posted
I don`t see how this one can NOT make money!
HONG KONG -- (Marketwire) -- 07/31/09 --
PayChest Inc. (Arizona) (PINKSHEETS: PYCT).
Paychest announces that today it has commenced trial production and test of a new design of the revolutionary Flushaway sanitary products line.
This is a key milestone as the Company takes its first tangible manufacturing steps towards full production of Flushaway. The trial, carried out as a project under the Commercialisation Agreement and majority funded by Consolidated Ecoprogress, is for small scale production followed by a test to validate expected product performance improvements aimed at addressing high humidity performance and lengthening storage and shelf life. This trial and test builds on the successful laboratory and bench tests reported in February 2009.
Assuming successful completion of this trial production, a positive result from the subsequent test, and with modest film development work that has already been defined, the Company expects this generation of the Flushaway product to have superior performance and a sizeable reduction in production costs when compared to previous versions of the Flushaway product line.
Samples from the trial production, excess to test requirements, will be available for shareholders, investors, and new distributors that the Company has identified, or expects to recognize as a distributor of this innovative product.
Completing this milestone follows more than a years testing and redesigning of the product that was previously sold in Wal-Mart, K-Mart and other retailers around the world.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, markets and distributes select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources.
About the proposed dividend PayChest (Oregon)
PayChest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.
Safe Harbor Statement
The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements.
These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
This is old news, but nonetheless good to keep in mind:
VANCOUVER, BC -- (Marketwire) -- 10/01/08 --
PayChest Inc. (Arizona) (PINKSHEETS: PYCT) -- The Company has received numerous shareholder inquiries concerning a buyback of the company's shares.
As previously reported, the Company recently acquired certain rights to "Flushaway," a revolutionary product and technology that delivers a feminine hygiene product with a standard look, at a competitive retail price, that has the most comfort, most convenient disposal and the best environmental credentials of any product in its class. This product and the sales markets acquired have sales potential of many millions of dollars.
In addition, the Company also announced an upcoming dividend to shareholders.
Management believes that, taking these factors together, the share price is extremely undervalued. The Company has no current plans to buyback shares but may reconsider this in the future if Management determines it is appropriate. The company's shares outstanding are unchanged at 19.85 billion shares.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, market and distribute select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources.
About the dividend PayChest (Oregon)
PayChest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.
Safe Harbor Statement
The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements.
These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
PayChest Inc. 2008 Year-End Corporate Review
VANCOUVER, BC -- (Marketwire) -- 02/04/09 -- PayChest Inc. (Arizona) (PINKSHEETS: PYCT).
During 2008, PayChest Inc. underwent significant corporate changes. The Company had focused on new technology implementation and was previously focused on commercializing a micropayments money transfer technology. In April 2008, a private investment group based in Hong Kong acquired control of the company by way of acquiring all the preferred shares in the company in a private transaction. The transition to the new control group began as the previous negative issues surrounding the company were completely resolved. Those issues include a previous SEC investigation and a full DTC (Depository Trust Company) stock audit. The company is not involved with previous management or any of their affiliates in any way. The company is also not involved with companies previously spun out as dividends.
PayChest Inc. was chosen as the investment vehicle by the investment group for several reasons. First, the investment group inherits a large and very loyal shareholder base. The company has over 6500 shareholders and growing.
Approximately 5000 shareholders hold 1 million shares or less. Studies have shown it can cost anywhere from $300 to $500 and more using market awareness programs to acquire a shareholder. This costly shareholder infrastructure was already in place. Secondly, the shares of the company trade publicly and are at historic lows. This allows for substantial upside in the company's share price in the future. The shares presently trade in the US micro-cap market (Pink Sheets) that is traditionally known for large trading volumes. The liquidity in the micro-cap market makes it much easier to obtain financing from investor groups going forward. In addition, there are substantial tax losses that can be carried forward sheltering future income and thus creating a tax savings. Lastly, the company had essentially a clean balance sheet that consisted of a small liability under $60,000 for previous work completed for the company.
