SOURCE: PayChest, Inc.

May 30, 2012 09:00 ET

PayChest Negotiating Purchase Order Financing

HONG KONG--(Marketwire - May 30, 2012) - PayChest, Inc. (PINKSHEETS: PYCT)

PayChest Inc. (the "Company") is in advanced negotiations with several known companies with the aim of securing purchase order financing.

Purchase order financing involves a third party finance company paying for production, materials and 'work in progress' in exchange for a standard fee. This form of financing is available where there is good product profitability and is based on the customer's ability to pay. Without the constraints imposed by its own cash pool, the Company can grow faster and focus on meeting market demand.

This financing tool also allows the Company to direct its own cash resources, and profit from product sales, into other business areas such as marketing and new product development.

Some customers will fund their purchase orders by letter of credit, such as the $1.2mn purchase order announced April 16, 2012.

The company is excited about upcoming events and expects a number of news releases during the summer months.

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.

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

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