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PCTL was a little company(OTC) trying to get their product (Annihilyzer) to the market. If you look at their old filings they were in good shape financially and had a small amount of shares. They were not producing much revenues in the beginning and the debt started increasing, they started selling shares to support operations. The shares price declined, the debt increased, more shares were issued and finally last fall they converted a boatload of shares to reduce the debt. PCTL probably was in financial distress and along came the demand for HOCI due to the pandemic that allowed them some financial relief. Yes PCTL has had late financial reports before however one must considered what they were trying to do in the mist of these late reports.
SURVIVE!
They not only survived, they are starting to grow and have bright future ahead of them.
Hopefully this will be the last late report and as I have stated in many previous posts, this is the most comprehensive 10K for PCTL. Although it is comprehensive I did not expect it to take this long.
The stock price probably would almost certainly drop had the 10K been released within in a reasonable time of its due date even if it was on time or late. However with all the drama surrounding the 10K being extremely late it is going to be very interesting how the stock price responds. One thing for certain is that if if does drop many shareholders in the know will be on the sidelines to scoop them reduced priced shares because they know what they own.
Pure and clean made $700,000 in March 2020:
In 2018, Pure & Clean’s annual revenue was $350,000. Amid the COVID-19 pandemic, you say sales of your natural disinfectants have surged in the last month. What were March sales?
It was equal to [total] 2019 sales, which were more than double 2018 sales. It’s kind of an interesting feeling in this time of so many people hurting with small businesses and even large businesses. We’re a great solution for what’s going on, for protecting yourself and then also for disinfecting surfaces and areas. Scaling to that is obviously something that you can’t prepare for and we obviously weren’t ready for."
http://sbj.staging2.communityq.com/stories/a-conversation-with-trent-freeman,68592
PCTL may be late with the 10K however they have been on time with delivering results in their business mission:
PCTL's successful launch of the Annihilyzer System 18 months ago leads to a system in 22% of hospitals in New York City.
PCTL main focus is the Annihilyzer not HOCI. They did shift focus to HOCI as the pandemic situation afforded them an opportunity to help in fight against the virus and get their financial situation in order. Yes there are multi billion dollar companies that make HOCI for different uses. In any industry you have different players for different markets. So even if one of these large companies can make HOCI cheaper, it probably is not beneficial for them to set up a supply chain to sell it to anyone they can. The amount of HOCI PCTL and its distributors produce is peanuts compared to some of these
companies.
Global hypochlorous acid market share is fragmented as market consist of several small, medium and major market players. Companies such as Kemin Industries, BASF, Lenntech, Arkema S.A., Nouryon, Lonza, Kuehne Company, Tosoh Corporation, Aditya Birla Chemicals, Surpass Chemical Company, Ultrapure HOCL, AGC Chemicals, Westlake Chemical Corporation, Tianjin Ruifuxin Chemical, and Westlake Chemical Corporation are key players in the market.
https://www.gminsights.com/industry-analysis/hypochlorous-acid-market
Sadler Gibb Certified Public Accountants 2455 East Parleys Way, Suite 320 Salt Lake City, UT 84109
801.783.2950
HOCI is made at different ppm depending on its use. Basically the higher the ppm the lower the shelf life. Some at made at such a low ppm that their shelf life is a year or more. Unless you have the tools to measure the ph levels and know the proper dilution for what you want to us it for it is best to dump high ppm HOCI after it expires.
It is not known by the average person. If you ask the next 3 people you run into if they have heard of HOCI, I would be shocked if any of them said yes.
Have you heard of HOCI before investing in this stock.
How many investors here do you think herd of HOCI before investing in this stock?
Great article!
The same could be said for the United States as well as far as massive use in different areas. Although it is approved for use, HOCI is not a well known solution. There should be at least 2 electrostatic sprayers and HOCI product in every school in America. The power of the disinfectant to perform and without any hazardous concerns would give parents a peace of mind. Also it would kill off a lot more germs that is lingering around.
GoldiS,
Hypochlorous Acid has different shelf life depending on the ppm it was processed at. Basically the higher the ppm the lower the shelf life.
At low concentrations of 100 ppm, HOCL is a no-rinse food contact surface sanitizer that can be used safely in food service or daycare facilities. At higher dilutions, it kills the cold and flu, as well as C.diff spores, HIV and hepatitis. HOCL’s cost is low and, when coming from an on-site generator, it is sustainable, environmentally conscious, helps stop solid waste and cut pollution.
150 ppm HOCl
pure&clean™ Hand Cleanser uses a proprietary stable solution of 150 ppm electrolyzed Hypochlorous Acid (HOCl).
Hand Cleanser is an FDA cleared medical device that is great for managing all intact skin.
200 ppm HOCl
What is special about Pure&Clean Surface Cleanser? It's safe and effective. Traditional products require you choose an eco-friendly option that doesn't work well or choose a product with harsh chemicals that pose dangers to our health. Pure&Clean Surface Cleanser is the answer!
460 ppm HOCl
What is Pure & Clean Disinfectant/Sanitizer?
Pure & Clean Disinfectant/Sanitizer is made with all-natural ingredients; contains no harsh chemicals, antibiotics or alcohol; is benign to humans, animals, and the environment; and does not require the use of personal protective equipment or other safety precautions.
Effective Against SARS-CoV-2 (the virus that causes COVID-19)
EPA-Registered (Reg. No. 92108-1-88098)
Hypochlorous Acid (460 ppm HOCI)
Ready-To-Use Hospital Disinfectant
https://pureandclean.us/disinfectant-sanitizer/
Where is the PCTL’s 10K?
It is in the works.
What did PCTL do in 2019?
From a numbers standpoint PCTL 2019 10K is not so good.
From a business mission standpoint 2019 was the launching pad to increase their footprint of their flagship product, the Annihilyzer mostly into a prime US market, New York City. They also sold large volume Hydrolyte® systems to the food industry and the oil and gas industry. The company expanded from having 3 systems installed in 2 hospitals by November 2018 to 10 systems installed in 7 hospitals by December 2019.
PCT LTD Executes New Master Service Agreement for Installation of Annihilyzer® Hospital Infection Control System at Carson Tahoe Regional Medical Center LITTLE RIVER, S.C., January 10, 2019
PCT LTD enters into Manufacturers Representative Agreement for Sales of Annihilyzer® Infection Control Systems in the Ohio Valley Region. LITTLE RIVER, SC February 7, 2019
PCT LTD Receives Additional Purchase Order for Two Large Volume Hydrolyte® Systems from Existing Food Processing Customer LITTLE RIVER, SC, February 12, 2019
PCT LTD Installs a Large Volume Hydrolyte® System with Option Agreement for 4 additional LVH Systems with Oil & Gas Industry Customer LITTLE RIVER, SC, February 25, 2019
PCT LTD Announces New Purchase Order as the Result of a Successful Trial of Annihilyzer® Infection Control Systems LITTLE RIVER, S.C., May 6, 2019
PCT LTD Announces Additional Hospital Installation of Annihilyzer® Infection Control System LITTLE RIVER, S.C., October 7, 2019
PCT LTD Deploys Initial Annihilyzer® Infection Control System to the United Kingdom LITTLE RIVER, S.C., October 22, 2019
PCT LTD Continues to Expand By Signing Agreement with SUNY Downstate Medical Center Worth over $500,000 LITTLE RIVER, S.C., October 31, 201
PCT LTD Continues to Expand by Signing Long-Term Agreement with ACE LITTLE RIVER, S.C., October 31, 2019
PCT LTD Issues Company Update and Announcement of Collaborative Agreement for Oil & Gas and Cannabis Applications LITTLE RIVER, S.C., December 16, 2019
While my initial thoughts were why is the 10K taking so long as the company isn’t making much money and not much is going on.
After taking a closer look there was a lot going on in 2019 so it probably is the most complicated audit PCTL had to face. Also all of the stock conversions to deal with as well it is not being done on-site.
That is PCTL Press release activity for the year. That is the good stuff along with the fact they increased revenues by a large percentage that should raise some eyebrows.
