Paychest Inc (PYCT)

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PayChest Retires 100 Million Shares

Oct 17, 2014 (ACCESSWIRE via COMTEX) -- HONG KONG / ACCESSWIRE / October 17, 2014 / Paychest, Inc. (PINKSHEETS: PYCT) PayChest Inc. is pleased to announce the buyback of 100 million shares and completion of its buyback and stock retirement program as previously announced.
This 100 million shares is the last part of 300 million shares repurchased by the Company. The outstanding share count, confirmed with the Company transfer agent, Transfer Online, is reduced to 27.685 billion shares giving the Company a present market cap of approximately $2.7 million.

Over $7 million has been spent to date developing the Mibella/Flushaway(R) brand of flushable and biodegradable women's sanitary liners and pads. The first container of product is slated to be ready for delivery in the first quarter 2015 as part of the $1.2 million purchase order provided by David Shaw and Co., the Company's UK distributor. Each container of product equates to about $50,000 US revenue to Paychest.

The Company is now opening talks with new distributors in the US and other countries in readiness of product availability.