MyECheck, Inc. (fka MYEC)

[Silverblue]

Part owner to full owner... great difference

Read PR from JUN 13 again and then re-read new PR from today:

be able to do whatever you like with the profits... like suggest to shareholders how div should be payed

go MYEC

MyEcheck Reports Intent to Acquire GreenPay LLC

EL DORADO HILLS, CA–(Marketwired – Jun 13, 2014) – MyEcheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), an electronic payment solutions provider and the leader in fully electronic check technology, today announced that it will acquire its licensee GreenPay LLC for approximately $400,000. The merger payment will be treated as an offset to a current receivable due from GreenPay LLC. No cash or stock will exchange or transfer as a result of this merger, and no resulting liabilities will be assumed.

MyEcheck announced on February 26, 2014 that GreenPay had entered into a licensing agreement with MyEcheck for a secure mobile payment solution for the legal marijuana industry. Upon delivery of the custom developed system to GreenPay, management of both companies determined it would be difficult for GreenPay, with its limited industry experience, to manage the implementation of the system, and it would be in the best interest of all parties to merge the companies.

Upon completion of the merger, GreenPay LLC will continue to operate as a separate entity to MyEcheck, but will be a wholly owned subsidiary of MyEcheck, Inc. All revenue generated by GreenPay will flow to MyEcheck.

GreenPay is launching a mobile app payment solution “mj-pay” designed specifically for the legal marijuana industry. The system will enable secure real time electronic funds transfers at marijuana retail locations, and resolve the issues the industry is experiencing by being dependent on cash. Currently, legal state licensed retailers in places such as Colorado cannot deposit their cash in a bank. The mj-pay solution will enable retailers to accept electronic transfers, and also electronically transfer their proceeds to bank accounts.