LITTLE RIVER, S.C.–(BUSINESS WIRE)–PCT LTD (OTC Pink: “PCTL”), today reported financial results for the fiscal year ended March 31, 2021.
Key Financial Highlights:
• Revenues for three months ended March 31, 2021, were $395,519, an increase of 45% from $272,812 in the same period of 2020.
• Net loss from operations for the three months ended March 31, 2021, was $648,154, as compared to a loss from continuing operations of $508,475 million in the same period of 2020.
Gary Grieco, PCTL’s Chairman and Chief Executive Officer stated, “Our strategy, as we entered into 2021, was to establish a distribution network that allowed us an opportunity to capitalize on the ongoing efforts and to ensure the availability of Hydrolyte®, a highly effective, US EPA registered hospital disinfectant. We will continue to offer resources and support to our distributors and other ‘partners’ to move the leasing and/or sale of equipment, sale of fluids, and revenues from licensing, higher.“
The company recently installed its newest generation of the Annihilyzer® Infection Control equipment in a North Carolina hospital. Since that installation, management has assessed the new generator’s design and productivity in a real-world environment, and it has exceeded internal expectations for reliability and consistency.
“As with all improved ideas, quality assurance is first assessed in the shop, but the final determination comes from within a functioning customer venue. We are encouraged with the performance of our newest Annihilyzer equipment and believe it can be a true leader in producing HOCl-based disinfectant and cleaner for all types of environments and surfaces. We also believe our distributors, clients, and customers, will all be impressed with the new equipment’s capabilities. Currently we have three more of our newest models being assessed during the rigorous quality assurance process we put them through, and we are building more of our newest generation of Annihilyzer Infection Control Systems in order to fulfill the orders that are in our sales pipeline,” concluded Mr. Grieco.
Finally, PCTL is pleased to be working directly with PCT (Europe) LTD’s new CEO, Kevin Gray, with the goal of solidifying optimal plans and agreements to more quickly and efficiently meet the needs of both companies.
About PCT LTD:
PCT LTD (“PCTL”) focuses its business on acquiring, developing, and providing sustainable, environmentally responsible disinfecting, cleaning and tracking technologies. The Company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
This press release contains “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL’s ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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