Now for the tough processes emerging companies go through:
They lost money.
They sold a boatload of stock to reduce debt.
That is the past and will soon be forgotten as we look to the present and future.
EPA takes action to help Americans disinfect indoor spaces efficiently and effectively
WASHINGTON (July 7, 2020) — Today, the U.S. Environmental Protection Agency (EPA) is taking action to ensure that Americans are able to disinfect public spaces effectively and efficiently to control SARS-CoV-2, the novel coronavirus that causes COVID-19. The newly released guidance outlines what information registrants need to submit in order to expedite the review of requests to add electrostatic sprayer application directions to disinfectant product labels for use against SARS-CoV-2.
“Cleaning and disinfecting surfaces continues to be an effective way to reduce the spread of the virus,” said EPA Administrator Andrew Wheeler. “With this guidance, EPA is ensuring offices, schools, and local governments have access to as many effective and approved surface disinfectant products as possible—including those designed to disinfect large indoor spaces.”
Electrostatic spraying has drawn increased interest through the public health emergency because of the need to disinfect large indoor spaces (e.g., schools, offices, businesses) or areas with many surfaces. Unlike conventional spraying methods, electrostatic sprayers apply a positive charge to liquid disinfectants as they pass through the nozzle. The positively charged disinfectant is attracted to negatively charged surfaces, which allows for efficient coating of hard nonporous surfaces.
EPA’s new guidance covers requests to add electrostatic spraying directions to both new and currently registered disinfectant products—including those on EPA's List N: Disinfectants for Use Against SARS-CoV-2 —that require review under Pesticide Registration Improvement Act (PRIA). Today’s guidance builds on EPA’s previously announced expedited review of certain submissions for products intended for use against SARS-CoV-2.
When using these products, always follow the directions and safety information on the label. A disinfectant product’s safety and effectiveness may change based on how it is used. If a product’s label does not include disinfection directions for electrostatic spraying, EPA has not reviewed any data on whether the product is safe and effective when used by this method.
EPA and the Centers for Disease Control and Prevention recently released updated guidance to help facility operators and families properly clean and disinfect spaces. The guidance provides step-by-step instructions for public spaces, workplaces, businesses, schools, and homes. EPA has compiled a list of disinfectant products, including ready-to-use sprays, concentrates, and wipes, that can be used against COVID-19.
For information on EPA’s efforts to help address the novel coronavirus, visit: https://www.epa.gov/coronavirus.
https://www.epa.gov/newsreleases/epa-takes-action-help-americans-disinfect-indoor-spaces-efficiently-and-effectively
I posted the article because it showed the government continues to go after companies that make false claims because of covid 19. The title was very specific to what the article was about. Whose fluids the said company was using has nothing to do with the article nor is it relevant. The company made false claims, got caught and got jacked up by the Feds.
Coronavirus pandemic giving rise to new disinfection business in Henderson
In recent months, many businesses have been forced to close, some temporarily, some permanently.
But the coronavirus outbreak has cracked the door open for some new businesses. One new Henderson-based enterprise owes its very creation to the pandemic: Pure Spaces of Kentucky, a disinfection service.
New types of companies, like new ideas, can become successful if they have an effective elevator speech — the ability to adequately be described in 30 or 40 seconds. Pure Spaces’ elevator speech might sound like this:
“Our company provides a disinfection service for restaurants, offices, manufacturing plants, churches, schools and other clients who need their customers and employees to feel safe.
“Our disinfectant is so non-toxic to humans that some dermatologists use it to treat acne, and your white blood cells produce it to fight infection. But it kills coronavirus, staph, bacteria and other pathogens instantaneously or within seconds.
“And when we treat a space with our electrostatic sprayer, our disinfectant is given an electrical charge that causes it to seek out surfaces to cling to, helping get it to even hard-to-reach surfaces.”
Bill Fidler — a Henderson resident who is a former president and CEO of Brenntag North America, a major chemical distributor with a 300-employee operation here — said a professional acquaintance called his attention to the possible business opportunity of starting an electrostatic disinfection spraying service in the midst of the COVID-19 pandemic.
Fidler pursued the prospect, found it promising and, with two partners, formed Pure Spaces of Kentucky, one of several regional Pure Spaces operations around the U.S.
At the core of the business is the use of a liquid solution, trade-named PureSan, with a tiny amount of a single active ingredient that contains a chlorine ion.
Folks for generations have been familiar with the disinfecting qualities of chlorine bleach — the stuff sold in gallon jugs in the laundry detergent aisles of supermarkets.
Chlorine “is the single-most effective terminal disinfectant,” according to Fidler.
But Pure Spaces’ Pure San is at best a country cousin to household chlorine bleach.
The active ingredient in products such as the famous Clorox bleach brand is a chemical called sodium hypochlorite. Clorox won’t disclose the exact concentration of sodium hypochlorite is in its product, saying it’s a trade secret, but reports that it’s somewhere between 5 percent and 10 percent by weight.
While widely used, chlorine bleach should be used with caution; according to the OSHA-required chemical safety data sheet for Clorox, it can cause “severe skin burns” and “serious eye damage.” If ingested, a poison control center or doctor should be promptly contacted, according to the Clorox Co.
By contrast, PureSan’s active ingredient is called hypochlorous acid, although in minute amounts — just 0.02 percent. The rest is pure water.
While hypochlorous acid sounds ominous, the safety data sheet for PureSan indicates otherwise.
If PureSan is ingested, the first aid advice is to drink a lot of water; if a large amount — one quart or more — of PureSan is swallowed, the user is advised that they might develop a stomach ache, vomiting or diarrhea, but there’s no mention of a need to call a poison control center. If some gets into someone’s eye, they might experience “irritation;” rinsing it out with water is advised.
Yet, Fidler said PureSan is 100 times more effective as a sanitizer than bleach.
The chemical solution has some other attractive qualities.
Fidler said it’s not corrosive, so it doesn’t damage equipment.
Unlike some disinfectants, PureSan is made without salt, so it doesn’t leave water marks on glass surfaces such as windows.
When sprayed in a room with an electrostatic sprayer, the droplets of the disinfectant are given a positive electrical charge, giving it a sort of magnetic attraction to surfaces such as tabletops, door handles and other objects.
And while not exactly a household phrase, electrostatic disinfecting is an established technology; even Clorox offers an electrostatic spraying system, called Clorox Total 360.
Before committing to the venture, Fidler sought feedback from prospective customers. Among those he met with was Casey Todd, a Henderson native who has managed successful restaurants in three cities and now owns Hometown Roots restaurant here.
Todd was intrigued. “I know guests are going to want to feel safe when they come back in,” he said. “We’re in a time that’s very uncertain. Whatever we can do to help out is important.”
But Todd, who reopened Hometown Roots and the adjacent Roast Coffee Bar last Wednesday, wasn’t merely interested in becoming a customer; he signed on as a partner in Pure Spaces of Henderson along with Fidler’s son-in-law, David Garber.
Todd turned to Facebook on Sunday to report that Roots as well as Roast will be disinfected twice daily with an electrostatic sprayer — it takes about 20 minutes to apply the sanitizer to the 6,000-square-foot spaces, including dining rooms and kitchen — in addition to daylong treatment of high-touch surfaces, such as door handles and lavatories as well as dining tables.
A downside of hypochlorous acid is that it has “a very, very short shelf life,” Fidler said. Heat, sunlight, motion and time all degrade the solution. It’s not the sort of solution that can be produced at a central manufacturing plant and shipped around the country. As a practical matter, it must be produced locally.
So Pure Spaces has acquired and installed a water electrolyzing machine — called a generator — from Viking Pure Solutions of Port Orange, Fla., to produce the disinfectants.
The machine, installed in the basement beneath Hometown Roots in Downtown Henderson — electrically separates salt in softened water into its two main ions, sodium and chloride. Those two ions are then mixed into separate streams of fresh water, producing two solutions: hypochlorous acid (which Viking calls PureSan) and a weak solution of sodium hydroxide (called PureClean).
