PayChest Updates $1.2 Million Purchase Order
HONG KONG / ACCESSWIRE / October 3rd, 2014 / Paychest, Inc. (PINKSHEETS: PYCT) (the "Company") is providing an update on the previously announced $1.2 million purchase order with its UK agent, David Shaw & Co.
Over recent months PayChest has held extensive meetings with Xinpro Manufacturing film division and sanitary products manufacturing to prepare for production. Significant progress has been made and the Company anticipates first containers of product will be ready for delivery to David Shaw & Co. in the first quarter of 2015.
The company will sell its Mibella(R) product range, a patented and trademarked brand of flushable and biodegradable women's sanitary pads and liners into the UK and the US. The Company has also received strong interest from distributors and wholesalers interested in selling Mibella(R) products in mainland Europe, Asia and Africa. Each container generates revenue of around US$50,000 for PayChest, depending on product mix.
Mibella(R) offers consumers more features for the same price as competing products from the market leaders. Competing products in this fast moving consumer goods market, produced by Proctor and Gamble, Kimberly-Clarke and Johnson & Johnson, are neither flushable nor biodegradable.
Consumer and retailer acceptance of our flushable and biodegradable product is already proven.
The Company’s UK Mibella(R) trademark (UK00002602822) is registered until 2021 and can be viewed at www.ipo.gov.uk. Mibella(R) trademarks in other jurisdictions are being prepared and/or filed.
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.
Contact:
Paychest, Inc.
ir@paychest.com
Tom Hands
USA 302-724-6944
from overseas: +1-302-724-6944
Canada 416-619-5242
from overseas: +1-416-619-5242
Historical news releases on the Company can be found at http://www.paychest.com/news.htm.
SOURCE: PayChest, Inc.