Paychest Inc (PYCT)

[Anvil]

YES! Tom has said the spin off and stock dividend of the Company's Oregon subsidiary (PayChest Oregon) is still coming!
and if you read the odd numbers from 25,000,000 shares to 29,000,000,000 shares there not talking about PayChest (Arizona)
because PayChest (Arizona) SHARE STRUCTURE Issued & Outstanding: 27, 785, 264, 936 as of March 31, 2013

Question? Are you stating that the Oregon spin off company is raising their A/S from 25 million to 29 billion? If so, it is pretty evident what the plans are, that is, major dilution.

But JMO, the prospectus is quite clear, the Company is asking for shareholder approval for past share issuances above the allowed 25 million for the AZ corporation. So I think a re-read of the proxy may help.