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Wait, what? He blamed Thanksgiving?
LMFAO!! Priceless!
Quarter 3 ended almost 2 months ago and he blames the Thanksgiving holiday.
I'm going to go out on a limb here and say MyECheck is the only company in the United States that used the Thanksgiving excuse with the U.S. SEC.
He should of just said, "my dog ate it".
This cannot be a real company. Ed Starrs is a real clown.
Facebook: May 1st 2014
MyECheck has never been in a better position than it is right now, we are very confident in our products and the demand for them, and we are reaching our goals and achieving new milestones daily. We are building the internal infrastructure of the company to facilitate and support our growth with new hires and a new facility. We have customer and licensee integrations that are being completed, bank integrations under way, we are engaged with many new prospects and we are operating profitably. I haven't been selling stock and everything at the company is very positive and progressive.
Just the facts:
August 13th Form 10, CEO disclosed his security ownership:
1,953,456,970
According to the transfer agent on Nov. 5th he now has: 1,939,692,648
Difference:
-13,764,322
According to OTCMarkets the float is:
2,196,021,863
According to the transfer agent on Nov 5th the float is now:
2,266,180,130
Difference:
+70,158,267
According to OTCMarkets on Oct 15 the O/S was:
4,161,145,067
According to the transfer agent on Nov 5th the O/S is now:
4,205,872,778
Difference:
+44,727,711
So as you can see by the facts, the CEO has sold shares since August 13th and dilution has occurred.
As pointed out by WhiteFish, the "honest and transparent" CEO stated on January 30th that SeerGate's shares would be restricted. As discovered by the T/A numbers, that is not the case.
Tomorrow. The dilutive market makers will disappear on the OTCQB.
I am hearing it is a completely different market.
How long is the UBA delay?
Banks lock in funds of customers without BVNs
Another customer who craved for anonymity said: “I have two bank accounts I am operating and I have done my BVN with one of them (Ecobank) but I could not withdraw from my UBA account. I was asked to link the two accounts so that I could have access to both accounts and that is why I am here today.”
Fascinating how easily he lies.
He also lied about not gagging the transfer agent. The President of Signature Stock Transfer verified that.
He lies so much he cannot keep his stories straight.
Sierra Global went from "provider of custom banking software solutions" to "Investment Holding Company".
I thoroughly enjoyed that short story:
"Sierra Global invested their money in order to help MyECheck"
Who was helping whom?
Was he saying they really did not need to purchase a license and just wanted to lend a helping hand?
Why is one able to get the share numbers for other companies they represent and not this company? Can you explain?
Attended the last one. Eye opener for sure. If there are future ones, highly recommend it.
The market does not understand the potential of the payment sector.
PayPal is the leader in a growing mobile payment revolution with no real competition. Expect revenues to grow over the next several years as more and more consumers become comfortable with mobile payments. The potential with the acquisition of VENMO is enormous.
I am extremely bullish. Definitely something to keep in your portfolio.
Current products are outstanding.
MSFT is coming back. Great investment imo.
I was not stating anything about volume. I was merely showing one example of this CEO misleading/manipulating his followers.
Institutional investors do not call penny stock companies. Especially one that was not registered with the SEC. The notion is absurd. Even more absurd was the CEO telling them to stop calling via Facebook post. It is very unprofessional.
He sold $150,000 in convertible notes to Charlie Abujudeh and Johann Gumpp. (Interesting relationships this CEO has) Today it is revealed they sold another note. Yet he will not take phone calls from institutional investors?
What does "push push push" and "tight now" mean? I feel like I have seen people say "tight now" a few times on this board. Curious, is that an inside joke? I have not seen it in the Facebook investors groups. Maybe I have not been invited to all of them?
Yes, and the route he chose was:
~ Issue himself 3 billion shares
~ Issue 650 million to an offshore shell
~ Announce an IP business licensing model
~ Sell licenses to shell companies to create the illusion of business while the 650 million shares are sold into the pump
~ Rally buyers on FB by talking about a product that did not exist
Now he tells his followers that the critics are just trying to scare them out of their shares despite the overwhelming evidence they provide.
Manipulation 101
This is a serious allegation. I challenge the CEO to provide any evidence of this.
... market makers pay investors hub...
Time to short? ;)
Sounds like a slow death to me.
Ignorance is bliss.
My facts came from the company's registration statement. A fascinating read.
Here is your float increase:
650 million - Sierra Global
Approx 40 million - Sold by CEO
90 million - Employee compensation
100 million - Steve Blandford (when? unknown)
150 million - SeerGate
etc.
