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"Ah Yes... the beginning ripples of the new spin-down and divy-down."
Of course, time to bring up the divy... LOL The company seems to forget that if anything were really going on with the supposed divy company, they would be required to report these material events.
Safe to say there isn't anything going on with that for well over 3+ years now but yet we're supposed to believe that it's going to be worth something.
Nice to see the crack down on the non-reporting stuff. If they're a publicly owned company that doesn't report publicly then they should shut them all down IMO.
Yes, a Mod can post facts. LOL There is a handbook for Mods that I think anyone can read, check it out if so. And no, you don't have to have a paying account.
Also, for those asking, I am quitting because I am heading back out of the country in a couple of weeks and cannot dedicate any time to this site. I was lucky enough to be asked to assist some folks I know who are missionaries in Burundi and was so moved by the experience I'm heading back.
I have to say- something like that puts things in perspective when it comes to things like Pinksheet stock boards.
Looking for someone to take over as Mod here. PM or send an email to the addy in my profile if interested.
Wasn't that supposed to be today? Or did someone cancel the whole "shorts gotta cover" thingy?
I'm just relying on what the company says... that's what they said we're supposed to do. LOL
Odd how the FDA thing is a prerequisite (no idea why they hyphenated that...) but nothing was said about it before now. They outlined many things but I don't believe that was mentioned. Apparently they were never really as close to mass marketing as they claimed over a year ago.
Perhaps they will indeed string together some PRs. March is half over and we've yet to hear that the facility is done and that the machine has been delivered as expected.
PS- Hey Leon!
PayChest Registers Flushaway(R) With FDA
HONG KONG--(Marketwire - 03/17/11) - PayChest, Inc. (Pinksheets:PYCT - News) -- PayChest Inc. (the "Company") is pleased to announce it has registered Flushaway® with the FDA in compliance with medical device registration regulations.
Flushaway® pads and liners do not require pre-approval by the FDA, unlike some medical devices. Registration with the FDA is a pre-requisite for Flushaway® sales in the US, and other countries that use the US Food and Drug Administration as a benchmark.
The Company is confident it will deliver a unique women's hygiene product to the consumer that is of equal or better quality to the major companies in this marketplace (Proctor and Gamble, Kimberly-Clark and Johnson and Johnson) while having the added features of being a flushable and biodegradable product at a comparable price.
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 proposed dividend of subsidiary 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.
You should copy and paste the rest of Decosta's view as well, it's a good read.
No can do. I tend to be rather honest.
What was foolish of them to state was that the patent was discontinued when in fact it was rejected and anyone doing due diligence can see that.
"One would expect them to have a marketing force or an advertising force"
That was back in 2007 when it was the online payment deal.
My guess is they'll continue to omit filings so that they can't be accused of omitting stuff in what they actually do file.
People can always say "well when they get the filings up to date then the stuff will probably in there..."
Speaking of updated filings... where's the damn divy? lol
Perhaps they're a subsidiary of the great Genfin...
It certainly would be appropriate. Real companies are able to do so on a regular basis.
"would you as a business man order and purchase a customary piece of machinery for only that special product which pobably cost in the thousands"
It would depend on the possible ROI. The key is that in order to consider this in the first place I would have to exist.
"there isnt a manufacturing plant"
Ah, there you go- that certainly could be a problem here.
"thats what women do"
Men wink too. I've seen it. Happens all the time.
"so pyct is behind the financing for this piece of equipment!"
Then the PR is misleading. Oops.
"your saying that xinpro paid for that machine with their own money"
No, the company said that.
As for hiring Xinpro, the terms of the agreement should be disclosed in the next filing if indeed PYCT paid any money to them.
I wouldn't hold your breath for either the filing or the disclosure.
"to get that manufacture to invest in exclusively designed equipment just for the Flushaway brand."
Indeed. It seems like everyone is investing in PYCT and Flushaway except the companies themselves. They are covering their butts quite well. They know that the filngs don't show any grand expenditures for machines, factories and the like so now it's some mystery manufacturing company that's investing- one that apparently had no address or contact info.
