MyECheck, Inc. (fka MYEC)

[MODiFiEDZ]

Ed Starrs Q&A Compilation:
Greetings MYEC Shareholder's! This is Ed Starrs, I would like to answer any questions you have. Please post your questions as replies to this post and I will address all that I can over
this weekend, thanks!

1.What is William Mills role to Myecheck. I haven't seen them say anything regarding MYEC in a few months
Their role is industry awareness
2.Can you expand more on the Seergate acquisition, Will the current partners with Seergate still be active after we acquire them such as IBT Integrated Bank Technology. Does Seergate & its partners now enable MyECheck to process RDC Remote Deposit Capture & is it in the plans to start doing RDC again?
Is the Seergate acquisition necessarily for our web checkout clients to go live or is it reliant upon bank integration & when will bank integration be complete?
Thanks
We are just now starting integration of the MyECheck and Seergate platforms, Seergate become MyECheck
The combined platform is the most advanced, capable payment system ever created
3.What is a realistic timeline for app launch. The 6 weeks seems to only pertain to the acquisition of seergate. How long after that will actually launch be?
it will likely take 2 to 4 weeks longer that the 6 weeks to launch to apps, due to direct bank integrations we are performing
4.I remember at the AGM we were expecting to uplist to the OTCQB within 90 days. When is that expected to happen?
Within 2 to 3 weeks
5.Sionic and Myecheck have stated January many times. I understand things happen, Apple has delays. Everyone has delays. However, can you fill us in on why Sionic/Myecheck January launch is not happening?
The main problem has been working with banking partners, we believe those issues have been resolved
6.Does this signing delay all our other deals? Can you explain how Myecheck will work in the E-Commerce sector? Not just in mobile apps. We are functional and operating now in the E-Commerce sector correct?
It doesn't delay anything, it actually helps ensure we will be able to launch our apps. We are in e-commerce,, our mobile apps will get us into other markets also
7.@edstarrs we are grossly undervalued .. what range does management feel Myecheck should be ?
Higher
8.@edstarrs have we lost any partners along the way with app delays?
No
9.@edstarrs we have seen tweets to netflix .. have we made progress with netflix?
Yes
10.@edstarrs have we partnered with any major banks or credit unions necessary for our app launch ?
Yes
11.@edstarrs what is the current sharestructure ? O/s a/s float?
I may have an update on this Monday
12.How are things looking with recovering fraudulent shares?
We just received a positive update today, I can't report it here but expect a PR update very soon on that lawsuit and the disposition of the fraudulently issued stock.
13.Mr. Starr's, can you please confirm there will be no reverse split?
No reverse split
14.Does Seergate have any debt that will be brought to Myecheck's balance sheets and to clarify the 5 years of support means their team will lend a hand if ask by the company for that time?
Seergate has no debt
15.Hi Ed, where can I get or buy the MyEcheck coffee mugs?
You can get them free at this years AGM
16.Ed I am in the gasoline business. I accept 4 million per location in credit cards all processed through Citgo. Have you contacted them. Also has this taken to long and or other companies gotten ahead of you?
We are on the forefront of this technology and have already secured relationships
17.When will exclusivity be granted back to Myec? Why would you not if you do not choose to do so? Thanks
I don't really know what your referring to, but if you are referring to the patent, MYEC has exclusivity
18.Hi Ed the current bank integrations pre seergate do we have to start over with them due to this acquisition?
No
19.@edstarrs, we all know this is you and this is the actual company page account. But do you or your team ever plan on contacting facebook to attain a blue checkmark on your page for "verified account". It just makes it look more authentic in my opinion (same with the twitter account). And thank you for everything that you and your team have done, I know it's not easy.
Good idea, thank you!
20.Do you know if there are any advertising initiatives planned by Sionic Mobile and/or MyEcheck? Their app is amazing, yet not many people know ION Rewards. Obviously the more people who know about it and use it, the better MyEcheck's business relationship will be with them.
Yes, we have plans
21.Hey Ed, appreciate everything. Us 3 here would like to know the status of the new cubicles and workstations at the office?
Hey Connor, They were just installed this week, we now have all of our furniture, just need to decorate a little
22.Ed, is it crazy for us to think that this is the best unknown product payment solution in the world that we are all apart of? We all know this...but what do all the people you introduce your product to at trade shows, conferences, etc think when you explain this to them? Are they blown away or are they more on the side of "yada yada yada.......we'll keep an eye on you?"
I believe it is the best unknown payment solution, I think others agree and many more will after they use our mobile apps
23.Mr. Starrs do you think @Hemptres is the best looking Lady and #MYEC supporter on the #Twitter?...Not worried about the company I know you got that covered and i got time on my hands...
I have not met her but I love her support!
24.Why did you guys go DARK for so long and not provide us updates sooner? Can MyEcheck start providing updates at least once a week without a PR?
We update whenever we can
25.If this has been asked and answered I apologize but are we still working with William Mills Agency? Recent PR's haven't had them listed so I was just wondering because I think this is going to blow up and it'd be great to have a good PR firm to handle things....
Yes we still have William Mills, they are working on other projects for us, Im going back to doing PRs
