PCT Ltd (PCTL)

[growinstax]

Please show where it says there is a firm termination date. Perhaps it's written in invisible ink?

It clearly states: If a definitive agreement is not executed by the parties on or before July 30, 2019 (or such other date agreed to by the parties), the LOI will terminate.

Do you have affirmative information showing this is terminated? I think not. As far as the timeline, it's seen via the August 8K, it says:

Item 8.01 Other Events.

On July 12, 2019, the Registrant entered into a binding letter of intent (the “LOI”) with 2705908 Ontario Inc. (“Ontario”), a recently incorporated Canadian company. Pursuant to the terms of the LOI, the parties agreed to negotiate and enter into a definitive agreement by July 30, 2019 pursuant to which, by way of a loan agreement and option agreement, Ontario would have been entitled to acquire at least 51% control of the Registrant, through the acquisition of common shares in the capital of the Registrant and direct issuance(s) of common shares from the Registrant (the “Proposed Transaction”). The scheduled closing date of July 30, 2019 was very aggressively set due to an effort to repay certain convertible debt before the prepayment dates and the conversion of such debt into shares of common stock. The due diligence of both organizations has taken longer than anticipated. Both companies are negotiating in good faith and on the stated terms with best efforts and an intention of moving forward and closing the transaction as efficiently as possible and have executed an extension of the LOI through August 19, 2019. A copy of the extension is attached as Exhibit 10.1.

Exhibit 10.1

Filings:

10Q
8K