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Non-Tech : PYCT - Paychest, Inc.
PYCT 0.00Aug 30 4:00 PM EDT

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From: mortalmyth11/12/2012 11:05:56 PM
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Paychest insiders are thinking big, at least some of them.

The benefactor(s) at Rich Capital (who is that again?) now must be salivating at the thought of soon converting their preferreds into billions of commons at a huge DISCOUNT to the market price. Now there's no denying that IS thinking BIG!

As indicated on page 21 from 2011 Annual Report, Rich Capital evidently has the distinct privilege to "On or after September 1, 2012 the recipient can convert payments due into common shares at 75% of the market price at that time." Note: it must be nice to have that kind of clout with Paychest to demand and receive such favorable terms, eh? Real fair to shareholders who once again are getting ready to take it on the chin.

Anyway, another day in the life of Paychest.
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