Paychest Inc (PYCT)

[2manystucks]

How about this PR, please put this on IBOX.

http://findarticles.com/p/articles/mi_pwwi/is_200702/ai_n17168472

PayChest -- Financial and Transfer Agent News Release
Market Wire, February, 2007
PayChest Inc. (PINKSHEETS: PYCT) today provided updates regarding the company's financial reporting and stock transfer agent appointment. The company released a re-statement of the third quarter financials for 2006, to provide updated capital contribution disclosures, previously omitted and to provide clarity on inquiries made by the Securities and Exchange Commission. The financial reports are currently posted on the Pinksheets website, www.pinksheets.com . Fourth quarter results are scheduled to be released by February 15, 2007.

The company also announced the appointment of Holladay Stock Transfer Company of Arizona, as the new stock transfer agent. Prior to providing Holladay with a complete list of shareholders, management is conducting a full stock audit. The negotiation for the return of the shares to the treasury is also being finalized.

Mr. Pillay, PayChest's CEO, stated, "The initial share reduction as a result of our audits and negotiations will add immediate value to our shareholders. I will continue to negotiate the return of further shares to the treasury, using PayChest's existing non-strategic assets. The fourth quarter financials will reflect the results of actions taken to reduce expenses, curb stock issuance and pave the way for 2007."

About PayChest

PayChest and its strategic partner companies have developed an integrated online payment processing platform utilizing cutting edge technologies to deliver payment solutions online. These payment processing solutions include turnkey payment facilitation for credit and debit cards, electronic checks, money transfer solutions, gift cards and turnkey rewards based systems.