MyECheck, Inc. (fka MYEC)

[DWIN17]

This is a link to the Greenpay purchase agreement filed with the SEC.

https://www.sec.gov/Archives/edgar/data/1619558/000114420415032740/v411299_ex10-23.htm

Please note the following in the filing:

SECTION 2.01. PURCHASE PRICE. The purchase price to be paid by Buyer to Seller for one hundred percent (100%) of the membership interest of GREENPAY is One Million One Hundred Seventy Thousand Dollars ($1,170,000)

The agreement provides Myec is buying 100% of the membership interests in the company and the agreement does not provide anywhere Sierra Global holds back any assets.

Now here comes the PRs:

http://www.marketwired.com/press-release/myecheck-reports-intent-to-acquire-greenpay-llc-pinksheets-myec-1920358.htm

This PR states Myec is buying Greenpay for $400K which is not what the actual agreement says:

MyECheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), an electronic payment solutions provider and the leader in fully electronic check technology, today announced that it will acquire its licensee GreenPay LLC for approximately $400,000. The merger payment will be treated as an offset to a current receivable due from GreenPay LLC. No cash or stock will exchange or transfer as a result of this merger, and no resulting liabilities will be assumed.

The terms in the PR are not close at all to the actual agreement filed with the SEC.

2nd PR:

https://www.accesswire.com/419473/MyECheck-Completes-Acquisition-of-GreenPay

This PR says Myec bought all of the assets of Greenpay which is consistent with what the actual agreement says...however, it is the opposite of everything Ed is saying now that the real estate has been discovered.

GreenPay assets are owned by MyECheck, however GreenPay will be operated as a separate entity with an independent board of directors and management.

We have some serious misrepresentations going on with the company and Ed relating to the Greenpay acquisition. He has publicly stated the wrong purchase price, the wrong terms, and has changed his story from "Greenpay assets are owned by MyEcheck" to Myecheck only bought a business plan.

Very clear to see.