Paychest Inc (PYCT)

[lloydm]

It's one step towards something. Just a matter of what that is, and how far does $25,000.00 goes towards production cost.

Hopefully we'll find out soon!

In July 2015 the Company announced a $500,000 financing to support production and commercialization of its products.
Under the terms of the agreement, the financing would involve a five (5) year loan to the Company at 10% simple interest
with interest payments deferred, capital repayments deferred and profit share payments of up to 7% of EBITDA. PayChest
has received some funds and is optimistic that, although delayed, the first significant tranche of this financing will complete in soon. The Lender has provided the Company approximately $25,000 in cash to date.