Esprit Financial Group has changed its corporate name to MonArc Corporation and it is anticipated that MonArc will receive a new CUSIP number and new ticker symbol as soon as this process can be completed by the governing bodies.
The company has announced that 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.
Garr Winters, outgoing CEO of Esprit Financial, said: It has been agreed that the two 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.