Business
British Columbia Securities Commission - Cease Trade Order
British Columbia Securities Commission - Cease Trade Order.
About this update from Paychest Inc
[{"type":"text","content":"2011 BCSECCOM 381Cease Trade OrderPayChest, Inc.Section 164 of the Securities Act, R.S.B.C. 1996, c. 418¶ 1\tPayChest, Inc. (PayChest) is an Arizona corporation that is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted on the U.S. Over-the-Counter Markets(BCI 51-509).¶ 2\tPayChest has not filed:1.\tinterim financial statements for the interim periods ended September 30, 2008, March 31, 2009, June 30, 2009, September 30, 2009, March 31, 2010, June 30, 2010, September 30, 2010, and March 31, 2011, as required under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations(NI 51-102) and section 5(b) of BCI 51-509,2.\tcomparative annual financial statements for its financial years ended December 31, 2008, December 31, 2009 and December 31, 2010, as required under Part 4 of NI 51-502 and section 5(b) of BCI 51-509,3.\tForm 51-102F1 Management's Discussion and Analysisfor the periods ended September 30, 2008, December 31, 2008, March 31, 2009, June 30, 2009, September 30, 2009, December 31, 2009, March 31, 2010, June 30, 2010, September 30, 2010, December 31, 2010, and March 31, 2011, as required under Part 5 of NI 51-102 and section 5(b) of BCI 51-509, 4.\tForm 51-102F2 Annual Information Formfor the years ended December 31, 2008, December 31, 2009 and December 31, 2010, as required under section 5(c) of BCI 51-509, 5.\tcopies of news releases and related material change reports disclosing material changes in PayChest’s affairs since September 15, 2008, including:(a)\tits change in dividend policy and status of dividends,(b)\tsignificant milestones in the development and production of its products,(c)\tits change of management,(d)\tagreement to settle judgment, and (e)\tDTC audit,as required under Part 7 of NI 51-102 and section 5(b) of BCI 51-509, and6.\tBC Form 51-509F2 Notice of Investor Relationsdisclosing its arrangements with Tom Hands and Sandfire Capital Corp., as required under section 8 of NI 51-509,(the required records).¶ 3\tUnder section 164(1) of the Act, the Executive Director orders that trading in the securities of PayChest cease until:1.\tPayChest files the required records completed in accordance with the Act and regulations, and2.\tthe Executive Director makes an order under section 164 of the Act revoking this ord...