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Until the company announces it, nothing will happen.
When doing a name/symbol change, if the company also goes through the process of getting a new CUSIP number issued with the symbol change then their transfer agent has to send out new shares to all the shareholders (retail brokers). And since PYCT has now completed 2 Stock Audits (maybe a 3rd has been done during this chill) the company is giving out the 22.5 billion (since Liani Holding's shares are locked up in the chill the real float is 22.8 billion) so all the shorts will have to be bought back by the settlement date which is about 3-4 business days after the date of execution.
You are right, it will skip hop and jump right past .0002 and then over .001
MARK THIS POST
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Try buying back about 80,000,000,000 shares in about 20 business days. That's 80 BILLION, I KNOW THE SHORT IS ABOUT 80 give or take 5 to 10 billion.
Anyway you do the math it always ends up around 80 billion.
We have about 6,000 shareholders, 22 billion divided by 6,000 is 3,666,666
So each shareholder can only own 3.6 million shares.
I personally know 50 of the 6,000 and our average is about 75 million.
Lets give the shorts a break and say the average is 15,000,000 shares per shareholder WHICH IS WAY TOO LOW BUT LETS DO THE MATH ANYWAY.
6,000 shareholders times 15,000,000 each = 90,000,000,000
subtract the 22 billion(the real OS) and you get 68 billion short.
Keep in mind I threw out the low and the high shareholders of 540 million and 1 million.
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Then why has the last 100,000,000 share block the company bought back still not cleared by the DTC??
ANS: Because the DTC cannot clear them they are naked shorts aka PHANTOM SHARES.
And before you say it's because of the chill, better think again. Those shares were bought back in February 2012. And the chill was not put on until about April 1st 2012.
I believe the chill is partially due to the fact that the company gave the DTC proof of FTD's without having to say NAKED SHORTING or FTD's.
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Try .01++++++ all the way up to .10+++
The "action plan" has to be approved because the paperwork for the name/symbol change has been submitted per IR. Call and ask him yourself.
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It was just an excuse to put a chill on PYCT so the DTC could figure out what to do because the company handed over proof of FTD's with the buyback.
Any seasoned trader can see that
PYCT RECOMMENDED BUY @.0001
If nothing was true in the last Press Release PYCT would have been shut down the day the PR came out.
Read the last financials
I said .01+++ just from the short covering
.01+++ could be as high as .05, yes
The name/symbol CUSIP change will SQUEEZE the SHORTS, 100%, watch and learn. We will see massive volume and PPS increase up to the date that the change will occur.
You seem to have some misconceptions, if this were a scam like you say the DTC would never say they would lift the chill. And they would never propose an "action plan" for the company to do.
THE OS IS ACTUALLY 22.8 BILLION BECAUSE LIANI HOLDING'S SHARES ARE NOT ABLE TO BE TRADED AS OF TODAY.
And the DTC said they will lift the chill when the "action plan" is fully executed.
You're not making sense, did you not read the latest Press Release?
Here it is!
SOURCE: PayChest, Inc.
June 27, 2013 09:00 ET
PayChest Corporate Update
HONG KONG--(Marketwired - Jun 27, 2013) - PayChest, Inc. (PINKSHEETS: PYCT) ("the Company") wishes to announce an update to shareholders regarding corporate developments.
In April 2012, the Company became aware that the Depository Trust Company (DTC), a company that oversees and clears deposits of physical stock certificates in the US, imposed a temporary chill on accepting the Company's share certificates for deposit. These "chills" are designed to protect shareholders' interests and can be placed on Company certificate deposits for a variety of reasons. As far as the Company can tell, the temporary chill was triggered as a result of an increase in issued and outstanding shares, caused by preferred shareholders converting existing preferred stock into common stock.
Previously, under a number of agreements, certain of the Company's investors funded the Company by purchasing preferred stock with a conversion feature. These preferred stockholders converted their preferred stock into common stock to benefit from the possible upside of their investment. As such, the group converted 545,000 shares of preferred stock at $0.0001 resulting in the issuance of 5,450,000,000 shares of common stock. Many of those shares cannot be deposited into the DTC clearing system for possible future sale.
The DTC chill can, and does, affect a company's funding source in that it influences the internal policies and procedures of some brokerage firms. One such policy is that some brokers have restricted or blocked buy orders from customers wishing to purchase the Company's shares on the open market. As a result, trading volumes are at historic lows. Funding has been limited to a maintenance basis whereby only essential capital requirements will be funded. According to the funding sources, upon removal of the chill, further ongoing funding is slated to return.
