PayChest Negotiating Purchase Order Financing
30 May 2012 - 11:00PM
Marketwired
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: 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
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