Bill,Bruce,and Jim quit for various or maybe similar reasons. Please allow me to take a second to roll my eyes if you will as most public companies encounter this dilemma regularly. We already know MYEC is strapped for cash.
Sierra Global is a private company who owns the properties in question. See below excert from 2016 10k.
"In addition, certain other assets owned by GreenPay, LLC were retained by Sierra Global. The acquisition of GreenPay, LLC was limited to acquiring the name and the business plan for GreenPay, LLC. All other assets were excluded from the acquisition."
Sierra Global is NOT a subsidiary of MyEcheck. I don't care if Matt Hanson is Ed's alter ego! Sierra Global's assets DO NOT belong in MyEcheck's financials! I believe Matt and Ed are business associates that protect the properties from being taken by any legal course of action involving MyEcheck. You think a small otc company that has a ceo with his name on a title can't separate a public and private business that is NOT a subsidiary?? Get serious!!! Below is the full explanation from the 2016 10k. Pretty simple, explanation,imo.
"On August 20, 2014, MyECheck completed the acquisition of its licensee, GreenPay, LLC. The net purchase price for the licenses sold to Sierra Global was determined to be $412,000 after the acquisition of GreenPay, LLC. The license issued to GreenPay, LLC on February 24, 2014 will remain with Sierra Global per the terms and conditions of the merger. In addition, certain other assets owned by GreenPay, LLC were retained by Sierra Global. The acquisition of GreenPay, LLC was limited to acquiring the name and the business plan for GreenPay, LLC. All other assets were excluded from the acquisition. GreenPay, LLC is now a wholly owned subsidiary of MyECheck, Inc. GreenPay assets are owned by MyECheck, however GreenPay will be operated as a separate entity and will move forward with an independent board of directors and management in 2016."
Regarding the transfer agent(Signature)...read the Seven Miles lawsuit. They issued shares to a company who presented them with fraudulent documentation without consulting the ceo of MyEcheck. Verification is a simple process and part of their job.
ANY QUESTIONS???
AI
