The Black Keys
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*Most reserve share failure agreements state the authorized will be immediately increased. I betcha that has already happened and CEO forgot to let shareholders know....
Fact that the registrar delivered the entirety of the remaining authorized shares reserved - is telling that the warrant is still valid and Auctus is still a creditor.
Why with all the good news, explosive growth and expanding revenues; can’t @PCTL_ pay their bills?
@PCTL_ is not Laughing - Auctus has drained every single share available left in the authorized. Reserve share failure is a serious breach and event that has violated not only agreements but basic securities laws. How will all in Art get his free shares in Sept?
Auctus demands a trial by jury on all issues, claims and defenses so triable.
DEMAND FOR RELIEF
WHEREFORE, Auctus prays that the following relief and judgment be entered:
1. That judgment be entered in favor of Auctus and against PCT on all claims asserted by PCT in its Complaint.
2. That judgment be entered in favor of Auctus and against PCT on all claims asserted by Auctus in its Counterclaim.
3. That judgment be entered in favor of Auctus and against PCT under Count I of the Counterclaim of Auctus, declaring that the Settlement Agreement and Mutual Release did not resolve, release or otherwise dispose of any rights of Auctus under the Warrant and that Auctus is entitled to retain the 2,548,461 shares of PCT common stock it acquired pursuant to its exercise of rights under the Warrant.
4. That judgment be entered in favor of Auctus and against PCT under Count II of the Counterclaim of Auctus and that Auctus be compensated for its compensatory and consequential damages to be proven at trial.
5. That Auctus be awarded its attorneys' fees, costs and expenses.
6. That Auctus be awarded its costs and such other relief to which it may be entitled at law or in equity and to which this Court deems just and proper.
Respectfully submitted, AUCTUS FUND, LLC
By its attorneys:
Isl Charles R. Bennett Charles R. Bennett (BBO No. 037380) William R. Moorman (BBO No. 548593) MURPHY & KING, P.C.
28 State Street, Suite 3101
Boston, Mass. 02109
(617) 423-0400
cbennett((1)murphvking.com wmoorman(ii>1nurphyking.com
Dated: June 22, 2022
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169225598
@PCTL_ is not selling enough stock or fluids or services or anything to cover expenses. When is the notice of late filing going to be filed?
I hope your correct but it’s highly unlikely. More testing is all we will here from that @PCTL_ expense chain
Beyond the collapsed capital structure, It’s obvious @PCTL_ is exhausted and failing. Business Developments are nonexistent and marketing consists of child like chat room postings. Shareholders receive no clarity or reality regarding the implosion that is taking place.
@PCTL_ can’t obtain conventional financing or typical lines of credit. Usually this is because of inconsistency or irregularities in settling taxes.
Also - Considering the companies historic inability to timely repay and the current stagnant underperformance future financing is likely unavailable.
Revenue benchmarks were never achieved and are in a steady decline while expenses and inventory cost continue to compound.
+$217,000.oo a month burn rate.
-$300,000.oo a quarter revenues.
CEO was indicted for securities fraud by misleading investors?
@PCTL_ all in Art gets 1.5million free shares in about 60 days. FYI GRIECO ATM
@PCTL_ Nevada Business lic expired also june30,2017.
https://www.nevada-register.com/1120811-paradigm-convergence-technologies-corp
@PCTL_ Status Forfeited _ Dissolved Date 12/06/2018
ten million dollars LOL
https://businessfilings.sc.gov/BusinessFiling/Entity/Profile/6d0ad1c9-51f2-45b8-a286-6b032f99bc1f
@PCTL_ next catalyst will be notice of tax delinquency.
fwiw an old @PCTL_ filing you can find the CEO’s children as employees paid in shares... now a days the enriched are just listed as consultants - long history of shenanigans LOL
https://www.sec.gov/Archives/edgar/data/1084031/000107704806000318/iet_20906sb2-posam1.htm
@PCTL_ the companies disclosures revel primary source of revenue and loan settlement is stock. The disclosures also revel that there is not sufficient stock to satisfy current outstanding commitments. The company describes they have no lines of credit or conventional financing and revenues are insufficient to continue business as usual.
CEO’s past precedent revels he will just abandon this dumpster fire of a company at some point.
Sure, after the reverse split. Do you know the ratio?
PCTL_ admits to being a share selling scam in their own filings.
@PCTL_ fact; Management's plan is to raise additional funds in the form of debt or equity in order to continue to fund losses. RS / PCTLQ / 10,000,000,000 os
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ the CEO claimed the coronavirus pandemic provided explosive growth and a windfall of revenue that would enable this company to be cash flow positive.
