Information borrowed from another stock site:
Q: Does pyct have a product? A: No, it does not have a product as of today. They have been working hard on crossing their 'Ts' and dotting their 'i's but since it's inception pyct has never produced a single product for sale in all the years it has operated. Now since they announced Commercial Production over a month ago..there is still zero sign of any product anywhere...seems odd that they would do that unless they were just fishing for buyers of .0001 shares.
Q; Will pyct have a product? A; pyct will certainly have news of progress towards a product. It always has for years. It is hard to tell for certain if there is credible progress being made or not. Since there have been so many Press Releases about Testing, Negotiations and Pilots, expected products in previous years one can not truly tell if they are really going to get a product this time.
Q: What about the FDA registration, isn't that proof of a product? Or at least proof of credible activity? A; Actually while it is always a good thing to do - and can not hurt to do so, an FDA registration number does not convey FDA approval or endorsement of the facility or its products.(This is true for Food and likely Products). All the registration shows is that paperwork was emailed/postal mailed or faxed in and payment was made. In this case it does not mean that a product was or was not submitted for testing or review or even exists. So the FDA registration is basically just that a registration that cost about 2K to easily file.
Q: What about the new TA registration, isn't that proof of a product? Or at least proof of credible activity? A: No, a Transfer Agent does not give any more credibility to any company, let alone a shady company. All it shows is they have a new TA. TA's do not stand behind their clients comments and make explicit disclaimers as such. TA's do try to keep their clients aware of rules though -Under the OTCBB's eligibility rule, companies that want to have their securities quoted on the OTCBB must file current financial reports with the SEC or with their banking or insurance regulators.
Q: Why did pyct pay a tout $10K to try and promote pyct? A: Possibly because it just issued out over 3BILLION new shares and it needs to dump them off. Paid Touts are a very effective way to hype up the word about cheap stocks for sale...but by the time word is announced it is usually too late and everyone is selling. pyct has relied on Touts before to help them sell off shares... nothing new this time. In fact they are using old news again..nothing new with this release.
Q: Some people believe that pyct is just a scam. A: That is true...but there are others who think that it is just a legitimate way to dump shares.
Q: How can pyct be functioning for this long without any sales if it is a scam? A: Maybe it actually does have outside funding. One thing that can be verified is that it has over 25BILLION shares out and growing fast ..and a fair amount of Preferred shares too that could be offered up for cash. If it were truly purchasing equipment and paying salaries the financial statements would reflect this.
Q: Some posters make claims that salaries are being paid out, how can they pay salaries if there is no money coming in? A: The financial statements that the company approved of show no salaries, but they do show a lot of shares being issued for 'services'. Anyway there are really only a couple of folks that need feeding and those are the two IR monkeys.
Q: Some people think that pyct is running a Pump and Dump scam A: You're correct, but just because there is a lot of goofball claims and lots of fluff PRs and no credible activity does not mean that this has to be a scam. Give them a few more years and maybe there will finally be some type of progress.
Not sure I even remember looking into this "scam", chalk this writing into the hall of shame for pinks? Guess I've been slacking since I haven't been messing with these for quite some time now. Tired of not getting any responses from the SEC or the various states SOS/DOS. Certainly had my own issues over the last year or so at home so as things settle down maybe I can get back into hunting these scumbags.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7754 | From: Virginia | Registered: May 2006
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