The court documents show most of the 1.44 billion fraudulent shares were sold prior to Spring 2014. They also stated "MYEC discovered the fraud in October 2013". So this "honest and transparent" CEO was well aware of the fraudulent shares for 6 months before he revealed to investors in his May 20th FB post:
"There is a discrepancy in the number of shares authorized for issue by MyECheck, and the number of shares that the Transfer Agent records indicate have been issued. We have used the Transfer Agent numbers which are the greater in our current report with the OTC, and have changed the 2013 annual report to reflect the Transfer Agent numbers. We are looking into the cause for the discrepancy and what, if anything, can be done to re-allign the share structure to reflect only what MyECheck has authorized for issue."
Think about that. He knew about the share discrepancy when he first filed the annual report. He knowingly submitted false numbers.
Go MyCheck Go!
I am not sure what is more astounding. The blatant lies this CEO spews, or the lemmings who believe every word?
August 13th - he posted on Facebook that the lawsuit should go away as they repaid it. What his followers do not realize is he had already failed to make the first payment on July 30th. (See court order)
Now he plays dumb and shrugs his shoulders. "Gee golly, I guess TCA done felt like they hadda done do it?" [Then subtly shifts blame to Redwood]
Playing stupid when he knows this judgement was made because they defaulted on those settlement payments that were once going to make the lawsuit "go away".
And people still claim this man is honest and transparent. It really is incredible.
Looks like you were right about the 8K.
People are still throwing money at this scam?
I guess that explains the over 1 billion share increase in the float.
MyCheck thanks you for their property.
This fat lady has already sung.
Back in 2014 MYEC average daily volume was often measured here in the tens of millions.
The CEO's entire angle is no interchange fees for merchants. That now appears to be an insignificant selling point since major retailers are backing eMobile's competitor who also claims to reduce those same processing fees.
Major retailers vs Dick Sushi? Advantage, Chase
Whatever the difference may be in fees, it's meaningless to consumers.
If a consumer is worried about privacy and security, are they more likely to use their banks payment app, or are they going to link their bank account to a penny stock company's app? The answer is obvious.
Consumers are more likely to use their banks mobile payment app which allows them to load with debit/credit/prepaid/checking and has customer support services. A mobile wallet that also allows people to send money to each other.
Why link your bank account to a 3rd party with no support services?
If I understand correctly as a business owner, I can quickly download eMobile, register my business and begin accepting payments. One big caveat. I also need to convince my customers to go home, register and link their checking accounts to the app and then come back to purchase services. Sounds like an extra pain in the ass for me. I should just accept Chase Pay and their 90 million potential users.
eMobile - It's snot relevant.
A couple of points -
If you believe this CEO was telling the truth when he said that institutional investors were calling "daily", then why did he turn around and sell notes to 2 men of questionable character, as documented in the form 10?
Why would JP Morgan Chase buy eMobile as you eluded to? ChasePay does EVERYTHING eMobile claims, including the elimination of card processing fees.
On top of that:
* they are partnered with major retailers like Walmart
* have over 90 million Chase customers
How, pray tell, is eMobile at all relevant in the U.S.?
Pray those institutional investors do not read the Form 10.
Promos fueled both of those.
Perhaps that is why the CEO gave shares to a promoter.
Here is what will happen next week.
The letters "QB" will be attached to OTC next to MyCheck INC.
Nothing else will change. The OTCQB is not a new exchange filled with millions of eager investors, crawling over each other waiting to invest in MyCheck.
Non-issue? They defaulted on the new agreement as well.
They now have a $600k judgement against them. Seems like material information that should be filed in an 8k. Unless you do not want your investors to be aware of it.
I did and it looks exactly as you posted.
One might ask the CEO if "MyCheck" has rights to the patent as well. We know myEcheck does not own it.
PROVE it. Because the deed says "MyCheck INC" on it.
Order yourself a copy. Ask the CEO himself. Then ask him why that corporation was not formed in the United States.
FACT: The home is owned by "MyCheck INC".
He does not "own" MyCheck, Inc. Nobody does because it's a fake name. It does not exist and has not been incorporated anywhere.
Case closed.
MyECheck, INC is in big doo doo.
And so that further brings into question the owner of his property: "MyCheck INC"
Search in El Dorado County:
http://www.criis.com/cgi-bin/fbn_search.cgi?COUNTY=eldorado&YEARSEGMENT=current&TAB=1
You are correct. The CEO did register the DBA or fictitious business name, "MyCheck" in December 2011. To the same address listed as MyECheck's headquarters. This still does not explain why MyCheck "INC" owns his house. No DBA is allowed to include "INC" unless it is a corporation registered with the SOS. That is NOT the case here.
Also interesting to note, MyECheck was sued in March 2011 under the name "MyCheck Inc".
I will give you credit for doing more DD than 99% of the MyECheck apologists here.