Previously, the Company announced a $1.2 million purchase order for 16 containers of Mibella flushable and biodegradable sanitary products with a UK distributor. Each container wholesales for approximately $75,000, depending on product and pack size mix. In a typical sales cycle, our Company would pay for some or all of the production materials in advance. The contractual risk of starting supply and then stopping threatened the distributor and end customer with an unreliable supply chain that would have damaged confidence. The Company anticipates the purchase order will be fulfilled after the chill is lifted and finance is flowing again.
For legal reasons, news releases have been infrequent while the Company has been addressing the DTC chill until a plan was agreed upon. The Company and our legal counsel have been working with the DTC to provide them with the necessary documentation the DTC has requested. The Company has addressed a number of specific issues raised by the DTC. The Company now needs to address one final issue and propose a plan of action to the DTC to bring this to a conclusion. The Company must execute this action plan in a timely manner and is confident that once the plan has been executed and all necessary documents delivered to the DTC, they will remove the chill.
Through this time, the Company has continued to produce and release its quarterly and annual filings. The Company's filings are submitted with the OTC markets and can be found on www.otcmarkets.com.
Shareholders and interested parties are encouraged to call or e-mail the Company and be put on the Company's e-mail list for upcoming news releases.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's filings with OTC Markets http://www.otcmarkets.com/stock/PYCT/financials
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Historical news releases on the Company can be found at http://www.paychest.com/news.htm
Just a prediction based on any seasoned traders knowledge of how things work. You will see
Sure they are, otherwise the DTC would not be requesting a name & symbol change as part of this "action plan". You see any seasoned trader would know that a "CUSIP" number change also means you have to issue new shares. And since the company has completed now 2 stock audits which have been done by the DTC themselves, the company's real OS was verified.
Why would the DTC request a company to do a name & symbol change without doing a CUSIP number change? that would do nothing.
YES, I was right about the last PR, and I stated news out before the end of July, 2013
Any seasoned trader knows what this means if they are issuing a new CUSIP number, it means the company's transfer agent is issuing new shares and the transfer agent is only giving out shares per the stock audit of 22.8 billion.
WRONG! The DTC won't lift the chill until this "action plan" is executed and part of the plan is the name & symbol change. Any seasoned trader knows what this means if they are issuing a new CUSIP number. It means the DTC wants the short cleaned up before they will lift the chill.
By the way, the OS is only 22.8
PREDICTION, .01++ BEFORE THE NAME & SYMBOL CHANGE
HINT; a new CUSIP number is being issued
THE OS IS ACTUALLY 22.8 BILLION BECAUSE LIANI HOLDING'S SHARES ARE NOT ABLE TO BE TRADED.
I will check back when the company announces the Name & Symbol Change. I expect massive volume up to the date announced in the Press Release, and or "ex-divi date".
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FACTS/TRUTHS ABOUT PYCT
The DTC would never request the company do a name & symbol change and possible dividend before they will lift the chill unless it would clean up the short.
THE MM's and retail brokers will be buying back all the shares they shorted on PYCT for the last 9 years.
When the company is issued a new CUSIP** number (when they do the name & symbol change, your transfer agent then has to send out new shares) that alone will squeeze the shorts. Also because of the 2 maybe 3 stock audits that were done ( I think a 3rd has been done or they are doing a 3rd right now) and not to mention the DTC is watching, because the whole purpose of this "action plan" is to clean up the short. The DTC is not making the company do a name & symbol change for their health, and that is just part of the plan. MARK THIS POST
**CUSIP stands for Committee on Uniform Securities Identification Procedures. A CUSIP number identifies most securities, including: stocks of all registered U.S. and Canadian companies, and U.S. government and municipal bonds. The CUSIP system—owned by the American Bankers Association and operated by Standard & Poor’s—facilitates the clearing and settlement process of securities.
The number consists of nine characters (including letters and numbers) that uniquely identify a company or issuer and the type of security. A similar system is used to identify foreign securities (CUSIP International Numbering System).
If the company is issued a new CUSIP** number (when they do the name & symbol change, your transfer agent then has to send out new shares) that alone will squeeze the shorts. Also because of the 2 maybe 3 stock audits that were done ( I think a 3rd has been done or they are doing a 3rd right now) and not to mention the DTC is watching, because the whole purpose of this "action plan" is to clean up the short. The DTC is not making the company do a name & symbol change for their health, and that is just part of the plan. MARK THIS POST
**CUSIP stands for Committee on Uniform Securities Identification Procedures. A CUSIP number identifies most securities, including: stocks of all registered U.S. and Canadian companies, and U.S. government and municipal bonds. The CUSIP system—owned by the American Bankers Association and operated by Standard & Poor’s—facilitates the clearing and settlement process of securities.
