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They didn't, they came from groupie investors, which is bad for the company, because there is no product out so they are misleading the company and the customers about to download (possibly) the app.
Hitech, are you saying people should not make money? Hell if my stock went up to 08 cents and it is my company, you bet your ass im selling some shares.
Ed took those shares and put the money back in the b usiness and for his own personal wealth which you cant blame him for.
If you do not believe he put the money back in the business, here are some reasons to think he did:
-An office
-more employees
-auditors
-web design
-app design
-logo design
-marketing material
just saying, all the things listed can not be done with no money right?.....
I think it is only business days Taurus, so that would make it Friday next week I believe
I just looked at this on facebook. Ron_active is of course one of the people that gave the app stars.
All this does is hurt the company. Because when the app comes out, lets say its a really bad product, people need to say its a bad product so that the company can go back and fix it. Not just praise Ed for putting something on the market. If it is a great product, the market will respond with good reviews. This stock is becoming a joke. It is a like a underground band that has groupies....
People are so arrogant with this stock it pisses me off.
I hope this baby rockets from 1 cents to Infiniti...
No worries. It just seems that it was given in such a haste. Spelling errors, saying they cant take on new business but than saying they are expecting large people to come aboard? I know it is facebook but even to me, a long term investor, this is to fast.
This is my last post on the subject. I understand your counterpoint and I respect it. Hopefully they can start to stick to PR's
that's fine, im simply just stating my opinion that's all. Ill stay quiet.
No I don't think this company is bullshit, I just find this release really weird. Never seen it...same day your stock is tanking... (tanking meaning.0017 hahaha that's really nothing but in a penny it is something
As in you think it was needed today? I just have never seen a company issue something that fast when there stocks tanking, that's weird to me. I am an investor but its just odd to me that today had to be the day he says that stuff. Maybe today is just like any other day, im not sure
Whitefish, I actually agree with you, why post an update? because your stock is tanking right now? That is fishy...very fishy....
Ouch hitech! very ouch baby...
I think if he sticks to the June 29th deadline (if you will call it that) That would be huge....whether its a scam or not, price should go up because ultimately revenues are now going to increase. Which means if you think it is a scam, thast is a perfect time to sell your shares because im sure someone at that point is waiting to gobble them up.
I know I am not hesitating to sell or buy. Which ever tickles my fancy that day.
I sure hope it is not a scam. If it is, I how it goes up to .05 so I can get out with some extra cash LOL
Kanobits is pumping hard.... just wait for them to announce if it went live. Then we will know
I know I was kidding hahaha that would put me at 650K
2 dollarrrssssssszzzzzzzzzzzzzz WOOOO
Does anyone have the full Q&A form last week. I saw Penny posted it but I am looking for the full audio
Lets have a count down of 29 days. The days I wish would fly buy so I could have a day off of work for the 4th of july! #NEEDAVACATION
hahahahahhaahaha so funny. Good work on that
Hitech, Would you use his product if it releases?
Highlander, not to be a dick, but did you even look at the Cash flow/income statement?, he said operating profitably, continuing operations is positive, March 2014 and june 2014, goes negative sept and December. So if it was a year ago today he said that (I am taking you literally), then he didn't lie, now if he said that in September, then he is a clown, but techniqually, he isn't lying. look at the F/S yourself. they are online.
ED POSTED THIS ON FACEBOOK:
Update on Form 10, App Launch and Revenue Growth
We were unable to complete the audit of Seergate to SEC standards within the allotted deadline, therefore we had to withdraw our application or it would have been rejected. Seergate's auditors, PWC, is working on competing the audit to SEC standards. They have told us about 3 weeks to finish, at which time we will re-file the Form 10,it should be 100% complete.
This is obviously very disappointing, in hindsight we should have delayed the closing of Seergate until after the From 10 was accepted.
However, it is merely a delay with our Form 10 registration, we will get there, and this does not impact our business!
Our business remains on track to deliver the downloadable mobile commerce apps for MyECheck and our licensees and customers, this month. This app will be the first ever downloadable commerce platform that enables secure, real-time mobile POS sales without interchange fees, the 2% to 4% card companies charge businesses. Users and businesses will be able to adopt the system simply by downloading the app and registering on the system, and save interchange fees. They also get guaranteed payment, faster availability of their money, less compliance regs, and many other benefits from our system The system eliminates the need for people to carry money or cards.
Also, we are rolling out a mobile payment solution on another continent with an international bank partner this month. Our mobile and social commerce platform will enable safe, real-time, low cost commerce in third world regions where no electronic commerce system previously existed. This deal is very large and will not only generate very substantial transaction fee revenue due to the very large number of users and transactions, it will also have a positive humanitarian and economic impact on the region.
