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They're not giving themselves raises. They're obtaining more shares which gives them more voting power. That's not exactly a raise.
Gary Grieco's compensation (in terms of dollars) hasn't changed and was known.
Jody Read's compensation (in terms of dollars) hasn't changed and was known. His compensation is incentive-driven.
I mean... generally speaking I know this is going to sound naive but go with me here...
OTC is rife with pump and dump stocks. But you don't tend to see them with companies like PCTL which have tangible products currently being sold to customers.
When I say that I mean the pump and dumps where the COMPANY is actually the one doing the pumping and dumping. PCTL hasn't really done that. Hard for a company to pump and dump when they don't release any info for 5 months lol.
I feel ya.
Personally, in the name of transparency- I think it's going down more. I'm not buying in more for a couple days and see what it does. If it drops down to the low 2's or maybe even (gasp) the 1's, I'll likely buy back in and avg down.
I do still think this can be a solid long-term play with a lot of upside. And I agree the reward is still greater than the risk when you're dealing with a company that has a saleable product currently generating revenue and garnering interest from a lot of important places.
Sucks now but whattayagonnado
And that really is the whole story, I think. The sales are on a good trajectory and they're doing their best to keep the lights on and keep moving in that direction.
They're really not THAT far off from being in a much better position. They just need a few more sales, maybe a big one or two.
It's undeniably painful at the moment for shareholders. However, again and again, I'll keep saying it: this is a real company (not a shell). With a real product (not an app or an idea or a process, etc.. a tangible, physical product) that is generating real revenue through real sales for real customers. That alone elevates it over 90% of the OTC.
They're just in a bad spot right now and it's been a rough ride for all involved.
They need to keep the sales going and keep the lights on over the next 6 month to get that all done.
In short, it sucks now. The price dropped today. It'll probably drop tomorrow. Some people are going to look at this as a decent entry point. A better entry point is probably around the corner.
If you're in and not planning on leaving- basically assume that you're holding for at least another 3-6 months.
If you're jumping in now because the price has gone as low as it has- basically assume you're also holding for another 3-6 months now.
In my humblest of humbles.
Good luck to all.
PCTL finds itself in the unenviable position that many other companies have found themselves in. That is, they are not growing fast enough to outgrow their debt.
They are growing.. just not quickly enough.
The Ontario deal was going to take care of that. That didn't happen so they're doing this. It sucks but it's not unexpected.
PCTL still is a real company with a real product generating real sales and bringing in real revenue. That alone puts this in a class of its own among the OTC.
But for right now, yeah. It sucks.
It may be a bumpy ride lower. But there are still positives to be taken away from this and positive things to look forward to in the future with PCTL.
If they actually do have a plan to be profitable (or nearly profitable) by the end of the year... then all this will correct over the next couple months. And next year could be our target for some more positive developments.
What's going on with the oil and gas deal? That should be done, or nearly done now.
What's going on with the AG trial? That should be done or nearly done now.
Could be some good, positive news around the corner here if the two things above get done.
But yeah, it sucks right now.
Do what ya gotta do, y'all. Good luck to all.
I'd agree with all of this.
I’d agree with that
Saying "get a grip, they were vocal" is not an answer. So I'll ask again: in what ways were they vocal during this time? They released two very generic filings regarding the LOI. That's not being vocal. You're interpreting things incorrectly. Or, you're creating a fantasy of them being "very vocal" during that time when they weren't.
More people were talking about the stock during this time, sure. Is that what you're talking about? That's not on them. That's not them being vocal.
What do you mean by saying that they were vocal? And give a specific answer please.
With regard to debt, etc... all of this was known, or should have been known a long time ago if you did your DD. None of this was news. We all knew there was a ton of debt and that it was mounting. It's been public knowledge for a long time.
Jody hid his head in the sand to hide from the debt which is an Achilles heal which was already publicly known for months except for now he decided to hide from it somehow in a way that's not actually hiding because he's not really hiding and we know where he is?
Seriously, what ARE you even talking about?
I get that you're frustrated, man. But c'mon. Don't make stuff up.
In what universe was management vocal? They released one 8K announcing the LOI and one 8K announcing the extension.
Of course it is.
... it's just not going to happen whenever you decide you want to hear it.
Has it occurred to anyone that maybe, just maybe, the reason they haven't PRed anything is because........ there's nothing to PR?
It honestly is that easy.
Your expectations are not in sync with reality and the sooner you realize and accept this, the less stressed and happier you'll be.
Or, just keep whining and see how far that gets you.
It honestly is that easy.
Your expectations are not in sync with reality and the sooner you realize and accept this, the less stressed and happier you'll be.
Or, just keep whining and see how far that gets you.
It has been so stricken.
But I’m warning you, counselor
Considering the termination of the deal was mentioned in the same filing, I doubt it
Respectfully, I think you'll find trading a lot less stressful if you learn to accept a few things. One of them being that the level of information you would like to have and the level of information you think you are entitled to is not something that is going to happen for this or most stocks. Not on the big boards in most cases and definitely not on the OTC.
Yes, we'd all like more information. The company is not obligated to share it. And few companies, of any size, are going to give you the amount, frequency, or level of information you're asking about.
To be clear, I'm not questioning whether or not the new design could be better/beneficial/positive. Just looking for clarification on whether this is indeed two completely new clients or just a change in the system that is already in use by an existing client.
Important difference just in the terms of the present revenue generation.
IF the new design is installed into an existing client, that doesn't necessarily mean more revenue from that client. Also, it's not a "new" client. It's an existing one. So if the cost of the new system is more or less, it's more or less $$$ from an existing client. Not a new one.
A lot of people are concerned right now with the state of their financials. So it's a big difference to have 1 or 2 "new" clients. If only looking at that perspective.
