tuesday?

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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kermit42
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IMO, a RS is inevitable--too many shares to get a respectable OS with a buyback. But it probably won't happen until the symbol change, which means we got a few weeks.

I hope to be long gone at a much higher PPS by then. If they follow through on what they claim, I may jump back in after the RS, but there is money to be made here and now first.

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just speculating
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quote:
Originally posted by kermit42:
IMO, a RS is inevitable--too many shares to get a respectable OS with a buyback. But it probably won't happen until the symbol change, which means we got a few weeks.

I hope to be long gone at a much higher PPS by then. If they follow through on what they claim, I may jump back in after the RS, but there is money to be made here and now first.

right on I think your on to something
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just speculating
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quote:
Originally posted by Homersbud:
Geez, this pos hit 0004! I could've sold at 0003!

Oh well. Congrats gramlich!

tyvm [Cool]
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just speculating
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http://stockcharts.com/h-sc/ui?s=efgo&p=D&b=5&g=0&id=p43694571493
gonna go today! [Eek!]

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J_U_ICE
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12.03.07Forward Guidance For Q1 Of 2008
http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=13018
Mr. Garr Winters, Esprit’s outgoing CEO, announced “I’d like to take the opportunity to share our vision moving forward, regarding the Company’s North American as well as China based operations.As you can imagine, the last 6 months have been extremely busy for us. We’ve just returned from China this past weekend, and this is our first opportunity to lay out some of the plans following the recently announced merger with Hebei Haorizi Company Ltd. (Haorizi, or Good Life).

The merger with Haorizi represents an incredible opportunity for rapid and sustained growth for our shareholders. CEO Dongmei Jia has done a remarkable job building a retail chain of 1,600 stores within Hebei Province in less than a decade. Working on a franchise retail business model, Haorizi has developed a very sophisticated web-enabled operational environment.

We’d like to put the Haorizi chain store success into context of the overall Chinese economy as well as political policies for economic development”.

Overview of Haorizi:

Nearly half of the Chinese labour force works in the agricultural sector. However, agriculture represents only 12.5% of the GDP (Gross Domestic Product). Outside of the major cities such as Beijing and Shanghai, retail shopping concepts that we take for granted are very new to China.

In 1998, Ms. Dongmei Jia and other investors launched Haorizi, in conjunction with the Hebei Province Supply and Market Association. Haorizi has thrived well beyond expectations, and has become an award winning example of the type of retail concept that the Government is working very hard to encourage.

In February 2005, The Ministry of Commerce of the People’s Republic of China (MOFCOM) launched the Universal Rural Retailing Network Project to gradually push ahead the establishment of chain store businesses across the country. Economic research studies have shown that the replacement of traditional family shops with chain stores brings significant economic benefits to local economies.

In terms of products and services, their is a similar political mandate to provide improved access to key infrastructure services such as mail; Internet access; banking services etc.

This alignment of Haorizi’s corporate objectives with key economic development policies provides tremendous positive momentum to continue rapid expansion of the chain into neighbouring Provinces as Haorizi looks for Geographic expansion outside of the Hebei Province.

Haorizi has established a business model that is designed to support very rapid expansion of their operations. Working on a franchise system, the Company is freed from the daily operational issues of running corporately owned stores. Haorizi provides franchisees with a complete turnkey retail system, and represents these franchisees as a buying group to generate significant economies of scale on the supply side of retail operations.

On the supply side, Haorizi is using advanced web-enabled purchasing systems to optimize logistics, and push efficiencies of modern IT capabilities down the line on both the supply side and retail side of the business. These modern practices reduce costs and improve operational efficiencies across the board.

In short, Haorizi’s success is based on retail best practices stemming from modern electronic management of retail operations. Its success is based on its Information Technologies and supply side buying operations. As the Company continues its expansion, it will build out more logistics centers to support expanded geographic operations.

Business Plans call for a total of 4,000 franchised stores (an increase of 250%) and a total of 8 logistics centers (up from 3) by the end of 2008. Within Hebei Province alone, the Company estimates market demand for another 6,600 stores.

It will also be expanding into new product and service areas that are in strong demand, and for which there is significant political desire to deploy more aggressively throughout China.

These corporate and political objectives are the reason that Haorizi saw an excellent fit with Esprit, and embraced the merger. Esprit has developed significant web-enabled business processes that can be adapted to Haorizi’s operations.

Additionally, Esprit has developed a number of products and services that will fit extremely well with Haorizi’s plans to expand its product and service capabilities through its vast network of retail stores. This includes the sophisticated online small loan (payday Loan) facility, ATM operations and Check 21 services among others

As we continue to move forward together, we will be making ongoing announcements regarding the technology transfers and utilization of different product and service areas, as well as the prioritization of their implementation.

Uplisting:

In order to execute the reverse merger with Haorizi, it was necessary to set up a Special Purpose Company (SPC), as previously announced, due to the Chinese regulatory environment. The regulations related to SPCs mandates that the Company can only begin trading as a Pink Sheet company, and preclude uplisting to an OTCBB or major exchange.

