MyECheck, Inc. (fka MYEC)

[chris67]

Here is my concern and it is a HUGE one. The bottom line is that you cannot release a Q1 and announce that you have added over 1 BILLION shares to the float and not expect the share price to drop. We our talking about adding 1 freakin BILLION shares. Some companies don't have 1 tenth of that in total outstanding in shares. The last addition was 425 million shares which given first quarter avg pricing is ALOT of money. Nobody has been able to answer as to why they did not use some of the $1 million in cash on hand to pay debt instead of new shares....not even Ed has addressed that. prior to the 425 million shares we had another 600 million shares that were never addressed in the previous Q and A session although they were already issued. This does not bode well for shareholder confidence. Another thing; many of the longs here think that Ed walks on water and can do no wrong...A facebook long asked him about the new shares and he basically said if you do not like what is going on you can move on. That is an unprofessional comment coming from a CEO. Yet he got praised for having "balls" to make that comment. Majority shareholder or not, Ed has to realize that this is a PUBLICLY HELD company and there is a responsibility to shareholders. It is not a sole proprietorship. I am not a flipper. I held all the way thru the intraday high of .082
and I do not plan on selling any time soon but the new shares are extremely disturbing. I have zero respect for Des Row but he brought up the point about MJ-Pay coming back to Sierra Global which has Ed's number and IP address...supposedly MJ-pay and Myec are different companies so how do you explain this? Ed sees these questions being asked so why not address them??? Do shareholders find confidence in seeing that MYEC's law firm also represents many yield, stop and grey market companies. I find no reassurance in that. Ed stated that he expects the share price under the current share structure to SURPASS the previous share price of like $50 or $75 per share. If he truly believes that then why not retire a hell of alot more of his own shares?!?!? I know I know, you will now ask me to give up some of my 540k for free....The bottom line is that blind faith without ever questioning someone's actions is not good.