26.Has MyEcheck been in talk with Ariba a major procurement service to our government if not are they on your list?
I believe we reached out but have not gained any traction yet, again not a primary focus this quarter
27.Will you be delivering an app to Itonis Holdings soon?
Yes we will
28.How will MyEchecks APPS be brought to market? How will you bring consumer awareness?
Trade secret marketing strategy
29.Is there any advise you could share with current/new long term shareholders to calm our nerves regarding $MYEC?
Quit listening to bashers
30.@edstarrs, what is the update on the CA certification ?
We are full registered in CA
31.Will MyECheck get Seergate employees in the deal ?
We get the system developers
32.@edstarrs, Are you going to use more of the TCA loan than the initial withdrawl to manage the current business expenses?
Probably not, we have no plan to use any more of those funds and I don't like debt
33.Please re-confirm that will not reverse split the stock as you have stated previously that you would not. Thank you.
We have no plans for any stock splits
34.Does Seergate then allow for MyEcheck to release its own suite of apps without the need for a new banking partner?
Essentially yes, but really it enables us to launch without a third party back-end partner that is connected to the bank,
35.Can you tell us more about SeerGate? Will they still be a functioning company under the myecheck umbrella? How many employees are their? Current revenue? Current clients? Will they remain in their current offices in Atlanta?
We will role them up into MyECheck as one company based in Folsom, no current clients or revenue but international deals pending
36.Why is the stock currently being diluted? What is the #1 priority you are working on?
The stock is NOT being diluted, in fact the opposite is happening
37.Are we waiting to bid on government contracts until listed in Bid Sync, but that cant happen until we are a SEC fully reporting company? Will we need a separate bank integration on that front and if so is that in place?
No separate bank requirement, we are limited to how much work load we can support as we grow, so we have to make strategic decisions regarding utilizing our resources for the most rapid revenue generation
38.@Edstarrs, Can the first version of the apps be released so that any future enhancements thru seerGate may be in later versions? Delaying the apps has so far showed negative effect on the PPS in my highest opinion.
It will likely work this way with mj-pay, we will likely release a "light" version first to get to market fast.
39.Is the FED hindering us from processing transactions under check 21 rails? If so what's the best ruling we could hope for? I'm not speaking to the future of payments, but under the current rules.
Not at all, they are working to help further enable what we do
40.I assume bank integration with MyEcheck VS 3.0 technology is further advanced than most bank computer software programs allow? If so must the bank upgrade to integrate with us?
No, we integrate to them, they do not need to match an of our system specs
41.Are any of our accounts live? We've signed about 15-20 clients and in the AGM I remember you saying 8 weeks to get they fully operating.
We have a few live but most of the ones announced recently will be going live within the next few weeks
42.By acquiring Seergate and creating a closed loop payment system, will it help resolve federal banking issues in the MJ business?
Yes, we believe we have the best solution for the MJ space
43.Do you already have a plan for the social media payment technology that comes with seergate?
What additional bank involvement & interaction is required to integrate Seergate into Myecheck beyond the ogoing bank integration effort?
None, we have the necessary components and relationship in place
44.Where do you foresee the 2015 AGM being held? Colorado maybe ??
San Francisco or Las Vegas
45.With Ebay’s spinoff of PayPal do you think it will help you to strike a deal with them?
PayPal is a target account of ours, I think we need to grow a little more before they will take a serious look at us.
46.Can you explain the main benefits of acquiring SeerGate? Is it to cater to an Worldwide client?
The benefits are listed in the press release issued today. We bought the company for the software. The primary benefit is the sub-account management capability, that is the mobile payment app back-end that we were relying on partners for. A lot of the future features of MyECheck are in the Seergate software already.
47.Ed, this past week the Market Maker VNDM has been selling shares aggressively into the float which appears to be dilution. Do you know what particular purpose/debt conversion this activity is for and if so, when it might end?
I have no knowledge of this, it is not related to debt conversion and no new shares have been issued
48.Is VX Gateway live yet? I know they were going to acquire a bank to make things work.
No they are not live, they expect to be soon
49.What’s the status of GreenPay? Is there a specific MJ bank you are working with in Colorado for GreenPay? When will it be live?
We are working with banks in the MJ space, mj-pay should be live this quarter.
50.What clients are you currently processing payments for right now that don’t require apps? Are any other clients going live soon that don’t require the apps?
We have announced our customers in press releases, some are live, some are working on getting live.
51.Will the issue with being able to buy through Scottrade ever be fixed?
Their decision not ours
52.Is there a marketing/PR plan for GreenPay once it goes live? It seems that the media should be all over it if executed right.
Yes
53.Do you have a timeframe to uplist to the next exchange?
Weeks
54.Are you currently bidding on government contracts? Why can’t you get a active status on Bidsync?
Gov't sales cycle is very long, our focus is immediate revenue