The number consists of nine characters (including letters and numbers) that uniquely identify a company or issuer and the type of security. A similar system is used to identify foreign securities (CUSIP International Numbering System).
You keep saying that, but yet the DTC says a different story.
Like the PR states, at the time of the audit they confirmed the 23 bil, the company issued those shares to Liani holdings after the audit and they are still not able to sell them. who cares if after the 2nd DTC Stock Audit the OS was 22 or 27, the only shares that were sold was the preferred shares and most of them are not cleared yet. So I said 27 instead of 22, simple math shows why the OS is 27 now. BIG WHOOP!
The only shares that were issued since then are the ones with the chill on them. So I believe the company when they say the OS is 27 bil. There has been hardly any shares traded since the completion of the Stock Audit. There has been roughly 4 to 4.5 billion shares traded since the audit. Maybe during this chill a 3rd Audit was done? I say yes, the DTC needed another audit done to release the chill.
PayChest Completes DTC Stock Certificate Audit
IF THIS PRESS RELEASE WAS FALSE PYCT WOULD HAVE BEEN SHUT DOWN BY THE CLOSE OF THE TRADING DAY ON THE DAY THIS WAS ISSUED.
HONG KONG--(Marketwire - Jun 20, 2011) - PayChest, Inc. (PINKSHEETS: PYCT)
PayChest Inc. (the "Company") is pleased to announce it has received confirmation that it has completed a common stock certificate audit with the DTC (Depository Trust Company). The audit's purpose is to reconcile physical certificates issued by the Company and on the register of DTC and certificates on the Company's central register that are held by bona fide shareholders.
The audit and reconciliation identified certain PayChest certificates issued between 2005 and 2008 that were not accounted for correctly. The Company will increase the reported issued and outstanding shares to 22,374,345,625 (an increase of 124,014,285 or about 0.55%) upon the publication of the next financial statements (March 2011) planned for filing this week.
No new shares have been issued and the higher recorded share count following this audit reflects an improvement in accounting of shares already issued.
While this is the true share count of issued and outstanding shares of the Company, the number of shares in circulation may differ due to market maker activities independent from the Company. Market makers are third party entities that create a trading platform for the Company's shares to be traded. They post bids and/or offers for the Company's shares.
The DTC audit is an important tool for the new management team as it improves upon existing fiscal control and record-keeping in anticipation of the planned stock dividend/spin-off.
The completion of this audit allows the Company to be DTC eligible enabling the Company to move its Transfer Agent activity to a new service provider that is recognized and regulated by the Securities & Exchange Commission.
The Company plans to engage a new Transfer Agent, prior to the spin-off of the Oregon subsidiary, to ensure the stock dividend process is closely controlled while being expedited as quickly and accurately as possible.
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.
Yes but back then the company did not go through 2 DTCC CONFIRMED STOCK AUDITS
The DTC confirmed that the OS is 27 billion and change, DIVIDENDS are only going out to those shares, any surplus of shares above and beyond that will not be getting the divi, HENCE THE TERM "SHORT SQUEEZE".
I will bet AGAIN! Find another company who has done 2 DTCC confirmed Stock Audits.
Tying a DIVIDEND to each share WILL bust the shorts, AND THAT'S A FACT.
"to bust a short and the time and costs" I would say the last 5 years of this company's time and money is a millennium for a pinksheet.
There is a short and the DTC told PYCT what they had to do to get the chill lifted and it has been approved, otherwise the company would not have filed for a name & symbol change as IR noted as a name and symbol change is "part of the plan".
DIVI is the other part.
WRONG! I have the proof of churning and it's not from the company selling it's from 2 Mm's in particular and I got the proof through FINRA.
I will bet, The DTC would never make a name & symbol change PART of the plan if it would not be PART of the plan that forces the crooked MM's to clean up their short.
If you care to read the last Press Release, all your answers are in there. Re-read it and make a new post because you are not making sense.
It clearly says that the company must execute this "action plan" before the chill will be lifted. Says nothing about the end of the month.
no it will be before that
Given the fact that the DTC is basically managing and overseeing PYCT's moves to get the chill lifted, things will most likely get expedited in my opinion.
THE DTC WOULD NOT LIFT THE CHILL IF THIS WERE ANYTHING CLOSE TO A SCAM, AND THE DTC ALREADY TOLD THE COMPANY THEY ARE GOING TO LIFT THE CHILL.
SURE THERE HAS BEEN, THE DTC HAS PROOF