So now we have a mystery company buying a machine from another mystery company that's going to be delivered to a dedicated facility which is somewhere around Shanghai and that will produce film using, among other things, know how. Plus, they have a patent that was rejected...errr.. discontinued for what other reason...? They have a better one of course!
Awesome.
Because as you point out, the story is old- plus it's drawn little interest. You can only take these things so far before people catch on.
So they have an out I suppose. Are we already gearing up for the next big thing?
No, we all know that PYCT owes CES the $5,000,000 and has not even bothered to show that they've paid any of it.
Fact.
There is no dividend until PYCT gets current with their filings.
They've omitted stuff from 2009- it doesn't appear as if they intend to file those.
Funny stuff with this one. According to the supporters in the know, the company owes $5,000,000 to itself and then borrows $200,000 from itself to sit in the bank while the filings show no activity for payment of goods, services and equipment.
That, and they're still not even current on their filings.
Whether or not that seems legit is up to the beholder.
"THEY HAVE BEEN CALLING WEEK AFTER WEEK FOR 3 YEARS NOW"
Sorry, that was proven to be untrue. The last poster who made that claim admitted so IIRC.
But a scammer wouldn't be allowed to collect and in this case the plaintiff did.
Legit lawsuit, legit settlement.
If you want to continue with the silliness go right ahead but you'll be doing it alone. Have a ball.
"Taking such a small amount in it self shows it was a scam."
As it's been pointed out before- settling the suit showed that it wasn't a scam in order to destroy PYCT as you claim.
Why keep posting the same stuff that has been shown to be untrue?
I'm referring to the $5,000,000 that they owe for the Flushaway deal.
Payable over 4 years and that was well over 2 1/2 years ago.
Allowing a $4,000,000 judgment in the first place is not however.
The end result was better though, that's certainly something.
Isn't PYCT supposed to have been making payments on the $5,000,000 they already owe? IIRC they were supposed to be making those all last year and into 2011.
Whoops.
You're not getting it. If PYCT would have had adequate counsel then they would not have received the default judgment in the first place.
If you have a corporate attorney and he calls one day and says "by the way, you got a $4,000,000 default judgment against you because I did absolutely nothing about it" then it's time to get a new attorney.
And if the lawsuit was bogus and he didn't get it tossed instead of allowing a $4,000,000 judgment to be entered against them then once again, PYCT needs a new attorney.
So either they had none, or they had an exceptionally bad one.
Law 101?
Interesting.
Well if they did he didn't do a good job. If you're unaware, look up what a default judgment is.
Could be...
Actually they didn't have a lawyer take any case- they simply didn't answer which resulted in the default judgment.
Nice thing for them to do for the shareholders- expose the company to a $4,000,000 judgment.
That's too bad. Bank's involvement once again doesn't bode well for the success of Flushaway.
Perhaps the revelation of his involvement is what keeps interest away. Nice of you to be warning people.
Who posted it? The only deleted posts I see from Friday were not about that topic. I delete maybe 10% of the posts here, if you believe that I do most of the deleting you are mistaken.
Whomever made the post should be able to ascertain who deleted it and they can take it up with them.
"and we have clowns saying they can't buy"
Please watch the name calling in reference to other posters.
"They hang around and watch the board 24/7"
Well, if we're talking actual fact, I see no evidence that this is the case.
Some people do have email alerts so when someone posts a response they are notified, perhaps they then come here and respond.
Perhaps you're confusing this with "hang(ing) around and watch(ing) the board 24/7.
"If it's a scam, why is everyone here posting?"
Hmmm... because the scam stocks are most often the most talked about.
They're usually the ones that have the most conspiracies (naked short, 4 year plan to burn the shorts, Dr. Fresh trying to ruin Flushaway, Knight Securities trying to ruin PYCT) by the "supporters", therefore that results in more posts refuting the silliness.
Very true. If it were an effort to kill PYCT then they would not have budged on a settlement. The judgment would have stood and that's what would have made PYCT file BK. The $25,000 just lets them off the hook.
Of course, IMO they never would get the $4M because PYCT doesn't have it, nor has it proven that it has the potential to ever have it.