Paychest Inc (PYCT)

[poopscooper]

$600K Note for services...yah right what services?
Trades of under 0001 only started surfacing after this deal..
Someone happy getting under 0001!
Must be better than zero


On February 1st, 2010 the Company issued a Convertible Note for $600,000 to Rich Capital International Enterprises for services. The Note attracts 5% simple interest commencing September 1st 2010. Payments for interest and principal commence only when Company revenues reach $3,000,000. On or after September 1, 2012 the recipient can convert payments due into common shares at 75% of the market price at that time. The maturity date of the Note is September 1,2015.