Paychest Inc (PYCT)

[nasdaqqq]

Cons Ecoprogress assigns Flushaway sales to Paychest

2008-05-07 19:34 ET - News Release

Mr. John Banks reports

FLUSHAWAY SALES & PRODUCTION CONTRACTS ASSIGNED

Consolidated Ecoprogress Technology Inc.'s contracts for the worldwide manufacturing and sales of Flushaway, previously signed with April Project 1 Inc. (API) of Florida, have been assigned to Paychest Inc. of Arizona. Paychest has a broad shareholder base of over 6,500 shareholders.

The assignment of these contracts, facilitated by Cardiff Bay Holdings Ltd. of Hong Kong, enables the original contracts and terms to remain in place while completing an assignment process first contemplated several months ago. The assignment was triggered by Cardiff Bay stepping forward to assist in repaying and releasing the arrangement between Ecoprogress and API, and by API's delay in executing against its commitments.

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