By way of the new control group, PayChest Inc. acquired the contracts to exclusively manufacture "Flushaway," the world's first commercially patented and patent pending brand of flushable women's hygiene products consisting of flushable pads and liners. The "Flushaway" brand of pads and liners are specifically designed to compete directly with Procter & Gamble, Johnson and Johnson and Kimberly-Clark, the three largest companies selling in this marketplace. None of these companies have a flushable alternative at this time. PayChest Inc. has also acquired the exclusive rights to sell the "Flushaway" products in areas not already under contract by Consolidated Ecoprogress Technology Inc. of Vancouver, Canada. Consolidated Ecoprogress Technology Inc. had spent approximately 10 years developing, researching, testing and marketing the "Flushaway" concept. Research has consistently shown that many consumers will switch to a flushable alternative if the price point is similar to their present brands.
"Flushaway" falls under the FMCG (fast moving consumer goods) category of products. Products such as "Flushaway" are essential to everyday modern life. Products such as "Flushaway" are not discretionary and are less affected by market downturns. Women will not stop using pads and liners even in times of a recession.
Previous versions of the "Flushaway" pads and liners have been sold in K-Mart, Wal-Mart, Walgreens, in the US; Boots, Sainsbury and Waitrose in the UK, and numerous other retailers worldwide. Sales were limited for several reasons. Due to large capital expenditures necessary to advance the core business model, advertising was generally limited to the local level.
A small feature was included in Cosmopolitan Magazine in South Africa. A couple of key issues needed addressing for the company's long term sales success. First, the "Flushaway" products had a much higher price point than competing non flushable products. Secondly, production costs were too high for the long term viability of the "Flushaway" product.
Production of the "Flushaway" product first originated in the UK.
Production subsequently shifted to Canada and lastly to China. In each successive move, product quality improved and production costs fell. Yet, production costs needed to fall further to create healthy margins necessary for the long term success of the product. In March 2007, Consolidated Ecoprogress made a decision to stop production and make the necessary changes before the supply chain for the product grew too large. During 2008, both PayChest and Consolidated Ecoprogress jointly addressed those key components.
The strategy for funding the "Flushaway" business model has been relatively unaffected by the recent world economic slowdown. The company has continued to be funded solely by private sources. The funds advanced to date have paid for such items as legal, accounting, corporate compliance, investor relations, research and product testing among others. It is anticipated that this type of funding will remain in place as alternate sources of financing are being finalized. Repayment of these advances would be by way of proceeds of future private placements, sales revenue, licensing of sub territories, the future issuance of shares, or senior long term debt financing. Some of the funding instruments include letters of credit, accounts receivable financing, purchase order financing and a currency hedge program as most costs and sales are in US dollars. These financial instruments have taken much longer than anticipated to complete and will be finalized shortly as the company heads toward initial production. Moving forward, private placements may be considered as the share price improves but not at the current price levels. During the 4th quarter of 2008, much of the groundwork was laid for these financial instruments as PayChest and Consolidated Ecoprogress have worked jointly towards this end. The $5,000,000 note payable to Consolidated Ecoprogress is classified as long term payable, to be paid over a 4 year period. It is anticipated that the repayment will be out of cash flow in the 4 year period and from the sales of sub-licences for territories. No payments have been made to date as payments will begin in the latter half of 2009 and will scale upward in 2010 and 2011.
During 2008, many shareholders have contacted the company since the "Flushaway" contracts were acquired. The Company addressed the shareholders' most pressing concern to inform them there were no plans to execute a reverse split in the foreseeable future, as per previous public news releases. As of February 4, 2009, the Company currently has in excess of 6500 shareholders with 19.85 billion shares outstanding and 25 billion shares authorized. It is possible that the company may issue shares in 2009 to further the business plan but not at these price levels. The company also has no intention in the foreseeable future of raising the authorized capital above the current level of 25 billion shares. The company has been contemplating a buyback at the current historic lows but no decision has been made at this time. Given the extremely competitive marketplace for women's hygiene products and our company's leading edge technology, the company may not issue as much news as expected by some shareholders. While it may be unacceptable to some, the company wishes to protect its competitive advantages and intellectual property and thereby protect shareholders' interest.