If you have been financially harmed by this companies misrepresentation consider sharing your experience.
https://reportfraud.ftc.gov/#/
@PCTL_ .ooo1¢ free shares sitting on money made. LOL!!!!
Secrecy and Deceit are core culture values @PCTL_
@PCTL_ when the head of marketing and business development spends his days posting on stock forums you can bet the scenario is much worse than disclosed.
Hopefully SEC or S.C. Attorney General steps in to curb the insiders posting lies on social media in attempts to artificially inflate the value of @PCTL_
@PCTL_ CEO is reloading the family ATM with a reverse split. No way he is going to walk away without stealing another 30 million dollars or so of shareholders equity, AGAIN.
@PCTL_ The Reverse Split - will vaporize what little money if left to realize in common shareholder losses. CEO said on podcast he didn’t care about the stock...
@PCTL_ For the three months ended 31 March 2022, PCT Ltd revenues decreased 24% to $300K vs. loss of $718K.
Genuine Garbage Gary still forecasting millions in revenue?
Investors that purchased stock based on this CEO’s lies and chronic misleading are experiencing substantial losses and have been harmed. Consider reporting your experience to authorities.
https://www.sec.gov/whistleblower
Your correct, it’s probably actually 60 million now.
@PCTL_ Securities Fraud Much
&PCTL_ managements excuse will be a reverse split was necessary due to nefarious social media posters that participated in an organized attempt to devalue the stock. Mark This Post.
@PCTL_ fact; Management's plan is to raise additional funds in the form of debt or equity in order to continue to fund losses. RS / PCTLQ / 10,000,000,000 os
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ As of March 31, 2022, we had cash and cash equivalents of $23,618 and had a portion of short-term debt in default.
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ re revenues; Revenues decreased to $300,466, for the three-months ended March 31, 2022 (the ?2022 first quarter?) compared to $395,519 for the three-months ended March 31, 2021 (the ?2021 first quarter?).
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ Since inception we had not established an ongoing source of revenue sufficient to cover our operating costs. During the three-months ended March 31, 2022, we primarily relied upon advances and loans from stockholders and third parties to fund our operations.
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ if ever. We do not anticipate generating sufficient positive internal operating cash flow until such time as we can deliver our products to market and generate substantial revenues, which may take the next full year to fully realize, if ever.
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ The expected costs for the next twelve months include:... Management projects these costs to total approximately $2,580,000
No Shares Available
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ Reverse Split imminent. PCTL remains dependent upon additional financing to continue operations. The Company intends to raise additional financing through private placements of its common stock and note payable issuances.
The Company recorded net income of $468,049 for the three-months ended March 31, 2022 and accumulated losses of $29,130,944 from inception through March 31, 2022.
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ insurmountable debt; The Company has an accumulated deficit of $29,130,944 and has negative cash flows from operations. As of March 31, 2022, the Company had a working capital deficit of $4,209,210.
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
@PCTL_ facts regarding the exhausted capital structure.
The Company concluded that it only has sufficient shares to satisfy the conversion of some but not all of the outstanding convertible instruments.
The authorized shares of common stock consists of 1,000,000,000
The financial information set forth below ... is unaudited.
Reverse Split or Bankruptcy or Authorized Increase is eminent
https://fintel.io/doc/sec-pct-ltd-1119897-10q-2022-may-16-19128-6630
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Gary didn’t care about burning shareholders @PCTL he knew this was his last opportunity and he took it for all it was worth. Nigerians - LOL - who believed that?
I hoped not but w PCTL burn rate +$7,000.oo a day+\-
(monthly expenses of approximately $215,000)
I don’t know how else we survive ??? Maybe revenue kicks in like forecasted. Time will tell
Share Tank on Empty; Upon the issuance of the convertible notes payable described in Note 6, the Company concluded that it only has sufficient shares to satisfy the conversion of some but not all of the outstanding convertible notes, warrants and options.
https://sec.report/Document/0001554795-22-000189/
Here is your answer; On July 11, 2021, the Company incorporated two wholly-owned subsidiaries, Disruptive Oil and Gas Technologies Corp. (“Disruptive”) and Technologies Development Corp., both in the State of Nevada. On October 20, 2021, the Company sold a 53.75% interest in Disruptive in consideration for the assignment of certain patents to Disruptive and realized no gain or loss on the sale.
Cooking The Books
https://sec.report/Document/0001554795-22-000189/
@PCTL Mr Lewis, I’d like to introduce you to Mr. Grieco
It is rare to find a CEO who is incompetent on every level, said Marc Lewis, managing director of the IT division at Christian & Timbers, an executive search firm in Stamford, CT.
https://www.techrepublic.com/article/what-to-do-when-your-boss-is-incompetent/amp/