Pure Spaces envisions that a restaurant might have its applicators come each day, either before opening or after closing, to disinfectant the entire facility. (Other customers — a manufacturing plant or office, for example — might use it less frequently, perhaps once a week.)
https://www.thegleaner.com/story/news/2020/06/09/coronavirus-pandemic-giving-rise-new-disinfection-business-henderson/5325486002/
What are you talking about?
FDA sends warning letter to company over Covid-19 skin spray claims
The US Food and Drug Administration sent a warning letter to Curativa Bay Corporation over its claims one of its products could protect against the novel coronavirus.
The FDA said Friday the Clearwater, Florida, based company advertised its Advanced Hypochlorous Skin Spray on its Facebook page as something that could “provide a good extra line of protection against many things that we all fear today… #Kill bacteria and viruses… #Coronavirus.”
The spray is a topical hypochlorous acid, an inorganic substance that can kill bacteria, but to sell a product in the US as a prevention or treatment for disease requires scientific evidence and well-controlled human clinical studies. The FDA says there is no such support.
The FDA said the company needs to take corrective actions immediately to ensure that it is not misleadingly representing its products as safe and effective for a Covid-19 related use, or it will face legal action.
The FDA also said it was going to include the company on its list of firms that have received these warning letters for selling Covid-19-related products that are in violation of regulations. If the company takes corrective action, the FDA said it will remove it from its list.
https://www.cnn.com/world/live-news/coronavirus-pandemic-06-26-20-intl/index.html
I don't know what has the 10K taking so long or if there is some conflict between them and the company. The auditors have been getting other companies financials out. They have been with us for 3 audits so they have a baseline of what they are dealing with. As I have mentioned before this is out most comprehensive audit although it has many of the same line items whether it be sale of stock or sale of equipment.
Sadler must be capable auditors to some extent. They were hired on March 9, 2020 by a private company called IONIQ Sciences (formally Prolung) to do a 10K for 2019 that was filed with the SEC on July 15, 2020. Something fishy is going on in Utah.
https://www.sec.gov/Archives/edgar/data/1541884/000149315220003671/form8-k.htm
When PCTL hires a new audit or dismiss one an 8K must be done within 4 days of event.
Where is the PCTL’s 10K?
It is in the works.
What did PCTL do in 2019?
PCT LTD Executes New Master Service Agreement for Installation of Annihilyzer® Hospital Infection Control System at Carson Tahoe Regional Medical Center LITTLE RIVER, S.C., January 10, 2019
PCT LTD enters into Manufacturers Representative Agreement for Sales of Annihilyzer® Infection Control Systems in the Ohio Valley Region. LITTLE RIVER, SC February 7, 2019
PCT LTD Receives Additional Purchase Order for Two Large Volume Hydrolyte® Systems from Existing Food Processing Customer LITTLE RIVER, SC, February 12, 2019
PCT LTD Installs a Large Volume Hydrolyte® System with Option Agreement for 4 additional LVH Systems with Oil & Gas Industry Customer LITTLE RIVER, SC, February 25, 2019
PCT LTD Announces New Purchase Order as the Result of a Successful Trial of Annihilyzer® Infection Control Systems LITTLE RIVER, S.C., May 6, 2019
PCT LTD Announces Additional Hospital Installation of Annihilyzer® Infection Control System LITTLE RIVER, S.C., October 7, 2019
PCT LTD Deploys Initial Annihilyzer® Infection Control System to the United Kingdom LITTLE RIVER, S.C., October 22, 2019
PCT LTD Continues to Expand By Signing Agreement with SUNY Downstate Medical Center Worth over $500,000 LITTLE RIVER, S.C., October 31, 201
PCT LTD Continues to Expand by Signing Long-Term Agreement with ACE LITTLE RIVER, S.C., October 31, 2019
PCT LTD Issues Company Update and Announcement of Collaborative Agreement for Oil & Gas and Cannabis Applications LITTLE RIVER, S.C., December 16, 2019
While my initial thoughts were why is the 10K taking so long as the company isn’t making much money and not much is going on.
After taking a closer look there was a lot going on in 2019 so it probably is the most complicated audit PCTL had to face. Also all of the stock conversions to deal with as well is it is not being done on-site.
That is PCTL Press release activity for the year. That is the good stuff along with the fact they increased revenues by a large percentage that should raise some eyebrows.
Now for the tough processes emerging companies go through:
They lost money.
They sold a boatload of stock to reduce debt.
That is the past and will soon be forgotten as we look to the present and future.
What could really blow the roof off of PCTL is if Hypochlorus Acid become a household name. While we don't own the HOCI, we are one of the few public companies that provides it. I have seen many local stories, but no national ones either paper, internet or tv. I believe it is going to happen eventually as the Covid situation continues. As effective as HOCI is people don't like change in general however if the story gets out there with Covid it would take less convincing.
Is going to happen maybe sooner than later with the intentions of opening the schools back up and the latest surge in cases.
Is it 10K golden liquid Wednesday?
Great example and I'm sure there are many more like that. I sent that station an email. Hopefully they do a follow up that there is an alternative to using harsh chemicals.
HOCI is definitely effective against coronavirus and other pathogens.
I was watching a exchange between parents and a school superintendent and one parent wanted to know who is going to wipe down desks and high touch areas. The superintendent didn't have a good answer and I don't fault him as the plan is fluid in reopening schools in the fall.
What I do know that HOCI could be used across the nation with electrostatic sprayers in many schools and work places. It is not going to solve the pandemic situation however it could help with sanitizing/disinfecting and give people/parents a piece of mind. Also with the flu season coming up it could help with that also.
It is cost effective, non hazardous and can be made widely available.
This is not so much about PCTL making money this is about providing a solution to a real concern. The virus is spread primarily people to people however the possibility exists it could spread by hard surface areas.
Why HOCI is used widely is most people don't know about. I sent it email to different newspapers and TV stations across the nation to inform them of HOCI.
Certainly there are some businesses and school districts already using it however I hope more join in.
A few months ago I ran across a daycare that had been using it for over 4 years.
Hopefully HOCI makes national news soon so people can have an effective, reasonably price and non hazardous solution to the pandemic war.
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subject: Hypochlorous Acid
This list is at least a month old and there have been more installs since it was created.
HOCI the gift that keeps giving.
Hypochlorous Acid was the catalyst that gave PCTL a financial boost that relieved the company of the burden of a continuous debt load. It also enabled them to prepare for a build out of their flagship product, the Annihilyzer/Large Volume Hydrolyte System for orders they received due to Covid-19 and eventually the UK and beyond.
So just what are the installation numbers of PCTL’s Annihilyzer/Large Hydrolyte Systems?
I really don’t know however below is what I do know:
FACTS not fiction
At least 36 Hospitals/Distributors using The PCTL Annihilyzer/Large Volume Hydrolyte Systems!
Hospitals (25)
Johnston UNC Health Care Hospital
Carson Tahoe Regional Medical Center
New York-Presbyterian?
NewYork-Presbyterian Morgan Stanley Children's Hospital
NewYork-Presbyterian / Weill Cornell Medical Center
NewYork-Presbyterian Lower Manhattan Hospital
(NewYork-Presbyterian has another 5 hospitals in its network)
Yale New Haven Medical Center
UMass Medical Center
Coler/Goldwater Hospital
Metropolitan Hospital
Mount Sinai South Nassau Medical Center
Bellevue Hospital
NYU Langone
Lincoln hospital
Westchester County Medical Center
Harlem Hospital
Wyckoff Hospital
SUNY Downstate Medical Center
Coney Island Hospital
Kings county Medical Center
Queens Hospital
Methodist Hospital
Jacobi Medical Center
UK North Tees and Hartlepool NHS Foundation Trust
UK ?
Level 3 Distributors or Large Volume Hydrolyte systems users (11):
4 systems to a Food Processing Customer
1 System Pure and Clean
1 System to Puerto Rico
1+ System to Ace Janitorial
2 Systems H2S Safe Treat Inc of Ada, OK
2 Systems BioBlasting LLC of Egg Harbor Township, New Jersey
1 System BOX Bioscience of Mount Pleasant, SC
1 System Colorado Springs, CO
This list is at least a month old and there have been more installs since it was created.
