PayChest Appoints Transfer Online as Transfer Agent
July 13 2011 - 10:10AM
Marketwired
PayChest, Inc. (PINKSHEETS: PYCT)
PayChest Inc. (the "Company") is pleased to announce it has
signed the first of several contracts and made first payment to
Transfer Online as the first steps in moving its transfer agent
activity.
This is the first time the Company has engaged a transfer agent
that is regulated by the Securities & Exchange Commission and
is another step in the cleanup of Paychests' administration.
Following the completion of the recent DTC Stock Certificate
Audit, announced June 20, 2011, the Company has signed the contract
with Transfer Online in the confidence that its stock certificate
records have been validated. That audit reconciled common stock
certificates issued by the Company with the register of the
Depository Trust Company, and certificates on the Company's central
register that are held by bona fide shareholders.
The DTC audit is an important, and timely tool for the new
management team as it improves upon existing fiscal control and
record-keeping, in anticipation of the planned stock
dividend/spin-off.
Engaging Transfer Online immediately following the audit
provides a clear control point and solid foundation ready for the
upcoming share dividend and spin off of Paychest Oregon.
Transfer Online, Inc. (transferonline.com) is a well established
transfer agent service that is based in Portland, Oregon.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology
solutions and its strategic partner companies, market and
distribute select products and services worldwide, which provide an
increased public awareness to conserve and preserve the world's
limited resources.
About the proposed dividend of subsidiary PayChest (Oregon)
PayChest Oregon is preparing to be spun off from its Arizona
parent as a stock dividend.
Safe Harbor Statement
The foregoing press release contains forward-looking statements.
For this purpose any statements contained in this press release
that are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, words
such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "continue," "can" or comparable terminology are
intended to identify forward-looking statements. These statements
by their nature involve substantial risks and uncertainties and
actual results may differ materially depending on a variety of
factors.
Contact Paychest, Inc. ir@paychest.com Tom Hands 604-628-1984
from overseas: +1-604-628-1984 Tobie Oliver 1-800-624-7479 from
overseas: +1-714-274-7206
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