Paychest Inc (PYCT)

[liketotravel]

HELP PLEASE! According to these 2 PRs, MLON just added 1 billion shares to the OS, although they are restricted. I first thought this was the same transaction but according to this they bought/traded (first PR 12/15/04) 200,million shares of Western Pacific Minerals, Ltd. from Pearl Asian Mining Industries, Inc in exchange for 500 million NEWLY ISSUED MLON and (second PR 12/16/04) 3 million shares (ERDTF.PK) from Pearl Asian Mining Industries, Inc in exchange for another 500 million NEWLY ISSUED MLON. What am I missing?



http://biz.yahoo.com/bw/041215/155753_1.html

Wednesday December 15, 3:48 pm ET

SCOTTSDALE, Ariz., Dec. 15, 2004 (PRIMEZONE) -- Mellon Research, Inc. (Other OTC: MLON.PK -News ), the market leader in providing boutique investment banking services to private mid cap companies, today announced that it acquired 200,000,000 shares (44%) of Western Pacific Minerals, Ltd. from Pearl Asian Mining Industries, Inc. (Other OTC: PRMN.PK -News ) in exchange for 500,000,000 newly issued MLON shares subject to SEC RULE 144.

ADVERTISEMENT

Western Pacific Minerals, LTD. is the beneficial owner of 50 mining claims in the historical silver-rich Slocan Mining District of British Columbia at an approximate book value of $1m.

Mario Pino, Founder and CEO of Mellon Research noted that, ``We believe this acquisition is a good hedge against inflation and with the upward trend in silver prices, those silver-rich mining claims should benefit our shareholders. We will also vote at our next shareholders' meeting whether to hold the Western Pacific shares or pay them as a dividend to our shareholders.

E. Pearl Asian, Founder and Chairman of Pearl Asian Mining commented, ``We are excited about becoming one of the largest shareholders of Mellon Research and turning control of Western Pacific Minerals over to merger and acquisition experts of the magnitude of Mellon Research.''

http://biz.yahoo.com/bw/041216/165702_1.html

Thursday December 16, 2:08 pm ET

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Dec. 16, 2004--Mellon Research, Inc. (Pink Sheets: MLON.PK -News ), the market leader in providing boutique investment banking services to private mid cap companies.

ADVERTISEMENT
Mellon (OTC: MLON.PK -News ) today announced that it a acquired 3,000,000 shares which is less than 5% of Equity Retirement Distributors Canada Ltd. (ERDTF.PK) from Pearl Asian Mining Industries, Inc. (PRMN.PK) in exchange for 500,000,000 newly issued MLON shares subject to SEC RULE 144.

The approximate book value of this acquisition by Mellon Research Inc. at the current market price is $45,000,000.

Mario Pino, Founder and CEO of Mellon Research noted that, "We are excited to be a part of Equity Retirement and believe that this acquisition will bring value and will diversify the holdings of Mellon."

E. Pearl Asian, Founder and Chairman of Pearl Asian Mining commented, "We believe in Mellon Research vision and look forward to their growth."