HOCI the gift that keeps giving.
Hypochlorous Acid was the catalyst that gave PCTL a financial boost that relieved the company of the burden of a continuous debt load. It also enabled them to prepare for a build out of their flagship product, the Annihilyzer/Large Volume Hydrolyte System for orders they received due to Covid-19 and eventually the UK and beyond.
So just what are the installation numbers of PCTL’s Annihilyzer/Large Hydrolyte Systems?
I really don’t know however below is what I do know:
FACTS not fiction
At least 36 Hospitals/Distributors using The PCTL Annihilyzer/Large Volume Hydrolyte Systems!
Hospitals (25)
Johnston UNC Health Care Hospital
Carson Tahoe Regional Medical Center
New York-Presbyterian?
NewYork-Presbyterian Morgan Stanley Children's Hospital
NewYork-Presbyterian / Weill Cornell Medical Center
NewYork-Presbyterian Lower Manhattan Hospital
(NewYork-Presbyterian has another 5 hospitals in its network)
Yale New Haven Medical Center
UMass Medical Center
Coler/Goldwater Hospital
Metropolitan Hospital
Mount Sinai South Nassau Medical Center
Bellevue Hospital
NYU Langone
Lincoln hospital
Westchester County Medical Center
Harlem Hospital
Wyckoff Hospital
SUNY Downstate Medical Center
Coney Island Hospital
Kings county Medical Center
Queens Hospital
Methodist Hospital
Jacobi Medical Center
UK North Tees and Hartlepool NHS Foundation Trust
UK ?
Level 3 Distributors or Large Volume Hydrolyte systems users (11):
4 systems to a Food Processing Customer
1 System Pure and Clean
1 System to Puerto Rico
1+ System to Ace Janitorial
2 Systems H2S Safe Treat Inc of Ada, OK
2 Systems BioBlasting LLC of Egg Harbor Township, New Jersey
1 System BOX Bioscience of Mount Pleasant, SC
1 System Colorado Springs, CO
Germinator is not a competitor.
They are using PCTL's HOCI,
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157023919
That is my thoughts too. These franchises must be using a boatload of HOCI.
Where is it coming from?
Is it the real deal?
Lots of unanswered questions.
That is true to a certain extend. The big four accounting firms probably been serving the same clients for decades. They probably change the accountants every so many years. The company that left Sadler (Cirtran corp) had been with them since 2013.
What Is the Sarbanes-Oxley Act?
The act prevents conflicts of interest when an outside auditor audits a company. Under the act, auditors cannot provide other services for the same client when they provide that client with auditing services. Furthermore, the act calls for audit partner rotating and sets standards for auditor reporting.
The fact that public companies must rotate engagement partners every five years, as mandated by the Sarbanes-Oxley Act, sometimes plays a role in the decision-making process. “If a company knows the five-year rotation period is coming up, they’ll look to see what the other firms have to offer,” says Trent Gazzaway, Grant Thornton’s national managing partner of quality and innovation for audit services.
The Public Company Accounting Oversight Board (PCAOB) recently requested comment on whether audit firm rotation would improve the quality of audits. Currently, public companies are required to rotate engagement partners every five years; there is no requirement in the U.S. to rotate audit firms. While non public companies and non-profit organizations are not required to rotate audit firms or audit engagement partners, they need to think about the quality of their audits.
After we leave Sadler we could move to Pricewaterhouse and I don't think they would charge us the 22 million they charged NIKE to do their 2019 10K:)
The 2020 date is correct. Sadler had been their Auditor since 2013 and did their 2019 10k. I guess they decided to move on.
The PCTL’s 2019 10K is the most comprehensive one done on the company in addition to the Covid-19 situation there were many sales of equipment, many addition of distributors, many occasions of stock sales and subsequent events.
The appointed auditor was paid $63,693 last year, $31,035 for 2017, $19,500 for $2016 and $5100 for 2012-2015, $3500 for 2011, $2000 for 2010 and $500 for 2009. All reports were by Sadler except prior to 2016 reports were done by different auditors from Utah.
PCTL transitioned from an emerging growth company to a growing company in 2018 and more so in 2019 and to present times. As one can see the cost of 10K audits increased as the company developed its product lines and started selling them. The biggest increase came from the cost of the 2018 audit which doubled from the previous year. I expected this year’s cost of the audit to be closer to $100,000 if not more. The earlier the year the shorter and concise the report.
Even with the additional activities by the company, there is nothing that I see out of the ordinary that should take such an extended period of time to complete the audit. This isn't our first rodeo with Sadler. They have been here as PCTL emerged to the company they are today.
The biggest changes to be reflected on the 10K is the sales of stock, increase in outstanding shares and the boost in revenues from previous years.
The 10K is in the making and will show up one day but not today as it is Sunday.
I'm not angry
I'm not upset
I'm mad as hell
just kidding:)
Some light reading:
What are the top challenges in the field of audit?
1. Engagement letter
It had always been a challenge to draft an almost perfect engagement letter. It is a pre-requisite to comply with various accounting standards. Agreeing the terms of audit engagements is one of the requirements. It ensures a clear understanding and communication of the responsibilities of the auditor and the duties of the management.
2. Revenue recognition
This proves to be one of the most complicated and sensitive areas of audit for the most obvious reasons. Sometimes, the audit evidence turns out to be weak or too vague. Thus, auditors conduct a substantive test for completeness. Documents like sales invoice etc are verified in order to be sure of the authenticity. Analytical procedures help them generate sufficient evidence on the basis of various proofs and detailed testing helps generate the required levels of confidence to support the assertions.
3. Fraud
The auditor as well as the management is responsible if a blatant fraud is ignored unless proven otherwise. It may arise due to management override of internal controls. The auditor has to set aside all assumptions and apply professional skepticism when carrying out their audit. The appropriateness of journal entries will ensure that there are less chances of collusion. Segregation of duties should be in place. Any inappropriate or unusual activity should be flagged. Any provision or accounting estimates should be thoroughly checked for fraudulent intentions and biases. Hence, a retrospective review of management judgments and assumptions related to significant accounting estimates is important.
4. Inventory
Some companies “get done” with stock takes on the grounds that it is inconvenient or too costly to do so. Also, they think it is an hindrance in the regular workflow. Also, audit firms are known to have failed to address the relevant assertions where stock take attendance is concerned. Hence, the auditor should check the existence and condition of the inventory by performing test of controls. Last but not the least, one should obtain necessary and sufficient audit evidence to confirm the reliability of management’s stock taking procedures.
5. Written representations
Written representations can never be sufficient and appropriate audit evidence. They can support an audit evidence. Also, accounting standards specify a few areas where written representations are needed.
6. Documentation
“How much documentation is enough?”
To answer that question, one can safely say that there is no ‘hard and fast’ rule where audit documentation is concerned. Yet, accounting standards on audit documentation specify that the auditor must make a judgement based on the objective contained in that particular standard. It should be sufficient and appropriate record of the basis for the auditor’s report. Hence, it should act as an evidence that the audit planning and performance is in accordance with the necessary financial standards.
7. Audit report
Various dedicated paragraphs in the audit report hold significance for the investors to judge a company. Eg. The emphasis of matter paragraph specifies certain matters of significance which the auditor might want to highlight. Thus, it indicates that there is no modification in auditor’s opinion in respect of the matters therein. But, it is important to know that particular fact.
