quote:Originally posted by playtime: 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.
Ahhhhh a spin off. I haven't been to that site in eons. Thanks playtime. Havta check that out.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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[/qb][/QUOTE]Ahhhhh a spin off. I haven't been to that site in eons. Thanks playtime. Havta check that out. [/QB][/QUOTE]
No problem, If your gonna buy a lotto ticket, might as well have as much info as you can.
I would like to add one note. I have never been involved with any pink that has worked out for the benefit of "me" (common shareholder) when they did a r/s, r/m, merger, spin-off.......whatever you want to call it. Maybe this will be the first? LOL...
Posts: 152 | From: fla | Registered: Feb 2006
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This is what happens when you hold a pink too long.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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LAS VEGAS, Dec 07, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. DBA Good Life China (EFGO.PK) www.goodlifechina.com announced that it will be launching a new brand within its PayDay Loan Division; www.MoneyLendingbusiness.com.
The PayDay Loan industry is undergoing major changes in line with a changing regulatory environment at the State level. MoneyLendingBusiness.com creates a new brand identity to underline that Esprit Financial Group is offering the most up to date licensed software to conduct business in this changing environment.
Esprit CEO Garr Winters noted, "There continues to be very strong demand for 'micro' sized loans at the consumer level. The number of U.S. citizens who are unbanked (do not have a bank account) continues to grow. There is strong need for this type of service, and we intend to continue to participate actively in this market".
Esprit will continue to concentrate on licensing its software, rather than operating on a franchise system approach. Licensees will be able to offer this micro-loan capability as a stand-alone service or as an addition to a pre-existing portfolio of financial services.
Both the Cash Now and MoneyLendingBusiness.com brands will be offered in the market place. Efficiencies generated from utilizing the same back-office software and operational systems means that the new brand has a low break-even point to reach before beginning contributing to the bottom line.
In other Company news, Esprit will be providing updates on the completion of the paper work associated with the reverse merger with Good Life China next week.
Mr. Winters noted, "We are making excellent progress towards having all of the paperwork, as well as the uplisting to a fully trading Pink Sheet Company, completed before the end of the year".
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.
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.
Copyright (C) 2007 PR Newswire. All rights reserved
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Memorandum of Understanding to Acquire Canden Financial Group Inc.
TORONTO, Dec. 10 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (EFGO.PK) http://www.espritfinancialgroup.com DBA Good Life China http://www.goodlifechina.com announced that it has signed a Memorandum of Understanding to acquire Canden Financial Group Inc. (http://candenfinancial.com) on an all stock basis. The Mina Mar Group Inc. http://www.minamargroup.com acted as financial advisors in the transaction.
Canden provides financing services related for the rental or lease of specialized beverage control solutions for the hotel and hospitality industries, on behalf of a Denmark manufacturer with which Canden is associated. This includes advanced beverage dispenser tracking systems that monitor, report and provide inventory control over beverage dispensing in a restaurant or bar environment.
Canden CEO Steen Elgaard advised; "We are very excited about the opportunity to access the public markets. With EFGO being a dually listed company we see strong possible growth in both the German and USA market. We have several multi-million dollar contracts on the cusp of coming to fruition. We expect to issue announcements over the next couple of quarters as we move forward with EFGO. We know that the current EFGO management and their advisors have been searching for high growth operating companies for some time now and we are delighted that they see as much potential in Canden as we do. Elgaard added; "We have been very impressed with Garr Winters and his practical, common sense approach to this acquisition."
Esprit CEO Winters noted; "We choose Canden for several reasons. One of the most important ones to me is that we were able to verify their growth and future opportunities. Secondly our CFO is also on retainer to Canden. This gave us a great level of comfort with their financials and growth projections. We feel that the Canden acquisition will provide excellent value to Esprit shareholders.
We anticipate our shareholders will be very pleased to retain EFGO shares as we move forward with Canden, in addition to the shares they will receive once Good Life is vended in to the fully reporting issuer.
I am very disappointed that the market has not yet recognized the significant increases in the Company's valuation in light of recent announcements. Good Life has achieved remarkable success to date, and we have every confidence that the chain will continue to grow at a dramatic rate.
With the Canden acquisition, we are adding another high growth company to the fold, with revenue opportunities well beyond our original capabilities when we were strictly a PayDay loan company.
