MyEcheck was a thriving business with strong traction in 2008/2009 during a recession. It had great solid contractsand was building a transparently successful business. Then on January 28th,2010 First Regional (MyEcheck's transaction partner) failed without public notice and was NOT one of the big banks that got bailed out! Citizens Bank took over with ABSOLUTELY NO obligation to honor business contracts. They had their plate full handling taking over a customer base of 8 banks and numerous loose ends and negotiating a contract with a small company was not on their agenda. In short, MyEcheck was hung out to dry. Several months later(August) Ed Starrs developed a relationship with Public Savings Bank and announced a signed contract. WELL GUESS WHAT! Public Savings Bank fails and isn't part of that bailout either. At that point if you looked up "Screwed, Blued, and Tattooed" in wikipedia...Ed's picture would appear! Tangent inc. was owed money fordebt by MyEcheck and knew the patents created by Ed Starrs were tied Contractually(non-competitive clause Ed signed) to MyECheck, so they decided taking enough shares in exchange for debt to obtain controlling interest was to their advantage. Ed Starrs stayed one step ahead of them and imposed a reverse split with 3 billion shares to him so they could not mathematically obtain controlling interest. Kudos to Ed for fixing their little red wagon! Since then, Ed has rebuilt his reputation with some of his former clients and established many new relationships to move forward. He signed with a 5 star rated bank in Bank of Kentucky(want pics? Ask Kbull) containing 33 branches. He has updated his software platform(3.0) inwhich MyEcheck has many more secure payment options. Now that Ed has established full control of his company, he felt comfortable retiring 1 billion shares for $10,000. Would you let 1 billion shares go for $10,000?? HELL NO!!! Kudos Ed!
Now...If anyone asks why you are invested in MyEcheck inc.(MYEC) again, just copy and paste this and say "here ya go" and continue enjoying your day. You also get take a number to stand in a long line at our 2nd annual shareholder meeting in Tahoe if a "special" someone shows up to be a party pooper. The line is for slapping our "special" guest upside the head. Btw...Ed will be the first in line and it may take him awhile before he's done, so bring a pot of coffee with you! B ry :^)
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