Conclusion
This article has tried to highlight major areas of an audit process which serve as common pitfalls for both, the company and the auditor. They can avoid it by using tools like VComply which enable them to work on a single platform. VComply has a compliance workroom which enables the company to post the proof of compliance. One can access, monitor and review it from time to time. A good review process by the audit firm may also flag any additional areas as deficiencies in the process. Thus, ensuring robust internal controls and timely compliance shall help the company to emerge victorious in such scenarios.
https://blog.v-comply.com/challenges-in-audit/
Yesterday's PR was informative and necessary especially with the company having been made aware of the situation. It serves many purposes including putting the fraudulent companies on notice and possibly alerting the EPA and other law enforcement agencies. That being said this not and easy fix. How willing is the Feds willing to investigate. If these companies are truly using HOCI (real product)
but aren't labeling correctly what do you do. The Feds have been very aggressive in some other areas of Covid-19 fraud so hopefully they continue to do so in this situation. These companies doing this will continue to do so unless they are stopped as there is money to be made. This may be a situation of closed one down and another open up somewhere else because cash is flowing. It also depends on the implications of prosecution whether it is a slap on the wrist or behind bars.
Compliance Concerns
It is unlawful for any person to distribute or sell a pesticide in the United States making claims to that it will kill a particular pathogen, unless that pesticide is registered with EPA and that particular claim has been deemed acceptable by the agency. EPA is receiving a steady stream of tips/complaints concerning potentially false or misleading claims, including efficacy claims, associated with pesticides and devices. These tips/complaints are being actively reviewed and efforts are being made to identify potentially violative products. EPA intends to pursue enforcement against products making false and misleading claims regarding coronavirus. EPA is working with e-commerce platforms to remove/prohibit these fraudulent and/or otherwise inefficacious products from the marketplace. EPA is also coordinating with the U.S. Department of Justice and other federal partners to bring the full force of the law against those selling or otherwise distributing violative products.
https://www.epa.gov/sites/production/files/2020-05/documents/cornavirus-compliance-advisory.pdf
Taking Action Against Fraudulent Products
Consumers should beware of imposter disinfectant products that are being marketed online with potentially dangerous claims of protection against the novel coronavirus. EPA is working the Department of Justice and other federal agencies to bring the full force of the law against those selling fraudulent or unregistered products. Read the press release about the EPA Administrator’s call with major retailers and third-party marketplaces to ensure that only approved disinfectant products are available for sale.
Compliance Advisory: What You Need to Know Regarding Products Making Claims to Kill the Coronavirus Causing COVID-19
The purpose of the Compliance Advisory is to address concerns related to products being used to disinfect surfaces which include claims to kill and/or be effective against SARS-CoV-2, the coronavirus causing the disease COVID-19. For some of these products, those claims have not been reviewed or accepted by EPA and, therefore, may present a risk to consumers, and healthcare providers in particular.
https://www.epa.gov/coronavirus/disinfectant-use-and-coronavirus-covid-19
Where is the PCTL’s 10K?
It is in the works.
What did PCTL do in 2019?
PCT LTD Executes New Master Service Agreement for Installation of Annihilyzer® Hospital Infection Control System at Carson Tahoe Regional Medical Center LITTLE RIVER, S.C., January 10, 2019
PCT LTD enters into Manufacturers Representative Agreement for Sales of Annihilyzer® Infection Control Systems in the Ohio Valley Region. LITTLE RIVER, SC February 7, 2019
PCT LTD Receives Additional Purchase Order for Two Large Volume Hydrolyte® Systems from Existing Food Processing Customer LITTLE RIVER, SC, February 12, 2019
PCT LTD Installs a Large Volume Hydrolyte® System with Option Agreement for 4 additional LVH Systems with Oil & Gas Industry Customer LITTLE RIVER, SC, February 25, 2019
PCT LTD Announces New Purchase Order as the Result of a Successful Trial of Annihilyzer® Infection Control Systems LITTLE RIVER, S.C., May 6, 2019
PCT LTD Announces Additional Hospital Installation of Annihilyzer® Infection Control System LITTLE RIVER, S.C., October 7, 2019
PCT LTD Deploys Initial Annihilyzer® Infection Control System to the United Kingdom LITTLE RIVER, S.C., October 22, 2019
PCT LTD Continues to Expand By Signing Agreement with SUNY Downstate Medical Center Worth over $500,000 LITTLE RIVER, S.C., October 31, 201
PCT LTD Continues to Expand by Signing Long-Term Agreement with ACE LITTLE RIVER, S.C., October 31, 2019
PCT LTD Issues Company Update and Announcement of Collaborative Agreement for Oil & Gas and Cannabis Applications LITTLE RIVER, S.C., December 16, 2019
While my initial thoughts were why is the 10K taking so long as the company isn’t making much money and not much is going on.
After taking a closer look there was a lot going on in 2019 so it probably is the most complicated audit PCTL had to face. Also all of the stock conversions to deal with as well is it is not being done on-site.
Below is just some light reading on the audit processes.
Patiently waiting,
Falon
P.S. Is it here yet....
There are six specific steps in the audit process that should be followed to ensure a successful audit.
Requesting Financial Documents. ...
Preparing an Audit Plan. ...
Scheduling an Open Meeting. ...
Conducting Onsite Fieldwork. ...
Drafting a Report. ...
Setting Up a Closing Meeting.
What Is an Auditor?
An auditor is an independent certified public accountant who examines the financial statements that a company's management has prepared. The federal securities laws require publicly held companies that file reports with the SEC to submit financial statements that are accurate, truthful, and complete and prepared according to a set of accounting standards called "Generally Accepted Accounting Principles" (or "GAAP"). Many of these financial statements - including those in the company's annual report and those provided to shareholders in connection with the solicitation of proxies for annual meetings - must be examined and reported on by an independent auditor.
What Do Independent Auditors Do?
A company's outside, independent auditor examines the company's financial statements and provides a written report that contains an opinion as to whether the financial statements are fairly stated and comply in all material respects with GAAP. In addition, some companies also use internal auditors to review the financial reporting processes and internal accounting controls to assure that the company's systems are appropriately designed and operating effectively.
Who Prepares a Company's Financial Statements?
A company's management has the responsibility for preparing the company's financial statements and related disclosures. The company's outside, independent auditor then subjects the financial statements and disclosures to an audit. During the audit, the outside auditor obtains an understanding of the company's internal controls and then applies "auditing procedures," which may include inspection of the company's books and records, observation, inquiries, and confirmations. The procedures the outside auditor uses must be sufficient to allow the auditor to obtain enough competent evidence to express an opinion on the fairness of the financial statements and whether they conform to GAAP in all material respects. If the auditor cannot reach that conclusion, then the auditor must either require the company to change the financial statements or decline to issue a standard audit report.
What's the Purpose of an Audit?
An audit provides the public with additional assurance — beyond managements' own assertions — that a company's financial statements can be relied upon. As the U.S. Supreme Court stated in the landmark case of U.S. v. Arthur Young: "The SEC requires the filing of audited financial statements in order to obviate the fear of loss from reliance on inaccurate information, thereby encouraging public investment in the Nation's industries." That has important implications for investors making investment decisions, for banks and financial institutions that may extend credit or make loans to the company, and for other businesses and members of the public who deal with the company.
Why Does It Take so Long to Do an Audit?
No matter what time of year it is, there’s always an organization facing an audit and a CPA firm helping them through the process. And because most audits are constrained by regulatory, tax, and other strict deadlines, the pressure’s always on to get audited financial statements finalized and out the door.
So why, after camping out in your office for several days, do auditors not have a final product? What causes seemingly unnecessary delays? What’s really going on behind the scenes?
An Overview of Success and Speed
Effective communication and timeliness are perhaps the biggest themes in what we consider smooth, fast, and easy audits. Throughout the entire process, keep checking in with your audit team on these key indicators of success. For example, ask yourself if you have consistent communication with your auditors, and whether request lists are received and answered promptly and in full.
The Many Steps to Completing an Audit
Though not every auditing firm will work this way, at Lemler Group, we break our audits into two pieces: preliminary and final. Though we follow the same steps as everyone else, doing preliminary allows our auditors to perform almost half the work before the client’s year end, making the final phase shorter and easier to complete by crucial deadlines.
Preliminary Work
Performing an audit requires more than just checking numbers on a spreadsheet; auditors come to understand how your organization operates — its goals, mission, and vision — and the internal controls it uses to ensure its finances support operations fairly.