This provides EFGO shareholders with ownership in two public companies that are achieving remarkable growth."
Winters added; "I'd also like to acknowledge the Mina Mar Group, who were instrumental in structuring the Canden transaction. They have shown exceptional professionalism, knowledge, patience and fairness through the process as they acted for both sides in this transaction."
The Canden acquisition is contingent upon the completion of the asset sale and uplisting of Esprit with China Good Life, which EFGO management expects to complete in the next several business days. EFGO will then move forward with the Canden business unit as the primary operating business.
Esprit management will also apply for a name change, a new CUSIP and a new ISIN number along with a new ticker symbol to reflect the change in the company's operations.
The Company will continue to issue information and updates regarding these and other transaction through a combination of its Town Hall as well as press releases as appropriate.
Mr. Winters cautioned; "It has come to our attention that there are several Investor Awareness type message boards that are harbouring our staunchest critics intent on distributing negative information and misinformation on a organized wide scale basis, including sending out unsolicited emails. These are individuals who clearly seem to have their own agenda and who seem to be relentless in their endeavours to an obsessive level, thwarting months of hard work and undermining the efforts of the Company to bring value to its shareholders. Frankly, we cannot understand their behaviour, or what purpose their endless tirades serve. I would like to take this opportunity to invite any of these critics to come forward and identify themselves to us and provide any proof they feel they have on any conspiracy theories or improper activity conducted by the Company. We are prepared to address these allegations head-on in public. In the meantime, I encourage our shareholders to visit our corporate Town Hall for regular corporate updates, and to speak to their licensed financial representative for any investment advice regarding the 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 Canden Financial Group Inc.
Canden Financial Group Inc. provides financing for the lease or rental of easy-to-use and affordable profit control systems that control and monitor wait staff performance in hotel and restaurant bar settings. The systems provide protection against retail shrink from practices such as over-pouring, give-a way's or theft, as well as monitoring inventory levels to ensure an adequate supply of beverages are available as needed. The Company website can be found at: http://candenfinancial.com
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.
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Mr. Winters cautioned; "It has come to our attention that there are several Investor Awareness type message boards that are harbouring our staunchest critics intent on distributing negative information and misinformation on a organized wide scale basis, including sending out unsolicited emails. These are individuals who clearly seem to have their own agenda and who seem to be relentless in their endeavours to an obsessive level, thwarting months of hard work and undermining the efforts of the Company to bring value to its shareholders. Frankly, we cannot understand their behaviour, or what purpose their endless tirades serve. I would like to take this opportunity to invite any of these critics to come forward and identify themselves to us and provide any proof they feel they have on any conspiracy theories or improper activity conducted by the Company. We are prepared to address these allegations head-on in public. In the meantime, I encourage our shareholders to visit our corporate Town Hall for regular corporate updates, and to speak to their licensed financial representative for any investment advice regarding the Company."
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Better than ignoring it. I hope this makes it move. From the sounds of it Good life has inventory control problems. This ought to be a good marriage I'm buying more if it doesn't run early.
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Mina Mar Group Inc. Announces Acquisition by Public Company Monday December 10, 6:32 pm ET
TORONTO, Dec. 10 /PRNewswire/ - Mina Mar Group Inc. (www.minamargroup.com) is pleased to announce that it has been acquired by a Nevada based public company trading on the Pink Sheets. The Company name has been changed to Mina Mar International Inc. (Mina Mar) to reflect the new business operations of the acquiring shell company. The Company has also received new CUSIP and ISIN numbers as detailed below.
Mina Mar anticipates receiving a new ticker symbol shortly.
In other Company news, Mina Mar plans to effect a 250:1 reverse stock split as part of the Company's recapitalization process once svnr receives its new ticker symbol.
About Mina Mar International Inc.
Mina Mar provides corporate financial consulting services focusing on reverse mergers of private companies with publicly traded shell companies in the micro-cap and small-cap environment. The Company specializes in assisting private Chinese company access capital markets in North America and Europe.
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 Mina Mar's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Mina Mar's periodic reports filed with the regulatory authorities.
