So what happened to xinpro?
the latest news say...
With this Agreement in place the Company anticipates it will fund the supply of materials, custom machinery, marketing and, initially, receivables from sales
xinpro was to take care of all of that supply of materials, custom machinery for production start/product commercialization blahblah!!
What happened?? did xinpro just disappear or never was there just like many posted?
Too funny!!!
also funny no mention of $1.2 million Purchase Order and how that money will produce the order instead the money is for The objective of this financing is to achieve product commercialization....lol
another clownjob and again announce
An announcement will be made shortly when commercial production begins....lol
round and round you go...lol
HONG KONG--(Marketwire - May 2, 2012) - PayChest, Inc. (PINKSHEETS: PYCT)
PayChest Inc. (the "Company") is pleased to announce that, following the recently received $1.2 million Purchase Order, the Company has signed a Letter of Intent with Xinpro Manufacturing to acquire their business, as allowed under the terms of the Manufacturing Agreement.
The acquisition of Xinpro, when completed, adds a new line of business to PayChest allowing it to manufacture and sell biodegradable films; a growing field. It would also diversify the Company's revenues and risk, and sets the stage for the rollout of other product lines. In addition to the large sanitary products market, the acquisition would create the opportunity to move into the medical and bio-plastics fields.
As announced on March 2, 2011, the Manufacturing Agreement with Xinpro Manufacturing became effective upon the set up of a production facility and delivery of the first machine tailored exclusively for the manufacture of Flushaway® products. Production of polyvinyl alcohol film is a key component in Mibella® and Flushaway® products that can be used in other applications.
The acquisition of Xinpro allows PayChest to capture more of the profits associated with the Mibella® and Flushaway® product sales thereby increasing Company profitability.
The opportunity to acquire Xinpro has been made possible following the recent, first purchase order of $1.2 million for Mibella® that triggers an option to acquire Xinpro. Other purchase orders are being negotiated.
