Paychest Inc (PYCT)

[crazyjerry]

Found this on Stockfolks, more information from Tom Hands to another poster. At least some of us posters are getting regular emails from someone representing Pyct, which to me is a good pattern, JMHO on that. I'm not too well liked over there, but there's often good DD to report on. Too me this is DD, and being a mod. I'm obligated to post any good information on this stock.

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Post # 3237 out of 3238
Posted by : playingthegame Posted on: 12/1/2015 @ 06:41:58 PM
Email from Tom, addressing my concerns:

PTG, the company had recently announced a $500,000 financing. This financing is being used to get the company into commercial production and carry the initial sales cycle. It is different than P.O. financing which a company lends against purchase orders usually for interest and factoring fees. The company is presently talking to several companies with regard to P.O financing and any resulting contracts would be in a news release when available.

Secondly, to date, of the recently announced $500,000 financing, about $30,000 has been received by the company. More is expected shortly as those funds are being used for the production and sales cycle.

In terms of upcoming production, I do not have access to specific information on new parts nor production processes. The company tells me they are moving forward to commercial production shortly. I hope all is well with you and feel free to call as I enjoy talking to you.

Tom Hands
PayChest IR