While the money transfer business remains under the same corporate umbrella the focus of the company moving forward will be the new "Flushaway" brand of products. Both business units will require capital moving forward to complete their business models. A strain on capital would be too great and dilutive for one company to bear. Separating these business units by way of a stock dividend aims to serve several purposes. First, shareholders of PayChest Inc. will receive shares in a new publicly traded company while continuing to hold onto their PayChest Inc. shares. That gives shareholders significant upside in two public entities. Each company will have separate management and a separate stock symbol. The new public entity can raise its own capital to further that business model without diluting or affecting the present PayChest Inc. shareholders. Those assets presently sit in a subsidiary, PayChest (Oregon). Due to changes in securities law, the company has had to change the way the dividend was to be spun out as a free trading dividend. The dividend process has taken far longer than anticipated and steps are being made to expedite the process. This remains a priority for the Company. The new control group is awaiting some final documentation necessary to complete the dividend process. As part of the dividend process, there will be a name change and symbol change. A new company name has already been secured and will be available when the dividend process is complete. This is being done to better reflect the new direction of the company.
As previously stated in a news release, the company has outlined a new president ready to step in upon the conclusion of the dividend process.
Enhancements will be made to the www.flushaway.com website in anticipation of production. The company will continue to employ the same legal, accounting, transfer agent services and other corporate infrastructure services to aid in a smooth transition of control. Lawson Pillay will step aside from "Flushaway" at that time.
Investors are encouraged to call toll-free or e-mail the company to be included on the company's e-mail list so that they receive copies of public news releases promptly. The company is expecting to provide a series of news releases in the coming weeks outlining new developments. News releases will continue to be made available by Marketwire and can be found on various sites including Yahoo! Finance and Google Finance.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, market and distribute select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources.
About the dividend PayChest (Oregon)
PayChest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.
Safe Harbor Statement
The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements.
These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.
Contact:
PayChest Inc.
Investor Relations
1-877-525-5170
ir*paychest.com
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
| IP: Logged |
posted
There is something breeding on this because the volume is picking up faster today ? I am glad I am in early.
Posts: 602 | From: Minneapolis | Registered: Jul 2009
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posted
The clinical trials may be coming to a close... or not...
Anyway, I am buying heavily here... and watching...
This stock could be a 10-20 bagger, bigger than SPNG, when this product hits the open market.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
I visited the web sites. NOT much there from what I see. I do not see a PR link. The Media and news links are from 2006. Why no current stuff? I do not see an Investor Relations link. These are NOT multimillion dollar company websites by any means. Has anyone in the US tried these products? Something fishy here. Might be a good stock to buy early and dump quickly. I do not see anything positive in the websites. JUST MY OPINION!
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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posted
The volume is above 22,000,000 so far this morning. I am not sure if the product is being tested in the U.S under a different name or brand...which is ofcourse possible. But the market for such product is very very large. I picked up some yestrday and will wait and see as always.
Posts: 602 | From: Minneapolis | Registered: Jul 2009
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posted
Hot-Pepper, no,its not being tested in the US market yet. Its being tested in China and Africa, so far.
And yes, the market potential is in the billions... I figure every woman in the world between 15 and 45 will be clamoring for these!
oldseven, you lost me on your questions...maybe someone else can help you out... sorry...
And hey, if you don`t like this one stock, there are about a gazillion more out there...
WOMEN understand these things...
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
Yea ! China and Africa are two big continents for great product test. Worldwide market is very big lucretive for this company, therefore the potential great for investors. Although with caution, I picked up a few more today.
Posts: 602 | From: Minneapolis | Registered: Jul 2009
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posted
They have been working on this for years, so they should be 3-12 months from worldwide marketing, I`m thinking.
I believe volume is going up because tons of investors are getting in on this, on the ground floor.
Best thing is, P&G, Kimberly-Clark, and the other company in the big 3, for this type of product, DO NOT have anything like this in the works!
I am going in for 10 million total, then I`m going to sit back and eat popcorn!!!!!!!!!!!!!!
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
I emailed Investment relations asking about timelines for the trials and samples of the product. Within a couple hours, I received this response.
Russ, the trial has already begun and that trial will produce samples. Timelines will be identified in a release expected this week. The trial is taking place in China. After successful completion of the trials, the samples will sent out to shareholders, distributors and wholesalers. The test requirements will be identified in the upcoming update. Exact testing requirements (specifics) will be not identified for competitive reasons.
