UPDATE OF PYCT ISSUED SHARE COUNT
Paychest has issued over 20,000,000,000 shares since the beginning of 2004 (or about 265% added dilution). As such, it's no wonder the share price plummeted and has resulted in an on-going No-Bid. Of course, Paychest not selling any products has helped greatly in continuing this malaise.
Per Paychest financials:
Issued & Outstanding on December 31, 2003 = 7,600,000,000 shares
Issued & Outstanding on March 31, 2012: === 27,785,264,936 shares
Since the TA is gagged. and since the DTC "Chill" was caused by insider conversions of preferred shares (per the company statement in 2Q2012 report), it is not currently known if the O/S and A/S has increased further since March. The upcoming 3Q2012 report may or may not reflect an increase as the legal DTC "Chill" issue is still trying to be resolved by Paychest. |