[ December 11, 2007, 07:36: Message edited by: BooDog ]
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Hey gramlich, you see anything about the names from Mina Mar and EFGO? Guess it's time to start googlin
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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No idea yet myself. Browsed through the hub so got a few things to check out.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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My take on the whole thing is that good life does crazy numbers but has a hurtin bottom line the cfo is on retainer for canden as well so they brought the whole package. I don't think it was efgo looking for the deal. Thats why I grabbed it and am going to hold tight. It won't take long to turn the bottom line around on such a simple problem. I hope it goes on a pr but sooner or later it will go
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TORONTO, Dec. 10 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (EFGO.PK) http://www.espritfinancialgroup.com DBA Good Life China http://www.goodlifechina.com announced that it has signed a Memorandum of Understanding to acquire Canden Financial Group Inc. (http://candenfinancial.com) on an all stock basis. The Mina Mar Group Inc. http://www.minamargroup.com acted as financial advisors in the transaction. It sounds like "Good life really needs the efgo network. At first it sounded like just words but the picture will become more clear in the next few weeks but it sounds like Esprit is driving the deal.
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Please note that the Company will be entering a quiet period for the next several days while the final paperwork is being signed regarding the mergers and acquisition activity previously announced.Responses to Town Hall questions and investor relations activities will be suspended until the Company issues final press releases once all of the remaining contractual formalities are signed, delivered and executed.
As you can imagine, these are complex transactions, and this is simply an added precaution to ensure that these major news announcement are released to the market as accurately and transparently as possible.
We are also preparing a new communications and a corporate guidance policy that will be issued simultaneously.
Might be a good time to copy any notes you want from town hall to file.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Toronto Canada— TORONTO, Dec. 12- Esprit Financial Group Inc. (EFGO.PK) www.espritfinancialgroup.com DBA Good Life China www.goodlifechina.com is pleased to announce that it has completed the formulation of a Belize Special Purpose Company (SPC). The name of the SPC is Asia Pacific Enterprises Limited a Belize company, company # 67568. The sole purpose of the SPC is for the acquisition of Hebei Haorizi Company Ltd, a China based Company and the acquisition and the sale of assets as previously announced.
Under the Chinese law an SPC is required in order to comply with the Chinese regulations and acquisitions of any Chinese entity. The Mina Mar Group Inc. www.minamargroup.com acted as advisors to the company in this transaction and formulation.
Esprit CEO Winters noted "Everything is coming together and in a timeframe we originally estimated. The next step for us is to finish off the US paperwork in concert with the Belize SPC, and submit all of this to the reporting issuer. We have been working very close with them we do not foresee any delays in the closing of this transaction. We also expect to be in a position to close on the Canden transaction, very soon after the SPC and Hebei Haorizi is finalized. In anticipation of this we have asked Canden CEO Steen Elgaard and their team, to prepare a forward guidance outlook which we may issue prior to the closing of the Canden transaction. I believe our shareholders will be pleasantly surprised. I know this is worth repeating, soon after the closing of the asset sale and the SPC transaction, EFGO shareholders will retain all of their shares, and in addition they will receive additional stock with the reporting issuer.
Posts: 678 | From: Boise, Idaho | Registered: Nov 2005
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quote:Originally posted by bobcat88: Dec 12, 2007 Pink Sheets News Service
Esprit CEO Winters noted "Everything is coming together...... EFGO shareholders will retain all of their shares, and in addition they will receive additional stock with the reporting issuer.
THIS is what will be interesting...how much/many shares will we get for how many EFGO shares you hold? 1 for 10 1 for 100 1 for 1,000,000 1 for 10,000,000
That is the big question...
Either, it's not that great.....like maybe 1 new share for every 10 million EFGO you own or they can't disclose it yet......if it was some great deal, why no details.....yet.
Posts: 152 | From: fla | Registered: Feb 2006
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Been wonderin that myself. And the restricted period if there will be one. Up to 2 yrs??
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: Been wonderin that myself. And the restricted period if there will be one. Up to 2 yrs??
Well, that HAS been stated by management. EFGO will be recieving 10% of a stake in The Goodlife. The shares that EFGO will be getting are "free" trading common shares, the other 90% that The Goodlife will retain are restricted for 6 mos and up to 1 year.
BUT, whatever/how many shares of The Goodlife EFGO gets.......they must be split 11 billion times.....and given out.....
