MyECheck, Inc. (fka MYEC)

[GenesisX]

My facts came from the company's registration statement. A fascinating read.

Here is your float increase:

650 million - Sierra Global
Approx 40 million - Sold by CEO
90 million - Employee compensation
100 million - Steve Blandford (when? unknown)
150 million - SeerGate
etc.

The court documents show most of the 1.44 billion fraudulent shares were sold prior to Spring 2014. They also stated "MYEC discovered the fraud in October 2013". So this "honest and transparent" CEO was well aware of the fraudulent shares for 6 months before he revealed to investors in his May 20th FB post:

"There is a discrepancy in the number of shares authorized for issue by MyECheck, and the number of shares that the Transfer Agent records indicate have been issued. We have used the Transfer Agent numbers which are the greater in our current report with the OTC, and have changed the 2013 annual report to reflect the Transfer Agent numbers. We are looking into the cause for the discrepancy and what, if anything, can be done to re-allign the share structure to reflect only what MyECheck has authorized for issue."

Think about that. He knew about the share discrepancy when he first filed the annual report. He knowingly submitted false numbers.

Go MyCheck Go!