In addition to a few tests and document collection, auditors can start this part of the audit process prior to the end of the fiscal year. Though perhaps unique to our firm’s way of handling things, here’s how Lemler Group does preliminary work:
Roll forward or create a new client binder in auditing software, removing documents that only pertain to the previous year.
Prepare a request list for documents available before year end. Each one is tailored to the client.
Insert documents into audit software, filling placeholders and establishing links between spreadsheets, supporting evidence, and the fixed asset database.
Perform tests on accounts and transactions to ensure the proper internal controls operated as designed.
Anticipate issues, changes, and suggestions to offer client during the final phase.
Perform a risk assessment to determine which areas to test during final and how to test them.
Plan and/or schedule final audit with client.
Though these tasks can seem tedious, they are the necessary underpinning for the bulk of the audit. Whether these steps occur before or after year end, they must be completed before the final phase, and delays in communication will only compound as the audit progresses.
To make your audit quicker, start preliminary as early as possible. As soon as a request list comes in, answer it: this moves your firm to the top of the list for first-come-first-served.
Final Work
The crux of an audit, the final phase seeks to confirm the numbers reported in the organization’s financial statements are accurate and arose from proper use of internal controls and any additional compliance requirements. This is how that magic happens:
Send a final request list, asking for the trial balance, general ledgers, bank statements, and other required documents.
Enter these documents into the auditing and supporting software, creating a network of linked values, evidence, and formulas.
Perform an audit on each number in the trial balance to ensure its value is reasonable and accurate. This is the step where adjustments occur. If certain transactions were entered under the wrong category, the debits and credits will change to reflect a more accurate representation of where money came and went during the year.
Ask questions and request additional supporting documents, if necessary.
Get approval from board of directors, owners, and/or those in charge of governance for the organization for the audited financial statements.
Submit audited financial statements and related documents to client, regulatory agencies, and other necessary parties.
Perhaps even more so than in preliminary, the final phase of the audit includes a large amount of back-and-forth communication. The faster your auditors are at responding to questions, and the more freely you can ask them, the faster your audit may move along.
Speed is Service
Quickness is not always about competence when it comes to auditing. There are dozens of sticking points at every step of the process that have nothing to do with the numbers themselves or those in charge of auditing them. Instead, it’s about the quality of the relationship and the trust you either build or break at each stage in the process.
At the end of the project, the two themes that drive success relate directly to the quality of service your auditor provides. If the firm is hard to reach, the team inconsistent and under-prepared, or the individual staff members difficult to work with, your audit will effectively slow to a crawl. That’s why the Lemler Group team strives intentionally to be timely, relational, and prepared with every client. We don’t charge for conversations with our team, and we’re always here to serve.
The evolution of Paradigm Convergence Technologies Corporation
PCTL's successful launch of the Annihilyzer System 18 months ago leads to a system in 20% of hospitals in New York City.
PCTL’s flagship product Annihililyzer was, is and will be the foundation of the company’s success moving forward.
The company was on the brink of faltering due to its growing debt and had to execute toxic financing for its survival.
Then PCTL received an unexpected gift due to unprecedented demand for HOCI because of the Covid-19 pandemic.
What the CEO did by shifting the focus to supplying HOCI due to the high demand and need, enabled PCTL to establish a more stable financial condition that it has ever seen.
There are many companies selling HOCI so to increase PCTL’s footprint the CEO increased production and brought on more distributors. The high demand for HOCI will continue in the foreseeable future however it isn’t going to last forever and competition will increase moving forward.
What has given PCTL an edge is that we were already established providing HOCI, they have a supply chain already in place and have equipment to produce large quantities of product.
ALL the other areas PCTL has business interests including oil and gas, food safety, agriculture, and cannabis to name a few should be adding to the bottom line moving forward.
There are many types of whole room disinfection systems but none like the Annihilyzer.
It is my belief that the Annihilyzer is really going to be the ultimate game changer. It is just too versatile, cost effective and provides hospitals not only with a whole room disinfection system but a second product for the price of one.
FACTS about the Annihilyzer:
The best solution to a multi-billion dollar problem.
The Most Technologically Advanced Disinfection System Ever Created to Eliminate Hospital Associated Infections (HAIs) using Patented RFID Technology for Tracking and Disinfecting Protocols.
Why is the Annihilyzer Infection Control System one of the best and most versatile in the world ?
The Annihilyzer System is truly a cost-effective Green Seal Certified end-to-end total facility disinfection and cleaning system. This system generates both a hospital grade disinfectant and a very effective cleaning solution to cover virtually all of your cleaning and disinfection needs. These on-site generators produce stable electrochemically activated solutions, OSG 460D - Hospital Grade Disinfectant that is effective against C. diff, MRSA, and VRE, and an OSG 11-12 All Purpose Cleaner, and downtime for the process is only 15 - 20 minutes with no special preparation or precautions necessary.
The Annihilyzer System doesn't stop there, though. The icing on the cake is our state-of-the-art whole-room and handheld electrostatic sprayers that make quick work of completely disinfecting a room. Our 460D disinfectant can even be used to disinfect floors without leaving a haze or residue. We use a powerful non-synthetic disinfectant along with an automated electrostatic spray cart and/or electrostatic sprayers and patented RFID tracking technology that together are unmatched the industry to ensure proper and complete application.
What can the Annihilyzer do?
Save time and money by generating disinfectant and all-purpose cleaner on-site, on-demand
Eliminate the toughest bacteria, viruses, and fungi, including C. diff, C. auris, MRSA, VRE, blood-borne pathogens, and more.
Create 'industry best' protocols and 'push' them out to your cleaning staff in real-time with the Annihilist dashboard and mobile app
Generate reports that show when the areas were cleaned, who cleaned them, and what was done
Increase staff efficiency and effectiveness with process tracking, training, and accountability
How does the Annihilyzer save companies money?
Costs associated with purchasing and managing chemicals – eliminated
Freight charges for chemical deliveries – eliminated
Chemical container disposal or recycling costs – eliminated
Personal protection gear for cleaning – eliminated
Wastewater disposal costs and related fines for non-compliance – eliminated
Workers comp claims due to chemical burns and fume inhalation – eliminated
Happier, healthier and more productive workers
Same or better cleaning power than traditional hazardous chemicals for less
Eliminates costs associated with ordering, inventorying and disposing of chemicals and containers
How many hospitals are in NYC?
There are 62 acute care hospitals in New York City.
How many hospitals in NYC have at least one Annihilyzer System?
PCTL has installed at least 14 systems and gained 22.5% market share in NYC hospitals in less than 18 months.
Most Technologically Advanced Disinfection System Ever Created
Annihilyzer the future for Healthcare and other Industries
During the Coronavirus Pandemic a Hospital with the Annihilyzer in place was in a better position than a hospital without it. Many hospitals will be asking themselves what could we have done differently? If they know about the Annihilyzer, having one will certainly be one of their answers. This is not the last so they have to put themselves in the best position for future events.
What is a better investment for a whole room Infection Control System:
Annihilyzer versus an UV system?
They both disinfect effectively however the Annihilyzer provides an additional products, an all purpose cleaner and handheld electrostatic sprayers that can be used in other parts of the hospital in the presence of people because it is “Green Certified”.
Also the Annihilyzer cost less than half that of one of the best UV system on the market, the Xenex “LightStrike” cost about $125,000,
Annihilyzer versus a Chemical (Hydrogen Peroxide) based system?
They both disinfect effectively however the Annihilyzer provides an additional products, an all purpose cleaner and handheld electrostatic sprayers that can be used in other parts of the hospital in the presence of people because it is “Green Certified”.
Chemical based solutions require protective equipment, are more expensive and are harsh on furniture and one company called Hanosil sells their machine for under $10,000 however it costs $20 in product to clean each room.
It cost $1 in HOCI to clean a room.
PCTL’s mission, ambition, plan was, is and will be the Annihilyzer.
PCT LTD focuses its business on sustainable, environmentally safe technologies and products. The company acquires, holds and develops rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp) .