Posts: 152 | From: fla | Registered: Feb 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Forward Guidance For Canden Financial Group Inc. TORONTO, Dec. 18 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (EFGO.PK) www.espritfinancialgroup.com is pleased to announce forward guidance for Canden Financial Group Inc. (Canden). Canden is in a pre-acquisition stage to join the EFGO soon after EFGO vends out its current assets to a reporting issuer, as per previous news announcements. Canden provides financing services related to the rental or lease of specialized beverage control solutions for the hotel and hospitality industries, on behalf of a Denmark manufacturer with which Canden is associated. This includes advanced beverage dispenser tracking systems that monitor, report and provide inventory control over beverage dispensing in a restaurant or bar environment.
In announcing the update, Canden's President and CEO Steen Elgaard stated, 'We are currently a self-sustaining company, and debt free. We see ourselves off to a solid start in Fiscal 2008, under the EFGO banner with our current guaranteed revenue coming in much higher than anticipated. We anticipate a solid but stable growth that will end the fiscal year revenue of approximately $900,000.00 with a potential growth beyond $5 million in revenue for the fiscal year 2009, maintaining net profits in the range of approximately 27 to 28%. To date, two contracts are signed with distributors in Canada and USA. The distributors market and sell POS and calculation, profit and control systems directly to restaurants and bars across Canada and USA, and we have distribution channels in place to ship systems direct to clients. Restaurants have the benefit of getting equipment financed, and build the rental cost into their hard earned cash-flow part of their operation. With a unique and specialized rental model, Canden is positioned as a very attractive financing business with growth in the area of 30 - 50% per year. We are currently exploring various financing proposals and options that will enable this growth sustainability, and different ways that this rapid growth will reflect into our future share price, without dilution of our equity.'
The Canden acquisition is contingent upon the completion of the asset sale and up listing of Esprit with China Good Life, which EFGO management expects to complete shortly. EFGO will then move forward with the Canden business unit as the primary operating business.
In other company news, Esprit CEO Mr. Garr Winters added, 'I wish to take this opportunity to update our shareholders on the status on the asset sale and the up listing of Esprit with China Good Life. We are on schedule to finalize the transaction as planned and as announced previously, that being on or before December 31, 2007. The unprecedented news coverage received in China in Hebei Province, plus the radio and news print of the EFGO merger with Goodlife, has brought on exceptional interest from China, the Chinese community, and different entrepreneurs all across USA, Germany, Canada and the west. This in itself has presented the EFGO management a very unique opportunity. We have been contacted by several already trading, and reporting issuers offering, the up listing of Esprit assets with China Good Life into their entities. Some of these offers have indeed caught our attention, and we wish to take a time out or a day or so to examine all offers and all available options to us before making the final decision. We feel that to simply ignore these proposals would not be in the best interest of all concerned, and unfair to our shareholders. If the Christmas holidays were not upon us, it probably would not be necessary to make this announcement. The matter is compounded by the fact that our legal and corporate advisors will be operating on a holiday schedule from Dec. 21, 2007, to January 3rd, 2008. Again, our skeptics should not read into this as anything more than the message is, that being that we wish to examine all the available options, and to choose the best option that will benefit all concerned.'
Posts: 152 | From: fla | Registered: Feb 2006
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We have been contacted by several already trading, and reporting issuers offering, the up listing of Esprit assets with China Good Life into their entities. Probably the smase one gobbling up minamar
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News for 'EFGO' - (Esprit Financial Group Inc. (Esprit) (EFGO.PK) Releases Open Letter to the Shareholders from Good Life CEO)
BEIJING, China, Dec 19, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (EFGO.PK) www.espritfinancialgroup.com DBA Good Life China www.goodlifechina.com announced today that it had posted an open letter to shareholders from Good Life CEO Jia Dongmei on its Town Hall forum.
This letter provides a perspective on the stunning growth and success of the chain of Haorizi stores, and its plans for continued expansion, from founder Jia Dongmei.
The full text of the letter can be viewed at
Esprit CEO Garr Winters commented; "We are very pleased to share this letter from Good Life CEO Jia Dongmei. Investors will receive excellent insight into the continued growth of the Company, as well as a sense of the cultural differences between China and North America".
