MyECheck, Inc. (fka MYEC)

[MODiFiEDZ]

I received some questions regarding Sierra Global, and although I believe I have answered these generally in the past, I'll provide more details here.
In 2013, MyECheck was sued by a company that we had borrowed money from in 2010 called Tangiers. At the time MyECheck’s prospects for success were highly uncertain, however Sierra Global repaid the loan in 2013 in exchange for the future right to convert the debt into shares of stock. At this time the stock was essentially worthless, there was no market for it and almost no public float, yet Sierra Global invested their money in order to help MyECheck get out of a law suit we would lose.
Sierra Global converted portions of the debt over time, they did not sell any shares into the market. Instead they sold the stock in bulk to a third party who sold it into the market gradually, which created the public float, these are the shares you own most likely. I do not know how and when the shares were sold into the market, and neither I, nor MyECheck, received any money from the sale of any debt or shares.
In 2014, Sierra Global created a plan for a payment app for the MJ industry and formed GreenPay. They invested in both a software license and a patent sub-license putting over $1,000,000 cash revenue into MyECheck. Later Sierra Global decided they could not (or didn't want to) operate the system so we worked with them to acquire GreenPay from Sierra Global. This negated the $1,000,000 licensing revenue we received months earlier in the eyes of the SEC, which is why we had to restate revenue in one of the quarters last year.
Sierra Global is an investment holding company that holds a patent sub-license from MyECheck, I don’t know what other investments they own. Neither MyECheck nor I have any ownership or economic interest, nor have received any money from Sierra Global other than the licensing fees.
https://m.facebook.com/myecheckinc/posts/441195412731228