HONG KONG, Aug. 4, 2011 /PRNewswire/ -- PayChest, Inc.
(PINKSHEETS: PYCT)
PayChest Inc. (the "Company") is pleased to provide an update on
upcoming commercial production of the Flushaway® brand of
flushable, biodegradable women's pads and liners.
Flushaway® is a product innovation that uses non-standard
materials and a non-standard production process, when compared to
non-flushable and non-biodegradable competitor products.
Working with Xinpro Manufacturing and its machine suppliers, the
Company developed a new manufacturing model from scratch. This
model has been implemented and includes specially developed, US
designed machinery that was built and purchased solely for the
production of the new design of Flushaway®. This new design
requires that certain materials are produced by Xinpro, to our
specification.
To reduce the production risks associated with this level of
innovation, the Company has chosen to undergo a more extensive
pilot production than the industry norm, and ensure manufacturing
standards are consistently met. To date the results of pilot
production have been very successful and have met the strict test
criteria set out by the Company.
As part of the pilot production, an extensive independent review
of Xinpro's manufacturing has been completed in the last week that
validates production methods and quality control processes. Minor
improvements to certain machinery and production processes were
recommended and are being implemented. Company representatives
continue to meet with Xinpro management and operators to review
recommended improvements, assess quality processes and test
materials.
The Company anticipates continuing pilot production for another
two to four weeks to validate these minor changes and ensure
stability of the production process. Once this is complete the
company plans to announce full scale commercial production of the
Flushaway® product line.
About PayChest (Arizona)
PayChest, a global marketing company and developer of technology
solutions and its strategic partner companies, market and
distribute select products and services worldwide, which provide an
increased public awareness to conserve and preserve the world's
limited resources.
About the proposed dividend of subsidiary PayChest (Oregon)
PayChest Oregon is preparing to be spun off from its
Arizona parent as a stock
dividend.
Safe Harbor Statement
The foregoing press release contains forward-looking statements.
For this purpose any statements contained in this press release
that are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, words
such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "continue," "can" or comparable terminology are
intended to identify forward-looking statements. These statements
by their nature involve substantial risks and uncertainties and
actual results may differ materially depending on a variety of
factors.
Contact: Paychest, Inc. ir@paychest.com
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Tom Hands:
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604-628-1984
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from overseas:
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+1-604-628-1984
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Tobie Oliver:
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1-800-624-7479
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from overseas:
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+1-714-274-7206
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SOURCE PayChest, Inc.