Posts: 152 | From: fla | Registered: Feb 2006
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Here's the actual letter: Letter from CEO Jia Dongmei to ShareholdersDear Sir or Madam,
Glad to notice you that Good Life and Esprit officially signed restructuring and listing agreement on Nov.28, 2007. We are now preparing necessary document to relevant authorities. The reverse merger is expected to complete before Jan 1, 2008. At that time, Good Life will obtain a new stock code and CUSIP code and list in US.
It is no doubt that the news is so encouraging! Our experience and team left good impression to Mr. Garr Winters, CEO of Esprit, and his team. Both of us are full of confidence that we can make more opportunities in China and develop our business.
Since its establishment in 1998, Good Life has developed with surprising speed. On the Christmas Day in 1998, the first store of Good Day named Unity in Cangzhou opened. It had area of 70 square meters, and accommodated 3300 varieties. With the high praise of customs, its sale achieved 15,000 RMB on the same day, creating the highest gross margin and average benefit of single shop of Hebei industry, which indicated the lucky start of Good Life.
Good Life developed rapidly in these 9 years. Its sale and stores increased with the speed of 95% every year: from 1 store to 1,600; from 5 shareholders to 100; annual sale increased from 30,000,000 RMB to 500,000,000; annual profit increased from 300,000 RMB to 17,000,000; from the first team of 5 people to the management team of 50…So far, we have experienced the joy of sharing success in the progress of growth, the tough revolution of business star up and innovation; the failure of the market management, the advancement of turning passive acceptance to active enterprising. Diligent management, continuous improvement and creation of experience and new mode form the brand culture and value of Good Life. We are so pleased that we made a young, professional and dedicated team with good ability of learning and creating.
During these 9 years, our team led our staff, owners of franchise stores, cooperative suppliers making lots of contributions and achievements in the progress of serving customers, attending social commonweal activities, upgrading the business management and developing franchised stores. We have won highly praise of customers, suppliers, and stores owners. With the support of the government, society and banks, we have established good reputation, obtaining extensive support and praise from public and medias.
We have won a lot of awards from government during the past 9 years:
Member of China Chain & Franchise Association, Enterprise of Franchise Registration
Member unit of Hebei Chain & Franchise Association
First franchise commercial enterprise passed the certification of ISO9000 Quality System
China Famous Commercial Enterprise
China Famous Commercial Service Enterprise
Credit level AA enterprise of Industrial and Commercial Bank of China (ICBC)
Excellent experimental enterprise of “Market Project of Thousands of Villages and Townships” of Ministry of Commerce of PRC
One of the industry leaders of Hebei circulation sector
Demonstration unit of Hebei enterprise informationalization application
The Consumer Creditable Unit of Hebei Province
Demonstration enterprise of Hebei E-Business
Hebei Famous Commercial Enterprise
Most Competitive Enterprise on the Market of Hebei Province
Hebei Famous Commercial Service Enterprise
From 2005 to 2007, Good Life launched the plan of retail franchise stores through E-net in Chinese country, which won encouragement of project of country informationalization, innovation fund, and stores exploitation of Market Project of Thousands of Villages and Townships from China government.
Due to the attention and exploitation it made to country market, Good Life achieved great successful these years. The company makes use of its own brand, marketing mode and management skill to extend chain sites from city to country, forming the development pattern of integration of urban and rural, and the interaction between urban and rural, exploring a path to develop rural market with the feature of Good Life.
According to the developing requirement of market and enterprise, making use of eternal site of supermarket in rural areas, brand influence of multi-year management of chain supermarket, credit advantage, and powerful logistics delivery system, Good Life established rural E-business integrated service platform in 2006 which combined “chain supermarket real net” and “E-business fictitious net”. Since it is the first platform of China rural E-business, the governments pay more attention to it. Therefore, Good Life won many awards as China Famous Commercial Enterprise, Demonstration unit of Hebei enterprise informationalization application, Demonstration enterprise of Hebei E-Business, and Most Competitive Enterprise on the Market of Hebei Province, etc.
Influence of Good Life in rural areas: Good Life is the first retail enterprise that entered in China rural market. Since 1998, it has 9 years’ experience in country and villages in the field of retailing. Good Life has profound understanding of rural market and consumption habit of peasants, and established stable foundation in rural market.
