Paychest Inc (PYCT)

[poopscooper]

Speaking of lawyers..We had on here posting for a while.
He did ask tough questions and was ready for day in court with the clowns.
Too bad they didnt come knocking.
pyct tooo busy selling dream paper?


https://www.google.ca/search?q=mortal+myth+questions+pyct&rlz=1C1PRFA_enCA450&oq=mortal+myth+questions+pyct&aqs=chrome..69i57.9813j0j4&sourceid=chrome&ie=UTF-8


From: mortalmyth 11/5/2012 12:15:11 AM

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What is Xinpro Really Manufacturing and What May be Bought?

Paychest clarified their intentions in their 2Q2012 report filing ...

Reference from page 5: "Except that we have signed a letter of intent to acquire the film manufacturing from Xinpro Manufacturing, there is no purchase or sale of plant anticipated."

Paychest clearly states they are possibly considering acquiring the FILM manufacturing capability from Xinpro, but not the whole plant (if it even exists since no one has yet to provide any proof). That's why a question was submitted to Tom Hands (Paychest IR) on 6/15/12, concerning who has Flushaway and/or Mibella end product manufacturing responsibility (as noted below).

7) Does Xinpro Manufacturing of China only produce film for their work share in product production, or are they also responsible to produce the end product(s) and/or its packaging?

So, who is producing the absorbent material and how are the end products being produced and who is doing it since Xinpro clearly isn't performing these operations per all PRs from Paychest which indicate only the Film production aspect? Does anyone have insight into this important piece of the puzzle? It just might answer why no actual Flushaway and/or Mibella product completion has been announced to date or product shipped, and why even the Paychest website doesn't have product pictures and packaging information on it. Think about this for a few minutes. Is the company just clowning around with the shareholders?

Good luck to the longs.

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From: mortalmyth 11/5/2012 12:40:25 AM

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Caution, potential attempts to entice buying of Paychest shares ...

Posters may hear lots of what sounds like exciting things in store for Paychest but you would be best served to do your own due diligence and verify any message board statements prior to sinking your hard earned money into Paychest. For example, you may see things posted such as "Lots of news coming for Paychest that is ready to hit the news wires as soon as the DTC chill is lifted. Grab all the shares as soon as you can so you aren't left behind."

Be aware, that per wikipedia, these kind of statements fit right into the pump and dump playbook. These statements fit the definitions of "Often the stock promoter will claim to have "inside" information about impending news." and the "Messages in chat rooms and email spam urge readers to buy the stock quickly.".

--------------
Pump and Dump Scenarios Explained:

Pump and dump schemes tend to take place either on the Internet including e-mail spam campaigns or through telemarketing from "boiler room" brokerage houses (for example, see Boiler Room). Often the stock promoter will claim to have "inside" information about impending news. Newsletters that purport to offer unbiased recommendations then tout the company as a "hot" stock. Messages in chat rooms and email spam urge readers to buy the stock quickly.[1]

Unwitting investors then purchase the stock, creating high demand and raising the price. This seemingly "real" rise in prices can entice more people to believe the hype and to buy shares as well. When the people behind the scheme sell their shares and stop promoting the stock, the price plummets, and other investors are left holding stock that is worth significantly less than what they paid for it.

Fraudsters frequently use this ploy with small, thinly traded companies known as "penny stocks," generally traded over-the-counter (in the United States, this would mean markets such as the OTC Bulletin Board or the Pink Sheets), rather than markets such as the New York Stock Exchange or NASDAQ because it is easier to manipulate a stock when there is little or no independent information available about the company.[2] The same principle applies in the United Kingdom, where target companies are typically small companies on the AIM or OFEX.
---------------

en.wikipedia.org

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From: mortalmyth 11/5/2012 12:22:24 PM

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Just Some Clowning Around With Paychest?

The diversity of statements made regarding Paychest is nothing short of amazing. Below are a couple of examples depicting some of Paychest's alleged challenges, evidently provided by those with limited understanding of market principles or investing acumen. Comments to the statements offer a counterpoint view and to provide clarifications as needed.

Statement: Look at the securities that have run hard with an illegal chill on them, I have seen many over the last year and like PYCT the DTCC puts chills on companies someone is massively short on and is making headway in their viable business.

Comment: There is absolutely nothing "illegal" about the DTC "Chill" currently imposed on Paychest. The company/insiders brought this formal action upon themselves as admitted to in their 2Q2012 report.

Statement: Paychest has a variety of evidence of naked shorting and moreover market manipulation, like the 100,000,000 shares/SHORTS they paid CASH FOR and can not retire via their SEC approved transfer agent.

Comment: Paychest continues to be unable to retire the buyback shares due to the on-going DTC "Chill" which, as stated by the company, was due to insider conversions of preferred shares and NOT because of naked shorting. The real question is just how many new converted shares were issued that caused this "Chill" to occur? And, since the efforts to lift the "Chill" are continuing, the 3Q2012 report, which is due in a couple of weeks, may not reflect the real share situation. As such, the full story and impacts to the outstanding share quantity may not be known until the 2012 Annual Report.

From page 6 of the 2Q2012 report: "The Company has been delayed in pursuing this due to a small core team that has been addressing a temporary 'chill' imposed by the Depository Trust Company and the extended absence of the President, for personal reasons. As far as the Company can tell, the temporary chill was triggered as a result of an increase in issued and outstanding shares, caused by preferred shareholders converting."

Statement: Its not illegal to catch the shorts, expose the shorts, sue the shorts or force them to cover.

Comment: Yes, real companies that have proven naked shorts, as reflected in FINRA generated Fails to Deliver (FTD) bi-weekly reports, announce it to the world and do pursue legal remedies. But, then there is Paychest, after all these years not even one peep from the company about any naked shorts, much less a massive one.

Statement: Lets drop the silliness of denying the massive short on PYCT we all know its real its huge and it will be covered.

Comment: Where is any proof of a current existing massive naked short in PYCT to counter the SEC and FINRA FTD reports? After conducting DTCC audits with Paychest's SEC approved transfer agent there remains no confirmation or even a hint of a naked short. The PYCT massive naked short is just alleged and obviously an urban myth.

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To: xinpro who wrote (25) 11/12/2012 10:02:07 PM
From: mortalmyth

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I wonder just how is Paychest supposed to be able to afford to buy Xinpro FILM machines if they can't even spend $1 to market their supposedly produced feminine products (e.g., no trade shows, conferences, journals or magazine advertisements)? I guess it would be an easy asset purchase if the machines don't really exist. But, assuming they do exist, this just sounds like more clowning around from Paychest.

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To: xinpro who wrote (19) 11/12/2012 10:18:33 PM
From: mortalmyth

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It's nice that Paychest registered the Mibella NAME, but why haven't they also registered the PRODUCT if production has been going on since last November (yep, a year)? I also wonder if the FDA might be interested in better understanding the materials and characteristics of these feminine hygiene products. It seems a little strange that there has been no word from Paychest in this regard. Maybe they're just too busy right now trying to resolve the on-going legal DTC "Chill". Maybe something more will be provided in the upcoming 3Q report.

Anyway, good luck to all.

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