PayChest, Inc. under the ticker symbol PYCT. Here is some more information that we have about PayChest, Inc.

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PayChest, Inc.
PayChest, Inc. operates as a marketing company, as well as developer of technology solutions. The company has exclusive worldwide rights to Flushaway, a patented range of absorbent biodegradable and flushable products. Its strategic partner companies market and distribute select products and services worldwide, which provide public awareness to conserve and preserve the world's limited resources. The company's affiliated companies develop integrated commerce processing solutions, including 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. PayChest, I...
Founded in 2000
Last $0.0001 USD
Change Today 0.00 / 0.00%
Volume 1.2M
As of 8:10 PM 11/24/15 All times are local (Market data is delayed by at least 15 minutes).

paychest inc (PYCT) Snapshot

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02/25/15 - $0.0010
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12/4/14 - $0.0001
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paychest inc (PYCT) Key Developments

PayChest, Inc. Arranges $500,000 Financing

PayChest, Inc. announced that the company has arranged a $500,000 non-dilutive financing with an accredited investor. Under the terms of the agreement, the financing in its current format would involve a five year loan at 10% simple interest with interest payments deferred, capital repayments deferred and profit share payments of up to 7% of EBITDA. PayChest expects to receive the first significant tranche of this phased financing within 2 weeks. This follows receipt of smaller amounts. The objective of this financing is to achieve product commercialization. Several important aspects make this financing good for the company: It is non-dilutive meaning it does not involve the issuance of shares; Interest payments and capital repayments are deferred to give the business breathing space to increase sales and recycle revenues (less profit share) allowing the business to gain sufficient mass before starting interest and capital repayments; Profit share is ring-fenced around the sanitary products business, both current and future sanitary products. Any other business PayChest enters would not be subject to profit share under this agreement. With this Agreement in place the company anticipates it will fund the supply of materials, custom machinery, marketing and, initially, receivables from sales.

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