Every franchise store joined Good Life can upgrade its business management, especially in rural area: first, “Good Life” peasant shop makes good demonstration there, and many grocery shops run by couples want to join “Good Life”; second, franchise stores win excellent profit that the average sale is 1,200 RMB per day, and the profit reaches 1,000-3,000 monthly. The sale of all franchise stores joined Good Life increases by more than 50%. For example, one store in Liminju Village of Hejian is a private store before joining, with the daily sale is only hundreds RMB; after joining Good Life, the average sale achieves 3,000 RMB per day. Third, normal peasant shop of “Good Life” has a great variety of goods. It is welcomed by peasants because of the proper price, good reputation and service. Peasants say that “Good Life” bring them good life.
Management mode of Good Life brings profit increase: The management mode of profit of Good Life is consisted by three main businesses: logistics service, business management, and E-business operation service.
Logistics: At present, Good Life has three logistics and distribution centers, with the total area of the centers is 90,000 square meters, 20 trucks, average varieties sending out reach 7,000 per day, separately take charge of the goods supply for stores in Beijing, Shijiazhuang, and Cangzhou. The logistics center adopts commission distribution service, that is, supplier commission logistics center to store goods and distribute goods to stores, and terminal store makes order from the net, pays for goods directly to account of supplier. After supplier’s confirmation, the distribution center will send goods to terminal store. Peasants’ shops distribute goods once every 2 days, and stores in village and town distribute goods once per day. Service fee the company charges for suppliers is 3-5% of distribution expense per year. Compared with original logistics mode, the company reduces more than 3% distribution cost for suppliers. Moreover, through the logistics center of Good Life, suppliers can obtain stable sale market and income, which is also the reason why the logistics service win praise of suppliers. Recently Good Life intends to construct more complete logistics system. Regarding Beijing, Tianjin, and Hebei as the center area, the logistics center may achieve 19 in three years, and extend to the whole country. They will use more advanced system of automatic selection and distribution to improve supply efficiency further. Business management: With the advantage of store network entering and serving rural area, Good Life directly develops the purchase and sale of agricultural products and sideline products, and provides agricultural production property, fertilizer and other projects. This direct service reduces the supply chain and brings obvious profit. With in the vast market, Good Life vigorously develops business as brand making, exploration and business management, in order to bring alternant and different service to all member stores and peasants members, as diverse native product, special product, diverse goods, proper price for supply, all kinds of products. The service can not only win satisfaction and loyalty of customers, but also strengthen franchise stores’ ability of acquiring profit and competition, bringing more benefit to Good Life in the same time.
E-business operation service: E-business B2B trade platform of Good Life can support stable and high efficiency information system of E-business management and service for real store net, logistics and suppliers; provide excellent service for suppliers, franchise stores, and logistics members, and meanwhile win profit.
Expensive rural market: China has 950,000,000 rural populations that take 75% of the total population of the country, which provides good opportunity for the construction of supermarket chain. However, the truth that people living dispersedly in most areas influences the collection of business net and the exploration of supermarket chain. In a way, rural market, especially market which regards villages as supply target, is not developed. The particularity of rural population makes the “whole-big, part-small” feature in rural market. The bigger the income and purchase ability of customers are, the higher the turn over of supermarkets. Due to this rule, there are two aspects reflected on the peasants’ income: On one hand, peasants’ income continuously increases every year. The average net income increases from 500 RMB in 1985 to 3,587 RMB in 2006. On the other hand, the increase range of peasants’ income is low. From 1997 to 2003, the extent of average net income keeps below 5%, and the real extent reached 6.2% in 2005, and 7.4% in 2006. Compared with the real extent 9.6% in 2005 and 10.4% in 2006 of urban residents, the income extent of peasants is smaller.
In 2005, the Ministry of Commerce of PRC launched Supermarket Chain Construction Project of Thousands of Villages and Townships, intending to establish 250,000 standard commodity supermarkets in 70% towns and 25% natural villages of the whole country within 3 years. The old market will be changed into the new strategic area for franchise through the powerful support of government. Good Life will also keep developing in such a market.
Looking forward to the future:We plan to open 20,000 stores in Beijing, Tianjin and Hebei area with in 3-5 years, realize 30,000,000,000 RMB deal of commodity, agricultural production and property supply online per year, invest to establish 19 new logistics distribution centers, and finish daily business 100,000,000 RMB of E-business B2B with the market covering Beijing, Tianjin, Hebei, and Shandong. On the basis of such big business service operation network, we will realize our three main businesses step by step, establish system that combines real net and fictitious net of “Good Life franchise stores” + “Good Life E-business platform + new logistics distribution”, and collects services of E-business, franchise management and logistics distribution to rural area, and gradually extend to other service fields as science and technology information, finance, credit of small sum, insurance agricultural futures and so on.