One of the final objectives for Esprit this year was to uplist to either a fully reporting Pink Sheet or OTCBB, based on results related to potential deals in China. With the merger with Haorizi management believes it is in the best interests of our shareholders to become a fully reporting Pink Sheet company.

To that extent, management has negotiated and signed a preliminary Letter of Intent with an existing fully reporting Pink Sheet Company to achieve this objective in as short and cost-effective manner as possible.

It is anticipated that this transaction will take the form of a ‘purchase of assets’ ideally for a combination of stock and cash. The intent is to complete this transaction before December 31st, in concert with the finalization of the paperwork for the merger with Haorizi. Current shareholders of EFGO and Haorizi would receive shares in the new Company “pari passu” in line with the previously disclosed parameters.

A new ticker symbol and name change to Good Life China will immediately follow the transaction.

It should be noted that the shares Haorizi receives will be restricted shares under Rule 144, and thus will not be part of the float in the open market.

If the merger and uplisting can be completed simultaneously, the transactions will be vastly simplified. Current EFGO shareholders will receive shares in the new Company on a pari-passu basis. Management will be providing ongoing updates on these developments as they become available.

One of the objectives of this approach is to minimize the number of days during which trading of EFGO is suspended due to ticker symbol and name changes.

Once the Company merges with the fully reporting entity, we will immediately apply for a name change to Good Life China and a new Ticker symbol.

It should be noted that Esprit considered using one of the IFGX division shell companies for this type of transaction. However, these shells are not currently trading, and have not been assigned ticker symbols. The time frame to complete the process to get them listed and trading is too long for this to be considered a viable option.

North American Operations:

At this time, the plan calls for the North American operations to continue on as a separate division. These operations will be monitored as profit centers, and on the assumption that they continue to operate profitably, the division will continue to roll out its expansion plans in line with previous announcements.

In the 1st quarter of 2008 EFGO plans to reposition the IFGX division to return it to a B2B sub prime lender and factoring business including invoice discounting. Although IFGX has provided us with great results in its short lifespan as a company broker, new legislation recently came into effect that limits the number of transactions that IFGX would be allowed to execute to a maximum of 2 per year, every other year.

Esprit will also be looking to sell off certain non performing assets such as our www.iefranchise.com portal the www.cashnext.com www.loanconsultant.com and various dormant domain names. Additionally, if the uplisting proceeds as desired, EFGO will becomes a shell company, and can also be sold to third parties.

It is the intention of EFGO management to use the proceeds from these asset dispositions to buy back shares of EFGO and retire them to treasury.

Company Valuation:

Although it is a little early in the game, some considerations regarding the Company valuation and market capitalization are in order.

With a current run rate of over $100 million USD, and the Company running well ahead of its original projections of $2.3 million USD, to which the net income from North America needs to be added, we feel confident that the market will view the stock as being significantly undervalued.

This is especially true if the Company comes anywhere near its projected growth rate to 4,000 store locations by the close of 2008.

We will be providing more guidance on the updated financial projections for the year as soon as possible.

Short or “Oversold” Positions:

There has been widespread speculation that there is a significant short position out on the stock. While it is impossible to prove on a definitive basis, it is our understanding that any short position, if it exists, will need to be covered before the stock begins trading under a new ticker symbol. The transfer agents will require a full accounting of all stocks held and certification of ownership prior to issuing stock under the new ticker symbol. Obviously, this will put substantial pressure on any holders who have profited by overselling the EFGO stock. If the short sellers do not cover their position, they will be facing a failure to deliver, and the very significant consequences that entails.

Forward Guidance from Haorizi:

We also wish to advise our shareholders that Goodlife China and Ms. Dongmai Jai will issue a forward guidance on the Goodlife China operation shortly and we will follow that up with a revenue guidance for both China and North American operations and an update on our up listing plans to become a fully reporting pink sheet company, together with updates on any new Corporate Governance and privacy policies.

Additional news and details will be posted as they become available at; www.goodlifechina.com (English investor relations site) and www.haorizi.com (Chinese corporate site).

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The difference between genius and stupidity is that genius has its limits

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BooDog
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Far out.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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Didn't say yes or no for the RS but "It is the intention of EFGO management to use the proceeds from these asset dispositions to buy back shares of EFGO and retire them to treasury." sure sounds good. Excercise caution and protect your capital as it gets closer to the change.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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tmanfromtexas
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pari-passu basis is the catch phrase of the day.
Pari passu is a Latin phrase that means "hand-in-hand" or "at the same time", and by extension also "fairly", "without partiality".

If they give share for share then it is pari-passu. If they give share for share and then do a reverse split it is still pari-passu. Be afraid, be very afraid when a CEO starts talking in latin. LOL. TMAN...

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In the end, trust only yourself when trading stocks.

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BooDog
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No doubt Tman.... gots ta stay 1 step ahead.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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jilly123
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news

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www.infopop.com

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Andreas
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Esprit Financial Group (EFGO) To Uplist to Fully Reporting Pink Sheet Status

Dec 3, 2007 09:00:00 (ET)


LAS VEGAS, NV, Dec 03, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group (Esprit) CEO Mr. Garr Winters announced the Company's intent to achieve fully reporting Pink Sheet company status.

