MyECheck, Inc. (fka MYEC)

[Lucky Charm]

@MyECheck: MyECheck tells SEC it will increase volume of filings as a public company http://t.co/L4ARXxoiq1 via @Sacbiz

MyECheck Inc., showing further signs of emerging from corporate slumber, announced Monday it intends to increase its visibility as a publicly traded company.

In recent years, the Folsom-based company reduced the volume of statements filed with the Securities and Exchange Commission to a trickle. It now intends to again become a fully reporting company, which means reporting quarterly earnings reports and balance sheets.

The company's stock (OTC: MYEC) is currently traded on over the counter in the "pink sheets" market, a largely unregulated exchange.
With more transparency in its financial statements, the company will become eligible for trading on a higher level exchange.

MyECheck, launched in 2005, developed technology to electronically transfer money using the nation's check-processing system, as opposed to clearing payments through the nationwide debit or the credit-card system. MyECheck was granted a patent in 2008.

The company was launched in El Dorado Hills by payment system veteran Ed Starrs, who remains its CEO.

MyECheck earned $1.4 million in the first half of this year, up from $400,000 during the first half last year. The company reported revenue of $1.5 million in the first half, up from revenue of just $3,025 at the same time the previous year.