The successful merger with Esprit establishes a fast financing channel for the management and development of the company and the development of rural logistics trade. Good Life is the representative of China northern rural area. Therefore, that you choose to invest in Good Life means you invest in China rural market. We believe that the special mode of E-business Good Life selects to serves rural market has vast developing space. In next 5 years, Good Life will still establish and strengthen the retail marketing and logistics system that face rural area. Regarding suppliers and retailers of rapid consumable as service targets, integrated service system of combination of B2B E-business trade platform, logistics, and retail terminals as operation mode, Good Life will provide more products and excellent service for customers in urban and rural areas, and create the biggest integrated service system that is consisted by retail net chain based on E-business B2B and logistics. The cooperation between Good Life and Esprit is a good start. Esprit can bring new management concept, business mode, advanced managing skill and international experience to Good Life on the management and service to rural area, accelerating the development of the company.
In the end, I want to express my gratitude to all shareholders for your trust ad support. Our target is continuously developing our business and searching for new opportunities to create new value for shareholders. We believe the future of Good Life will be much better.
Jia Dongmei CEO December 18, 2007
Posts: 152 | From: fla | Registered: Feb 2006
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Just a heads up (maybe). On IHUB they are saying that there will be major news today to blow this merger stuff wide open. Great for shareholders. Apparently the info can be found somewhere open to public knowledge, but I can't find it and the company has asked the folks on IHUB NOT to post it because the company wants to release it themselves......should be interesting.
Rumors: Major buybacks and/or share retirement in the billions, Moving directly to OTC and off Pinks.
Posts: 152 | From: fla | Registered: Feb 2006
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Rumors: Major buybacks and/or share retirement in the billions, Moving directly to OTC and off Pinks. [/QB][/QUOTE] News like that would be very nice for Christmas. Regardless merry Christmas to all in penny land!
Posts: 185 | Registered: Jun 2007
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Basically, the IHUB pump crew destroyed whatever remaining credibility they may have had with this stunt. By now, it doesn't even matter if they're right--and unfortunately, there is no reason to believe they are.
Management doesn't need to scam. The IHUB pump crew will scam for them.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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Can lay down on the field and stare up at the night sky and see if you can see the shooting stars. Sometimes there are many sometimes you can't see a dam thing.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- I wish aliens would come down from space & make me thier pet I would like a bed with my name on it Posts: 89 | Registered: Nov 2006
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Esprit Financial Group Inc. (Esprit) (EFGO.PK)
Finalizes Good Life China MergerLast update:
1/1/2008 10:08:00 AMBEIJING, China, Jan 01, 2008 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (EFGO.PK) , DBA Good Life China announced today that it has finalized and completed the acquisition of Hebei Haorizi Company Ltd. Esprit CEO Garr Winters advised, "We are very pleased to make this announcement. This transaction was a complex one given the fact that Good Life is based in China, and under Chinese law, a Special Purpose Corporation (SPC) is required to facilitate the merge. We must thank Good Life CEO Dongmei Jia and the rest of her management team for working with us in a very harmonious way." The Mina Mar Group was also singled out as being of great assistance in structuring the deal, and helping set up the Belize based SPC and other US filings in a very efficient manner. Their consulting assistance on the regulatory requirements was pivotal to the success of this merger.
The transaction has been structured in the following manner: - Asia Pacific Enterprises Limited, a special purpose company incorporated in Belize, has completed the purchase of 100% of Hebei Haorizi Company Ltd. Asia Pacific has appointed Good Life management to act as officers and directors of the corporation. - Esprit Financial Group has completed the acquisition of 100% of Asia Pacific Enterprises Limited.Winters added, "Good Life is now officially open for business as a public Company in North America. This is a very significant accomplishment, particularly in light of the complex legal process, and the tight time frame within which we have been able to complete all of the filings in 3 different jurisdictions. "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.
" 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. 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 Copyright (C) 2008 PR Newswire. All rights reserved
Posts: 360 | From: black hawk , colorado | Registered: Dec 2005
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