The business mission of PCT Corp. is to profitably provide Electro-Chemical Activation equipment and disinfecting fluid solutions to hospitals for the documentable prevention of Healthcare Associated Infections (HAI’s). PCT Corp. designs, develops, integrates, assembles and commercializes technologies, products and systems targeted at the prevention and control of infectious disease. Its unique and patented systems and human-safe products provide next-generation cleaning, sanitizing, and disinfecting.
A NEW DISRUPTIVE TECHNOLOGY IN THE
WORLD OF HOSPITAL DISINFECTION
defeating HAIs with science not chemicals
Healthcare Associated Infections (HAI) — also known as a nosocomial infection are transmitted within a healthcare facility from patient to patient. It can be spread throughout the hospital environment, nursing home environment, rehabilitation facility, clinic, or other clinical settings resulting in a 35 billion dollar a year problem. HAI’s include C-Diff, Staph, MRSA, …. With our system, not only can we reduce harmful bacteria but we can also help you drastically reduce the financial liability associated with HAI and improve your bottom line savings, by increasing efficiency, reporting, and cutting down on labor and harmful chemical costs.
The expansion of Hypoclorous Acid was a gift that has allowed PCTL to execute the build out of Annihilyzer systems. Unforeseen value added.
While we are in a Pandemic many organizations especially Hospitals are asking themselves what could we have done or can do to better protect ourselves and clients during this and possible future events.
I would be astonished if the Annihilyzer doesn’t come up in a lot of these conversations especially as different organizations start to compare notes. I have written many messages of the effectiveness of the Annihilyzer as to why it is superior to other systems not only in defeating pathogens, but price wise and the fact it is green would bring additional cost savings.
Make no mistake the end game is the Annihilyzer and other HOCI producing systems.
The evolution of Paradigm Convergence Technologies Corporation
PCTL's successful launch of the Annihilyzer System 18 months ago leads to a system in 22% of hospitals in New York City.
PCTL’s flagship product Annihililyzer was, is and will be the foundation of the company’s success moving forward.
The company was on the brink of faltering due to its growing debt and had to execute toxic financing for its survival.
Then PCTL received an unexpected gift due to unprecedented demand for HOCI because of the Covid-19 pandemic.
What the CEO did by shifting the focus to supplying HOCI due to the high demand and need, enabled PCTL to establish a more stable financial condition that it has ever seen.
There are many companies selling HOCI so to increase PCTL’s footprint the CEO increased production and brought on more distributors. The high demand for HOCI will continue in the foreseeable future however it isn’t going to last forever and competition will increase moving forward.
What has given PCTL an edge is that we were already established providing HOCI, they have a supply chain already in place and have equipment to produce large quantities of product.
ALL the other areas PCTL has business interests including oil and gas, food safety, agriculture,
and cannabis to name a few should be adding to the bottom line moving forward.
There are many types of whole room disinfection systems but none like the Annihilyzer.
It is my belief that the Annihilyzer is really going to be the ultimate game changer. It is just too versatile, cost effective and provides hospitals not only with a whole room disinfection system but a second product for the price of one.
FACTS about the Annihilyzer:
The best solution to a multi-billion dollar problem.
The Most Technologically Advanced Disinfection System Ever Created to Eliminate Hospital Associated Infections (HAIs) using Patented RFID Technology for Tracking and Disinfecting Protocols.
Why is the Annihilyzer Infection Control System one of the best and most versatile in the world ?
The Annihilyzer System is truly a cost-effective Green Seal Certified end-to-end total facility disinfection and cleaning system. This system generates both a hospital grade disinfectant and a very effective cleaning solution to cover virtually all of your cleaning and disinfection needs. These on-site generators produce stable electrochemically activated solutions, OSG 460D - Hospital Grade Disinfectant that is effective against C. diff, MRSA, and VRE, and an OSG 11-12 All Purpose Cleaner, and downtime for the process is only 15 - 20 minutes with no special preparation or precautions necessary.
The Annihilyzer System doesn't stop there, though. The icing on the cake is our state-of-the-art whole-room and handheld electrostatic sprayers that make quick work of completely disinfecting a room. Our 460D disinfectant can even be used to disinfect floors without leaving a haze or residue. We use a powerful non-synthetic disinfectant along with an automated electrostatic spray cart and/or electrostatic sprayers and patented RFID tracking technology that together are unmatched the industry to ensure proper and complete application.
What can the Annihilyzer do?
Save time and money by generating disinfectant and all-purpose cleaner on-site, on-demand
Eliminate the toughest bacteria, viruses, and fungi, including C. diff, C. auris, MRSA, VRE, blood-borne pathogens, and more.
Create 'industry best' protocols and 'push' them out to your cleaning staff in real-time with the Annihilist dashboard and mobile app
Generate reports that show when the areas were cleaned, who cleaned them, and what was done
Increase staff efficiency and effectiveness with process tracking, training, and accountability
How does the Annihilyzer save companies money?
Costs associated with purchasing and managing chemicals – eliminated
Freight charges for chemical deliveries – eliminated
Chemical container disposal or recycling costs – eliminated
Personal protection gear for cleaning – eliminated
Wastewater disposal costs and related fines for non-compliance – eliminated
Workers comp claims due to chemical burns and fume inhalation – eliminated
Happier, healthier and more productive workers
Same or better cleaning power than traditional hazardous chemicals for less
Eliminates costs associated with ordering, inventorying and disposing of chemicals and containers
How many hospitals are in NYC?
There are 62 acute care hospitals in New York City.
How many hospitals in NYC have at least one Annihilyzer System?
PCTL has installed at least 14 systems and gained 22.5% market share in NYC hospitals in less than 18 months.
Most Technologically Advanced Disinfection System Ever Created
Annihilyzer the future for Healthcare and other Industries
During the Coronavirus Pandemic a Hospital with the Annihilyzer in place was in a better position than a hospital without it. Many hospitals will be asking themselves what could we have done differently? If they know about the Annihilyzer, having one will certainly be one of their answers. This is not the last so they have to put themselves in the best position for future events.
What is a better investment for a whole room Infection Control System:
Annihilyzer versus an UV system?
They both disinfect effectively however the Annihilyzer provides an additional products, an all purpose cleaner and handheld electrostatic sprayers that can be used in other parts of the hospital in the presence of people because it is “Green Certified”.
Also the Annihilyzer cost less than half that of one of the best UV system on the market, the Xenex “LightStrike” cost about $125,000,
Annihilyzer versus a Chemical (Hydrogen Peroxide) based system?
They both disinfect effectively however the Annihilyzer provides an additional products, an all purpose cleaner and handheld electrostatic sprayers that can be used in other parts of the hospital in the presence of people because it is “Green Certified”.
Chemical based solutions require protective equipment, are more expensive and are harsh on furniture and one company called Hanosil sells their machine for under $10,000 however it costs $20 in product to clean each room.
Annihilyzer cost $1 yes one dollar per room!!!
PCTL is the best SCAM I've ever invested in!!!
Struggling
Company
About to
Move up
People are invested in PCTL because it is an emerging company with HUGH potential.
How could a company go from needing an “angel funder” with 3.5-5 million dollars to invest to record sales for the quarter and profitable for the month of March 2020 all in a week’s time?
I’ll tell you how HOCI!!!!
The question now is do they still need the 3.5-5 million dollars?
Do they have that 3.5-5 million dollars lined up due to their sudden windfall?
Don’t know
Thoughts
It has a record breaking Q1 for sales and revenues.
PCTL is a growing company and although it went through some toxic financing, they were fortunate enough to increase sales due to an unprecedented demand for HOCI that put them in a position to cover their burn rate. Also 2019 is the year where PCTL had the most system installs that will most likely increase exponentially in 2020.
PCTL revenues increased year to year with the biggest bump up in 2019. Please note the revenues for 2019 are just through the 3rd quarter as the 2019 10K has not been filed yet.