Tom Hands PayChest IR
Sounds like shareholders are getting SAMPLES! Samples of the product or samples on the trial results?
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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posted
I swore I would neve buy another one of the .0001 with a over a billion shares outstanding again, but dang Ticker, this does sound sweet!! If I invest maybe they will send me a bunch of samples. I have two daughters.......lol
posted
oldseven, thanks for doing that! GREAT info there!
Dagny, I know what you mean, but hey, there is going to be a worldwide demand for this product once it gets marketed.
Ask any female between 15 and 45!
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
PayChest Inc. Flushaway Trial Production Progress Report
2009-08-06 14:54 ET - News Release
HONG KONG -- (MARKET WIRE) -- 08/06/09
PayChest Inc. (Arizona) (PINKSHEETS: PYCT).
PayChest announces that the trial production remains on schedule and is broadly operating as expected. The manufacturer is an expert in the field of feminine hygiene that already produces and sells product internationally.
The current plan anticipates trial production completing at the end of August and provides time for fault finding and correction of materials, production techniques and machine process.
After trial production completes, and building on test knowledge already held by Consolidated Ecoprogress, samples will be put through the following set of tests:
-- Test A is for human trials under high temperature & high humidity conditions. -- Test B will simulate an extended shelf life.
Assuming the successful outcome of both tests, that will execute simultaneously and last up to eight weeks, the new generation of Flushaway will be a validated product, allowing samples to be released, and that can proceed to the next stage preparing for full scale commercial production.
Samples from the trial production that pass the tests and are excess to test requirements will be available for shareholders, investors, and new distributors that the Company has identified, or expects to recognize as a distributor of this innovative product.
This is a new generation of product and these dates are a guide to completion as there are many variables in the trial production and testing phases.
Completing these milestones would follow more than a year's testing and redesigning of the product that was previously sold in Wal-Mart, K-Mart and other retailers around the world.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
They have been working on this for some imes now and this is great news. It is not just the do nothing company. They have a product to market that will bring money. I am glad I signed in. By next week, I will pick up more shares and wait until when it moves to cash in.
Posts: 602 | From: Minneapolis | Registered: Jul 2009
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posted
I am, too, Hot-Pepper. I am accumulating 1 - 5 million shares at a time, using profits from other stocks, with 40 - 50 million as my ultimate goal.
This is the stock I am going to retire on.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
| IP: Logged |
I am not sure this is an article, look at the fine print at the bottom - seems like its a paid advertisement by Flushaway. Any news lately(this month)? This was printed in 2005.
Did you get any free samples yet? Do they work?
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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posted
FACT: Irregardless of the date, it IS an article!
I am fully aware that it is from 2005. I posted it so anyone interested can get a real idea of the work this company has been putting into the R/D of this new product, and the new product line.
No, I did not get free samples. One has to ask for them, and I do not need any of that stuff; thank the good Lord for good surgeons!
But I am reading all I can on it, and I will keep us all here posted ASAP.
I truly believe this is a monster in the making.
I just have to wait until the test runs are completed, and then this stock will literally explode!
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
OK, I have just emailed IR * Paychest and asked for my free samples.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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During 2008, PayChest Inc. underwent significant corporate changes. The Company had focused on new technology implementation and was previously focused on commercializing a micropayments money transfer technology. In April 2008, a private investment group based in Hong Kong acquired control of the company by way of acquiring all the preferred shares in the company in a private transaction. The transition to the new control group began as the previous negative issues surrounding the company were completely resolved. Those issues include a previous SEC investigation and a full DTC (Depository Trust Company) stock audit. The company is not involved with previous management or any of their affiliates in any way. The company is also not involved with companies previously spun out as dividends.