VIA EDGAR
United States Securities and Exchange Commission
Division of Corporation Finance
100 F Street, N.E.
Washington, D.C. 20549-6010
Attention: Ivan Griswold, Attorney-Adviser
Re: MyECheck, Inc.
Request to Withdraw Registration Statement on Form 10 (File No. 000-55296)
Gentlemen:
MyECheck, Inc., a Wyoming corporation (the “Company”), hereby respectfully requests that the Securities and Exchange Commission (the “Commission”) consent to the withdrawal of the Company’s Registration Statement on Form 10 (File No. 000-55296) together with all exhibits thereto (the “Registration Statement”) as of the date hereof or at the earliest practicable date hereafter.
The Company believes that withdrawal of the Registration Statement is consistent with the public interest and the protection of investors, as contemplated by Rule 477(a) under the Securities Act. The Company is withdrawing the Registration Statement because the Company has decided that the previously disclosed financial statements for Seergate, Ltd., an Israeli corporation and recent acquisition of the Company, should be audited in accordance with U.S. GAAS. No securities were sold or will be sold under the Registration Statement. The Registration Statement was originally filed with the Commission on May 7, 2015. The Registration Statement was not declared effective by the Commission under the Act.
The Company requests that, in accordance with Rule 457(p) under the Securities Act, all fees paid to the Commission in connection with the filing of the Registration Statement be credited for future use.
Please send copies of any written order granting withdrawal of the Registration Statement that the Commission may issue to the undersigned at the address above on this letter with a copy to the Company’s counsel, Ephraim L. Michael of The Michael Law Firm, LLC, by email at emichael@michaellawfirm.com or by fax at (678) 348-7292. If you have any questions regarding this letter, please contact Ephraim L Michael at (678) 464-9095. Thank you for your assistance with this application for withdrawal.
Sincerely,
MYECHECK, INC.
By: /s/ Edward Starrs
Edward Starrs
Stop replying to yourself all the time hahahaha
You guys all say the same shit everyday. The board should be quiet until something happens. SHHHHHHHHHHHHHHHHHHH EVERYONE.... SHHHHHHHHHHEEEEEESHHHHHHHHHHHHHHH!
I believe june 9th is the 60th day...unless the amendment has granted another 60 days, then it would be in july ir august.
What are you talking about. the trend is .0003 That is nothing. Typical movement IMO
I do not know if anyone saw this.
This is from there facebook page.
"We are beta testing the components of the mobile commerce system including our bank integration. We have everything we need and we will upload the app to iTunes and Google around the 3rd week in June."
So lets say 2nd week of July. Apps will be here. Congrats.
hahahaha I am not sure man. Buyout seems like a far stretch with this company. That is not bad, Ed has put "blood sweat and tears" into the company so I am not sure he would be willing to let his little baby go.
hell I would love a dime, but I feel like there is no support for a valuation like that. I may be wrong though.
Yea but the ball doesn't roll till people see revenues and customer awareness campaign takes place. Who knows when that will be. August 15, the day we live or the day we die.
After a long weekend of not coming on this thread, I come back to mutiny! The AGONY!!!!!!
Can you post a link to the Seergate financials? I can not find them.
Absolutely.
Also, I am not sure why no one has posted this from the May 15th "PR". This is the most significant thing in there...
"MyECheck filed a Form 10 Registration with the SEC on April 8 in order to become fully reporting with the SEC. Due to the recent acquisition of Seergate, Seergate audited financial statements and other documents were required to be added to the Form 10 filing. The company has been responsive to the SEC and expects that the Form 10 will be approved within the 60 day window ending June 7, or will automatically become effective on that date. MyECheck will then pursue its application with the OTC for graduation to the OTCQB stock exchange, eligible only for companies that are fully reporting with the SEC."
http://app.newmediawire.com/news/55564fe1493bbf000940455d/myecheck-posts-auditor-reviewed-first-quarter-2015-financial-statements
Not to be a downer, but MYEC is not the only source of payment a company can use. Without MYEC spending money on a huge marketing campaign to bring awareness about their product. Companies will use other methods that are all ready in place. I believe MYEC has plans to do this but, that is mere speculation on my part. Not sure if Edward has stated anything about awareness.
net loss off 100K...not treble...current liabilities.....horrendous...company crippling, no idea how they stay afloat
I hear you, except how much could they cost of goods sold really be? It just implementation and man hours. I would think if they had revenues lets just say 15 cents a transaction with a 1000 transactions your looking at 150 bucks. likes just be safe and say they make 10% margin which you know is very conservative, your looking at 15 bucks of profit. .... minus what ever expenses are....all I am saying is that yes, COGS is going to be more but even with a conservative figure, revenues just have to be higher, doesn't make sense if they are not wirth new costumers. Also COGS should go down with every new customer because implementation should become easier. I wonder what their expectation is on cost per customer. Plus on your cash flow, they have entire side for financing activities & operations. That will be interesting.