LAS VEGAS, April 13 /PRNewswire-FirstCall/ -- Esprit Financial Group Inc. (ESPRIT) (formerly Cash Now Corporation - CHNW.PK) http://www.espritfinancialgroup.com/ advises that Esprit CEO Garr Winters and Jack Chang, head of the Company's Advanced Electronic Funds Management (AEFM) division will be meeting in Texas, beginning Monday, April 16th, 2007.
The two executives will have a busy schedule over the first half of the week, closing the Global-Vision purchase, as well as meeting with key banks who will be providing back-end services for some of the electronic funds management products. This includes 'Cash Now 21' check clearing services and stored value card products.
Mr. Winters noted that, "By mid-week, we expect to have put in place key banking resources to support some of our key international funds transfer products. Once that is accomplished, we will be in a position to close some of the outstanding deals for these services, and would expect to announce some Agreements in Principle and Letters of Intent for new business by the end of April. These are new business contracts that have not previously been announced or discussed, in keeping with our desire to be conservative in our projections and announcements".
Mr. Winters added, "We don't want to let our enthusiasm get the better of us, but I feel comfortable saying that the AEFM division will be ramping up activity within a 30-45 day time frame. We have literally had some potential clients pushing pretty hard to turn on the switch to become fully operational. With our new ticker symbol in place, the clock starts ticking as of now. Jack Chang has been very busy behind the scenes, and has positioned this new division in a very able manner. Leveraging our corporate resources, Jack is ready to hit the ground running, as soon as all the i's are dotted and t's crossed".
About Esprit Financial Group Inc.
Esprit Financial Group Inc, (formerly Cash Now Corporation) is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner http://www.cashnow.org/ . The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at http://www.cashnow.com/. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduced holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
Structured Debt Settlement: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default.
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.
