The Registrant is diligently working towards the preparation and filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and Annual Report on Form 10-K for the fiscal year ended December 31, 2019.
Due to the guidelines established by federal, state and local governments limiting physical contact and promoting social distancing as result of the global outbreak of the COVID-19 virus, many of the Registrant’s service providers (accountants, attorneys, auditors) are working remotely on a limited basis. This has slowed the accounting and auditing work required to compile, review and audit the Registrant’s financial statements for the quarter ended September 30, 2019 to be included in the Quarterly Report and for the year ended December 31, 2019 to be included in the Annual Report. Based upon current estimates, the Registrant believes it is possible to file the Quarterly Report on or before April 15, 2020 and its Annual Report on or before May 31, 2020. However, these dates are subject to change as the pandemic causes additional restrictions on a daily basis.
In the interim, the Registrant remains open for business and continues to supply products and solutions to its customers.
Forward-Looking Statements
This Current Report on Form 8-K (“Current Report”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Exchange Act as they relate to the COVID-19 pandemic. These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. The Registrant may use words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “foresee,” “estimate” and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond its control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. These risks and uncertainties include the following:
· The impact of COVID-19 on the Registrant’s future operating results; · The impact of COVID-19 on the Registrant’s business prospects; · The impact of COVID-19 on the Registrant’s contractual arrangements and relationships with third parties; · The impact of COVID-19 on the Registrant’s possible financings; · The ability of the Registrant to continue business operations as an essential business; · The adverse public health developments and economic effects of the outbreak in the United States, which have become more severe in the weeks prior to the date of this Current Report, could adversely affect the Registrant’s operations as a result of quarantines, facility closures and logistics restrictions in connection with the outbreak; · More broadly, the outbreak could potentially lead to an economic downturn, which may adversely affect the Registrant’s business, results of operations and financial condition; and · the adequacy of the Registrant’s cash resources and working capital.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements, and the Registrant’s business, results of operations, financial condition and cash flows may be materially and adversely affected. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Except to the extent required by applicable law or rules, the Registrant undertakes no obligation and does not intend to update, revise or otherwise publicly release any revisions to its forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PCT LTD
By: /s/ Gary J. Grieco
Gary J. Grieco, President
Date: April 2, 2020
Nothing I say, post, or do should ever be considered financial advice. It is just my personal opinion. I may be holding a long, short or no position. I am NOT or NEVER have been compensated to post on here and my posts are for entertainment purposes only.
