Here's the whole thing. I'm sure others have got the same email.
Paychest Inc. does have some of the rights to sell the product in the US, but not all. Consolidated Ecoprogress had set up 2 distributors and one broker to sell the product to a limited number of retail locations. The rights to sell the product into Wal-Mart and K-Mart and a few others will remain with Consolidated Ecoprogress. Paychest will have the rights to sell to most other retail chains and stores in the US. Due to the number of questions about this, a news release outlining the rights that Paychest has in the US will be released early next week.
The product is presently sold in a few dollar stores as production had stopped about a year ago to redesign the product and to make a more consistently performing product. In addition, the margins were extremely thin and the change makes for higher margins and thereby a more sustainable product for the long term. The margins are critical for the long term success of the product. Production will resume shortly.
The shares outstanding are 19.85 billion and the authorized capital is 25 billion. There are no plans in the foreseeable future to raise the authorized capital. However, at a much higher market capitalization, it is possible a private placement may be done to further the business model. In the near term, insiders will finance the first $1,000,000 or more. Discussions are underway for debt financing (non-dilutive), purchase order and accounts receivable financing and lines of credit (all non dilutive).
The TA is a separate company. Their number has been listed and people that call and leave a message are called back. If they don't leave a message they won't get called back. In any business, if a person does not leave their number and name, they won't get called back. If it is important enough for me make a call, I always leave my name and number.
Tom Hands
Paychest IR