PayChest Inc. was chosen as the investment vehicle by the investment group for several reasons. First, the investment group inherits a large and very loyal shareholder base. The company has over 6500 shareholders and growing. Approximately 5000 shareholders hold 1 million shares or less. Studies have shown it can cost anywhere from $300 to $500 and more using market awareness programs to acquire a shareholder. This costly shareholder infrastructure was already in place. Secondly, the shares of the company trade publicly and are at historic lows. This allows for substantial upside in the company's share price in the future. The shares presently trade in the US micro-cap market (Pink Sheets) that is traditionally known for large trading volumes. The liquidity in the micro-cap market makes it much easier to obtain financing from investor groups going forward. In addition, there are substantial tax losses that can be carried forward sheltering future income and thus creating a tax savings. Lastly, the company had essentially a clean balance sheet that consisted of a small liability under $60,000 for previous work completed for the company.
By way of the new control group, PayChest Inc. acquired the contracts to exclusively manufacture "Flushaway," the world's first commercially patented and patent pending brand of flushable women's hygiene products consisting of flushable pads and liners. The "Flushaway" brand of pads and liners are specifically designed to compete directly with Procter & Gamble, Johnson and Johnson and Kimberly-Clark, the three largest companies selling in this marketplace. None of these companies have a flushable alternative at this time. PayChest Inc. has also acquired the exclusive rights to sell the "Flushaway" products in areas not already under contract by Consolidated Ecoprogress Technology Inc. of Vancouver, Canada. Consolidated Ecoprogress Technology Inc. had spent approximately 10 years developing, researching, testing and marketing the "Flushaway" concept. Research has consistently shown that many consumers will switch to a flushable alternative if the price point is similar to their present brands.
"Flushaway" falls under the FMCG (fast moving consumer goods) category of products. Products such as "Flushaway" are essential to everyday modern life. Products such as "Flushaway" are not discretionary and are less affected by market downturns.
Women will not stop using pads and liners even in times of a recession.
Previous versions of the "Flushaway" pads and liners have been sold in K-Mart, Wal-Mart, Walgreens, in the US; Boots, Sainsbury and Waitrose in the UK, and numerous other retailers worldwide. Sales were limited for several reasons. Due to large capital expenditures necessary to advance the core business model, advertising was generally limited to the local level. A small feature was included in Cosmopolitan Magazine in South Africa. A couple of key issues needed addressing for the company's long term sales success. First, the "Flushaway" products had a much higher price point than competing non flushable products. Secondly, production costs were too high for the long term viability of the "Flushaway" product.
Production of the "Flushaway" product first originated in the UK. Production subsequently shifted to Canada and lastly to China. In each successive move, product quality improved and production costs fell. Yet, production costs needed to fall further to create healthy margins necessary for the long term success of the product. In March 2007, Consolidated Ecoprogress made a decision to stop production and make the necessary changes before the supply chain for the product grew too large. During 2008, both PayChest and Consolidated Ecoprogress jointly addressed those key components.
The strategy for funding the "Flushaway" business model has been relatively unaffected by the recent world economic slowdown. The company has continued to be funded solely by private sources. The funds advanced to date have paid for such items as legal, accounting, corporate compliance, investor relations, research and product testing among others. It is anticipated that this type of funding will remain in place as alternate sources of financing are being finalized. Repayment of these advances would be by way of proceeds of future private placements, sales revenue, licensing of sub territories, the future issuance of shares, or senior long term debt financing. Some of the funding instruments include letters of credit, accounts receivable financing, purchase order financing and a currency hedge program as most costs and sales are in US dollars. These financial instruments have taken much longer than anticipated to complete and will be finalized shortly as the company heads toward initial production. Moving forward, private placements may be considered as the share price improves but not at the current price levels. During the 4th quarter of 2008, much of the groundwork was laid for these financial instruments as PayChest and Consolidated Ecoprogress have worked jointly towards this end. The $5,000,000 note payable to Consolidated Ecoprogress is classified as long term payable, to be paid over a 4 year period. It is anticipated that the repayment will be out of cash flow in the 4 year period and from the sales of sub-licences for territories. No payments have been made to date as payments will begin in the latter half of 2009 and will scale upward in 2010 and 2011.
