SOURCE: PayChest Inc.

April 04, 2011 12:34 ET

PayChest Announces FDA Update With Flushaway®

HONG KONG--(Marketwire - April 4, 2011) -  PayChest, Inc. (PINKSHEETS: PYCT)

PayChest Inc. (the "Company") is pleased to announce an update to the news release on March 17 registering Flushaway® with the FDA in compliance with medical device registration regulations. Sources at the FDA confirmed the update of its search-able database during the first week of each month and shareholders should be able to find PayChest on the FDA database following the next monthly update on or around April 8, 2011.

http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfRL/rl.cfm

Flushaway® pads and liners do not require pre-approval by the FDA, unlike some medical devices. Registration with the FDA is a pre-requisite for Flushaway® sales in the US, and other countries that use the US Food and Drug Administration as a benchmark. 

In addition, the company has confirmed with FDA officials that a registration number will be granted in approximately 90 days but it should be noted that the product can be sold before this number is granted.

The Company is confident it will deliver a women's hygiene product line to the consumer that is of equal or better quality to the major companies in this marketplace (Proctor and Gamble, Kimberly-Clark and Johnson and Johnson) while having the added feature of being a flushable and biodegradable product at a comparable price. 

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 and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.

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 Information

  • 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