Replies to post #111667 on Paychest Inc (PYCT)

[playingthegame]

PayChest Reiterates No Reverse Split

HONG KONG--(Marketwire - Feb 16, 2012) - PayChest, Inc. (PINKSHEETS: PYCT)

PayChest Inc. (the "Company") is providing an update to address the most common shareholder question and restate, that there is no reverse split planned in the foreseeable future.
The Company has consistently maintained this position, and stated this in many of its financial reports over the last four years. Reverse splits usually reduce shareholder value.
As announced on November 14, 2011, the Company is continuing to buy back shares and has recently repurchased a further 100 million common shares as part of the share buyback program (total 300 million) to reduce the shares outstanding. The shares are being repurchased at current market prices. The buyback program was planned to last three (3) months although Management may continue at the Company's discretion.
PayChest's transfer agent, Transfer Online, will be notified of the latest share buy back and the Company share information should be updated and reported in the next two weeks pending the receipt of certain paperwork. The change to the issued and outstanding shares will be posted on the company website www.paychest.com and www.pinksheets.com when this is complete.
The shares reported outstanding as of today are 27.68 billion shares, which at yesterday's close price of $0.0001, gives the Company a market capitalization of $2.7 million.