During 2008, many shareholders have contacted the company since the "Flushaway" contracts were acquired. The Company addressed the shareholders' most pressing concern to inform them there were no plans to execute a reverse split in the foreseeable future, as per previous public news releases. As of February 4, 2009, the Company currently has in excess of 6500 shareholders with 19.85 billion shares outstanding and 25 billion shares authorized. It is possible that the company may issue shares in 2009 to further the business plan but not at these price levels. The company also has no intention in the foreseeable future of raising the authorized capital above the current level of 25 billion shares. The company has been contemplating a buyback at the current historic lows but no decision has been made at this time. Given the extremely competitive marketplace for women's hygiene products and our company's leading edge technology, the company may not issue as much news as expected by some shareholders. While it may be unacceptable to some, the company wishes to protect its competitive advantages and intellectual property and thereby protect shareholders' interest.
While the money transfer business remains under the same corporate umbrella the focus of the company moving forward will be the new "Flushaway" brand of products. Both business units will require capital moving forward to complete their business models. A strain on capital would be too great and dilutive for one company to bear. Separating these business units by way of a stock dividend aims to serve several purposes. First, shareholders of PayChest Inc. will receive shares in a new publicly traded company while continuing to hold onto their PayChest Inc. shares. That gives shareholders significant upside in two public entities. Each company will have separate management and a separate stock symbol. The new public entity can raise its own capital to further that business model without diluting or affecting the present PayChest Inc. shareholders. Those assets presently sit in a subsidiary, PayChest (Oregon). Due to changes in securities law, the company has had to change the way the dividend was to be spun out as a free trading dividend. The dividend process has taken far longer than anticipated and steps are being made to expedite the process. This remains a priority for the Company. The new control group is awaiting some final documentation necessary to complete the dividend process. As part of the dividend process, there will be a name change and symbol change. A new company name has already been secured and will be available when the dividend process is complete. This is being done to better reflect the new direction of the company.
As previously stated in a news release, the company has outlined a new president ready to step in upon the conclusion of the dividend process. After completion, the only corporate website will be http://www.flushaway.com/. Enhancements will be made to the www.flushaway.com website in anticipation of production. The company will continue to employ the same legal, accounting, transfer agent services and other corporate infrastructure services to aid in a smooth transition of control. Lawson Pillay will step aside from "Flushaway" at that time.
Investors are encouraged to call toll-free or e-mail the company to be included on the company's e-mail list so that they receive copies of public news releases promptly. The company is expecting to provide a series of news releases in the coming weeks outlining new developments. News releases will continue to be made available by Marketwire and can be found on various sites including Yahoo! Finance and Google Finance.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, market and distribute select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources.
About the dividend PayChest (Oregon)
PayChest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.
Safe Harbor Statement
The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.
Contact: Contact: PayChest Inc. Investor Relations 1-877-525-5170 ir*paychest.com �
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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I hope we see a run like that soon. I`ll keep my nitro handy, just in case...
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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posted
I can't find a phone number other than the IR. I did lots of research on this company over the weekend and things just do not add up. Seems like they been testing and sampling and promising for years. There financials do not show they can even afford to do test marketing, let alone production and send samples to shareholders. The website has ZERO information. For a company about to be a multi-billion dollar organization, things just don't add up. I will keep researching. I also do not understand the whole two company thing PayChest Oregon and PayChest Arizona. Sounds like they are going to start a new public company to sell more shares? Does an investor invest in both? or what? Do these places have phone numbers? addresses? Anyone live in these areas to go see an actual person or place?
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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I emailed about the samples, and here is the response: "******, as soon as the samples are ready, I will make sure you receive some samples.
Tom Hands PayChest IR"
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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I also emailed re: information of how the trials were going, and this is the response I got:
******, I will add you to the company's e-mail list for future news releases.
Tom Hands PayChest IR
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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Hey Ticker, same stuff I was told. I emailed back asking what the timeline was for the samples(days/weeks/months/years) and NO response yet.
Any idea where this Tom Hands is? Maybe we have someone in the area that can actually talk face to face with him and see the office of PayChest. I have someone trying to track the IP address but was not successful yet.
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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Oh, jeez, I forgot to try to check that out (WAY too busy) - I`ll try to do it this afternoon.
Meantime, this stock is being bought up at a very good pace. 0.0001 won`t last much longer.
-------------------- Please buy responsibly. Do not take my word on any stock. Do your own research. Thanks & good luck! Posts: 439 | From: USA | Registered: Jul 2009
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