MyECheck Announces Share Buy Back and Retirement of One Billion Shares of Common Stock
February 13 2014 - 6:40PM
Marketwired
MyECheck Announces Share Buy Back and Retirement of One Billion
Shares of Common Stock
Company CEO Retires 1/3 of Personal Holdings and 20% of Total
Authorized Shares
EL DORADO HILLS, CA--(Marketwired - Feb 13, 2014) - MyECheck,
Inc. (OTC Pink: MYEC), a provider of payment data processing
services, announced today that it will retire 1,000,000,000 shares
of its common stock after a share buy back at par value from the
largest shareholder and Company Founder & CEO, Edward
Starrs. The total compensation for the buy back was $10,000,
which is the sum of 1,000,000,000 shares at the par value of
$0.00001.
The MyECheck Board of Directors has approved the retirement of
the one billion shares, which reduces the total number of issued
and outstanding shares by the same number.
MyECheck Board of Directors also authorized enhanced voting
rights for Preferred Series A Stock. Currently, Mr. Starrs is
the only holder of Series A Preferred Stock and holds one
share. The enhanced rights are intended to help maintain Mr.
Starrs voting control over the Company at this critical stage in
the Company's growth.
About MyECheck MyECheck Inc. is a leading electronic
transaction data processor and that provides an alternative payment
solution to paper checks, cards or ACH payments. MyECheck utilizes
a patented method of clearing check data for exceedingly fast,
secure and cost effective payments. As the leader in Check 21
solutions and check image processing for online and mobile
transaction, MyECheck provides merchants with financial access to
more customers and faster funds clearing than any other payment
method.
Please visit www.myecheck.com
Forward-looking statements in this release are made pursuant to
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including, without limitation, continued acceptance of mentioned
products, increased levels of competition, new products and
technological changes, dependence upon third-party suppliers,
intellectual property rights, and other risks detailed from time to
time in reports filed with the SEC.
Contact: Ed Starrs Investor Relations: ir@myecheck.com Sales:
info@myecheck.com