2015 $141
2016 $113,387
2017 123,105
2018 $266,122
2019 $534,852 thru 9 months
2020 $$$$$$$$$$$$$$
2021 $$$$$$$$$$$$$$$$$$$$$$
2022 $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
From the March 9, 2020 CEOCFO Magazine interview:
CEOCFO: Are you funded now? Are you seeking partnership, investments or funding as you move forward?
Mr. Grieco: Yes. Obviously, for a small company, that has been our greatest, most stubborn obstacle! First of all, the length of time that it takes to get into hospitals, and second of all, the length of time; even once you make your first presentation, the average time is about six months before you get them to agree to a Phase I Installation! Those things are very costly for us to provide. We are sending in our own Infection Preventionist, former Hospital EVS Administrator and our Technical Engineer to discuss our system, the fluid side itself and on how all the machines operate; that’s expensive. Therefore, yes! We are certainly looking for funding now; I guess the correct term would be an angel funder, from this point. Someone who understands what we do, sees its impact on the healthcare system of this country, sees its impact on a company that can deliver a solution to that and is willing to commit three and one half to five million dollars to that process.
From the PR dated March 13, 2020:
As a result of increased demand, an existing customer, BioBlasting LLC of Egg Harbor Township, New Jersey (www.bioblasting.com) has also purchased two of PCT Corp.’s large volume Hydrolyte® generators.
"Our company has been growing exponentially over the past 2 years as our clients have discovered the benefits of our fluid solutions, which offer a high level of safety for both staff members and the general public," says BioBlasting CEO, Arthur Handson. "In light of the recent outbreak, our team has been working around the clock to ensure our products are accessible to all people and industries, particularly schools. Our goal is to minimize the effects of infectious disease outbreak by implementing proper preventive measures as well as assisting with eradication procedures as needed."
Contingent Asset
A contingent asset is a potential economic benefit that is dependent on future events out of a company’s control. Not knowing for certain whether these gains will materialize, or being able to determine their precise economic value, means these assets cannot be recorded on the balance sheet. However, they can be reported in the accompanying notes of financial statements, provided that certain conditions are met. A contingent asset is also known as a potential asset.
A contingent asset becomes a realized asset recordable on the balance sheet when the realization of cash flows associated with it becomes relatively certain. In this case, the asset is recognized in the period when the change in status occurs.
Contingent assets may arise due to the economic value being unknown. Alternatively, they might occur due to uncertainty relating to the outcome of an event in which an asset may be created. A contingent asset appears because of previous events, but the entirety of all asset information will not be collected until future events happen.
There also exists contingent or potential liabilities. Unlike contingent assets, they refer to a potential loss that may be incurred, depending on how a certain future event unfolds.
KEY TAKEAWAYS
A contingent asset is a potential economic benefit that is dependent on future events out of a company’s control.
Upon meeting certain conditions, contingent assets are reported in the accompanying notes of financial statements.
They are recorded on the balance sheet only when the realization of cash flows associated with it becomes relatively certain.
Examples of Contingent Assets
A company involved in a lawsuit with the expectation to receive compensation has a contingent asset because the outcome of the case is not yet known and the dollar amount is yet to be determined.
Let’s say Company ABC has filed a lawsuit against Company XYZ for infringing a patent. If there is a decent chance that Company ABC will win the case, it has a contingent asset. This potential asset will generally be disclosed in its financial statement, but not recorded as an asset until the lawsuit is settled.
Based on this same example, Company XYZ would need to disclose a potential contingent liability in its notes and then later record it in its accounts, should it lose the lawsuit and be ordered to pay damages.
Contingent assets also crop up when companies expect to receive money through the use of a warranty. Other examples include benefits to be received from an estate or other court settlement. Anticipated mergers and acquisitions are to be disclosed in the financial statements.
Reporting Requirements
Generally accepted accounting principles (GAAP) requires a note disclosure in financial statements for any contingent assets. In contrast, under International Financial Reporting Standards (IFRS), a company does not necessarily need to report contingent assets because they may never materialize.
International Accounting Standard 37 (IAS 37), applicable to IFRS, states the following: “Contingent assets are not recognized, but they are disclosed when it is more likely than not that an inflow of benefits will occur. However, when the inflow of benefits is virtually certain an asset is recognized in the statement of financial position because that asset is no longer considered to be contingent.”
Contingent asset accounting policies for GAAP are outlined in the Financial Accounting Standards Board (FASB) Financial Accounting Standard Number 5.
Special Considerations
Companies must reevaluate the potential asset continually. When a contingent asset becomes likely, firms must report it in financial statements by estimating the income to be collected. The estimate is generated using a range of possible outcomes, the associated risks, and experience with similar potential contingent assets.
Contingent assets are ruled under the conservatism principle, which is an accounting practice that states that uncertain events and outcomes should be reported in a manner that results in the lowest potential profit. In this case, the benefits of the asset are deferred to ensure that the financial statements are not misleading.
Upon estimating the dollar amount to report using IFRS, the lowest estimated asset valuation must be utilized. No gain may be recorded from a contingent asset until the gain actually occurs. The conservatism principle supersedes the matching principle of accrual accounting, meaning the asset may not be reported until a period after associated costs were incurred.
I believe the have a machine and it was broke at the time however the show must go on and it did. Product kept moving and cash kept flowing.
Possibly,
If the lawsuit was filed during the filing period 2019 and it was settled before the 10K was filed then it might be an issue.
However it depends on what the auditors think about the lawsuit and how they interpret SEC language. It mostly talk about being sued not sueing
The bottom line is we are the Plaintiffs so it should be a non-issue.
How long will my audit take?
Audits are typically scheduled for three months from beginning to end, which includes four weeks of planning, four weeks of fieldwork and four weeks of compiling the audit report. The auditors are generally working on multiple projects in addition to your audit. The auditors' time will be divided among all of their projects, with some weeks heavily focused on your audit and other weeks less focused on your audit.
https://rmas.fad.harvard.edu/faq/how-long-will-my-audit-take
A Day in the Life of an External Auditor
As an external auditor it’s your responsibility to ensure the company you work for gives a true and fair view of its financial position. This is mainly shown through its financial statements and reports. You are ensuring the company has worked 100% honestly to earn any profits or accrue any assets. It’s a high pressure role that’s constantly changing and as many external audit job roles are held for many years as it takes a certain type of professional. Below we look at a day in the life of an external auditor and what they may encounter on a day to day basis.
External auditors spend the majority of their working days out with clients, carrying out a large amount of tests and calculations across many areas. You may be checking a sample of the company’s sales to supporting documentation, you may attend stock takes and you may be making calculations to ensure the company is depreciating the value of its fixed assets correctly.
A full scale audit can take as long as eight weeks and you may find yourself located at a single site of your company during this time. It’s your job to go through everything with a fine tooth comb to guarantee everything has been carried out along official means.
A highlight of the working day of an external auditor is the wide spectrum of people you’ll come into contact with. There will be occasions where you travel from office to office and meet different people every single day of the week. Your people-facing skills will be put to the test as you regularly liaise with a range of internal and external individuals.
Key to the working day of an external auditor is planning. You need to ensure you create to-do lists and prioritise your work in order of urgency.
When the practical calculations and work is complete then a lot of your time as an auditor will be spent writing up reports and analysing results. You will spend a considerable amount of your day evaluating and providing assurances that risk management controls are functioning appropriately.
If there ever are any risk management issues or internal control problems then it is your responsibility to report these to the larger audit committee alongside your recommendations for improvements.
Another part of the role of an external auditor is to ensure you’re continually learning and developing your skills. Continued professional development is an essential facet of your job and you need to engage in regular training and development wherever possible.
With the right professional qualifications, experience and passion for financial services working in audit can be a really valuable career move. You’ll learn everything from how to multitask to how to use your initiative and specific computer applications. Every day will be different and even when there are problems there’s space for job satisfaction as you find a solution.
Working in audit is a great challenge and an essential part of any large company complying with the Financial Services Authority. External audit is extremely important to any business as the company owners and directors rely upon your skills to streamline the business and push it in the right direction.
https://www.careersinaudit.com/article/a-day-in-the-life-of-an-external-auditor/