SOURCE: PayChest Inc.

April 05, 2012 11:35 ET

PayChest 2011 Annual Report Attorney Opinion Letter Filed

HONG KONG--(Marketwire - Apr 5, 2012) - Paychest, Inc. (PINKSHEETS: PYCT) (the "Company") is pleased to announce the filing of the Attorneys Opinion Letter supporting the Company's recently filed 2011 Annual Report.

The "Paychest, Inc. 2011 Annual Report" can be found on www.OTCMarkets.com and is compliant with the OTC Markets Alternative Reporting Standard Guidelines and provides adequate current information as defined in the Guidelines.

The filing of the 2011 Annual Report and Attorneys Opinion Letter is expected to lead to the Company being reported as "Pink," in the next few days, and eliminate the Yield sign that has been shown against the PYCT ticker symbol on OTCMarkets.com.

This marks a further improvement in the Company's reporting as intended and previously stated by Management, as the Company goes from Limited Information to Current under the Alternative Reporting Standard. Management believes this is the first time in recent history that the Company's reporting has been compliant with the OTC Markets Alternative Reporting Standard.

This progression builds on the Bloomberg information update as announced on Feb 24, 2012 as part of a broader approach to appeal to more international investors and shareholders.

Historical news releases on the Company can be found at http://www.paychest.com/news.htm.

"Pink" is a registered trademark of OTC Markets Group Inc.

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's filings with OTC Markets http://www.otcmarkets.com/stock/PYCT/financials.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

Contact Information

  • Contact:
    Paychest, Inc.
    ir@paychest.com

    Tom Hands : 1-416-619-5242
    from overseas: +1-416-619-5242

    Tobie Oliver : 1-800-624-7479
    from overseas: +1-714-274-7206