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Tuesday, October 19, 2021

Stock Spotlight: MyEcheck Inc (OTCMKTS:MYEC)

MyEcheck Inc (OTCMKTS:MYEC) is sitting just below $0.02 on excellent volume and continued big interest from speculators. The stock does have a history of big moves running from $0.0014 to highs over 8 cents last year.

In recent news MYEC said it has signed an agreement with NXR Global, a leading network marketing company and distributor of heath & wellness and entertainment products including Nutronix and VStream.

NXR will use MyECheck’s Electronic Check service to enable their customers and distributors to pay them with a fully electronic transfer from their checking account. Electronic checks are like paper checks but are originated electronically and never exist in paper form. They are processed and cleared like a paper check that has been imaged, they are not converted to ACH transfers, but instead clear over the Check 21 rails.

NXR stands at the forefront of product innovation. Committed to quality ingredients, extensive research, and unique formulas, NXR manufactures and distributes safe, effective, and innovative products that are a perfect blend of science and nature. Incorporating the very latest and most effective health and wellness science and technology in all products, NXR provides quality nutritional and skin care products that feature only premium, wholesome ingredients that support health and longevity.

MyEcheck Inc (OTCMKTS:MYEC) operates as a payment transaction data processor as well as a leading provider of electronic check image services to businesses, government and payment processors. The Company operates under license to US Patent 7,389,913, “Method and Apparatus for Online Check Processing” granted June 2008. This patented payment method is the fastest, most secure and most cost effective method of processing payments in the US, and it works with the most people, businesses and entities.

MYEC patented payment method is the fastest, safest and most cost effective way to process electronic payments from any person, business or organization. It offers businesses a comprehensive payment solution which is easily implemented into any website, mobile, electronic invoicing and bill payment application.

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The Company’s technology platform provides multiple benefits over traditional ACH based e-check systems. it provides for higher transaction clearing rates, faster fund clearing, fewer returned items, fewer customer support issues and less administrative burden and lower overall costs, thereby increasing efficiencies and profitability for their clients. Current methods require days to process, whereas MYEC allows for processing in 1 to 3 seconds.

With the recent release of MyECheck 3.0 MYEC is now processing payments in accounts in numerous different banking institutions such as Bank of America and Chase among others.

On October 17 MYEC announced an agreement to implement and deliver its electronic check services to national coffee vendor, Dad’s Roast Custom Coffee.

Under the agreement, MyECheck will process payments made by customers to Dad’s Roast Custom Coffee, helping to reduce costs, improve transaction success rates, clear funds faster, and lower the number of returned items. Founded in 2009 by Gillis Cure and his son Samuel Cure, Dad’s Roast Custom Coffee provides fresh custom coffee roasting at a competitive price with intuitive, creative online delivery. The coffee provider is dedicated to superior customer service, but with sales volumes steadily increasing, it needed a unique payment platform.

“We are pleased to work with MyECheck to provide our clients with one more payment option for purchasing coffee on our site,” said Gillis Cure, founder of Dad’s Roast Custom Coffee. “We are hoping this will enable business growth by reducing transaction fees while offering our coffee customers more flexibility in payments.

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Currently trading at a $73 million market valuation MYEC has little assets and growing short term debt; revenues are growing however with the Company announcing $952,156 in sales for 2014 up from just $89,496 for the same period the year before. MYEC has a loyal following that is patiently waiting for good things to come, nobody has forgotten the run this one made last year from subs to over 8 cents a share and many are betting it can do it again. We will be updating on MYEC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MYEC.

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Disclosure: we hold no position in MYEC either long or short and we have not been compensated for this article.

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