The new design could be a big deal for sure from a different perspective, but the announcement doesn't necessarily indicate a new revenue stream from that client if they were already an existing client that was already paying.
Like, if I sell latex gloves to a hospital and they're my client and then I start selling a different kind of latex gloves to the same hospital which is already my client, I didn't sign a new client. I just changed what I was selling to the existing client. Doesn't necessarily mean a diff in revenue.
We don't know what the cost is for the new system. It could cost the hospital LESS so it'd be generating less revenue from the same client. Or, it could cost MORE than the old system.
We don't know yet. But it's noteworthy to know the difference because we've previously been told that their break even point was at about 20 systems so it matters if it's a new system going into a new hospital or just a different system going into an already existing client.
Was it TWO new hospitals on board though? Or was it one new hospital and the new design into an existing hospital? Probably an important difference. I read it that way, but could be wrong.
.50 is a helluva prediction and a helluva jump for a stock currently trading at around half a penny, my friend.
If we include the old deals/contracts the company is not anywhere near profitability already. They still have a ways to go. They can get there, but let's not make it out to be more than it is.
Merger not happening was always a possibility. It also seemed more likely to be the case the longer things went on.
But there's also some good info in the 8K. New hospital sale, and a new product developed. More developments are in the future as well, based on dates we happen to know.
Still a lot to like about PCTL longer term.... It just became a longer longer term now. Sucks but ultimately have to believe they didn't like the terms of the Ontario deal and didn't think it was a good move for them.
We'll see what happens.
Sucks. The price is gonna crash now as we all know but it is what it is. If you still like PCTL, maybe consider buying back in. The price aint going higher for right now.
Is what it is. Good luck to all.
Welp, this is gonna sting a bit.
Agreed.
I know that I have heard from a couple of people from the company. I can also guarantee at least two other posters on this board have received responses to emails as well. I can also almost guarantee that at least two people whom I trust have had phone conversations with people over at PCTL as well that I was not a part of.
In no cases has anything material been revealed. It has all been some version of "We're working hard. You can check our filings and official releases for more info."
That's basically it and that's all they should be saying.
Anyone who's said some version of: "I talked to Gary/Jody today and they told me something is definitely coming today and it's so awesome and there's sooo many PRs coming," etc... those are all lies.
Eventually PCTL will file something. Eventually they'll PR something. On that day, the people who predicted it will be correct. But it will not be because they received the heads up from someone at PCTL. It'll be because there are dozens of people predicting dates every single day and eventually someone was going to guess the right day.
Dunno. Cant' see the filing. Just that it was filed and the effective date is marked as today.
Would/could possibly be the designation of preferred shares to Gary and/or Jody I would guess?
Yeah. It's there.
Filed 08/14/2019
Effective date: 09/24/2019
Good movie.
You can look at the filings and easily see the component in question is a non critical component.
C’mon Godfather. Now you’re just being lazy about it
I didn’t say it WAS dissolved, just that the act of setting it up or shutting it down is extremely easy.
No, it’s not “free”... but for folks who are talking about spending $10 million on the deal I’m not so sure the couple hundred bucks it takes us a deal breaker one way or the other... worst case scenario they just write it off as a loss cone tax time.
I’m hoping the deal gets done too. I’m just not looking at the fact that they went through the very minimal effort to set up Ontario inc as anything more than just a quick step anyone would take in the process.
It was formed for this deal but keep in mind a lawyer can create a company on paper in like 20 mins. So there’s definitely a reason Ontario inc was formed- for the deal- but it’s not like it’s a hassle to do it. And if the deal doesn’t go through it takes even less time to dissolve the company
Krugerrand
Indeed
We're already at sub-penny. Chances of it going there are 100% right now lol.
Who knows what the holdup is/was. And if it does or doesn't go through we'll probably never know what the holdup was.
Let's just hope something good happens soon.
For everyone's sake.
Because Canada has nationalized healthcare so if you can get your tech to Canada and get it in one hospital you could potentially get it in all of them.
Which doesn't mean you can't continue to do things in the USA either. Odds are good if the merger with Ontario DID wind up going through then PCTL would have a Canadian entity which focuses on Canada and a US entity which focuses on the US.
And we already know there's a European entity which was set up earlier this year.
My man flippin dicks all day erry day
Ladies, please. You're BOTH pretty.
This is not the case. There is nothing special about today, September 20th that means we HAVE to have an 8K or a PR or all hope is lost.
Keep your emotions in check, please.
Either the company is doing well or they're not. Either they're working on something or they're not. Either a deal is in the works or it isn't. And no amount of hoping, wishing, or praying for an 8K on September 20th is going to change any of that. Today is not a deadline for anything and it makes no difference if something is released today, tomorrow, next week, or at any other time.
Arbitrary lines in the sand based on your personal frustrations are meaningless.
Relax, pal. If there's something to release, they'll release it. If there isn't, they won't.
It really, truly is that simple.
I think they had said that about 20 units was their break-even point.
From what I can tell based on their PRs they're probably a little less than halfway there, not including anything that may have occurred in the last few months that would not be included in the recent 10Q. Add to that, they have an oil and gas deal which could be done this week and the AG trial in October.... a few more hospitals here and there and all of a sudden their idea of being profitable or close to it by the end of the year doesn't sound so crazy.
I'd generally agree with that.
To be fair, there probably is a bank out there that WOULD give them a loan, but it would likely be so laden with interest that it'd just be adding to the pile.
They just need to keep the lights on long enough to ramp up sales and marketing efforts. If they can close the AG trial in October- that'd probably do it. That's a placement of a LOT of machines and would give them a lot of sales in Q4.