Mr. Winters advised, "One of the final objectives for Esprit this year was to uplist to either a fully reporting Pink Sheet or OTCBB, based on results related to potential deals in China. With the recently announced merger with Haorizi, Esprit management believes it is in the best interests of our shareholders to become a fully reporting Pink Sheet company."

In order to execute the reverse merger with Haorizi, it was necessary to set up a Special Purpose Company (SPC), as previously announced, due to the Chinese regulatory environment. The regulations related to SPCs mandates that the Company can only begin trading as a Pink Sheet company, and preclude uplisting to an OTCBB or major exchange.

To that extent, management has negotiated and signed a preliminary Letter of Intent with an existing fully reporting Pink Sheet Company to achieve this objective in as short and cost-effective manner as possible.

It is anticipated that this transaction will take the form of a "purchase of assets" ideally for a combination of stock and cash. The intent is to complete this transaction before December 31st, in concert with the finalization of the paperwork for the merger with Haorizi.

A new ticker symbol and name change to Good Life China will immediately follow the transaction. One of the objectives of this approach is to minimize the number of days during which trading of EFGO is suspended due to ticker symbol and name changes.

Once the Company merges with the fully reporting entity, we will immediately apply for a name change to Good Life China and a new Ticker symbol.

If the merger and uplisting can be completed simultaneously, the transactions will be vastly simplified. Current EFGO shareholders will receive shares in the new Company on a "pari passu" basis. Management will be providing ongoing updates on these developments as they become available.

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 Hebei Haorizi Company Ltd.

Hebei Haorizi Company Ltd. 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 neighbouring Provinces, as well as offering a growing number of additional products and services, such as financial products, as it moves forward.

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.

SOURCE Esprit Financial Group

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BooDog
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The PR is making its rounds on all the wires.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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bobcat88
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and doing nothing in the pps
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BooDog
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nope. Like to see about 2b in volume then mayby sumtin will happen.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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oldguy
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I wonder why etrade will not publish any of EFGO PRs?
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Andreas
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OldGuy,

Etrade does publish their PRs - see my posting from this morning. That one is from Etrade, which is my trading platform.

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just speculating
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volume picking up.
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just speculating
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http://stockcharts.com/h-sc/ui?s=efgo&p=D&b=5&g=0&id=p43694571493 [Smile]
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just speculating
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300 share trade at .0001?
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playtime
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So, if anyone has been keeping up, the shareholders are going to get shares in Goodlife China on a percentage basis (like a divi) and get to keep their EFGO shares intact......for now anyway.
EFGO still has Forex.

news LAS VEGAS, Dec. 7 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. DBA Good Life China (EFGO.PK) www.goodlifechina.com provided guidance today on future plans for its Forex division.

Peter Presland, who heads the division, has been working to develop a comprehensive strategy moving forward. Mr. Presland notes; "We had been disappointed with the service levels provided by our current service provider. We have spent the last few months evaluating alternative service providers, as well as a variety of related added value programs and services.

We are now in the final processes of setting up an Introductory Broker relationship with a new service provider, and are beginning work on our new website to offer a seamless investor interface. We are also beginning to lock-in additional relationships to provide added value for traders using the trading platform. Some of these services will generate additional revenues via subscription fees, while we anticipate a couple that will be available at no additional charge to provide a differential competitive advantage versus other Forex Trading websites."

Esprit CEO Garr Winters added, "We haven't been able to give Peter the full support he needed, given the major commitment of management resources within China. Nonetheless, he has been working diligently to put together a first class Forex Trading capability. We plan to have everything in place by January, and get a full year of trading to contribute to the bottom line. There will be additional announcements forthcoming as we begin bringing specific services online."

The Forex division will continue to be held by Esprit Financial Group, and will not be transferred as part of the asset acquisition related to the Good Life China reverse merger when it uplists to a fully reporting Pink Sheet Company.

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.

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BooDog
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Good thing it's already at bottom eh? lmao. I'll take more shares of whatever but not sure that's the plan. [Roll Eyes]

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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just speculating
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[QUOTE]Originally posted by playtime:
[QB] So, if anyone has been keeping up, the shareholders are going to get shares in Goodlife China on a percentage basis (like a divi) and get to keep their EFGO shares intact......for now anyway.
Where is this from? I like it!

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playtime
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Go here: www.goodlifechina.com and go to "town hall" There is a whole lot more to read.......


QUESTION:

I hold about 500000 shares - how does this work?

Do I get a 1 for 1 exchange when all the papers are signed?

Thanks

RESPONSE:

There will not be any share exchanges. You will continue to hold your stock in EFGO without any changes resulting from the acquisition of Esprit’s assets by the fully reporting Pink Sheet Company.In addition, there will be a distribution of shares in the new fully reporting Pink Sheet Company in proportion to your current holdings. As the share structure of the new Company will be different than Esprit’s, these shares will be issued as a percentage of your current holdings in Esprit.

Posts: 152 | From: fla | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
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