PCT
LTD ADDS ADDITIONAL DISTRIBUTOR, ANNOUNCES
NEW HOSPITAL INSTALLATIONS, AND PROVIDES
SHAREHOLDER UPDATE
Little
River, SC -- June 5, 2020 -- InvestorsHub NewsWire
-- PCT LTD (OTC
Pink: PCTL) is pleased to announce
they have added another company
to their growing distributor network.
BOX
Bioscience (www.boxbioscience.com)
of Mount Pleasant, SC with operations in North Carolina
has recently been approved as a level
three
distributor.
"We were very excited to learn of this distributorship opportunity
because our business was seeking this type of high-quality source
for HOCl"
states BOX
Bioscience CEO, Ryan Cowell. "Now we've found it with
PCTL."
Cowell further expanded, "Our team arrived at the facilities in
Little River, SC and spent a good deal of time learning about
PCTL's equipment and fluid solutions.
When we left, we had secured our business
agreements
and
made arrangements
for the delivery of our high-volume equipment on that same
day."
"We're happy to
welcome BOX
Bioscience
into our growing distributor family," says
PCT
Corp. President Bill
Prince.
"Their
knowledge of this market space coupled with their current business
operations give them an advantage. As a level three
distributor, BOX
joins a
select, but growing group within our distributor
network."
The
company currently has
three levels of distributorships,
with
active entities operating at each level.
-
Level
1. A
level 1 distributorship is a reselling distributor. Companies at
this level purchase fluids from PCT Ltd and resell it under
the Hydrolyte®
name.
-
Level
2. A
distributor at this level requires a supplemental registration with
the US EPA. At this level, distributors are purchasing larger
volumes of fluids than level 1 distributors. Distributors at this
level may resell the product under the Hydrolyte® name or
white-label
the
product under their own brand.
-
Level
3. The
highest level, distributors at this stage are
similar to distributors at level 2; however, these companies are
producing distributors which generate fluids
for resale under their own brand. Distributors at this level also
typically enter
into
a
system and service contract for ongoing service of their
equipment.
At all
distributorship levels, companies undergo a vetting
and
training process. Specific
terms may be unique for each company; however, the typical
distributor agreement includes a distributor fee and a minimum
quantity requirement for sale and/or production of fluids.
Royalties, equipment service contracts, and other terms may apply
based on the distributor level.
"We are
continuing to expand our network," Bill Prince explains. "We see a
growing need across many regions and industries for our product and
that continues to generate a high level of interest from potential
distributors."
"We have
been firing on all cylinders," says PCTL CEO Gary Grieco. "With our
growing network of distributors, additional healthcare
installations, and growing interest in other sectors, we've been
able to diversify and grow our revenue streams dramatically these
past several months. Sales and revenue in Q2 have been strong on
all fronts and look poised to carry through the end of the quarter
and throughout the year."
The
company is also providing an update on additional hospital
installations in New York
City. Relating to
a
previous release, installation
of
PCTL's
Annihilyzer® Infection Control Systems commenced with an
installation last week (week of 5/24). An additional
installation is being performed
today, June
5th.
Both installations occurred within large
hospitals
owned by
a major NYC healthcare system and were performed through
PCTL's
primary healthcare distributor ACE Janitorial Services.
In
addition, the company continues efforts to finalize its
10-K annual report,
currently past due, in coordination with outside accountants
and its independent registered public accounting firm.
"We take
very seriously the importance of getting and remaining current with
regard to our filings," says CEO Gary Grieco. "We are also aware
of, and take very seriously, the potential effects on shareholder
value. We remain committed to our shareholders and thank them for
their patience. Rest assured that tremendous effort is being made
on all fronts to complete our annual report and to file it as
soon as it is
completed,
and
consent from the
auditors has been
obtained."
Additional
News and Corporate Updates:
PCTL would like to
warn its stockholders and potential investors that material
corporate information regarding sales, areas of business and other
corporate updates will only be made through press
releases or filings with the SEC. PCTL does not utilize social
media, chatrooms or other online sources to disclose material
information. The
public should only rely on official press releases and corporate
filings for accurate and up to date information regarding
PCTL.
About
PCT LTD:
PCT LTD ("PCTL")
focuses its business on acquiring, developing
and
providing sustainable, environmentally safe 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). Currently trading on OTC, "PCTL" aspires to and is actively
engaged in preparations for up-listing
its
common stock to a national securities exchange. 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.
Forward-Looking
Statements:
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: the
ability of PCTL's most recently added distributors to gain and
maintain certain saturation levels within their regions
and/or
markets;
PCTL's continued
installation of
equipment; subsequent
installations of PCT's Annihilyzer Infection Control
Systems; the availability of
audit, accounting and legal professionals during the pandemic and
the impact of COVID-19 on the timeframe of filing PCTL's 10-K and
2020 Q1 10-Q; PCTL's ability to
raise sufficient funds to satisfy its working capital requirements;
the ability of PCTL to execute its business plan; 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.
Gary Grieco, CEO and
Chairman, PCT LTD
(843) 390-7900
Office
(843) 390-2347
Fax
www.para-con.com
www.pctcorphealth.com
www.survivalyte.com