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fourkids_9pets  Tuesday, 05/19/15 09:13:15 AMRe: AlanC post# 17270Post #  of17289 

MyECheck Recovers and Cancels 275,000,000 Fraudulent Shares 

FOLSOM, Calif., Mar 12, 2015 /PRNewswire/ -- MyECheck, Inc. (OTC PK: MYEC), the leader in electronic check solutions for Internet and mobilepayments, announced today that is has recovered 275,000,000 million shares of MyECheck ("MYEC" common stock that was issued fraudulently. The stock has been cancelled, thereby reducing the public float by approximately 13.1%. 

MyECheck reported on December 11, 2014 that it had filed a lawsuit against four companies in an attempt to recover 1.44 billion shares of MYEC stock that had been issued but not authorized by MyECheck. The lawsuit alleges that fraudulent documents were used to cause the issuance of 1.44 billion shares of the stock in several issuances during 2012 and 2013. 

One of the parties named in the lawsuit, Seven Mile Securities, as a result of the lawsuit, voluntarily agreed to cancel the 275,000,000 shares, and those shares have been cancelled by the companytransfer agent thereby reducing the total issued and outstanding shares of MyECheck by 275,000,000 shares. 

The company stated they also expect to recover and cancel the 280,000,000 fraudulently issued shares held by Titan Securities, also named in the lawsuit. 

MyECheck also seeks recovery of approximately 900,000,000 unauthorized shares believed sold byScottsdale Securi

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