55.Is online gaming still a target for Myecheck? I would love to see you being the backend to PokerStars, etc.
It is, I think after we have successfully deployed our solution to the MJ industry
56.Is Check Alt infringing on your patent? Are there plans for a lawsuit against Check Alt for patent infringement?
Can't comment due to Zipmark litigation
57.Will there be trading restrictions on the shares that will be issued to Seergate, and will their founders be given positions at MYEC?
Yes, they have restricted stock just like me
58.Ed first thanks for your time. With all that you have going on with MYEC can you give us any projections of revenue for 2015 per quarter. I also would like to thank you in advance in make me money and I will shake your hand at the next stockholders meeting.
We have not publically released our forecast for a number of reasons, we will in the future release revenue projections
59.Without naming any "is there any sizable whales in the picture that you are negotiating with right now". Yes or no plese
Yes, more than one
60.On researching Seergate, there was an article that stated they had 200 bank clients. Will MYEC keep these clients, and what are the prospects of integrating them all with the MyEcheck process?
SeerGate does not bring any bank relationship, but Jim Fancher has a lot of bank contacts, he ran SeerGate
61.How will the new aquistion affect the float?
It will add 100M or 150M new shares, in exchange we get 5 years development and $5M worth of software that can greatly improve our revenue. Seergate also has customer prospects - big deals pending. IMO the deal is a steal.
62.@edstarrs last year u mentioned we would changed transfer agent .. when do u plan on changing the ta ? Can u ungag the ta?
We will change soon
63.Does the current version 3.0 can fully support the payment system as far as the security or fraud is concern if we expand payment transaction globally? Thank you Sir.
Yes
64.@edstarrs when can we expect Sec approval ? What exchange will we uplist to?
We got comments back and responded about a week ago, it could be as soon as two weeks
65.Can spinoff happen without stolen shares being retrieved and if it can "how"
Yes
66.What caused the delay of the sionic echeck option in January? Does this jeopardize the partnership with them? Google wallet allows an echeck option in the sionic app,will myecheck replace that?
We have a very solid relationship with Sionic. They are excited to launch our payment option and are now integrating with a new, bigger bank, AI expect they will launch this quarter.
67.Any response from Zipmark or is there any talk or negotiations about it
They filed a motion to dismiss, we just responded to that motion this week. We have talked to them and hope to evolve the discussions, they have not made any acceptable offers
68.What clients are we currently processing payments for and are we making revenue from them?
Repeat question but we are making revenue
69.@edstarrs When will we turn on the apps and generate revenues ?
Best question of the day!!!! about 8 weeks, however we now have our own back-end, we are no longer dependent on a partner for certain functionality, and we have banks in place so we will be launching the apps soon and will provide more frequent updates as we move forward.
70.Has there been any progress with MCX CurrentC? Thank you for taking the time to answer questions.
Very little
71.Why buy SeerGate with equity rather than debt?
Why incur debt when we can buy for equity and increase shareholder value
72.Any progress with banking in Colorado?
Yes
73.The SeerGate acquisition seems to be a pretty significant piece to the mobile payment system puzzle... Is that accurate?
It gives us our own back-end, plus other features we were going to build out
The back-end I was referring to the virtual account management and banking part of our mobile payment system.
74.Does MyECheck need to wait until the SeerGate acquisition is finalized to begin integrating the platform into the mobile payment system?
Integration is underway
75.When someone registers on the mobile payment system will MyECheck be responsible for storing and securing the banking data?
I don't want to comment for security reasons
76.On Monday the Federal Reserve released their strategy for faster payments... their plan to make more plans as i understand it. Any thoughts? Has MyECheck reached out to the Fed and offered opinions/solutions? Or is the company's approach , "if we build it they will come"?
A little of both, Jim has reached out to them and we have another individual we are working with that would work with the Fed on our behalf, but we do not have a commitment from the individual quite yet.
77.In the past you've stated that "International" isn't a focus. Now that you intend to acquire an Israeli company, does this give MYEC an opportunity to expand internationally? That is, facilitating transactions world-wide?
We will very likely be doing international business as a direct result of the Seergate acquisition. However we bought Seergate for the software platform and the capabilities it gives us for our mobile payment app.
78.Will it still be a spin off for green pay, and how long before it takes effect
We plan to spin off GreenPay, it has not been officially approved yet but we are making preparations
79.Any update of sionic app of when it will be launched? And have we started processing any clients that we have signed ? Thank you
Sionic told us they are 90% there about a week ago,they are finishing up with their bank
80.Have you met with Mark Cheung at Itonis recently about their license? Did they pay in full for it last spring? Any updates on when it may go live? Thanks - you are the man.
I have not met with Mark recently, we will be going down there to train on the mobile app soon.

Ed Starrs: More on the acquisition of Seergate, the purchase price is 100M shares, unless the stock price is below $0.03 at the time of close, then it is 150M shares.

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